TUESDAY MARCH 26, 2019 ISSUE 2855/2019 FINANCIAL DAILY · Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia Publisher and Group CEO Ho Kay Tat EDITORIAL For News Tips/Press

Fajarbaru warns of RM28.5m impairment of receivables

Ananda said tobe near US$500m loan deal

George Kent 4Q net profi t falls 65% on lower segmental contribution

‘Treasurer’ Goh is prosecution witness as S’pore’s penny-stock crash trial starts

Sapura Energy’s losses narrowedby RM2.66b disposal gain

FBM KLCI 1649.15 17.51 KLCI FUTURES 1645.00 12.00 STI 3182.92 29.18 RM/USD 4.0670 CPO RM2140.00 27.00 OIL US$66.91 0.12 GOLD US$1317.00 4.70

Bond markets fl ash same warning1 9 W O R L D B U S I N E S S

FINANCIALDAILY

w w w . t h e e d g e m a r k e t s . c o m

M A K E B E T T E RDECISIONS

PP 9974/08/2013 (032820)PENINSULAR MALAYSIA RM1.50

TUESDAY MARCH 26, 2019 ISSUE 2855/2019

2

5 H O M E B U S I N E S S




Putrajaya has many plans to overcome the problems

left by previous government.Story on Page 4.

DR M: BE PATIENT,MALAYSIA CAN

RECOVER FROM MONEY WOES

BERNAMA

Public Mutual biggest winner at the 2019 Lipper Fund Awards from Refi nitiv 6 H O M E B U S I N E S S

impairment of receivables

is prosecutionwitness as S’pore’s penny-stock crash trial starts



S U P P O R T E D B Y |

P A R T N E R |

P R E S E N T E D B Y |

Which is Malaysia’s

Best Managed Property?

Results to be unveiled

at the gala dinner, April 21

BY I N V I TAT I O N O N LY

E N D O R S E D B Y

M I N I S T R Y O F H O U S I N G A N D

L O C A L G O V E R N M E N T

www.theedgemarkets.com

https://www.edgeprop.my/


Ananda said tobe near US$500m loan deal




FBM KLCI 1649.15 17.51 KLCI FUTURES 1645.00 12.00 STI 3182.92 29.18 RM/USD 4.0670 CPO RM2140.00 27.00 OIL US$66.91 0.12 GOLD US$1317.00 4.70

Bond markets fl ash same warning1 9 W O R L D B U S I N E S S

FINANCIALFINANCIALDAILYDAILY

w w w . t h e e d g e m a r k e t s . c o m

M A K E B E T T E RDECISIONS

PP 9974/08/2013 (032820)PENINSULAR MALAYSIA RM1.50

TUESDAY MARCH 26, 2019 ISSUE 2855/2019

2





Putrajaya has many plans to overcome the problems

left by previous government.Story on Page 4.

DR M: BE PATIENT,MALAYSIA CAN

RECOVER FROM MONEY WOES

BERNAMA

Public Mutual biggest winner at the 2019 Lipper Fund Awards from Refi nitiv 6 H O M E B U S I N E S S


2 TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

For breaking news updates go towww.theedgemarkets.com

O N E D G E T V


PNB on the cusp of change

BY B E N J A M I N C H E R

BY W O N G E E L I N

The Edge Communications Sdn Bhd (266980-X)

Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia

Publisher and Group CEO Ho Kay Tat

EDITORIAL

For News Tips/Press ReleasesTel: 03-7721 8219 Fax: 03-7721 8038Email: [email protected]

Editor-in-Chief Azam ArisExecutive Editors Ooi Inn Leong, Kathy Fong, Jenny Ng, Diana KhooSenior Editors Cindy Yeap, Jose Barrock, Kang Siew LiAssociate Editors R B Bhattacharjee, Vasantha Ganesan, Adeline Paul Raj Deputy Editor Tan Choe Choe Assistant Editors Khairie Hisyam Aliman, Kanagaraju S SithambaramChief Copy Editor Felyx TeohAssociate Copy Editor Teoh Hock SiewSenior Copy Editor Melanie ProctorCopy Editor Tham Kid ChengArt Director Sharon KhohChief Graphic Designer Cheryl LohDesign Team Valerie Chin, Mohd Yusry, Aaron Boudville, Aminullah Abdul Karim, Noorain Duasa, Tun Mohd Zafi an Mohd Za’abah

EDITORIAL ADMINISTRATION

Manager Katherine TanSenior Coordinator Maryani Hassan

CORPORATE Chief Operating Offi cer Lim Shiew Yuin

ADVERTISING & MARKETING

To advertise contactGL: (03) 7721 8000 Fax: (03) 7721 8288Chief Commercial Offi cer Sharon Teh (012) 313 9056Senior Sales Managers

Fong Lai Kuan (012) 386 2831Gregory Thu (012) 376 0614Lim Sook Chin (012) 205 5986Creative Marketing Chris Wong (016) 687 6577Head of Marketing Support & Ad Traffi c

Lorraine Chan (03) 7721 8001Email: [email protected]

OPERATIONS

To order copyTel: 03-7721 8052 / 8050 / 8037Fax: 03-7721 8282Email: [email protected]

EdgeProp.my

Managing Director/Editor-in-Chief

Au Foong YeeExecutive Editor Sharon KamEditor Lam Jian WynAssistant Editor James Chong

MARKETING & ADVERTISING

Associate Account Director,

Advertising & Marketing

Heidee Ahmad (019) 388 1880

PRODUCT DEVELOPMENT & CUSTOMER ADVISORY

Senior Manager Elizabeth Lay

Foreign fi rms keen to acquire stake in Malaysia AirlinesDaim: If part of its interest is sold, the carrier will get capital injections, expertise

SINGAPORE: On the fi rst day of the trial for “the most serious case of stock market manipulation in Sin-gapore”, Goh Hin Calm has been confi rmed as a prosecution witness against the alleged 2013 penny-stock saga masterminds, John Soh Chee Wen and Quah Su Ling.

Sentenced to three years’ jail last Wednesday, Goh has been described by the authorities as the pair’s for-mer “treasurer”. In court yesterday, it was revealed that Goh had given 33 statements, up to 492 pages, to the authorities. Th e statements were sent to the defence counsels for Soh and Quah last Friday. It was also re-vealed that Dick Gwee Yeow Pin’s statements were sent to the defence counsels on the same day.

Th e prosecution said they are con-sidering using Gwee’s statements to strengthen their case. Gwee gave a total of four statements to the Com-mercial Aff airs Department — three in April 2014, and one in May 2015.

However, Quah’s counsel, Philip Fong, a managing partner at Ever-sheds Harry Elias, pointed out the statements given to the defence have missing gaps. Specifi cally, questions 119 to 241 and 290 to 384 were miss-ing from Gwee’s statements. Soh’s defence counsel, N Sreenivasan, managing director and senior


counsel at Straits Law, requested for Gwee’s full statement. Th e pros-ecution, led by deputy public pros-ecutor Peter Koy, postulated that Soh and Quah had manipulated the shares in Asiasons (now known as Attilan Capital), Blumont and Lion-Gold using 189 controlled accounts in various names and entities.

Th e modus operandi was also out-lined during the trial, with Koy de-scribing how Soh or Quah gave trade instructions to various trading repre-sentatives through telephone calls or text messages to trade shares in the three companies at a certain price. To strengthen their case, the prose-cution will be calling witnesses such as Peter Chen Hing Woon, Leroy Lau Chee Heong and Ken Tai Chee Ming.

Chen is LionGold’s former direc-tor of business and corporate devel-opment, and a known close associate

of Soh and Quah. Lau and Tai were brokers who helped the pair in their trading activities. It was also revealed in court that some witnesses may be hostile to the prosecution. Th e prosecution also introduced new evidence along with the statements to the defence last Friday.

They added a new telephone number, a LionGold meeting room and two Internet trading accounts into the original data set analysed by the Government Technology Agency.

Th e original data set also had an issue with dates “8/5” read as Aug 5 instead of May 8. Th is was dis-covered after the new number and accounts were analysed. In light of the new evidence and statements, Justice Hoo Sheau Peng granted a one-day adjournment of the trial. Hearing will resume tomorrow. — Th e Edge Singapore

KUALA LUMPUR: Several foreign companies, including from Europe, Asia and the Middle East, are keen to acquire a stake in Malaysia Airlines Bhd, the Council of Eminent Persons chairman Tun Daim Zainuddin said.

He said they do not necessarily take over the whole company but may hold only part of the nation-al carrier’s interest, currently 100% owned by Khazanah Nasional Bhd.

“Alhamdulillah, those keen to buy Malaysia Airlines stocks are from Asia,

Europe and the Middle East. Th ey have expressed their wish to the gov-ernment and some have written to me.

“Th ey can do research on the company (Malaysia Airlines),” he said in an interview on TV3’s Bu-letin Utama yesterday.

Daim said the aviation sector is increasingly complex and com-plicated, and huge funds and ex-pertise are extremely important to grow the business.

Consequently, he said if part of

Malaysia Airlines’ interest is sold to a foreign company, it will get capital injections and expertise, indirectly restoring the company. “It is okay if others want to buy our stocks; if they want to bring in expertise, then bring it.”

He said the government should not interfere with the national car-rier’s operations, and it is suffi ce to lend its support by helping to secure landing rights at strategic locations.

Daim, however, does not see

the need to review the proposed merger of Malaysia Airlines and Airasia as previously mentioned. “Malaysia Airlines is a premium airline, while AirAsia is a low-cost carrier. It is better that they com-pete ... [We get] better value then.”

Daim said whatever the govern-ment decides, Malaysia Airlines’ em-ployees’ future and welfare should be safeguarded as they are the ones who would bring the company out of the fi nancial problems. — Bernama

GEORGE TOWN: Finance Minis-ter Lim Guan Eng told the High Court here yesterday that the Penang government paid RM11.2 million to HSSI Sdn Bhd for its role as an independent inspec-tion engineer for the state’s three major highway projects.

Guan Eng said the payment was made for the feasibility study and detailed designs for the three main highways — the North Coast paired road from Tanjung Bungah to Teluk Bahang, the Air Itam-Tun Dr Lim Chong Eu Expressway by-pass and the Gurney Drive-Tun Dr Lim Chong Eu Expressway bypass.

“Until today, the state govern-ment has not made any payment for the undersea tunnel; instead, it only paid RM11.2 million to HSSI for the three main highway projects,” he said when testifying in his suit against former Penang Barisan Nasional chairman Teng Chang Yeow for allegedly issuing defamatory statements against him.

Guan Eng said the RM11.2 mil-lion would be recovered from the contractor as “reimbursement”. “Th e payment was only for the three major highways as there’s no urgency to complete the un-dersea tunnel project,” he said.

Th e fi rst day of the hearing was held before Judge Datuk Rosilah Yop, with Guan Eng represented by lawyer Simon Murali and Teng by Kek Boon Wei.

Formerly Penang chief minis-ter, Guan Eng also denied provok-ing Teng over the implementation of the undersea tunnel and three major highway projects. Kek had asked Guan Eng why he, as the chief minister at that time, did not explain the issue but instead fi led a suit. To this, Guan Eng said he had done both.

The hearing will resume on May 6 as Guan Eng is unable to attend court due to the ongoing Parliament sitting. — Bernama

‘Penang only paid RM11.2m for three major highway projects’

KUALA LUMPUR: Permaju Indus-tries has teamed up with OCR Group Bhd to develop a residential and commercial project with an estimat-ed gross development value (GDV) of RM1 billion in Kota Kinabalu.

Permaju said its 70%-owned sub-sidiary Hardie Development Sdn Bhd had inked a memorandum of under-standing with OCR’s wholly-owned unit O&C Construction Sdn Bhd for

Permaju, OCR to develop RM1b GDV project in Kota Kinabaluthe 44.28ha Princess Heights devel-opment in the Menggatal district.

Th e project comprises shops, shop-offi ces, terrace houses, town houses and a four-storey hyper-market. It is also earmarked for the future development of an e-com-merce and lifestyle hub, said Per-maju in a fi ling with Bursa Malaysia,

“Upon completing the phase 1E of the project — the four-storey hypermarket — it will be leased to Mydin Mohamed Holdings Bhd for

20 years for the establishment and operation of its hypermarket and retail business,” Permaju added in a separate statement.

Th e group said the total collect-able rental is estimated at RM433 million. Permaju said the parties will enter into a defi nite agreement to set forth their scope of joint ven-ture, upon performing their respec-tive due diligence. It added that the profi t-sharing concerning the pro-ject will be on a 50:50 basis.

(From left) Quah, Soh and Goh. Goh had given 33 statements, up to 492 pages, to the authorities. Photo by The Edge Singapore

4 H O M E B U S I N E S S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

SERDANG: Prime Minister Tun Dr Mahathir Mohamad said yes-terday the country will recover in three years from the admin-istrative and fi nancial problems left behind by the previous gov-ernment.

He said the present govern-ment has many plans that he be-lieves can overcome the admin-istrative and fi nancial problems left behind, and called on civil servants to be patient and work with the government to recover its position.

“InsyaAllah (God willing), if the situation in the country re-mains peaceful without any un-lawful incidents in the next three years, we can bring about the re-covery,” he said at the Cuepacs premier assembly here yesterday.

Dr Mahathir said it is not enough for the eff orts to revive the country to be executed only through political power in the wake of the victory of the Pa-katan Harapan coalition in the

KUALA LUMPUR: The federal government is reviewing the suit-ability of lands that have been offered by state governments for affordable housing purposes, said Housing and Local Government Minister Zuraida Kamaruddin.

“Before we launched the af-fordable housing policy, we have written to menteris besar [and chief ministers] in the country,” she said.

“Each state has offered lands deemed suitable for the devel-opment. The ministry of housing and local government is currently conducting site visits to the lands to determine their suitability, namely the locations and [availa-bility of ] appropriate infrastruc-ture,” she told the Dewan Rakyat yesterday.

Zuraida was answering a ques-tion from Tan Sri Noh Omar [BN-Tanjong Karang] on wheth-er the federal government was able to obtain state government lands for affordable housing pur-poses, considering the difficul-ties faced by some state agen-cies themselves in obtaining the same.

Dr M: Be patient, Malaysia can recover from money woesPutrajaya has many plans to overcome the problems left by previous government

14th general election.“It is of utmost importance to all

of you to understand our history and know what is being done by this new government so that you can extend close cooperation to the government in the interest of the country so that our country can once again be on the road to becoming a developed nation in 2025,” he said.

Dr Mahathir said the cooperation of the civil servants is necessary for them to understand the problems the country faces, including the over RM1 trillion debts that have made the country’s financial situation most diffi cult.

“Th at’s why we were forced to cancel mega programmes that the previous government initiated, scheduled or implemented. We have had to reduce the expenditure on these huge projects. If we were to terminate the old contracts, we will have to pay compensation,” he said.

He said a portion of the country’s income has to be used to pay the country’s debts, which cause the

government to pay lesser attention to national development.

“I hope we can be patient. If we cooperate in an atmosphere of peace and calm, then we can restore the fi nancial position and develop our country.

“It is not easy to pay off RM1 tril-lion debts. All the people, including government servants, have to tight-en our belts a little so that we can reduce the normal expenses and pay the debts,” he said.

“InsyaAllah (God willing), we will be able to settle our debts and, after that, the government income will rise and can be used to help with the cost of living of the peo-ple, especially those working with the government,” he said.

Dr Mahathir said a high income will mean nothing if the prices of goods rise more than the salary increases.

“For us, what is more important is to provide a salary that can buy more than before … it is for this rea-son that the present government is

‘No plans to buy aircraft from China yet’SERDANG: Th e government has no plans to buy aircraft from China as of now, said Prime Minister Tun Dr Mahathir Mo-hamad.

Responding to a question on his statement on Sunday that Ma-laysia could retaliate by looking at buying fi ghter jets from China if the European Union continues its discriminatory stance against Malaysian palm oil, Dr Mahathir explained that the statement is

still at the suggestion level.“It was only a suggestion; we

have not made any decision yet. Also, we may not buy any jets at all,” he told reporters after at-tending the “Cuepacs premier assembly with the Prime Min-ister” here yesterday.

Asked if there are specific products from China that he is looking at, Dr Mahathir said: “Th ere are a lot of products we can buy.” — Bernama

Zuraida: Govt reviewing state-off ered lands for aff ordable housingBY A D A M A Z I Z

BY C H E S T E R TAY

Zuraida added that the gov-ernment has issued requests for proposals for at least three hous-ing projects. However, she did not elaborate on whether the lands involved were offered by state governments, or land sizes of-fered so far.

On steps to keep affordable housing prices low, Zuraida re-vealed that the ministry has re-quested utility companies, in-cluding electricity, water and telecommunications, to absorb the cost for development of re-spective utility infrastructure to reduce capital contributions and, ultimately, housing prices.

Other steps taken by the gov-ernment include giving sales and service tax exemptions for building materials, emphasising the use of cheaper and speedier industrial building system, and seeking lower costs of acquiring lands, such as through requests to state governments.

Under the 2018-2025 Nation-al Housing Policy, the govern-ment has set a target to develop up to 100,000 units of affordable homes annually between now and 2025, with each unit costing below RM300,000.

reviewing the country’s fi nancial procedures,” he said.

Th e prime minister said he is confi dent that civil servants will be with the government in help-ing restore the country’s fi nancial position so that “the ringgit will be stronger and [we] can buy more

goods than before”.“We believe that to reduce the

cost of living and raise the pur-chasing power, we need to raise the efficiency and discipline of the members of the present gov-ernment administration,” he said. — Bernama

MAHB share price beaten down as uncertainties loom

KUALA LUMPUR: Malaysia Air-ports Holdings Bhd (MAHB) be-came the selling target yesterday. Its share price plunged as much as 10.3% to an intraday low of RM6.90 but it managed to recoup some losses to close at a two-year low of RM7.33.

Investment analysts were puz-zled with the fi erce selling given that most of them, who track the airport operator, are recommend-ing the stock to clients.

According to Bloomberg data, the counter has 14 “buy” calls, six “hold” calls, and one “sell” call, with consensus target price (TP) at RM9.33.

Phillip Capital Management Sdn Bhd chief investment offi cer Ang Kok Heng commented that investors could be overreacting to the news fl ow, which he cautioned that several uncertainties have cast a shadow on the airport operator.

“There are some uncertain-ties surrounding MAHB, as the government is looking into new ways to operate airports in Malay-sia, [and] there is also this RM400 million litigation between MAHB and AirAsia X Bhd,” said Ang.

The news flow related to MAHB has been non-stop in re-cent months. It started off with the proposal in Budget 2019 on [the] setting up [of] an airport real estate investment trust, followed by Transport Minister Anthony

RM

6

7

8

9

10

March 6, 2017 March 25, 2019

Malaysia Airports Holdings Bhd

RM7.33

Loke indicating that the government was mulling lowering the passenger service charge (PSC) to make air travel more aff ordable. Th e airport operator later got into a legal dispute with AirAsia X.

Th e most recemt news is that the government has confi rmed allowing a third party to build and operate a new airport in Kulim, Kedah. Such news is perceived by some quarters

as a move to liberalise the airport management business, which is currently dominated by MAHB.

Meanwhile, MAHB is in the midst of negotiating with the gov-ernment for a regulatory asset base framework, which would outline a new ceiling price for the PSC that commensurates with the required capital expenditure by the airport operator in future.

Yesterday, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali stressed that the gov-ernment can no longer aff ord to build airports even though there is a need for them. “With partic-ipation of the private sector, we need to have a new framework to regulate their participation in de-veloping airports,” he said.

However, Maybank Investment Bank aviation analyst Mohshin Aziz pointed out that MAHB’s share price has not moved much last week when the government an-nounced that it would allow the private sector to build a new air-port in Kulim.

“It was strange ... many people have called to ask me about the sudden selldown,” said Mohshin when contacted but he added that there was no new selling impetus yesterday.

MAHB share price has been dropping since August last year, down 25% from a high of RM9.80. Th e average TP among the analysts covering the stock is RM9.33, 27% upside from the current level.

The govt is looking into new ways to operate airports,

[and] there is also this RM400m litigation between MAHB and

AirAsia.

H O M E B U S I N E S S 5TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

Ananda said to be near US$500m loan dealIt will give Bumi Armada more time to restructure

KUALA LUMPUR: Sapura Energy Bhd has returned to the black in the fourth fi nancial quarter ended Jan 31, 2019 (4QFY19), thanks to a whopping RM2.66 billion one-off divestment gain.

Th e oil and gas giant booked in a RM1.41 billion impairment on its drilling, and engineering and construction (E&C) assets, plus a RM108.4 million impairment on goodwill in 4QFY19.

Th e disposal gain of RM2.66 bil-lion, however, helped to off set the impairment of RM1.5 billion, accord-ing to its fi ling with Bursa Malaysia.

Consequently, Sapura Ener-gy posted a quarterly net profi t of RM500.43 million compared to a net loss of RM2.29 billion a year ago.

Th e divestment gain came from selling a 50% stake in its exploration and production (E&P) business, through a strategic partnership with OMV Aktiengesellschaft in November last year.

At the operation level, the group’s loss before taxation and impairment from operation swelled to RM677.46 million compared with RM177 million in the previous cor-responding quarter.

A bright spot is the group’s quar-terly revenue expanded 64.5% to

BY E L F F I E C H E W

KUALA LUMPUR: Malaysian billion-aire T Ananda Krishnan’s (pic) Bumi Armada Bhd is nearing an agree-ment for a loan of around US$500 million (RM2.04 billion), people with knowledge of the matter said, in a deal that will give the embattled energy fi rm more time to restructure.

Banks are fi nalising details of a fi ve-year credit facility, according to the people, who asked not to be identifi ed because the information is private.

Th e funds will be used to refi -nance existing debt that matures in May and for working capital, one of the people said.

Bumi Armada swung to a loss last year as lower crude prices hurt demand for its off -shore oilfi eld services, mak-ing it more diffi cult for the

company to pay back its debt. Th e company had US$2.5 billion of total borrowings at the end of December, data compiled by Bloomberg show.

Th e loan would give Bumi Ar-mada breathing room to sell assets and restructure its business in a bid to return to profi tability, one of the people said. Th e company is expected to sign the loan agree-ment with lenders as soon as the next few weeks, the people said.

On Bursa Malaysia, Bumi Arma-da rose one sen to close at 19.5 sen yesterday.

“Th e company has stated that it is working with the lenders

and aims to have a re-fi nancing of the cor-

porate debt in place by the end of April. Th at remains the current position,” a representative for

Bumi Armada said, declining to com-

ment further.

Sapura Energy’s losses narrowed by RM2.66b disposal gain

RM1.49 billion in 4QFY19 from RM902.7 million in 4QFY18, on higher revenue from its E&C busi-ness segment.

Th e quarterly net profi t has ena-bled the group to record a net profi t of RM207.55 million compared to a net loss of RM2.5 billion in the pre-vious year. Th e group has declared a special dividend of 0.5 sen per share for FY19, payable on June 24.

Its annual revenue fell 9.5% to RM4.57 billion from RM5.05 billion in FY18, primarily due to the lower revenue from the E&C and drilling business segments.

In a separate statement yester-

day, Sapura Energy president and group chief executive offi cer Tan Sri Shahril Shamsuddin said despite the challenging year, the company had successfully completed two major corporate exercises, raising approximately RM7.6 billion.

“Th is has enabled us to reduce our net gearing to a healthy 0.6 time and provided the fi nancial fl exibility for the group to bid for and execute higher value projects, in addition to gaining a strong partner in our E&P business. We are confi dent that our eff orts in FY19 have paved a brighter future for the group,” he said.

On prospects, Sapura Ener-gy said its current order book of RM17.2 billion is at its highest in two years.

Th e group is bidding for larger and higher-value projects globally, it said.

The value of cumulative new contract wins in FY19 stood at RM9.3 billion, with notable engi-neering, procurement, construc-tion, installation and commis-sioning awards in its core markets, including the Pegaga gas develop-ment by Mubalada Petroleum, KG-DWN 98/2 NELP block by Oil and Natural Gas Corp Ltd and Hokchi Field Development in the Gulf of Mexico.

BY TA N X U E Y I N G

KUALA LUMPUR: Trading fl oors were shaken in Asia yes-terday as fears of a more wide-spread global downturn height-ened last week, after remarks by the US Federal Reserve (Fed) sent the 10-year Treasury yields to its lowest since early 2018.

The fear that gripped in-vestors yesterday was fuelled further when data showed preliminary measures of manu-facturing and services activities in the US grew at a slower pace this month than in February, Reuters reported.

The bearish sentiment spilled over to Asia yesterday, most notably in Japan where the Nikkei 225 plunged 3.01% at its close. South Korea’s Kospi declined 1.92%. In China, the Shanghai Stock Exchange Com-posite Index was 1.97% low-er, while the Hong Kong Hang Seng Index retreated 2.03%.

Back home, the bellwether FBM KLCI shed 17.51 points or 1.05% to close at 1,649.15 points yesterday — its lowest close since Dec 18, 2018. It had earlier sank to an intra-day low of 1,648.06 points.

Th e KLCI appeared rather resilient as it held up with a 1% drop, while most major Asian indices had fi nished yesterday with a 2% to 3% decline.

Malaysia Airports Holdings Bhd led the sharp fall in the com-posite index as it sank 36 sen or 4.68% to close at RM7.33. It also contributed to 1.53% decline in the transportation index.

All other sub-indices fin-ished the trading day in nega-tive territory yesterday. Nota-bly, the FBM Small Cap Index lost 156.18 points or 1.22% to close at 12,649.64 points.

Losers outnumbered gain-ers at 684 versus 191, while 335 counters settled unchanged at market close.

Topping the most actives’ list yesterday was Sapura En-ergy Bhd. Th e group declared a special dividend of half a sen per share and it announced the fi rst profi table quarter after six consecutive quarterly loss. Sapura accounted for nearly 13% of the market’s trading vol-ume after 357.87 million of its shares changed hands.

Other energy stocks, for in-stance, Bumi Armada Bhd and Dayang Enterprise Holdings Bhd, made it to the list as well. As crude prices edged lower yesterday to-wards the US$65-(RM265.55) lev-el, the ringgit pulled back against the greenback to trade at 4.0690 as of writing.

Speaking to The Edge Fi-nancial Daily, MIDF head of research, Mohd Redza Abdul Rahman, said the investors were concerned there is a 30%

Asian markets spooked by economic concerns in the West

chance the US economy will head into recession in the next 12 to 18 months, judging from the declin-ing performance of major Chinese economic indicators, leading up to a slew of stimulus announce-ments, as well as US yield curve inversion.

“While it seems quite unprec-edented this time around — con-sidering that the central banks are also a party involved in the bonds buyback — it is generally a concern given that there are other issues that could also cause the balance to tip towards recession,” he added.

Mohd Redza said the Asian markets’ movements, including Malaysia’s, could be further im-pacted given that the stock index futures are pointing towards a lower start on Wall Street.

However, bargain hunters may emerge. Interests in small- and mid-capitalised stocks on Bursa Malaysia are still strong, judging from the volume traded of 2.78 billion shares worth RM1.74 bil-lion, he added.

Meanwhile, a senior equity markets analyst, who declined to be named, said the current weakness is likely to persist for several days.

“The fall in Bursa Malay-sia today is in tandem with the weakness across all regional eq-uity markets, which in turn was spooked by fears of a potential global economic recession. Th e weak economic data, as well as a change in the tone of the US Federal Reserve with regards to interest rates sparked the sell-down, which started last Friday.

“Th ere is some basis for the concerns [of a recession]. Ger-many recently reported a very weak set of gross domestic prod-uct numbers and Italy narrowly escaped a recession.

“And of course, the ongoing US-China trade war will only make things worse. Although the data in the US is still mixed, it was enough to make the guys at the Fed turn more dovish,” added the analyst, who expects investors to be on a “risk-off mode”.

INDEX DAY YTD CHANGE CHANGE (%) (%)

FBM KLCI -1.05 Nikkei 225 -3.01 Topix -2.45 Hang Seng -2.03 ShanghaiComposite -1.97 Kospi -1.92 Kosdaq -2.25 FTSE Straits Times -0.91 Thailand SET -1.24 Jakarta Composite -1.75 Philippines PSEi -1.88 Data as at March 25, 6pm (GMT+8)Source: Bloomberg

-2.454.815.585.87

22.025.097.633.723.893.505.32

KLCI versus its peers

Sapura Energy Bhdquarterly earnings

Net profit/loss (RM mil)

4QFY

18

1QFY

19

2QFY

19

3QFY

19

4QFY

19

-2,2

85.5

3

-135

.73

-126

.06

-31.

09

500.

43

1,000

0

-1,000

-2,000

-3,000

Debt concernsLocal brokerage JF Apex Securities Bhd cut its recommendation on the stock this month to “hold” from “buy” over concerns about its debt refi nancing as well as execution risks and lower crude oil prices.

It was also recently downgraded by CIMB Group Holdings Bhd and Macquarie Group Ltd.

Shares of Bumi Armada tanked 80% last year, while the benchmark FTSE Bursa Malaysia KLCI declined 5.9%.

Th e company reported a net loss of RM2.3 billion in 2018, compared to a net income of RM352.2 million a year earlier.

Bumi Armada had RM1.58 billion of unsecured short-term loans at the end of last year, and is in discussions with lenders about refi nancing the debt with long-term borrowings, ac-cording to a February exchange fi ling.

Th e company is planning to sell assets, optimise its cost structure and pursue collections from cus-tomers to strengthen its cash fl ow, the fi ling showed.

Ananda is Malaysia’s fi fth-richest person with a net worth of about US$4.5 billion, according to the Bloomberg Billionaires Index. — Bloomberg

BLOOMBERG


Public Mutual biggest winner at the 2019 Lipper Fund Awards from Refi nitiv

KUALA LUMPUR: Public Mutual Bhd repeated its winning feat by bagging 28 fund awards and one group award at the 2019 Lipper Fund Awards from Refi nitiv yester-day. It broke the record for the most number of Lipper Fund awards won by a single company in a year.

Its chief executive offi cer (CEO) Yeoh Kim Hong said the fund house is very happy and proud of this achievement.

“The credit goes to our team of fund managers who have been working tirelessly to navigate the challenges last year. We would like to take this opportunity to express our gratitude to our unit trust con-sultants and unitholders for sup-porting us all these years,” she said.

Th e second biggest winner was Eastspring Investments Bhd, which won 12 fund awards and one group award. Other group award winners were Affi n Hwang Asset Manage-ment Bhd, RHB Asset Management Sdn Bhd and Maybank Asset Man-agement Sdn Bhd (MAMSB).

Th is marks the fi rst Lipper award for MAMSB which won one fund award and one group award. Its CEO Ahmad Najib Nazlan attributed the success to a strong team and good investment process.

“Th e whole team is quite excited (over the win). I think it’s timely for us because we just completed a lot of corporate restructuring after the acquisition of Amanah Mutual Bhd and Singapore Unit Trusts Limited. Winning the award was a nice gift

It repeats winning feat by bagging 28 fund awards and one group award

BY P E R S O N A L W E A LT H T E A M

2019 WINNERS LIST

GROUP AWARD WINNERSBest Bond Group (Provident)RHB Asset ManagementSdn BhdBest Equity GroupMaybank Asset Management Group BhdBest Equity Group (Provident)Eastspring Investments BhdBest Equity Group (Islamic)Public Mutual BhdBest Mixed Asset Group (Provident)Affi n Hwang Asset Management Bhd

INDIVIDUAL AWARD WINNERS DURATION: THREE YEARSBond MYRPublic Enterprises BondBond MYR (Provident)Libra BondEXTRABond MYR (Islamic)PB Aiman SukukEquity Asia-Pacifi cPublic Far-East Alpha-30Equity Asia-Pacifi c (Provident)PB Islamic Asia Strategic SectorEquity Asia-Pacifi c ex JapanPB China Asean EquityEquity Asia-Pacifi c ex Japan (Provident)Affi n Hwang Select APAC ex-Japan Dividend MYR Equity Asia-Pacifi c ex Japan (Islamic)Maybank Asiapac Ex-Japan Equity-IEquity Global (Provident)Public Global SelectEquity MalaysiaAreca equityTrustEquity Malaysia (Provident)AmMalaysia EquityEquity Malaysia (Islamic)PMB Shariah Premier

Equity Malaysia Diversifi ed (Provident)Affi n Hwang Select OpportunityEquity Malaysia IncomePB Dividend Builder EquityEquity Malaysia Income (Provident)Hong Leong DividendEquity Malaysia Income (Islamic)Public Islamic DividendEquity Malaysia Small and Mid-CapPublic Select Treasures EquityEquity Malaysia Small and Mid-Cap (Provident)Eastspring Investments Small-capEquity Malaysia Small and Mid-Cap (Islamic)Public Islamic Select TreasuresMixed Asset MYR Balanced-Global (Provident)Affi n Hwang Select BalancedMixed Asset MYR Balanced-MalaysiaTA IncomeMixed Asset MYR Balanced-Malaysia (Provident)AmBalancedMixed Asset MYR Balanced-Malaysia (Islamic)Public Islamic Growth BalancedMixed Asset MYR ConservativePB Mixed Asset ConservativeMixed Asset MYR Conservative (Provident)Eastspring Investments Asia Select IncomeMixed Asset MYR Conservative (Islamic)Public Ehsan Mixed Asset ConservativeMixed Asset MYR FlexibleManulife Investment-CM Flexi

Mixed Asset MYR Flexible (Provident)Manulife Investment-HW FlexiMixed Asset MYR Flexible (Islamic)Public Islamic Asia Tactical Allocation

DURATION: FIVE YEARSBond MYRPublic Enterprises BondBond MYR (Provident)Libra BondEXTRABond MYR (Islamic)RHB Islamic BondEquity Asia-Pacifi cPB China Pacifi c EquityEquity Asia-Pacifi c (Provident)PB Islamic Asia Strategic SectorEquity Asia-Pacifi c ex JapanPB China Asean EquityEquity Asia-Pacifi c ex Japan (Provident)Manulife Investment Asia-Pacifi c Ex JapanEquity Asia-Pacifi c ex Japan (Islamic)Public Islamic Asia Leaders EquityEquity Global (Provident)CIMB-Principal Global TitansEquity MalaysiaAreca equityTrustEquity Malaysia (Provident)Hong Leong Penny StockEquity Malaysia (Islamic)PMB Shariah PremierEquity Malaysia Diversifi ed (Provident)Affi n Hwang Select OpportunityEquity Malaysia IncomePublic Dividend SelectEquity Malaysia Income (Provident)Hong Leong Dividend

Equity Malaysia Income (Islamic)Public Islamic SavingsEquity Malaysia Small and Mid-Cap (Provident)Eastspring Investments Small-capMixed Asset MYR Balanced-Global (Provident)TA Asia Pacifi c Islamic BalancedMixed Asset MYR Balanced-MalaysiaTA IncomeMixed Asset MYR Balanced-Malaysia (Provident)Hong Leong BalancedMixed Asset MYR Balanced-Malaysia (Islamic)Dana Makmur PheimMixed Asset MYR Conservative (Provident)Eastspring Investments Asia Select IncomeMixed Asset MYR FlexiblePublic Tactical AllocationMixed Asset MYR Flexible (Provident)Eastspring Investments DynamicMixed Asset MYR Flexible (Islamic)Public Islamic Asia Tactical Allocation

DURATION: 10 YEARSBond MYRPublic BondBond MYR (Provident)RHB Islamic BondBond MYR (Islamic)RHB Islamic BondEquity Asia-Pacifi c (Provident)Public Asia IttikalEquity Asia-Pacifi c ex JapanPB China Asean Equity

Equity Asia-Pacifi c ex Japan (Provident)CIMB-Principal Equity IncomeEquity Global (Provident)Public Global SelectEquity MalaysiaAreca equityTrustEquity Malaysia (Provident)Eastspring Investments Dana al-IlhamEquity Malaysia (Islamic)Eastspring Investments Dana al-IlhamEquity Malaysia Diversifi ed (Provident)Affi n Hwang Select OpportunityEquity Malaysia IncomePublic Dividend SelectEquity Malaysia Income (Provident)Eastspring Investments Equity IncomeEquity Malaysia Small and Mid-Cap (Provident)Eastspring Investments Small-capMixed Asset MYR Balanced-Global (Provident)Affi n Hwang Select BalancedMixed Asset MYR Balanced-Malaysia (Provident)Dana Makmur PheimMixed Asset MYR Balanced-Malaysia (Islamic)Dana Makmur PheimMixed Asset MYR Conservative (Provident)Eastspring Investments Dana al-IslahMixed Asset MYR Flexible (Provident)Eastspring Investments Dana DinamikMixed Asset MYR Flexible (Islamic)Eastspring Investments Dana Dinamik

CON T INUES NEXT PAGE

Group award winners posing with Carroll (extreme left), Badrul Hisham (second from left), Wong (centre) and Ho (extreme right). Photo by Shahrin Yahya




It is likely to wipe out a bulk of the construction outfi t’s earnings

BY J U S T I N L I M

BY A R J U N A C H A N D R A N S H A N K A R

Fund managers urged to educate investors about benefi ts of SRI

KUALA LUMPUR: Fajarbaru Build-er Group Bhd announced that it has estimated an impairment of trade receivables of RM20.37 million and contract assets of RM8.15 million for the fi nancial year 2019 (FY19) ending June 30, 2019, as a result of the winding-up order on one of its clients — TYL Land & Development Sdn Bhd.

Th e impairment is likely to wipe out a bulk of Fajarbaru’s earnings based on its fi nancial results for the fi rst half of FY19 (1HFY19) ended Dec 31, 2018.

The construction outfit posted a net profi t of RM14.81 million for 1HFY19, down sharply from RM27.48 million a year ago. Revenue declined nearly 30% to RM167.57 million against RM238.19 million.

In July 2017, Fajarbaru secured a RM101.3 million contract to com-plete the remaining building works of a commercial development for TYL in Semenyih.

TYL is the developer of L’Marq, a mixed development in Semenyih that sits on 2.7 acres (1.09ha) and includes residential units. Th is is the developer’s maiden project.

In the latest fi ling with Bursa Ma-laysia, Fajarbaru said it has taken steps to relocate resources to other

KUALA LUMPUR: George Kent (Malaysia) Bhd’s net profi t for the fourth quarter of fi nancial year 2019 (4QFY19) fell 64.81% to RM18.25 million, from RM51.85 million a year earlier, due to lower contribu-tion from its engineering segment.

Revenue for the quarter end-ed Jan 31, 2019 dropped 33.78% to RM114.5 million, from RM172.92 million previously.

Th e group said the engineering segment’s quarterly profi t fell 47% to RM38.87 million from RM73.98 mil-lion, while revenue was down 43% to RM79.64 million from RM139.64 million.

Th e group also incurred an un-realised foreign exchange (forex) loss of RM680,000, it said in its fi ling with Bursa Malaysia.

Th e group has declared a third in-terim dividend of 3.5 sen per share, payable on April 30.

projects to reduce the impact on operations.

“Th e board will take all possible actions to mitigate the fi nancial and operational impacts,” it added.

To recap, Fajarbaru last Th ursday received the winding-up order from the Kuala Lumpur High Court and said that it was seeking legal advice on the options that were available to the group.

As at Dec 31, 2018, the total cer-tified sum for works done owing by TYL to Fajarbaru’s subsidiary Fajarbaru Builder Sdn Bhd (FBSB) was RM20.37 million, with a further estimated uncertified amount of

RM8.15 million, it said.It also noted that FBSB is ascer-

taining any additional loss and dam-age claimable against TYL in rela-tion to the contract arising from the winding-up.

Fajarbaru previously expected the contract, which had a tenure of 27 months, to contribute positively towards the group’s earnings and net assets for its FY18 to FY20.

Specifi cally, the project entailed building and related external works of two towers (26 and 15 storeys), two storeys of shops housing 48 units, two storeys of offi ces housing 24 units and a fi ve-storey elevated car park.

For the full FY19, net profi t fell 31.74% to RM84.92 million, from RM124.4 million in FY18.

Full-year revenue decreased 30.19% to RM430.75 million from RM616.99 million previously.

Th e group attributed the lower FY19 revenue and net profi t to re-duced contribution from its engi-neering segment. However, there was an unrealised forex gain of RM6.64 million.

George Kent chairman Tan Sri Tan Kay Hock said the group’s results are “credible” given the renegoti-ation, suspension and deferment of the Light Rail Transit 3 project.

“Against this backdrop, the group is committed to delivering on our existing order book and is staying sure and steadfast about imple-menting its strategic plan to broaden its income base.

“Th is entails substantial invest-ment of resources, both human and fi nancial, into growing its metering

and other water-related businesses and investments. As things stand, demand for water meters has and continues to outstrip supply,” Tan said in a statement.

George Kent said it is continu-ing its eff orts to broaden its income base, in particular by allocating more resources for the expansion of its metering business both within Malaysia and regionally.

The group said its automated meter reading solution is current-ly undergoing pilot testing and is set for commercialisation later in the year.

It added that it is also on the look-out for opportunities in regional railways, especially through inter-national collaborations with other companies via joint ventures in the regional railway space.

Shares in George Kent closed 2.68% or three sen lower at RM1.09 yesterday, with a market capitalisa-tion of RM630.86 million.

to start off the year,” he said.In his keynote address, Eu-

gene Wong, managing director of corporate fi nance and invest-ments at Securities Commission Malaysia, said fund managers must educate investors about the benefi ts of socially respon-sible investing (SRI) and create more SRI investment oppor-tunities. Th is is driven by the increasing demand for such products, especially from the millennial generation.

“It is clear that sustainability is becoming more important by the day. In the United States, assets under management us-ing sustainable and responsible investing strategies grew from US$8.7 trillion in 2016 to US$12 trillion in 2018, representing 26% of assets under manage-ment. Th e European Sustaina-ble Investment Forum reports that growth in the European SRI retail market increased by 800% from 2013 to 2018,” Wong said. Assets and businesses that damage the environment may eventually lose their econom-ic value or have to be impaired and stranded, he added.

Technology is also disrupting the fund management industry, with studies forecasting that passive investing is expected to take over active investing in some markets. But Wong be-lieves that actively-managed funds still have an important role to play in fi nancial markets.

“Actively-managed funds support fair valuation through investment research. Th is re-search benefi ts the entire mar-ket and passive funds them-selves. The participation of actively-managed funds in in-itial public off erings helps cap-ital formation and price discov-ery. Actively-managed funds can also help promote good governance if they monitor their investments and exercise their voting rights,” he said.

Fund managers must relook at how they can draw investors with their value proposition, Wong added, including a re-view of how returns and costs are matched.

Xav Feng, director of Lipper Asia Pacifi c Research, Refi nitiv, said there was a total continu-ing net infl ow of US$532 bil-lion in the global fund markets last year.

“Money markets posted the largest net infl ow for 2018 with US$237 billion, equity with US$175 billion and mixed asset with US$117 billion,” Feng said. But huge fl uctuations occurred in the fourth quarter, with the bond, equity and mixed asset categories all posting net out-fl ows for that quarter.

As for the key regions, the US saw the largest net infl ow of funds in 2018. Th e top sectors for net infl ows were money mar-ket (USD) and global equities excluding US equities. High-yield bonds (USD) posted the highest net outfl ow.

“As for Malaysia, after near-ly US$10 billion net infl ows for 2017, there was a total net infl ow of US$5.3 billion in 2018. Th e sector that enjoyed the highest net infl ow was money markets (MYR) and Asia-Pacifi c equities excluding Japan,” Feng said.

Th ere was no overall group winner this year because none of the companies met the crite-ria for the award. According to Feng, an overall group winner has to win at least three equity, three bond and three mixed as-set awards with over three years of historical performance.

Among the reasons contrib-uting to this situation include the liquidation or merging of funds, Feng added. “We also did a reclassifi cation of some funds because we are reviewing Malaysia’s (funds) classifi cation and portfolio.”

Th e Edge Media Group pub-lisher and group CEO Datuk Ho Kay Tat said in his welcome speech that in 2018, fund man-agers shared their views with Th e Edge readers on how to nav-igate through the ongoing ge-opolitical tensions and market volatility.

“Th is year, they see worries surrounding the US-China trade war and Brexit uncertainties dictating the direction of the markets and asset prices. On the local front, investors are waiting to see further clarity on government policies and their plans going forward. In the midst of this, many experts remain positive that there will be sweet spots for investors to preserve, grow and manage their wealth,” he said.

Apart from Wong and Ho, Badrul Hisham Dahalan, head of quantitative and performance analysis department at the Em-ployees Provident Fund and Steven Carroll, head of Asean at Refi nitiv were also presenters at the awards.

Th is year, a total of 79 awards were given, encompassing fi ve group awards, 20 awards for conventional funds, 36 awards for provident funds and 18 awards for Islamic funds.

Following the rebranding of Thomson Reuters to Refinitiv, the awards is now known as the Lipper Fund Awards from Refi n-itiv, with Th e Edge Malaysia as its offi cial presenter. Th e 2019 awards marks the 20th year of collabora-tion between Th e Edge Commu-nications Sdn Bhd and Refi nitiv.

An in-depth coverage of the event and winning companies will be available in the April 1 issue of The Edge Malaysia weekly.

It is clear that sustainability is becoming

more important by the day.

An artist’s impression of L’Marq, TYL’s maiden project.

FROM PREV I O U S PAGE


Samsung seeks more premium market share with new QLED TVs Increasing large-screen models is part of its strategy arising from shifting consumer demands

BY A R J U N A C H A N D R A N S H A N K A R

KUALA LUMPUR: French aircraft manufacturer Airbus, expecting Ma-laysia to remain a focal point in its supply chain, is looking to increase the value of its supply, source and maintenance, repair and overhaul (MRO) operations here to US$550 million (RM2.24 billion) a year by 2023, driven by robust demand for aircraft in the region.

Last year, its Malaysian opera-tions were valued at US$400 million (RM1.62 billion), according to Air-bus Asia Pacifi c president Jean-Marc Nasr at yesterday’s media briefi ng on the group’s business here. Nation-wide, the group currently employs 4,000 people, and wants to raise the number to 5,200 in four years.

He said Asia-Pacifi c is seeing a higher passenger traffi c growth, which is expected to boost demand for aircraft production and MRO services.

“We expect annual growth in passenger traffi c of 5.5% a year in Asia-Pacifi c, compared with 4.4% worldwide. Asia-Pacifi c is growing faster than the rest of the world, hence why we’re seeing a growth,” said Nasr, adding the trend is ex-pected to continue for 20 years.

This is why the group remains

Airbus aims to raise Malaysian ops value to US$550m by 2023

“100% committed to growing our presence in Malaysia, fi rmly believing the country’s aerospace industry’s potential to become one of the larg-est in the region”, according to Nasr.

Airbus Malaysia country head Raymond Lim, also the chief execu-tive offi cer of Airbus’ wholly-owned MRO outfi t — Sepang Aircraft Engi-neering Sdn Bhd — said the region’s estimated need of about 20,000 air-craft in 20 years, versus its current

7,000 aircraft, would boost MRO operations and drive demand for more skilled workers.

Lim also said the group is seeking to grow its helicopter MRO segment by conducting more complex MRO works via its helicopter unit here, Air-bus Helicopters Malaysia Sdn Bhd. “We have made a signifi cant invest-ment in making Airbus Helicopters a complex repair centre for the region.”

He cited the group’s new helicop-ter completion and delivery centre here is set to open in May, and that the group is looking to produce 20 helicopters a year from the centre.

On the group’s order book, Airbus Asia Pacifi c head of communications Sean Lee said Airbus now has 727 aircraft orders in Malaysia, of which 278 planes have been delivered.

Of the total, AirAsia has ordered 592 aircraft, AirAsia X (96) and Malaysia Airlines (39). Of these, 219 units have been delivered to AirAsia, 20 to AirA-sia X, and all 39 to Malaysia Airlines.

Malaysia is Airbus’ largest sup-ply base in Southeast Asia, and the group’s fi fth-largest supply base for composite parts globally, ac-cording to Nasr. At the Langkawi International Maritime and Avia-tion Exhibition from today to Sat-urday, Airbus will be the largest international exhibitor.

SINGAPORE: Samsung Electron-ics Co Ltd has unveiled its latest range of QLED TVs, leveraging on cutting-edge technology including artifi cial intelligence and the Inter-net of Th ings, as it aims to continue growing its share in the premium television market.

“At Samsung, we believe our latest innovation off ers more than what we can see and experience. With the new products and features announced today (yesterday), we’re unlocking the potential by making our consumers’ lives more seam-less and connected.

BY A H M A D N A Q I B I D R I S “We will remain committed to providing new experiences that exceed our consumers’ expecta-tions in the region,” said Samsung Electronics Singapore president Eugene Goh at the Samsung Fo-rum 2019 yesterday.

At the event, the group an-nounced its entire line of QLED TVs to be sold in more than 60 markets this year, with the group aiming to increase its market share in the 8K TV market as it continues to sus-tain its leadership in the premium TV segment.

The 2019 QLED key products unveiled include the 8K Q900R, with 65-inch to 98-inch screen siz-

es, while the 4K Q90R, Q80R, Q70R and Q60R come with 43-inch to 82-inch screen sizes. Th e new line-up features over 20 models with more ultra-large TV models.

“Increasing the number of large-screen models in its TV line-up is part of a wider strategy at Samsung, arising from shifting consumer demands.

“According to global business in-formation provider IHS Markit, the market for 75-inch or bigger TVs re-corded 2.1 million units in 2018, with 43% growth to three million units expected this year and to 5.8 million units by 2022,” said Samsung Elec-tronics regional head of TV, South-

east Asia and Oceania Simon Sim.Samsung Smart TVs will also

off er a new iTunes Movies and TV Shows app along with the Apple AirPlay 2 support, providing more entertainment options and greater open platform functionality.

The group’s new lifestyle TVs dubbed “Th e Frame”, transforming into an art display when the screen is not in use; and “Th e Wall”, a mas-sive 219-inch microLED display, were showcased as well.

Other displays included Sam-sung’s new connected solutions, based on its digital assistant technol-ogy “New Bixby”, allowing voice con-trol over its new TVs and appliances.


KUALA LUMPUR: Business ap-plication solutions provider Rex-it Bhd has secured a five-year outsourcing services agreement from Great Eastern Takaful Bhd (GETB) to develop, manage and operate the mySalam portal for

Rexit bags fi ve-year deal to develop, operate mySalam portal for Great Eastern Takafuleligible members.

Th e services include developing, operating, managing and maintain-ing the portal for eligible members to access for enquiries and claim submission, Rexit said in a fi ling with Bursa Malaysia yesterday.

Th e agreement, inked yesterday via Rexit’s wholly-owned subsidi-

ary Rexit Software Sdn Bhd, shall commence and take eff ect from Jan 1, 2019 to Dec 31, 2023, irrespec-tive of the date the agreement is executed, said Rexit. Th e contract may be renewed for a further two years or any other specifi c period required by GETB.

“Th e agreement value will be

calculated at RM1.40 per annum per eligible member, subject to a maximum charge of four million members,” said Rexit.

Th is means Rexit would receive a maximum of RM5.6 million annu-ally from this agreement, expected to contribute positively to its earn-ings and net assets per share from

the fi nancial year ending June 30, 2019 until the deal’s expiry.

Th e mySalam national health protection scheme, launched in January, is set to provide some 3.69 million individuals between 18 and 55 years old from the bottom 40% income group nationwide, with free takaful health protection.

Nasr: Asia-Pacifi c is seeing a higher passenger traffi c growth, which is expected to boost demand for aircraft production and MRO services. Photo by Mohd Izwan Mohd Nazam

Hai-O 3Q net profi t down 26% on lower MLM and wholesale revenueBY W O N G E E L I N

KUALA LUMPUR: Hai-O En-terprise Bhd’s third-quarter (3Q) net profit fell 25.92% to RM12.79 million or 4.4 sen per share, from RM17.27 million or 5.95 sen per share a year earlier, dragged by its multi-level marketing (MLM) and wholesale divisions.

Revenue for the quarter ended Jan 31, 2019 fell 16.41% to RM86.16 million, from RM103.07 million previous-ly, the group said in a filing with Bursa Malaysia.

Hai-O attributed the earn-ings decline in the MLM divi-sion to a drop in new mem-bers recruited and lower sales of consumer products. It add-ed that a lower contribution from intersegment sales re-sulted in a lower pre-tax profit in its wholesale division.

For the cumulative nine months ended Jan 31, 2019, Hai-O’s net profit declined 33.91% to RM37.39 million or 12.86 sen per share, from RM56.47 million or 19.5 sen per share a year ago. Revenue was down 26.41% to RM258.41 million from RM351.13 mil-lion.

Hai-O said it expects to re-main profitable amid a chal-lenging environment in the next quarter.

“The MLM division will continue developing more ‘small-ticket’ items at afforda-ble prices, catering for the wider market’s needs,” said Hai-O, adding the division will re-strategise its mem-bers’ recruitment and reten-tion programme to ensure it stays relevant in the market and also to sustain its mem-ber base.

The wholesale division will still solicit more premi-um Chinese medicated prod-ucts and other food items to widen its product base, the group added.

Hai-O also said it would further strengthen business collaborations with strategic partners and Chinese physi-cians to complement its re-tail business and attract more people.

Hai-O shares closed down two sen or 0.73% at RM2.70, with a market capitalisation of RM783.99 million.


KUALA LUMPUR: AWC Bhd an-nounced yesterday it had won the tender from Jabatan Kerja Raya (JKR) to manage Bangunan JB Sentral’s facilities for fi ve years for RM35.1 million.

Under the deal, it will provide housekeeping services for all the blocks occupied by Bangunan JB Sentral in Johor Baru, Johor, from April 1 this year to March 31, 2024. It said its wholly-owned Ambang Wira Sdn Bhd accepted and returned yes-terday the government’s Letter for Ac-ceptance of Tender, dated March 22.

“Th ese terms are to be embodied in a formal contract to be executed between both parties imminently. In the meantime, the tender submit-ted and the Letter for Acceptance of Tender by the government are binding on both parties,” AWC said.

AWC said the new job is in addi-tion to maintenance works by AWC under the concession from the fed-eral government for the Southern Zone (Johor, Malacca and Negeri Sembilan) and Sarawak, from Jan 1, 2016 to Dec 31, 2025.

AWC shares slid 1.5 sen or 1.9% to 77.5 sen yesterday, valuing it at RM220.57 million. Year to date, it has risen over 12%.

AWC wins RM35.1m housekeeping job from JKR


Malaysia seeks new palm oil markets amid EU impasseKok says primary industries ministry is looking at the Middle East and Africa

BY A D A M A Z I Z


BY S U R I N M U R U G I A H

BY C H E S T E R TAY

KUALA LUMPUR: Malaysia has taken steps to explore new mar-kets for its palm oil amid risks of declining demand from Europe, its second-largest market, said Prima-ry Industries Minister Teresa Kok.

Speaking to reporters at the Par-liament lobby yesterday, Kok shared that her ministry, through the Ma-laysian Palm Oil Council, has begun its survey into new markets, namely the Middle East and Africa.

“Deputy Primary Industries Minister Datuk Seri Shamsul [Iskandar Mohd Akin] already

KUALA LUMPUR: After fi ve straight weeks of net selling, international funds fi nally made their way into stocks listed on Bursa Malaysia last week.

According to MIDF Research, the weekly foreign net buying last week has pared the month-to-date foreign net outflow in March to RM1.4 billion.

“Malaysia’s year-to-date (YTD) foreign net outflow of RM1.19 billion or US$292.7 million is no longer the highest among the four Asean markets we monitor as Th ai-land took the spot with a YTD for-eign net outfl ow of US$349.4 mil-lion or above RM1.4 billion,” its analyst Adam Mohamed Rahim said in his weekly fund fl ow report yesterday.

He said based on Bursa data, foreign funds acquired RM86.3 million net of local equities for

KUALA LUMPUR: Scomi En-ergy Services Bhd has bagged two contracts worth US$150 million (RM610 million) from the Kuwait Oil Company for the provision of mud prod-ucts and mud engineering services for deep drilling and development drilling.

Scomi Energy said the five-year contracts will not have any material effect on its net assets for the finan-cial year ending March 31, 2019 (FY19).

“They are expected to contribute positively to the company’s earnings over the period of the contracts,” it added in a filing with Bursa Malaysia.

The contracts, however, are not likely to have an ef-fect on the company’s divi-dend policy, gearing, share capital and the substantial shareholders’ shareholdings for FY19, the company said.

In a separate statement, Scomi Energy chief execu-tive officer Himmy Zaini said the contracts are “testimony of our products and services and the global experience that we have in the drilling fluids product segment”.

“While we have an estab-lished market presence for drilling waste management and drilling fluids in the Middle East, this is our first contract award in Kuwait,” he said.

Kuwait is one of the key markets targeted by Scomi Energy for its business expan-sion. The company said its order book, prior to this con-tract award, stood at US$176 million.

Shares in Scomi Energy closed half a sen or 6.25% lower at 7.5 sen yesterday, giving a market capitalisation of RM175.62 million.

KUALA LUMPUR: Dassault Aviation chose the Sultan Abdul Aziz Shah Airport in Subang to build its main-tenance, repair and overhaul (MRO) hub in Southeast Asia instead of the Seletar Airport in Singapore due to the space available for expansion.

In a media briefi ng yesterday, Dassault’s Asia-Pacifi c president Jean-Michel Jacob told reporters that although Seletar also off ers comprehensive infrastructure for business jet MRO operations, Subang has more space available for future growth.

It also helps that the Malaysian government has identified aero-space “as a strategic industry with wide potential to help the country’s industrialisation and technological

went to Pakistan earlier this year.“In April, we will head to Africa

and countries like Saudi Arabia and Ethiopia. Th ese are new markets for us. Th ey have already import-ed [palm oil from us] but we seek higher imports, which is why we are meeting with their governments [to facilitate this],” said Kok.

She acknowledged that there is a need to quickly capture these mar-kets, considering other competing oil products, like rapeseed oil, have also made entry into several countries eyed by Malaysia to compensate for a possible loss of demand in Europe.

On a related matter, Kok said

she will meet representatives from the European Union (EU) in May to address the possible EU sanction against palm oil.

Th e EU, which is Malaysia’s sec-ond-largest importer of palm oil after India, is in the midst of passing a leg-islation to phase out the use of palm oil as a biofuel by 2030, on grounds that oil palm plantations contribute to deforestation. Th e EU Parliament and its member countries have two months to decide whether to accept or veto the proposed legislation.

In 2018, Malaysia exported a to-tal of 1.91 million tonnes of palm oil to the EU — down 4% from 1.99

million tonnes recorded in 2017 — accounting for 12% of Malaysia's total 2018 palm oil exports, data from the industry regulator Ma-laysian Palm Oil Board showed.

Malaysia’s biggest EU buyers last year were the Netherlands with 912,592 tonnes, followed by Italy with 351,221 tonnes, and Spain with 361,640.

Th e proposed phase-out of palm oil is expected to cut palm oil ex-ports of both Malaysia and Indo-nesia by about 6.5 million tonnes, equivalent to about 9% of total palm oil production, AllianceDBS Re-search guided previously.

MIDF: Foreign funds snap fi ve-week selling streakthe week ended March 22 — the second-lowest weekly foreign net infl ow recorded so far this year.

• Bursa started the week on a strong note as foreign investors bought RM81.5 million net, the largest in a day since Feb 18. Th e infl ux of foreign funds last Monday lifted the FBM KLCI by 0.6% to its highest close in 10 trading days at 1,691 points.

“International funds continued entering the Malaysian market to a tune of RM20.6m net [last] Tues-day coinciding with Brent crude oil price consistently remaining near the US$67 per barrel level following Opec’s commitment to resume out-put cuts 2019,” said Adam.

• However, global funds shifted to the sidelines last Wednesday ahead of the US Federal Reserve (Fed) meeting, resulting in a foreign net outfl ow of RM26.6 million, he noted.

Another concern which sur-rounded markets last Wednesday

was the possible pushback of China against US’ demands even as US President Donald Trump cited that talks were going well.

• Notwithstanding this, Malaysia attracted foreign net infl ows worth RM14.6 million last Th ursday as the Fed implied that it would halt in-terest-rate increases this year and

pivot away from policy tightening. Th e ringgit followed suit to appre-ciate by 0.12% to an eight-month high of 4.061 to the US dollar — the strongest since late July last year.

• A measurable pace of foreign net selling was seen last Friday worth RM3.9 million following Malaysia’s consumer price index which con-tracted by 0.4% year-on-year for the second month in February, continu-ing a defl ationary trend,” said Adam.

Regionally, Adam pointed out that international funds entered Asian markets at a rapid pace last week.

“Based on the provisional ag-gregate data for the seven Asian exchanges that we track, investors classifi ed as ‘foreign’ accumulated US$2.32 billion net last week — the highest weekly foreign net infl ow in four weeks,” he said.

“In emerging Southeast Asian markets that we monitor, more than half experienced foreign net sell-ing,” he added.

Dassault Aviation prefers Subang Airport to Seletar for its space advantagedevelopment”, said Jacob, who views business aviation as an important part of the aerospace industry and a driver for economic growth.

“Business aviation provides a large volume of work in areas like MRO, fl ying schools, catering com-panies, aviation consultants, and fixed based operators. Business aircraft are customised products, so they require highly qualified personnel, and the business comes with higher margins,” he said.

“Malaysia has become an im-portant centre for business aviation thanks to Subang Airport, which is one of the very few capital city airports in Asia largely dedicated to business aviation. Malaysia has also become an important centre for MRO because it has the work-force of skilled and qualifi ed main-

tenance engineers and technicians,” he added.

Jacob said the business jet mar-ket size in Southeast Asia today is about 200 aircraft, of which 60 would be registered in Malaysia, followed by 50 in Singapore, and 48 in Indonesia.

“Th e most popular Dassault air-craft in Malaysia, at this point in time, is the Falcon 7X. But we see a lot of interest in Malaysia for the Falcon 8X. Malaysia is our biggest market in Southeast Asia. We see very good growth prospects in Ma-laysia and the surrounding region for Dassault aircraft,” he said.

Th erefore, Jacob said it is rele-vant for Dassault Aviation to acquire the MRO division of ExecuJet Avia-tion Group globally to strengthen aftersales services for its business

jet. ExecuJet Aviation Group’s busi-ness aviation MRO operation in Ma-laysia is the largest in the country.

Th e briefi ng yesterday was to give an update on Dassault’s busi-ness, following its January acqui-sition of ExecuJet Aviation’s MRO operations globally — at an undis-closed price — in conjunction with the 2019 Langkawi International Maritime and Aerospace Exhibi-tion to be held from March 26 to 30.

According to ExecuJet Malay-sia Sdn Bhd general manager Ivan Lim, who was also present at the briefi ng, the company’s workforce comprises 45 people and is expect-ed to increase to 75 in three years.

“We have a 64,000 sq ft facility in Subang here, and we are maintaining up to 34 aircraft every month. Even before the marriage with Dassault, we

are already in the midst of expand-ing our business, and we expect our capacity to go up to 45 to 50 aircraft a month by year 2020,” he said.

“We started out business in 2009. Every year since, we’ve been grow-ing between 20% and 25%, on av-erage. Operating space will have to increase together with our business, so we are working with Malaysia Airports Holdings Bhd to expand our facility space to about 100,000-150,000 sq ft,” he said.

Currently, Lim said most of the aircraft ExecuJet maintains are from Bombardier Inc and Gulfstream Aer-ospace Corp. “In six to 12 months, we will be adding maintenance ca-pability for Falcon 8X, 7X and 2000. After that, we will look to add oth-er MRO capabilities for Falcon 900 models as well,” he added.

Jan 5,2017

March 22,2019

Aug 3,2018

(RM mil)

Weekly net flow of foreign funds intoMalaysian equities since Jan 2018

Sources: Bursa Malaysia statistics,MIDF Research

-1,500-2,000-2,500-3,000

-1,000-500

0500

1,0001,500

Scomi Energy bags contracts worth RM610m in Kuwait

1 0 H O M E B U S I N E S S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

P RO P E RT Y

One of Aspen’s founding families is selling its mountain mansionBY J A M E S TA R MY


KUALA LUMPUR: K Seng Seng Corp Bhd (KSSC) announced yes-terday the passing of its chairman cum managing director (MD) Koh Seng Kar, who founded the compa-ny some three decades ago.

In an exchange fi ling, KSSC an-nounced the demise of 75-year-old Koh, who was responsible for the company’s strategic business plan-ning and development.

Koh was the largest sharehold-er of KSSC with a 38.5% stake as at April 2, 2018, followed by his deputy and younger brother, Koh Seng Lee, with 16.5%. No successor has been announced to the stock exchange at the time of writing.

Koh started his career in 1980,

K Seng Seng founder, chairman cum MD passes away at 75

when he set up a sole proprietary business involved in the trading of industrial textile and threads.

He then established Vinylon In-dustries Sdn Bhd fi ve years later, and ventured into the trading of marine hardware and consumable industry.

According to KSSC’s website, Koh then led the growth of the company from a modest marine hardware and consumable trading company, to a one-stop supply centre for second-ary stainless steel products.

Th e stainless steel manufacturer was recently slapped with a query on its unusual market activity, when its share price had surged nearly 25% in a day amid heavy trading.

Year to date, the stock has gained about 40%, to be valued at RM43.2 million.


KUALA LUMPUR: Bio Osmo Bhd shareholders have been told to re-ject the takeover bid launched by its largest shareholder, Datuk Seri Farouk Abdullah, which has been deemed “not fair and not reasona-ble” by independent adviser DWA Advisory Sdn Bhd.

In an independent advice circular issued yesterday, DWA Advisory said the off er price of fi ve sen is considered not fair as it is lower than the estimated valuation based on the sum-of-parts valuation method of six to seven sen per share in Bio Osmo, representing a discount of 16.7% and 28.6%.

Th e off er price also represents a discount of about 23.1% over the closing price of Bio Osmo as at the last full trading date (LFTD). It also represents a discount of 16.3%, 7.9% and 1.8% against the fi ve-day, one-month and three-month’s volume weighted average market price of up to the LFTD, said DWA Advisory.

Th e off er is also not reasonable, it said, considering that the off eror intends to maintain the listing status of Bio Osmo and does not intend to invoke the provisions of Section 222 (1) of the Capital Markets and Servic-es Act 2007 (CMSA) to compulsorily acquire any outstanding off er shares for which valid acceptances have not been received prior to the closing date.

“Premised on the above evalua-tion, DWA Advisory is of the opin-

Bio Osmo shareholders told to reject Farouk’s ‘unfair, unreasonable’ takeover


KUALA LUMPUR: SIG Gases Bhd said it has received an off er from Air Liquide Malaysia Sdn Bhd to take over Iwatani-SIG Industrial Gases Sdn Bhd for RM226.59 mil-lion cash.

Iwatani-SIG Industrial Gases is 60% owned by Iwatani Corp (Sin-gapore) Pte Ltd and 40% by SIG Gases’ wholly-owned subsidiary

SIG Gases gets off er to take over Iwatani-SIG

Southern Industrial Gas Sdn Bhd.It is based at the Samalaju Indus-

trial Park in Bintulu, Sarawak, where it supplies nitrogen and oxygen.

SIG Gases said in its Bursa Ma-laysia fi ling yesterday that the pur-chase price is subject to adjustment less bank borrowings plus cash and bank balance, as detailed in the off er letter.

Air Liquide’s off er will remain open for acceptance until Friday.

ion that the off er is not fair and not reasonable,” it added.

To recap, Bio Osmo had on Feb 21 said the mandatory takeover off er by Farouk to acquire the rest of the shares in the group he does not own has turned uncondition-al, following the approval given by the group’s shareholders during an extraordinary general meeting.

Bio Osmo, whose principal busi-ness is in the processing, manufac-turing and selling of drinking water, is expected to rebrand into a hospitality business after Farouk injected hotels parked under his private vehicles into the group, eff ectively triggering a mandatory general off er.

The group had, in April 2018, signed six share sale agreements to acquire hotels under the Impiana brand in Kuala Lumpur, Ipoh, Cher-ating, commercial land in Pangkor, as well as the hotel management com-pany of Impiana, for a total purchase consideration of RM425.9 million.

Th e proposed acquisition entails the issuance of 4.8 billion consid-eration shares, 3.2 billion consid-eration irredeemable convertible preference shares, and a cash pay-ment of RM25.9 million.

Upon receipt of the consideration shares, Farouk’s shareholdings in Bio Osmo will increase to more than 33%, from 19.61% currently. With the completion of these proposals, Bio Osmo plans to change its name to Impiana Hotels (Malaysia) Bhd.

NEW YORK: The industrialist Walter Paepcke is best known for founding the Aspen Institute with his wife Elizabeth in 1949. Th ey developed the downtown through the Aspen Skiing Co, and were largely responsible for putting the former mining town on the map.

But the family’s time in the area was also occupied with more bu-colic pursuits. “My mother loved nature and wildlife and fl owers,” says Paepcke’s daughter, Paula Zurcher, now 90. “We all hiked all over the mountains.”

On one such idyll, the fami-ly stumbled across the 400-acre (161.87ha) Erickson Ranch, just a 10-minute drive from downtown Aspen, and promptly bought it.

They kept the property in-tact until Paepcke died in 1960, at which point Elizabeth sold off about 100 acres. Th e family kept the rest of it for an additional 30 years until Elizabeth died in 1994.

Th en her heirs began to subdi-vide the property in earnest.

One of Zurcher’s sisters sold 100 acres to Leslie Wexner, the founder and chairman of L Brands Inc, says Zurcher. Th e remaining 200 acres were parcelled out into even smaller lots. Zurcher kept two. On one, she commissioned

architect Harry Teague to build a 6,800 sq ft contemporary house with seven bedrooms and fi ve full baths in 2000. It took two years to build.

It had only been intended as a vacation home but she ended up moving in full-time to the house in 2004. Now, 19 years after building the house and more than 70 years after her father fi rst bought the land, Zurcher is parting ways with the property, listing it with Christie’s International Real Estate’s Aspen brokerage for US$17.95 million (RM73.06 million).

Th is section of the original prop-erty is parcelled out in four lots,

all of which are now developed. Th ose lots, in turn, are shoehorned around a 50-acre plot of open land, in which all the lots share owner-ship. Th at land, in turn, is preserved as a sort of buff er, keeping the hous-es secluded and their views pristine.

As a result, even though Zurch-er’s house sits on about 12 acres at the base of Red Mountain, it has the feeling of being much more remote. “I chose the lot so that it was far removed from the road,” Zurcher says. “I didn’t want to see any traffi c.”

Zurcher enjoyed the sprawling home for more than a decade. But after an accident, she decided it was time to sell. She initially put the house on the market in 2015, listing it for US$23.5 million. It has since been on and off the market with a series of price cuts. Th is is fairly normal for the Aspen mar-ket, which has sagged for sever-al years. In the fourth quarter of 2018, the average price per sq ft in Aspen luxury homes continued to slide, according to a report by Douglas Elliman Miller Samuel, while houses took an average of nearly 47 months to sell.

Th e house, Zurcher says, “is for someone who wants to be apart from Aspen and its fanciness but still be able to come down to town in fi ve or 10 minutes.” — BloombergEven though it is close to town, the property feels isolated.

There is a double-height living room.

The house is set on a little

less than 12 acres. Photos by

Bloomberg

1 1TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

1 2 H O M E TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

Charges against Sundra Rajoo deferred to todayKUALA LUMPUR: Former director of the Asian Inter-national Arbitration Centre, Datuk N Sundra Rajoo, who was supposed to have faced three charges of alleged cor-ruption yesterday, will have his case called up at the Ses-sions Court today. His case was registered at the Sessions Court but he was not present before Judge Azura Alwi yes-terday. Deputy public prose-cutor Kamarul Bahrin Omar asked that a warrant of arrest be issued by the court. — By Hafiz Yatim

Muhammad Shafee ordered to attend committal proceedingsKUALA LUMPUR: Senior law-yer Tan Sri Muhammad Sha-fee Abdullah was ordered by the High Court to attend the next committal proceeding initiated by Attorney-General (AG) Tommy Thomas against him. The order was made by High Court Judge Mohd Firuz Jaffril after Muhammad Sha-fee did not make his appear-ance at the High Court yester-day. Senior Federal Counsel Shamsul Bolhassan, who act-ed for the AG, said the Attor-ney-General’s Chambers was only informed by Muhammad Shafee’s lawyers yesterday morning that he was away in Sydney, Shamsul added. — By Paw Ai Chin

Lawyer facing chargeschanges bailorKUALA LUMPUR: Umno law-yer Datuk Mohd Hafarizam Harun, who is facing two counts of money laundering of RM15 million, changed his bailor yesterday following the split up of his legal firm Ha-farizam Wan & Aisha Mubar-ak (HWAM). His lawyer Datuk Hasnal Rezua Merican, who appeared with Datuk M Reza Hassan, informed the court that Aisha wants to discharge herself as a guarantor for bail for Mohd Hafarizam as the firm had already split. Hasnal further introduced the new bailor Noor Arlisma Zainul Ariff, who was also a partner at the law firm, to Sessions Court Judge Azman Ahmad. — By Hafiz Yatim

DPM: No decision yet on compensationKUALA LUMPUR : Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said the government has yet to decide on the quantum of compensation for the people affected by toxic fumes re-sulting from the dumping of chemical waste into Sungai Kim Kim in Pasir Gudang, Johor. She told the Dewan Rakyat yesterday the govern-ment is now focused on the treatment of the victims and is looking at preventive meas-ures against the recurrence of the crisis. — Bernama

I N BR I E FBack to fl ow charts to cut red tapeCivil service to reintroduce manual procedures — Dr Mahathir

PUTRAJAYA: Th e Federal Court has allowed two senior offi cers of former Selangor menteri besar Tan Sri Khalid Ibrahim to challenge a Court of Appeal’s decision that they return RM2.7 million that was paid to them as compensation under their separation scheme.

Chief Judge of Sabah and Sar-awak Datuk David Wong Dak Wah led the three-member panel that unanimously allowed four questions of law be posed before the panel.

At the Federal Court, permis-sion has to be given before the full appeal based on questions of law can be heard.

Th e four questions are:i) Whether Menteri Besar Inc

(MBI), which was established by the Menteri Besar Selangor Enact-ment 1994, is in law a corporation sole or corporate aggregate?

ii) If MBI is a corporate sole, then was the then menteri besar empow-ered to enter into contracts in the name of MBI at his sole discretion?

iii) Whether the MBI’s board of directors that is not established under the Menteri Besar Selangor Enactment 1994 can fetter the pow-ers of the MB? and

iv) Whether the employees of the MBI acting under the instruc-tions of the MB can be held liable for breach of trust and/or breach of fi duciary duty to the MBI’s board of directors?

Ex-MB’s aides can challenge order to return RM2.7m

SERDANG: The government will reintroduce manual procedures, desk fi les and task fl ow charts for civil servants to address red tape, Tun Dr Mahathir Mohamad said.

Th ese systems will enable a civil servant to know what to do when there is a request to execute a work procedure without having to go through a complicated bureaucratic process, the prime minister said.

He said he had discussed with the Chief Secretary to the government, Datuk Seri Ismail Bakar, on the need to reintroduce the old system.

“If one does not know how to discharge one’s duty, one has to ask someone else; this will delay the process. If there is a task fl ow chart, civil servants can perform their tasks and hand over the sub-sequent tasks to others.

“When the matter reaches the top offi cer, it will be checked to deter-mine whether it has been executed correctly before the request is ap-proved, and this can enhance the

bureaucratic service”, he said during a question-and-answer session after launching the Cuepacs premier as-sembly at Universiti Putra Malaysia here yesterday.

Dr Mahathir, acknowledging the

problem of red tape in the civil ser-vice, said work cannot be done with-out bureaucracy, but problems arise when there are too many processes to doing something.

“One person wants to run a tour-

KUALA LUMPUR: All three op-position members on the Public Accounts Committee (PAC) have resigned, amid an on-going row over the chair, after the committee’s head crossed over to the govern-ment recently.

Th e members who quit are PAS secretary general Datuk Takiyud-din Hassan (PAS-Kota Bharu), and Umno members of Parliament (MPs) Datuk Noraini Ahmad (BN-Parit Sulong) and Datuk Seri Ah-mad Hamzah (BN-Jasin).

Announcing their resignations at

Parliament lobby, Takiyuddin said the opposition has also proposed that Noraini take over the chair-manship from Datuk Seri Ronald Kiandee, who recently joined the ruling Pakatan Harapan (PH) co-alition’s component Parti Pribumi Bersatu Malaysia.

“We will remain outside of the PAC until the government gives up the chairmanship to the opposi-tion,” he said.

Kiandee had been backed by Prime Minister Tun Dr Ma-hathir Mohamad to remain in the post despite crossing over, but changed his stand after sev-

eral government MPs expressed disagreement.

Dr Mahathir had reportedly said that PH’s promise for the PAC chair-man to come from the opposition was not enshrined in the federal constitution. On Monday, he said a new candidate is currently be-ing sought.

Earlier, Dewan Rakyat Depu-ty Speaker Nga Kor Ming told re-porters outside the Dewan Rakyat that the appointment of a new PAC chairman will be conducted “at the right time”, on grounds that a change now will aff ect ongoing pro-ceedings involving the committee.

Opposition MPs quit PAC amid chairmanship rowBY A D A M A Z I Z & E M I R Z A I N U L

BY PAW A I C H I N

BY H A F I Z YAT I M

Dr Mahathir (centre) receiving a souvenir from Cuepacs president Datuk Azih Muda at Universiti Putra Malaysia yesterday. Photo by Bernama

ism project in Langkawi. He has to seek permits from close to 20 departments. So, there’s a delay; sometimes the offi cers themselves are not very competent or do not know what their responsibilities are”, he said.

Dr Mahathir said the chief sec-retary to the government is striving to provide a procedure manual for the public on what they have to do when they want to do something.

Replying to a question on the ris-ing cost of living, Dr Mahathir said the government is striving to con-trol the rise in the prices of goods as the cost of living continues to rise despite the abolition of the goods and services tax.

“In business, the cost of the mid-dleman is very high. For example, the vegetables grown in Cameron Highlands cost 50 sen per kg but the cost is RM7 per kg in the mar-ket. Don’t tell me the trip from the farmland to the market is so costly,” he said. — Bernama

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak and his wife Datin Seri Rosmah Mansor want further documents from businessman Deepak Jaikis-han in relation to his suit against the couple for allegedly exerting pressure on him to settle taxes.

Deepak’s lawyer, Irwan Iswat Mohd Noor, told Th e Edge Financial Daily that Najib and Rosmah fi led a discovery application at the High Court on Dec 31 last year.

He added that Umno politician Datuk Seri Abdul Azeez Abdul Ra-

him, who is the third defendant in the suit, fi led a similar application on Jan 22.

Th e court has fi xed April 22 for the hearing of the applications.

Najib and Rosmah, in their ap-plication, said they want the fi ling of their statement of defence to be deferred pending the full disposal of this discovery application.

Th ey said that the documents which they seek from Deepak and two others have been referred to in the suit.

Th ey need to see the documents before they were able to admit or ob-ject to the claims in the suit, they said.

Deepak said that as a result of the transactions, he received a let-ter from the Inland Revenue Board (IRB) in March 2018, asking him to settle the arrears in tax owed by Carpet Raya and his income tax, to-talling more than RM6 million, ex-cluding penalty charges and interest.

Deepak claimed that he re-ceived the IRB letter after his re-lations with the couple soured in 2012 following his refusal to follow their instructions in a civil case involving private investiga-tor P Balasubramaniam, and fur-ther claimed that Abdul Azeez had knowledge of the matter.

Najib, Rosmah seek documents from Deepak in suit

B R O K E R S’ C A L L 1 3TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

Eastern & Oriental Bhd(March 25, 90.5 sen)Maintain neutral with a target price (TP) of RM1: We understand that the net development land for STP2A is 166 acres (67.18ha) of which 73 acres are residential and 93 acres commercial.

Th e number of residential units approved is 3,264 units while the commercial land has a plot ratio of four times.

We understand that it will un-veil the new name for STP2 soon.

To recap, the initial phase of Seri Tanjung Pinang 2A (STP2A) is said to have a gross development vehicle of about RM380 million comprising 400 units of serviced apartments (600-1,200 sq ft) and 16-20 retail lots which are to be launched by 1H2020.

Th e 760-acre development is exciting and off ers the opportu-nity for the group to strengthen its position further as the pre-mier developer in the country. However, we believe that until it brings in more joint-venture (JV) partners that could off er either fi nancial muscle or wider market

reach, it would be challenging in our view to develop a project of that size on its own given current sector headwinds.

Separately, it has raised about RM127.6 million following a pri-vate placement exercise of 130.23 million new shares at 98 sen or about 9.1% of its enlarged share capital. Th e new shares were sub-scribed by Sweetwater SPV Sdn Bhd, a company owned by Tan Sri Wan Azmi Wan Hamzah and his wife.

With the completion of the private placement exercise, the group would be embarking on the next phase of fund-raising, looking at raising a minimum of RM123 million under the pro-posed rights issue.

We understand that the latest equity raising should be enough to address the group’s near-term funding needs and future capital requirement could either come from disposing of its non-core assets (combined market price in excess of RM650 million) or monetisation of its STP2A via outright sale/JV. — PublicInvest Research, March 25

E&O seen eyeing RM123m for next phase of fundraising

Apex Healthcare’s long-term prospects remain promisingApex Healthcare Bhd(March 25, RM9.16)Maintain hold with a target price (TP) of RM8.81: Apex’s earnings could likely be weaker in the com-ing quarters. Th e fourth quarter of financial year 2018 (4Q18) profit before tax (PBT) contracted by 0.4 percentage point (ppt) year-on-year (y-o-y) and 1 ppt quarter-on-quar-ter, impacted by start-up and related costs from its new oral solid-dosage plant, SPP NOVO.

Moreover, we understand that it can only commence selling the products manufactured by SPP NOVO after receiving approval from the National Pharmaceutical Reg-ulatory Agency (NPRA), the latest by late-2Q19.

Also, it has already fully used its reinvestment allowance, hence the eff ective tax rate will normalise to previous levels of circa 24-25% on-wards (2018: 15%).

In the long term, we believe its prospects will remain intact, un-derpinned by:

(i) SPP NOVO, where the poten-tial capacity of its oral solid pro-duction may quadruple existing capacity;

(ii) Th e continuous expansion of its portfolio of group-branded products, which enjoy higher margins; and,

(iii) Its growing orthopaedic de-vices manufacturing business.

We lower our earnings estimates by 15-24% for 2019-21E (estimate) to account for the start-up expenses for SPP NOVO. While we remain upbeat

on Apex’s long-term prospects, the group’s near-term earnings are ex-pected to show weakness given the estimated one-two years’ gestation period for SPP NOVO.

Given the estimated lower payout and the recent surge in share price, the dividend yields are not attrac-tive at the current level of 1.5-1.9% for 2019-21E.

The key upside risks are low-er-than-expected start-up expens-es and the shorter-than-expected gestation period for SPP NOVO.

Th e key downside risks are high-er-than-expected start-up expenses and product recall risk.

To recap, Apex’s 4Q18 revenue grew 7% y-o-y but PBT only grew 2% y-o-y mainly due to a lower margin as it started recognising start-up costs from SPP NOVO. Nonethe-less, 4Q18’s core net profi t rose by a much greater extent of 31% y-o-y, primarily boosted by the reinvest-ment allowance arising from its in-vestment in SPP NOVO.

However, the management has clarifi ed that the group has already fully utilised the reinvestment al-lowance in 2017 and 2018 when it reported lower eff ective tax rates of 21% and 15% respectively.

As a result, the eff ective tax rate is expected to normalise to previ-ous levels of about 24-25% from 2019 onwards. Without the support from the reinvestment allowance, we expect the additional cost from the new plant to impact its bottom line directly.

Apex Healthcare Bhd

FYE DEC 2017 2018 2019E 2020E 2021E

Revenue 620.3 652.7 699.2 759.3 802.8Ebitda 60.2 71.0 76.0 84.8 93.0Pre-tax profit 56.0 69.3 69.2 77.8 86.0Net profit 44.5 58.6 51.8 58.3 64.4EPS (sen) 37.8 49.8 44.0 49.6 54.8PER 24.5 18.6 21.0 18.7 16.9Core net profit 45.0 60.2 51.8 58.3 64.4Core EPS (sen) 38.2 51.2 44.0 49.6 54.8Core EPS growth (%) 12.8 33.9 (14.0) 12.6 10.5Core PER 24.2 18.1 21.0 18.7 16.9Net DPS (sen) 12.0 13.5 14.1 15.9 17.5Dividend yield (%) 1.3 1.5 1.5 1.7 1.9EV/Ebitda (x) 16.7 14.6 13.4 11.8 10.5Debt to equity (x) 0.0 0.1 0.1 0.0 0.0BPS (RM) 2.9 3.3 3.6 3.9 4.3PBR (x) 3.2 2.8 2.6 2.4 2.2Chg in EPS (%) (14.8) (19.5) (24.4)Affin/Consensus (x) 0.9 0.9 0.8Sources: Company, Bloomberg, Affin Hwang forecasts

Th e construction of SPP NOVO was completed in end-2018 and received the certifi cate of practical completion and certifi cate of com-pletion and compliance on Oct 31 and Dec 21 2018 respectively.

The final hurdle will be the NPRA inspection. Despite the commencement of start-up and recognition of additional expenses since 4Q18, we understand that the group will only be allowed to start selling the products manufactured by SPP NOVO after receiving ap-

proval from the NPRA, expected at the latest by late-2Q19.

Th e estimated total start-up cost is about RM12 million for 2019E (estimate) and it is targeted to break even by end-2020.

Given the: i) additional start-up expenses; ii) later-than-expected kick-start of sales from SPP NOVO; and, (iii) absence of the reinvest-ment allowance, we expect some margin pressure and anticipate a y-o-y decline in 2019E earnings, especially in 1H19.

Th e group, which did not have any borrowing over the past six years, began to undertake new loans of RM30 million to fi nance its new factory in 4Q18. While we are not concerned over the fi nancing (as it is still sitting fi rmly in a net cash posi-tion of RM81.2 million or 44 sen per share as at end-2018, we think that it could potentially set aside cash fl ows for expansion rather than to reward shareholders. Hence, we reduced our dividend payout assumption to 32% (from 40% previously), in line with its three-year average historical payout. Given the estimated lower payout and the recent surge in its share price, the dividend yields are not very attractive at the current level of 1.5-1.9% for 2019-21E.

We lower our earnings estimates by 15-24% for 2019-21E to account for the start-up expenses for SPP NOVO. While we look forward to the contribution from SPP NOVO and remain upbeat on Apex’s long-term prospects, we expect the group’s near-term earnings to show weakness given the estimated one-two years’ gestation period for SPP NOVO.

Apex’s share price has rallied 91% since October 2017 to an all-time high post-announcement of its 4Q18 results and three-for-one bonus issue plan.

We downgrade our call on Apex Healthcare to “hold” from “buy” with a lower TP of RM8.81 from RM10.34, based on an unchanged 2019E per earnings ratio of 20 times. — Affi n Hwang Capital, March 25

MyNews Holdings Bhd(March 25, RM1.37)Maintain underperform with a target price (TP) of RM1.25: Th e fi rst quarter of fi nancial year 2019’s (1QFY19) core profi t after tax and minority interests (Patmi) of RM8.2 million (+30% year-on-year [y-o-y], +36% quarter-on-quarter [q-o-q]) came in within expectations at 26%/25% of our and consensus full-year earnings estimates.

No dividend was declared for the quarter as MyNews typically pays a dividend once a year in 2Q.

Y-o-y, 1QFY19’s core Patmi surged 30%, but with contraction in profi t before tax (PBT) margin by 0.5 percentage point (ppt) to 8.3% from 8.8% in 1QFY18 despite stronger sales growth (+37%) main-ly due to (i) higher operating ex-penses (+31%), and (ii) contraction in gross profi t margin by 0.8 ppt to 36.8% from 37.6% in 1Q18.

Th e higher operating expenses were in tandem with the opening of 73 (net) new outlets since 1Q18 to 439 stores as well as higher staff

MyNews 1QFY19 core profi t within expectations

costs, rental expenses, and expens-es incurred for the bigger head of-fi ce premises (at Taman Sains, Kota Damansara) and the new Johor Baru distribution centre, while the contraction in gross profi t margin was due to unfavourable merchan-dise mix.

Note that the group’s eff ective tax rate of 20.7% (1Q18: 20.3%) is lower than the Malaysian statutory tax rate because one of its whol-ly-owned subsidiaries, DKE Tech-nology SB, is Multimedia Super Corridor-status company which enjoys certain tax incentives.

Q-o-q, 1QFY19 core Patmi rose by 36% in spite of lower sales growth (+13%) attributed to lower eff ective

tax rate of 20.7% (4QFY18: 23.7%) and improved PBT margin by 1.6 ppt to 8.3% from 6.7% in 4QFY18 due to: (i) lower operating expenses allocation at 27% (4QFY18 :29%) in tandem with only three (net) new outlets opening, and (ii) favoura-ble merchandise mix with higher gross profi t margin by 0.2 ppt to 36.8% from 36.6% in 4Q18, from improved contribution by new in-house brand “Maru Kafe”.

Looking ahead, MyNews plans to open at least 90 new outlets in FY19, which is the same target as FY18 (total 439 outlets as of Jan 31, 2019). Nonetheless, we expect earnings margin growth to be lim-ited by: (i) higher staff and rental costs during this expansionary pe-riod, and (ii) start-up costs from the commissioning of in-house food- processing facility, which has been fully completed in January 2019 (supported by its joint-ven-ture companies, MyNews Kineya Sdn Bhd and MyNews Ryoyupan Sdn Bhd). — Kenanga Research, March 25

No dividend was declared for the quarter

as MyNews typically pays a dividend once

a year in 2Q.

1 4 B R O K E R S’ C A L L TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

Better profi t margin seen for Top Glove in 2HTop Glove Corp Bhd(March 25, RM4.48)Maintain buy with a target price of RM4.95: Top Glove Corp Bhd reported a net profit of RM105.8 million for second quarter of fi nan-cial year 2019 (2QFY19), down 3.9% quarter-on-quarter (q-o-q) and 3% year-on-year (y-o-y). Meanwhile, quarterly revenue stood at RM1.16 billion, down 3.9% q-o-q, while up 21% y-o-y. For fi rst half of FY19 (1HFY19), the group attained a high-er top line (+27.7% y-o-y) and a fl at bottom line (+0.6% y-o-y). Earnings were within our but below market’s expectations. Overall, 1HFY19 net profi t accounted for 45.1%/42.9% of our/consensus full-year estimates.

A lower revenue was recorded mainly due to lower average sell-ing price (ASP) from downtrend in raw material costs and pricing pressure, which off set a higher sales volume (+1% y-o-y). Meanwhile, weakening of the US dollar against the ringgit resulted in disappointing profi t before tax (PBT)/PBT mar-gin of -24.8%/-2 percentage points. Th e group achieved a stronger sales volume growth (+16% y-o-y) with a higher ASP, and further enhance-

ments in quality and operational effi ciency, resulting in a higher oper-ating profi t (+16.1% y-o-y). However, a lower profi t after tax was recorded no thanks to higher tax expenses (re-duction in tax allowance, expiry of special reinvestment allowance and higher deferred tax liabilities). Again, better sales volume (+18% y-o-y) and operational effi ciency contrib-uted to a higher revenue in 1HFY19. Despite that, a higher fi nance cost (RM38.5 million in 1HFY19 versus RM4.3 million in 1HFY18) was main-ly incurred due to the acquisition of Aspion, which resulted in a fl at net

Top Glove Corp Bhd

FYE AUG (RM MIL) 2016 2017 2018 2019F 2020F

Revenue 2,888.5 3,409.2 4,214.0 4,790.0 4,840.6Ebit 446.5 392.3 556.3 603.0 617.6PBT 442.2 383.1 528.1 542.0 556.6PAT 362.4 328.6 437.4 456.0 468.6Net profit 360.7 328.7 433.7 456.1 468.7

Margin (%)

Ebit margin 15.5 11.5 13.2 12.6 12.8PBT margin 15.3 11.2 12.5 11.3 11.5PAT margin 12.5 9.6 10.4 9.5 9.7Net profit margin 12.5 9.6 10.3 9.5 9.7

Growth (%)

Revenue growth 15.1 18.0 23.6 13.7 1.1Gross profit growth -19.5 -12.1 41.8 8.4 2.4PBT growth 16.5 -13.4 37.8 2.6 2.7PAT growth 28.9 -9.3 33.1 4.3 2.8Net profit growth 28.9 -8.9 31.9 5.2 2.8Net gearing (%) 9.6 6.6 62.2 57.8 47.7ROA (%) 13.7 11.3 9.8 9.8 9.6ROE (%) 19.8 16.5 18.5 17.9 17.8EPS (sen) 14.1 12.8 16.9 17.8 18.3PER 31.45 34.51 26.15 24.87 24.20DPS (sen) 14.5 14.5 12.0 14.5 14.5Dividend payout (%) 50 54.6 70.8 81.4 79.2Dividend yield (%) 3.3 3.3 2.7 3.3 3.3Sources: Company, JF Apex

profi t. Th e group will continue its ex-pansion of existing facilities and the construction of new facilities, which will boost the total production line (+200 lines) and production capac-ity (+80.9 billion) by end of 2020. As such, the group is projected to have 848 production lines along with a production capacity of 80.9 billion per annum.

We envisage the group will have a fl attish sales volume growth ahead due to potential oversupply from the rubber glove segment. As such, revenue will be fl at unless there is growth from other new businesses (printing, chemical business and Aspion), in our view. On the other hand, we foresee a better profi t mar-gin in 2HFY19 due to a lower fi nance cost, as well as lower tax expenses thanks to unutilised tax allowance.

We slightly revise down our FY19 and FY20 forecast earnings by 6.4% and 5.3% respectively as we foresee weakening of the US dollar against the ringgit, coupled with lower sales volume growth. We maintain “buy” with a lower TP of RM4.95 after our earnings downgrade and strength-ening of the ringgit against the US dollar. — JF Apex Securities, March 25

Property sectorMaintain neutral: According to an article by the Financial Times on Saturday, the redevelopment of the UK’s Battersea Power Sta-tion (BPS) was behind schedule and residential property buyers of the project would be eligible to reclaim their deposit and can-cel their booking. Th e BPS joint venture is 40% owned by Sime Darby Property Bhd, 40% owned by S P Setia Bhd and 20% by the Employees Provident Fund.

BPS is the largest single de-velopment in London’s Central activity zone, spanning across 42 acres (17ha) of land with an esti-mated total gross development value (GDV) of £9 billion (RM36.63 billion) which will be launched over seven phases. Th e planned development consists of 3,428 residential units, 564 aff ordable residential units and about 3.5 million square feet of commer-cial area.

We gather that the potential delay could be for BPS phase 3a, which comprises 539 residential units with a GDV of £948 mil-lion. The project was launched in October 2014 with a take-up rate of about 70%, and slated to be completed by second quar-ter of 2021. BPS phase 2 (GDV: £2.3 billion) comprising 90 retail units, 76,000 sq ft of food and beverage area, 520,000 sq ft of offices and 255 residential units

(about 92% take-up rate), is ex-pected to be ready for handover by end-2020.

The deposit is usually 5%-10% of the property’s purchase price and homebuyers could end the contract if the seller fails to complete the property on time. Assuming the worst-case scenar-io where all the existing buyers terminate their contract, this could drag down Sime Darby Property’s and S P Setia’s fore-cast earnings for their financial year 2021 by 40% and 26% re-spectively. However, we do not expect all buyers to walk away, and typically a project’s take-up rate accelerates when it is nearer to completion.

We keep our forecast earnings unchanged for Sime Darby Prop-erty and S P Setia, pending clari-fi cation from the companies. Our current forecasts have factored in the cost overrun and lower margin for BPS phase 2 project.

Overall, we remain “neutral” on the property sector as we ex-pect developers to record lower new property sales in 2019 due to weaker aff ordability and weak consumer sentiment. Sime Darby Property remains our top pick as we believe the group’s healthy bal-ance sheet and massive land bank give it an advantage in addressing any potential change in future product demand. — CGSCIMB Research, March 25

Developers expected to recordlower new property sales this year

Plantation sectorMaintain underweight: Bloomb-erg reports that the Indonesian government will review the con-tinuation of talks on the compre-hensive economic partnership agreement with the European Un-ion (EU) in response to the EU’s plan to propose stricter limits on palm oil. Also, Indonesia will chal-lenge the measures of the EU at the World Trade Organization. In addition, the strategic partnership between Asean and the EU is on hold, and Indonesia is examining bilateral relations with member states that have been supporting the EU’s discriminatory actions.

In a related development re-ported by Bloomberg, a US agri-cultural offi cial says that the EU is using “non-science-based” and “backward-looking” trade protec-tionist measures when it comes to imports of farm products. Th e US has been pressing the EU to address agriculture in trade talks. Farm production in the EU is sub-sidised and measures such as con-trols on approvals of genetically modifi ed products keep US prod-ucts from entering the bloc.

Bloomberg also says that China has sold soybean oil from its state reserves for the fi rst time since Oc-tober 2018. Th e government sold 5,000 tonnes out of 28,445 tonnes off ered from the state reserve a few

Too early to say rain will aff ectUS soybean planting this year

weeks ago. We believe that there could be a shortage of soybean oil. China’s demand for soybean has been aff ected by the outbreak of the African swine disease. Soybean is crushed to make animal feed. Soybean oil is the by-product from the crushing.

Bloomberg quotes an industry expert in the US as saying that “exceptionally wet” conditions from the Mississippi River Delta in Arkansas to North Carolina will slow down fi eldwork and planting of corn and soybeans. Rain will further hamper planting in the south where farmers are among the fi rst to plant crops in the spring. We believe that it is still too early to conclude that heavy rain will affect US soybean planting this year. Th e US Department of Agri-culture has predicted that US soy-

bean production will increase by 5.8% from 340.47 million tonnes in 2017/2018 to 360.08 million tonnes in 2018/2019.

According to Reuters, the recent sell-off in grain and oilseed futures and options has culminated in an all-time short speculation position across the market. Reuters says that it is very unusual for funds to be short when the US soybean and corn growing season is just around the corner. Net positions in the Chicago Board of Trade corn, wheat and soybeans were overall a net short of 504,070 futures and op-tions contracts for the week ended March 12. Th at exceeded the pre-vious record of 480,592 contracts in the week ended Jan 16, 2018.

Th e Jakarta Post reports that Indonesian President Joko Wido-do (Jokowi) has advised oil palm growers to grow durian trees as he believes that the commodity has good prospects. He says that palm oil is facing difficulties in market expansion as certain coun-tries link it with environmental issues while others impose high tariff s. Jokowi adds that China has good demand for durians. How-ever, most of China’s durians are sourced from Malaysia. Indone-sia has various kinds of durians. However, the commodity is poorly managed. — AmInvestment Bank, March 25

We believe that there could be a shortage of

soybean oil. China’s demand for soybean has been aff ected by the outbreak of the

African swine disease.

C O M M E N T 1 5TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

What a coup for Th ailand’s juntaWith most votes, pro-military party still needs to compromise amid regional disparities, weak global economy

THERE is no way for US President Donald Trump’s opponents to spin it away: He just won a big victory and the Russia-collusion story is over. Here are my takeaways.

First: It is highly likely that Trump and his campaign did not collude with the Russian government or its agents to infl uence the outcome of the 2016 campaign. Special coun-sel Robert Mueller did not fi nd ev-idence to suggest that he did, and it is reasonable to have a strong pre-sumption that if it had happened, Mueller would have discovered it and reported it. We should therefore conclude that it did not happen. Of course, this conclusion depends on Barr’s having summarised the report accurately and fairly.

Second: While some Trump crit-ics on Twitter are wishfully pointing out that Barr’s letter is not the same as Mueller’s report, the letter almost certainly summarised the report

Trump won but the country is losingBY R A M E S H P O N N U R U accurately and fairly. Th e letter was

short and to the point, and it did not create much wiggle room. Barr would not claim the report found no evidence of collusion unless it did, because he would be found out and his reputation destroyed. He would not claim that the report reached no conclusion about obstruction of jus-tice and left it to the Justice Depart-ment to decide the question unless it did. Leave contrary speculation to the fever swamps.

Th ird: Th e evidence on obstruc-tion of justice will turn out to be equivocal. Note that Barr (with, he says, the agreement of Deputy Attor-ney General Rod Rosenstein) found that the evidence does not justify the conclusion that Trump had ob-structed justice, period. Th e letter specifi cally ruled out the possibility that Trump obstructed justice but could not be indicted because he is a sitting president. Th e full re-port, we can infer, tells a story about Trump’s actions and motives that

is susceptible to multiple interpre-tations — which is to say that while the report may add more detail to the arguments we have been hav-ing for the last two years about the fi ring of James Comey as director of the Federal Bureau of Investigation (FBI), it will not settle them.

Fourth: Mueller was not engaged in a witch hunt. Th ere were legiti-mate reasons to investigate Trump. Russia did, after all, interfere in the election. His campaign was full of shady characters, several of whom are now in prison. Perhaps the in-vestigation should have been carried out by congressional committees instead of a special prosecutor, and perhaps Mueller made some mis-takes. But the record suggests that the portrayal of Mueller as a corrupt agent of the deep state bent on bring-ing down Trump was a fantasy, or worse, spread by some of the pres-ident’s most committed supporters.

Fifth: Trump behaved terribly during the investigation. No presi-

dent, and no person, can be expect-ed to welcome an investigation into his conduct. Trump had every right, too, to pronounce his innocence and bat back misleading media coverage and Democratic rhetoric. But his attacks on Mueller — he has said of Mueller’s team, “Th ey are a disgrace to our Nation and don’t care how many lives the ruin” — were unjust, and unhinged. Trump’s opponents sometimes wrote that these presidential eruptions proved Trump had something to hide. Th e Barr letter adds to our reasons for thinking that no, they just confi rmed the personality traits that led even many of the people who voted for Trump in 2016 to have serious res-ervations about him.

Sixth: Liberals, and sometimes conservative Trump opponents, re-peatedly ran ahead of the evidence, sometimes going so far as to label Trump a “Russian agent” or “trai-tor”. Breathless journalism made it sound as though Mueller was going

to deliver a death blow to the presi-dency. One eff ect of this speculation was to work up a lot of liberals into a state of feverish excitement. Another was to make Trump look better by comparison to their theories. Nor-mally, it would be a serious political problem for the White House if the president’s campaign manager had been sentenced to prison for the rest of his life. It is largely his opponents, by talking up fantasies about Donald Trump Jr being arrested, who have kept it from being one.

Th ose last two points suggest to me that the president’s fl aws and excesses, and those of his critics, exacerbate each other rather than cancelling each other out. Th ey make for a political culture that is less and less conducive to sensible govern-ance. Th at the president did not col-lude with the Russians is very good news. Th e bad news is the slide of our politics into a pit of folly and strife, and it is going to outlast the Russia collusion controversy. — Bloomberg

To sceptics, Sunday’s Thai election was yet another military coup, though carried out with ballots rather than bullets. A more

hopeful assessment is that the Southeast Asian nation is finally taking politics out of the streets and to where it belongs: parliament.

Both views have merits. General Prayuth Chan-Ocha,

who seized power fi ve years ago, is poised to retain it — as an elected leader. Th e pro-army Palang Pra-charath won 7.7 million votes with 94% counted, according to unoffi -cial results posted on the Election Commission’s Facebook page. Th e country’s largest party, the former prime minister Th aksin Shinawatra’s Pheu Th ai, was pushed into sec-ond place with 7.23 million votes. It is the fi rst electoral defeat for the pro-Th aksin camp since 2001.

But then, the dice were loaded. In theory, Prayuth requires only 126 out of the 500 lower-house seats because the 250 junta-appointed senators in the upper house have been given an equal say in selecting the next prime minister. By contrast, the pro-Th aksin camp needs 376 seats in the lower house for an overall simple majority (out of 750). New rules of propor-tional representation are a further complication. A similar vote share as in 2011 would still have left Pheu Th ai poorer by 41 seats, according to the Bangkok Post, benefi ting region-al groups such as the Bhum Jai Th ai Party. Promising full legalisation of marijuana, Bhum Jai Th ai did better

BY A N DY M U K H E R J E E

than the Democrat Party of former prime minister Abhisit Vejjajiva, who quit as leader after its poor showing.

Ever since Thaksin’s 2001 rise, a royalist Bangkok elite has been trying to banish the influ-ence of the cop-turned-business-man-turned-politician from Th ai politics. Th e recent disbandment of a pro-Th aksin party for disrespect-ing the constitutional monarchy by picking a princess as its prime ministerial candidate shows the determination to keep him out. Yet Th aksin, who went into exile after being deposed in a 2006 coup and was later convicted for corruption, remains popular, particularly in the underdeveloped northeast. His vil-lage-fund programme is still lauded for trying to bridge the resource gap with the region around the capital.

Some things have changed,

though. Th e junta appears more willing to give a voice to less-de-veloped regions as long as there is no repeat of the extreme populism of Th aksin or his sister. Elected as prime minister in 2011, Yingluck Shinawatra’s purchase of grain from farmers at above-market prices di-minished the export competitive-ness of Th ai rice and amassed a fi scal burden. After her 2014 ouster, a court sentenced Yingluck to a jail term for negligence in the rice-sub-sidy programme. She avoided pris-on by fl eeing the country.

Thaksinomics may be dead, but regional disparities are not. To the southwest of Bangkok, tour-ism fl ourishes in Krabi, even as in neighbouring Trang, rubber plant-ers have been hurt by the end of the Chinese commodity boom. Prices are down two-thirds from early 2011.

Th e area was a long-time stronghold for the Democrat Party, whose de-feat may see more lawmakers from smaller parties bring local concerns to parliament. “Rather than political atomisation,” writes Michael J Mon-tesano, a researcher at Singapore’s ISEAS Yusof Ishak Institute, this has “the potential to deliver a new form of national integration”.

Th e past decade has been marked by violent clashes between Th aksin’s red-shirt supporters and yellow-shirt liberal Democrats. Adding more col-ours to the palette will not be an un-welcome fragmentation. Investors will win if Sunday’s election cuts the risk of future coups. With the military consolidating its control on civilian aff airs, there may be less need for it to hit the reset button repeatedly.

All depends on whether Sunday’s election can provide a durable de-

mocracy, if not a stable government. Military rule did not stop billionaire Charoen Sirivadhanabhakdi from making deals. His food-and-bev-erage empire across Southeast Asia is now supported by the stakes he acquired in Th ai retailer Big C Su-percenter Pcl and Metro AG’s Cash & Carry business in Vietnam. But when it comes to start-ups, the re-gion’s second-biggest economy is lagging badly behind neighbouring Indonesia. With a population of 69 million, the Th ai market is not too small to spawn its own unicorns.

Finally, lawmakers who get elected on local issues will try to win fiscal concessions for their provinces, whose own sources of revenue are often pitiful. But the movers and shakers in Bangkok are already worried about the impact of population ageing on national debt. Besides, global demand is weak. Th ai auto exports slumped 12.6% from a year earlier in the fi rst two months, and this when the country has made a 1.7 trillion baht (RM216.98 billion) bet on turning its eastern seaboard into a global manufacturing powerhouse.

Even as that gamble takes time to pay off , compromise solutions are needed. Recently, Th ailand became the fi rst Southeast Asian country to allow medical cannabis. Hard-up rubber farmers will not have failed to notice Bhum Jai Th ai’s poll promise: “Vote for us and we’ll let you plant marijuana freely.” Neither will traders in the Th ai baht, Asia’s best-performing currency since the end of 2015, have ignored the whiff of more dollar earnings for Th ailand.

Prayuth can be satisfied with the verdict delivered by Th ai vot-ers. Plenty of hard work still lies ahead. — Bloomberg

Offi cials transporting ballot boxes, after counting, to the district offi ce during a general election in Bangkok on Sunday. The pro-army Palang Pracharath won 7.7 million votes with 94% counted, according to unoffi cial results posted on the Election Commission’s Facebook page. Photo by Bloomberg

1 6 F O C U S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

Trump’s push for China trade reform draws wide supportGrowing chorus at home and abroad for US to hold out for meaningful structural reforms in China

BY D AV I D L AW D E R , P H I L I P

B L E N K I N S O P & M I C H A E L M A R T I N A

BY B R E N D A G O H & S H U Z H A N G

US President Donald Trump’s blunt-force use of tariffs in pur-suing his “America First” trade agenda has angered many,

from company executives to allied governments and members of both parties of Congress.

But there is one eff ort which has drawn broad support from those who oppose him on almost everything else — his push to force Beijing to change what are widely viewed as China’s market-distorting trade and subsidy practices.

As US-China talks to end a trade war reach their endgame, politicians, executives and foreign diplomats are urging Trump and his team to hold out for meaningful structur-al reforms in China to address en-trenched problems in the relation-ship that hurt US and other foreign companies and workers.

Trump’s trade war “has let the genie out of the bottle” by lifting expectations that the trade war will force China to reform policies that businesses and foreign governments regard as unfair, said Steven Gardon, vice president of indirect taxes and customs at Lear Corp. Gardon’s fi rm is an automotive seating and electri-cal supplier with plants in 39 coun-tries, including the US and China.

“Now that all these issues have been raised, there’s a lot more do-mestic political support to address these issues, and I don’t think you can pull back from that,” Gardon said at a Georgetown Law School forum this month. “Th ere’s now pressure politically that they have to be ad-dressed for the long term.”

Gardon’s comments reflect a broad shift in US and international business sentiment towards China’s economic and trade policies, one that is aligned with Trump’s goals, if not his tactics.

Trump’s trade team say they are in the fi nal stages of negotiating what

would be the biggest economic policy agreement with China in decades. US Trade Representative Robert Ligh-thizer and Treasury Secretary Steven Mnuchin head to Beijing this week to try to accelerate talks with Chi-nese Vice Premier Liu He. Liu is set to travel to Washington for another round of negotiations in early April.

Eight months into the trade war that has disrupted the fl ow of bil-lions of dollars of goods between the world’s two largest economies, it is unclear if a deal acceptable to both sides can be done.

China’s President Xi Jinping is seen as reluctant to make economic reforms under pressure from the US, and Trump has said he may keep tariff s on Chinese goods in place for “a substantial period” even if a deal is struck.

Xi may fi nd it easier to live with the tariff s Trump has imposed on trade than to change China’s model

for economic development.As part of a deal, Beijing has of-

fered to make big-ticket purchases from the US to help reduce a record trade gap. Trump’s team has said those purchases would be worth more than a trillion dollars over about six years.

While big Chinese purchases might be tempting for Trump’s ad-ministration, they would do nothing to address what US fi rms competing in China or against Chinese fi rms say are structural problems with a system stacked against them.

Th e US complains China engages in systematic intellectual property theft, forces foreign firms to give up trade secrets for market access and spends huge sums subsidising its own industry. Redressing those complaints would require policy reform at the highest level from Xi and China's ruling Communist Party.

A survey released by the Ameri-

can Chamber of Commerce in Chi-na in late February showed that a majority of member US companies supported increasing or maintaining tariff s on Chinese goods, and near-ly twice as many as last year want the US government to push Beijing harder to create a level playing fi eld.

Th e US tariff demands have even encouraged some reform-minded Chinese offi cials and private-sec-tor business executives to call for a faster pace of reform in China as it celebrates the 40th anniversary of its fi rst steps towards capitalism.

Lighthizer told lawmakers in late February that Chinese-American business people in particular have urged him to “hang tough” in the talks and not to “sell out for soy-beans”.

Stay the courseWhen Trump delayed a threatened tariff increase well before a March 1

deadline for a deal, he stoked fears that he may be swayed by the big purchase order and leave longstand-ing structural problems unresolved.

Since then, a steady drumbeat of lobbyists, company executives, for-eign diplomats and US lawmakers from both parties have urged Trump to stay the course on his structural demands.

Representative Kevin Brady of Texas, one of the most pro-trade Republicans and a critic of Trump’s tariff s, recently joined that call.

“While we want China to buy more US goods ... it’s even more important for us to hold China ac-countable to meeting high inter-national standards on intellectual property rights, subsidisation, over-capacity, and the other structural ways in which China distorts the global economy,” he said at a House Ways and Means Committee hear-ing just days after the tariff delay was announced.

Last week, Senate Democratic leader Chuck Schumer, a long-time China trade hawk, took to the Sen-ate fl oor to urge Trump not to “back down” and take a deal based largely on Chinese purchases of American soybeans and other goods.

Last Th ursday, Schumer tweet-ed: “Now’s not the time to drop US$200B [billion] in tariff s just be-cause China’s close to a deal, @realDonald Trump."

Quietly rooting for TrumpEuropean Union (EU) members, traditional allies of the US, are still smarting about the steel and alu-minium tariff s Trump imposed on imports into the US last year. Th e EU is also worried that Trump will impose duties on autos. But the bloc shares many of the same frustrations over China's technology transfer pol-icies and market access constraints.

“We get complaints every day from our companies,” one European offi cial told Reuters in Beijing, noting that despite repeated pledges from the Chinese government to make

Shipping containers of China Shipping and China Ocean Shipping Co are seen on a container ship at Kwai Tsing Container Terminals in Hong Kong, China. Trump has said he may keep tariff s on Chinese goods in place for ‘a substantial period’ even if a deal is struck. Photo by Reuters

CHINA will reduce direct gov-ernment intervention in its vast industrial sector, its Minister of Industry and Informational Tech-nology Miao Wei said yesterday, as Beijing seeks to ease concerns about its industrial policy, core to Washington’s complaints in the Sino-US trade war.

The government’s pledge to reduce its influence over opera-

tional matters in China’s manu-facturing sector follows an appar-ent toning down of its high-tech industrial push, which has long annoyed the US.

“We will gradually reduce the government’s micro-manage-ment and direct intervention, in order to allow the market to effectively decide resource al-location and support the devel-opment of the manufacturing industry”, Miao told the China

Development Forum.But China will continue to en-

courage higher-value production, he said.

In his speech, Miao did not touch on the so-called “Made in China 2025” plan, an initiative intended to help China catch up with global rivals in sophisticated technologies such as semicon-ductors, robotics, aerospace and artificial intelligence (AI).

The state-backed industrial

policy has provoked alarm in the West, due to China’s open efforts to deploy state support and subsidies.

The comments came days ahead of the latest round of high-level trade talks between China and the US starting here on Thursday.

Washington has threatened further action if China does not change its practices on issues ranging from industrial subsidies

to intellectual property.China is not conceding to US

demands to ease curbs on tech-nology companies, the Financial Times reported on Sunday, cit-ing three people briefed on the discussions.

‘Valley of Death’The latest conciliatory tone struck by Beijing to placate Washington does not mean China is less se-rious about its high-tech manu-

China to reduce government intervention in industrial sector

CONTINUES NEXT PAGE

F O C U S 1 7TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

BY J O E D E AUX , J A C K FA R C H Y

& M A S U M I S U G A

US metal tariff s have more losers than winnerslife easier for foreign companies, little had changed.

EU Trade Commissioner Cecilia Malmstrom’s assessment of China’s behaviour sounds almost like it was written by the US Trade Representa-tive’s offi ce, charging that China has abused global trading rules.

China has “blurred the lines be-tween state and private sector. Th e state has undue infl uence,” she said in a Washington speech this month. “Intellectual properties of companies are stolen. State subsidies, direct or indirect, are common. And these im-pacts are felt at home and abroad.”

Malmstrom says that while the US and EU “agree on the diagnosis,” they diff er on tactics, and she argues for a more multilateral approach, citing the EU’s work with the US and Japan to address the issues through reform of World Trade Organisation rules.

Some worry that Europe could lose out if Washington and Beijing strike a deal to purchase billions of dollars more in products to try to shrink the US goods trade defi cit with China.

“If China is buying more from America then inevitably it will buy less from Europe” a second Euro-pean offi cial based in Beijing said, adding that could in particular af-fect large European multinationals.

But European diplomats and of-fi cials acknowledge a begrudging support for Trump’s goals, even if they are repulsed by his blunt tac-tics. Many are secretly rooting for his success.

“We are against unilateral meas-ures, but nobody is exactly sorry for China. On content we think he does have a point,” said one EU dip-lomat who spoke on condition of anonymity in Brussels. “Beijing has to understand that without reform, the system could just stop working”.

Trump administration offi cials insist that he has gotten the message and is holding out for “structural changes” to the US-China relation-ship, along with an enforcement mechanism that holds China to its pledges.

Clete Willems, a White House trade adviser, told the Georgetown Law School forum that Trump is de-termined to fi x problems with Chi-na’s trade relationship that he has railed against for years, long before he ever sought offi ce.

“Th e notion that he’s just going to suddenly accept a bad deal is totally inaccurate. Th e president is going to walk away from bad deals,” said Willems, who announced last Friday that he is leaving the White House for family reasons. — Reuters

facturing drive, with local gov-ernments still rolling out plans to help manufacturers move up the value chain.

Local governments have also been told to pursue new engines of industrial growth by devel-oping innovative technologies, such as new energy vehicles and AI.

Miao said technology manu-facturers needed to survive “the Valley of Death” as they seek to

turn laboratory samples into mass production.

The southern province of Hunan this month issued a three-year plan for the AI sector, pledg-ing more support for a local in-dustry whose size is projected to reach 10 billion yuan (RM6.1 billion) by 2021.

In the central province of He-nan, production of service robots rose 14.3 times in January-Febru-ary from a year earlier, according

to local media.When asked to comment on

US President Donald Trump’s wish to bring manufacturing jobs back to the US, Miao said that such decisions could not be made by a single person because an entire supply chain was involved.

“Every company will consid-er putting its supply chain in a country where costs are relatively lower, this the purpose of the law of economics,” he said.

“If, after comparisons are made, that the US has lower costs and possess advantages versus other countries, I’m sure that a company…will bring its manu-facturing back to the US”.

In a bid to support to small companies, many of which have been struggling to get financ-ing, Miao said small and medi-um-sized companies will play a bigger role in the sector’s in-novation.

China is planning to launch a highly-anticipated Nasdaq-style technology board — a move by Beijing to counter US curbs on China’s technology advances.

The government's next move is to implement policies such as tax reductions and to improve the protection of intellectual prop-erty rights, according to Miao, adding that the general man-ufacturing sector will be fully liberalised. — Reuters

SO far, trade wars don’t seem to be as “good, and easy to win” as US President Donald Trump promised a year ago when he imposed tariff s on steel and aluminium imports.

Th e scorecard shows a split de-cision. US steelmakers Nucor Corp and United States Steel Corp saw signifi cant profi t gains in 2018. But manufacturers that buy the metal — led by Caterpillar Inc, a top three US exporter — say the tariff s have hurt profi ts, spurred layoff s and forced some companies to rework supply chains in ways that undercut use of American workers.

US manufacturing purchasing managers’ index (PMI), an indicator of economic health for the sector, has dropped steadily since August, and in February sat at its lowest lev-el since Trump won the election.

Manufacturing showed “a lot of momentum coming out of 2017 into 2018,” said John Mothersole, an IHS Markit analyst here. “But all that momentum evaporated across the course of the year”.

Mothersole sees the tariff s as a tax on US manufacturers, and said he believes they are likely a drag on the economy as a whole. After all, he said, a lot more people make things from steel than produce it.

Meanwhile, global manufactur-ing activity has fallen in 10 of 11 months since the US tariff s were imposed, peeling it back to a level last seen in 2016, according to the JPMorgan Global Manufacturing PMI index. Th at’s occurred as global economic growth is under pressure after a sharp slowdown in 2018, and policymakers await clarity on issues from trade tariff s to Brexit.

To be sure, there are supporters of the tariff s. US Commerce Secre-tary Wilbur Ross, for instance, has downplayed the tariff ’s negative eff ects. Appearing on CNBC at one point, he used a soup can to say most Americans would barely notice the tariff s. Th e can contained 2.6 US cents worth of steel, he said, add-ing, “if that goes up by 25%, that’s six-tenths of one cent”.

On the other side of the equa-tion, Caterpillar, the world’s biggest machinery producer, said it may have lost more than US$100 mil-lion (RM407 million) in 2018 as a result of the tariff s, while beer-maker MillerCoors, the US unit of Molson Coors Brewing Co, has said the al-

uminium tariffs probably added more than US$40 million in costs to its operation.

Mid-Continent Steel and Wire Inc, a maker of nails, has said it is cutting jobs to off set its added costs from the tariff s, while PanelClaw Inc and Nuance Energy, suppliers of steel racks for solar panels, say they are importing some racks from abroad rather than building them with American workers at home.

On the aluminium side, even US producers are struggling. Chinese exports of aluminium products have risen to record highs, pressuring prices. Century Aluminum Co re-ported a fourth-quarter loss, as did Alcoa Corp’s aluminium division.

“In the big picture, even with 232, things are not so great”, said Mark Hansen, chief executive of trading house Concord Resources Ltd, referring to the tariff s Trump imposed under Section 232 of the Trade Expansion Act of 1962. “Th e price pressure from the East is still pushing down the market price.”

Hansen believes now is the time to address this. “If we don’t deal with it now as part of this big China trade deal, then 232 is a Band-Aid that’s just not going to work,” he said.

Here’s a breakdown from other re-gions:

EuropeEuropean steelmakers were ini-tially furious about Trump’s tar-iff s, but not because of fears they might lose access to the US market. Instead, they were concerned that

steel heading for the US would be rerouted to Europe.

Th at fear was somewhat realised, with shipments into Europe — large-ly from Turkey — increasing about 12% last year to the highest level since 2007. Th at provoked the Eu-ropean Union (EU) to implement its own protectionist measures, called safeguarding, that caps the amount of tariff -free imports to the region.

Those measures were imple-mented last month, with the idea they should be able to curb the re-cent growth in imports.

The European aluminium in-dustry, meanwhile, faces a diff erent situation, according to Gerd Götz, director-general of European Alu-minium, a lobby group for the in-dustry. Th e combined impact of the metal tariff s and the US-China tariff s led to increased European sales of aluminium products to the US, since the import tax on China was higher than the all-in toll placed on Europe.

US imports of aluminium and aluminium products from the EU grew by about 17% to US$1.72 billion in 2018 compared with the previous year, he said. Meanwhile, the Euro-pean industry has been pushing for a broader deal to address “China’s unfair subsidised aluminium over-capacity,” Götz said.

AsiaIn Asia, steelmakers have yet to feel much of an impact from the US metal tariff s. China, maker of half the world’s steel, has managed to exert greater control over its steel market through structural reforms

that mitigated their eff ect, according to Yoku Ihara, the head of Growth & Value Stock Research of Japan.

China’s push to create domestic demand has “so far worked, keep-ing steel market conditions favour-able,” Ihara said. “Th at factor has outweighed the eff ect of the tariff s.”

Ihara, though, warns that those conditions may not last. China's economy faces a turning point as the negative impact of the trading war with US has begun to emerge outside the steel sector. Th e Asian giant has been on a building spree, at a faster pace than needed, Ihara said, and could eventually see de-mand fall short.

“Steelmakers will need to be pre-pared for a radical change in market conditions,” he said.

What Bloomberg Intelligence says: Robust steel prices in China, driven by supply-side cuts and sus-tained domestic demand, has made it more profi table for Chinese mills to sell to the home market than to export, said Metals & Mining ana-lyst Yi Zhu.

Japanese steelmakers have also seen limited impact from the tariff s as many of their products are getting approval through US Commerce Department exemptions.

Shinichi Nakamura, executive vice president of Nippon Steel & Su-mitomo Metal Corp, Japan’s biggest producer, was initially concerned that the metal blocked by the US tariff s would fl ow into Southeast Asia, hitting Japan’s export market, but such a phenomenon hasn’t oc-curred, he said. — Bloomberg

FROM PREVIO U S PAGE

1 8 W O R L D B U S I N E S S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

Fake Chinese Range Rovers barred in rare mainland court victoryBEIJING: A Chinese court or-dered a local carmaker to stop selling a copycat version of the Range Rover Evoque in China, a rare legal victory for foreign companies locked in intellec-tual property disputes with lo-cal fi rms. Th e Beijing court also ordered Jiangling Motors Corp to immediately stop making the Landwind X7 after fi nding it copied fi ve unique features from the Evoque, manufacturer Jaguar Land Rover Automotive Plc said in a statement last Fri-day. Th e Beijing Chaoyang Dis-trict Court also ruled that Jaguar Land Rover be paid compensa-tion, the company said, without giving an amount. — Bloomberg

Australia’s 10-year bond yield drops below 1.8% to record lowSYDNEY/SINGAPORE: Aus-tralia’s 10-year bond yield fell below 1.8% for the first time following a global rally in devel-oped debt markets last Friday, with the inversion of the US curve adding to concern global growth is slowing. Th e yield on the Australian 10-year securi-ty fell as much as eight basis points to 1.757%, as the bond market indicated further dete-rioration in the local and global economy. “If the Reserve Bank of Australia (RBA) is slow to cut or respond to global headwinds, then we can see Australia’s yield curve flattening dramatical-ly,” said Tano Pelosi, portfolio manager at Antares Capital in Sydney. — Bloomberg

Westpac takes A$260m earnings hit to compensate customersSYDNEY: Westpac Banking Corp will take a A$260 million (RM750.2 million) hit to fi rst-half cash earnings to compen-sate customers for poor fi nan-cial advice, pushing its total remediation bill past A$650 million. Th e cost could climb further, with the bank still re-viewing further cases where cus-tomers may have been charged for services they did not receive. “As part of our ‘get it right put it right’ initiative we are deter-mined to fi x these issues and stop these errors occurring again,” chief executive offi cer Brian Hartzer said in a state-ment yesterday. — Bloomberg

Huawei seeks to raise investment in foreign universities — FTNEW YORK: Huawei plans to increase investment in foreign universities even as US law-makers urge institutions to cut ties with the Chinese tele-communications company, the Financial Times (FT) reports, citing board director William Xu. Huawei spends more than US$300m a year on university funding and partnerships. Xu said: “Our collaborations with universities, especially in basic research not only will not stop but will increase”. — Bloomberg

I N BR I E FChina has a lot of fi nancial opening up to do — PBoCTh e central bank will focus on providing more hedging tools to investors to manage risks

BY Y I N A N Z H A O, K E V I N H A M L I N

& LU C I L L E L I U

BY N ATA S H A D O F F

BY A I B I N G G U O

Yi says he promises to help people hedge their money in Chinese markets, something that foreign companies and investors have been asking for. Photo by Reuters

BEIJING: Th e openness of China’s fi nancial markets to the rest of the world is not high, so there is a lot of room for increased access, according to People’s Bank of China (PBoC) governor Yi Gang.

Yi said foreign fi nancial services institutions should be treated the same as domestic ones in terms of shareholding proportions, scope of business and licenses. Speaking at a forum in Beijing on Sunday, he said the central bank will focus on pro-viding more hedging tools in 2019 to help investors manage risks.

Offi cials made repeated pledges at the China Development Forum over the weekend to open up more

of the economy to foreign companies and ensure a level playing fi eld with domestic fi rms. Th e government is also seeking to bring foreign exper-tise and capital into play at a time of slowing economic growth, high debt

MOSCOW: Th e technocrats who run Vladimir Putin’s fi nance ministry know well that the next geopoliti-cal crisis could be just around the corner. Th is year they are preparing early for potential turbulence, stock-piling cash while times are good.

The ministry borrowed more than US$7.2 billion (RM29.3 billion) so far in March through local cur-rency and Eurobond sales, almost four times the monthly average in 2018, capitalising on a recovery in demand among foreign investors. Finance Minister Anton Siluanov said last Friday that the huge amount raised gives the country room to start trimming sales in the local market.

Russia is running the widest budget surplus in a decade, so does not actually need to sell bonds, but the bumper borrowing now could be a precautionary move against potential US sanctions later in the

Russia battens down hatches with US$7.2b borrowing spree

year. A bill under discussion in Con-gress proposes banning American investors from taking part in sales of Russian sovereign debt to pun-ish Moscow for alleged election interference, among other things.

“Th e recent spate of bond sales is an opportunistic strategy to build reserves for more rainy days in the future,” said Per Hammarlund, chief

emerging markets strategist at SEB AB in Stockholm.

A move by the fi nance ministry to abandon the practice of giving targets before bond sales allowed it to take full advantage of a surge in appetite for emerging market debt this year as the Federal Reserve took a softer line on the outlook for rate hikes. — Bloomberg

HONG KONG: China’s oil giants aim to spend the most in fi ve years in pursuit of higher energy output. But unlike global rivals investing in top-tier assets, the state-owned producers are trying to boost supply from fi elds that are either old and high-cost or new and challenging.

China’s big three — PetroChina Co, Sinopec Corp and Cnooc Ltd — are raising combined capital expenditure to about 517 billion

SINGAPORE: Singapore’s core in-fl ation rate eased to a nine-month low in February, reinforcing expec-tations that the central bank will keep monetary policy unchanged when it meets next month.

The core inflation rate was 1.5% on a year-on-year (y-o-y) basis, data showed yesterday, its lowest since May 2018, and below the median forecast in a Reuters poll for a 1.7% rise.

“Th e lower-than-expected in-fl ation print basically reinforces our call for MAS ( Monetary Au-thority of Singapore) to stay un-changed (in April),” UOB econo-mist Barnabas Gan said, referring to MAS, the central bank.

The MAS tightened policy at each of its semi-annual meetings in 2018, the fi rst tightening in six years. Its meeting next month comes against the backdrop of a raft of underwhelming domestic data and concerns over the health of the global economy. Th e core in-fl ation measure excludes changes in the prices of cars and accom-modation, which are more heavily infl uenced by government policies.

Meanwhile, Singapore’s head-line Consumer Price Index (CPI) edged up 0.5% in February from a year earlier, due to more gradual declines in private road transport and accommodation costs. Th e median forecast in the poll was for all-items CPI to rise 0.5%. In January, headline CPI rose 0.4% y-o-y. Singapore will release Feb-ruary industrial production data today. Factory output shrank to its lowest in two-and-a-half years in January. — Reuters

levels and concerns about long-term fi nancial stability.

“We need to improve the fi nan-cial risk prevention mechanism in line with fi nancial opening-up. Th e opening of the fi nancial sector isn’t the origin of fi nancial risks, but the opening could add to the complexity of risk control,” Yi said. He also prom-ised to help people hedge their money in Chinese markets, something that foreign companies and investors have been asking for.

“An important task for this year

is to study how capital markets can more accurately determine prices, supply suffi cient types of hedging tools so that all types of investors can more eff ectively manage risks,” Yi said. He added that increasing the type of fi nancial instruments avail-able enables optimisation of asset allocation.

Th e Chinese currency is a topic in the ongoing trade talks with the US, with the Trump administration concerned about Beijing’s poten-tial devaluation to blunt the impact of tariff s. According to Yi, a fl exible currency exchange rate is a “comple-mentary” step in China’s opening as it helps absorb risks. Top offi cials have previously promised that they will not use manipulation of the yuan to gain a trade advantage. — Bloomberg

China’s big oil aims spending boom at old wells to heed call yuan (RM313.4 billion), up 18% from last year. Th at is almost back to levels seen before oil’s collapse in 2014, after Chinese President Xi Jinping ordered them to focus on raising domestic output to bolster national energy security.

Th eir spending plans contrast with global titans such as Royal Dutch Shell plc and Chevron Corp, who are keeping a tight grip on spending and returning cash to investors via dividends and share buy-backs. Meanwhile, Exxon Mo-

bil Corp is pouring money into world-class assets that will raise output in the coming years, includ-ing Guyana, Papua New Guinea and Brazil, as well as the Permian Basin.

Th at is not the case for the Chi-nese producers working mainly with costly wells and ageing fi elds at home. PetroChina, the biggest, is focusing its exploration eff orts in Xinjiang, where per-well spending could be 10 times higher than other fi elds, Huatai Financial Holdings estimates. — Bloomberg

Singapore’s core infl ation rate hits 9-month low as MAS decision looms

BLOOMBERG

W O R L D B U S I N E S S 1 9TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

Bond markets fl ash same warningYields are tumbling to the lowest levels in years

YouTube bows out of Hollywood arms race with Netfl ix and Amazon

BY R U T H C A R S O N

& S T E P H E N S P R AT T

BY LU C A S S H AW

SINGAPORE/HONG KONG: Just months after rising bond yields spooked markets, they are now tumbling to the lowest levels in years, underscoring concerns about slowing global growth.

Yields in Australia and New Zea-land dropped to record lows, after a closely-watched part of the US curve inverted last Friday as in-vestors wager a recession is com-ing. Trading volumes in Treasury future were more than double the norm in the Asian morning, while Japan’s 10-year yields fell to the lowest since 2016.

“Bond markets globally, along

DUBAI/LONDON: Uber Tech-nologies Inc is set to announce a US$3.1 billion (RM12.62 billion) cash-and-share deal to acquire its Dubai-based rival Careem Net-works FZ as early as this week, ac-cording to people with knowledge of the matter.

Th e US ride-hailing giant will pay US$1.4 billion in cash and US$1.7

SINGAPORE: Boeing Co plans to meet this week with customers and regulators to explain plans for getting its 737 MAX back into ser-vice, after the aircraft was ground-ed following two deadly crashes in less than fi ve months.

Th e planemaker invited more than 200 pilots, technical leaders and regulators for an informa-tional session tomorrow in Ren-ton, Washington, Boeing said in an emailed statement yesterday. The company said it met with some US and overseas customers on Saturday.

Boeing and the US Federal Avi-ation Administration have come under scrutiny over the 737 MAX aircraft’s certifi cation after crash-es of an Ethiopian Airlines fl ight this month and a Lion Air fl ight in October raised concerns about an automated safety system on the plane.

US air-safety regulators are leaning towards approving Boe-ing’s changes to software and

WASHINGTON: Microsoft Corp pres-ident Brad Smith waded into the debate over what legal duties that technology should have for content in the wake of the mosque killings in New Zealand.

“Th ere are legal responsibilities that need to be discussed,” Smith, also the software maker’s chief legal offi cer, wrote in a blog post on Sunday saying a company team had begun a pre-planned trip to the country the day before.

After a video of the killings went viral on social media, some poli-cymakers urged these sites to take greater responsibility for stemming the spread of violent content.

New Zealand Prime Minister Ja-cinda Ardern told parliament that it cannot accept “what is said is not the responsibility of the place where they are published”.

In the US, technology platforms generally have immunity for the content that users post, but pro-

with dovish central banks, have been telling us a slowdown is on the way,” Oanda Corp senior market analyst Jeff rey Halley said in Sin-gapore. “Some parts of the world will be better equipped than oth-ers to handle this. Th e US can at least cut rates and apply monetary tools, while things could be worse for Europe and Japan, where they cannot.”

Treasuries have led a global debt rally amid bets that a recession and a rate-cutting cycle are coming. Th e spread between yields on three-month US bills and 10-year notes inverted for the fi rst time since 2007 amid reports showing economic weakness in the US, France and Germany.

Money markets are pricing around a 90% chance that the US Federal Reserve will cut rates by 25 basis points by December, followed by another reduction in September 2020. Th is comes after the central bank projected no hikes this year at its policy meeting last week.

Open interest, a measure of out-standing positions across Treasury bond futures, jumped last Friday as yields on the 10-year cash bond dropped 10 basis points to 2.44%. Hedge funds and other specula-tors have also cut shorts in 10-year futures after holding record po-sitions as recently as September, according to the latest Commodity Futures Trading Commission data. — Bloomberg

Uber said to seal US$3.1b deal to buy Careem this weekBY M AT T H E W M A R T I N

& D I N E S H N A I R

BY B E N B R O DY

BY K Y U N G H E E PA R K

billion in convertible notes for Ca-reem, the people said anonymously because the talks are private. Th e notes will be convertible into Uber shares at a price equal to US$55 per share, according to the term sheet seen by Bloomberg.

Shareholders in Careem, whose backers include Saudi Prince Al-waleed bin Talal’s investment fi rm and Japanese e-commerce com-pany Rakuten Inc, were asked to agree to the transaction’s terms

by yesterday and a deal could be announced today, the people said.

Uber’s acquisition of Careem would come ahead of its imminent initial public off ering (IPO), which could be one of the New York Stock Exchange’s biggest-ever listings. Uber is expected to publicly fi le for an IPO in April, kicking off a listing that could value the company at as much as US$120 billion, people familiar with the plans had previ-ously said. — Bloomberg

Boeing plans to meet regulators, pilots to explain 737 MAX fi xes

pilot training for the MAX, the Wall Street Journal (WSJ) report-ed earlier, citing people familiar with the matter.

Extensive changes to the plane’s software will make its automated stall-prevention fea-ture less aggressive and more controllable, according to the WSJ’s report. Training will high-light information about when the system engages and how to shut it off , the report said.

The Maneuvering Charac-teristics Augmentation System (MCAS) was supposed to coun-teract a changed centre of gravity on the MAX, with larger and more powerful engines than its prede-cessors. Th e software intervenes automatically, without a pilot’s knowledge, when just one of two sensors indicates the aircraft is at risk of a stall. The so-called angle-of-attack vane provided a faulty reading to pilots of the Lion Air plane that crashed in October, according to Indone-sian investigators’ preliminary report. — Bloomberg

A fi lepic of a wing of the Boeing 737 MAX at the Boeing plant in Renton, Washington. US air-safety regulators are leaning towards approving Boeing’s changes to software and pilot training for the MAX, according to a WSJ report. Photo by Reuters

LOS ANGELES: YouTube has can-celled plans for high-end dra-mas and comedies, people with knowledge of the matter said, a pullback from its grand am-bitions for a paid service with Hollywood-quality shows.

Th e Google-owned business has stopped accepting pitches for expensive scripted shows, said the people anonymously because the decision has not been an-nounced. Th e axed programmes include sci-fi drama Origin and the comedy Overthinking with Kat & June, prompting their pro-ducers to seek new homes for the shows, the people said.

Th e retreat from direct com-petition with Netfl ix Inc and Am-azon.com Inc’s Prime Video ser-vice refl ects the high cost — in billions of dollars — needed to take on those deeply entrenched players, even for a rich technol-ogy giant like Google, the peo-ple said.

YouTube generated more than US$15 billion (RM61.05 billion) in advertising sales last year with-out a huge slate of glitzy produc-tions and concluded its money is better invested in music and gaming.

“In some ways, they never re-ally went all-in on the strategy,” Evercore ISI analyst Anthony Di-Clemente said. “Th at’s like bring-ing a butter knife to a gun fi ght.”

Th e strategy change, fi rst re-ported last November by the Hollywood Reporter, means all YouTube shows will eventually air for free. Th e company is still working out release strategies for the shows, the people said.

Th e shift also raises questions about the long-term future for Su-sanne Daniels, YouTube head of original productions since 2015. She was brought in to boost the volume and quality of YouTube’s original programming and is now looking to move on, according to people with knowledge of her thinking. — Bloomberg

Microsoft’s Smith urges talk of tech’s ‘legal responsibilities’

tections vary worldwide. It is not immediately clear how

Smith would change policy, although he appeared open to solutions be-yond industry best practices and self-regulation.

He urged prevention that ad-vanced video-identifi cation tech-nologies, as well as “browser-based

solutions — building on ideas such as safe search — to block the access-ing of such content when people at-tempt to view and download it”. He also urged consideration of a “major event” protocol, whereby technology companies would work from a joint virtual command centre during a major incident. — Bloomberg

A fi lepic of Smith at a conference in London. He says there are legal responsibilities needed to be discussed concerning content on technology platforms. Photo by Reuters

2 0 W O R L D B U S I N E S S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

I N BR I E FConsortium agrees to buy Inmarsat in US$3.4b dealBut takeover of the satellite operator could be closely scrutinised by British authorities

BY J U S T I N G EO R G E VA R G H E S E

Germany’s Scholz held talks with international banks — reportFRANKFURT: German Finance Minister Olaf Scholz and his state secretaries held talks with nearly 40 international banks in recent months amid deliberations over a possible merger of Deutsche Bank AG and Commerzbank AG, Redaktionsnetzwerk Deutschland (RND) reports. Th e conversations included European fi rms such as UBS Group AG and BNP Paribas SA, as well as global banks like JPMorgan Chase & Co, Citibank and Bank of China Ltd, accord-ing to the report, which cites a parliamentary question fi led by Green Party politician Danyal Bayaz. “Scholz has apparently sounded out in great detail how the global situation in the bank-ing sector is and which chances the German banks have,” Bayaz told RND. Scholz appeared to be the key driver behind the merger deliberations but refuses to ac-knowledge that role due to public criticism over a possible deal, he said. — Bloomberg

Deutsche Bank saysIndia bond buys distort market, backs CRR cutMUMBAI: The Indian central bank’s purchases of bonds to inject cash into the fi nancial sys-tem may have an unintended eff ect of distorting bond pric-es, according to Deutsche Bank AG. Th e Reserve Bank of India should instead consider cutting the cash reserve ratio (CRR), a move it last resorted to six years ago, as various reserve require-ments enforced by the authority so far are curbing deposit growth and transmission of rate cuts, said Srinivas Varadarajan, man-aging director for fi xed income and currencies at the bank’s In-dian unit. — Bloomberg

Sports Direct opposesany Debenhams planthat wipes out equityLONDON: British sportswear group Sports Direct has said any restructuring option pursued by Debenhams that could result in no equity value for the depart-ment store group’s shareholders “is not a workable solution”. De-benhams said last Friday it was seeking £200 million (RM1.07 billion) of additional funds from lenders, allowing it to pursue restructuring options to secure its future. It said some options would wipe out shareholders. Sports Direct, controlled by founder and chief executive Mike Ashley, is Debenhams’ largest shareholder with a near 30% stake. — Reuters

BENGALURU: A private equity-led consortium agreed to buy Inmar-sat plc for about US$3.4 billion (RM13.84 billion) in cash after the British satellite operator last year rebuff ed a slightly lower bid from US rival EchoStar.

The consortium includes UK-based Apax Partners, US-based War-burg Pincus and Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board.

Inmarsat shareholders will get US$7.21 cash, or 546 pence (RM29.30) per share. Inmarsat shares were up 8.5% at 549 pence by 0910 GMT, just above the off er price.

A takeover of the company could be closely scrutinised by the British authorities because of Inmarsat’s position as a strategic asset.

Th e company was the fi rst in-ternational satellite operator to be

BY C O N S TA N T I N E C O U R C O U L A S

ISTANBUL: Th e Turkish lira re-bounded, recouping losses after its worst day since a crash last year as the central bank reiter-ated its pledge to maintain price stability and said it was deter-mined to accumulate reserves.

Policymakers are probably seeking to end speculation that the regulator was using its stock-pile to support the currency before the Sunday elections. Th e currency advanced 3.4% in early trading, which could be volatile due to low liquidity.

Th e regulator’s statement fol-lowed a surprise tightening of the monetary policy last Friday and a statement from a central bank of-fi cial that said the drop in offi cial reserves was not anything out of the ordinary. Offi cials started in-vestigations into JPMorgan Chase & Co and other banks for stoking the lira’s drop. — Bloomberg

BY A M A N D A B I L L N E R

STOCKHOLM: Sweden will likely push through a proposal to force banks to keep off ering cash to customers who require it as the Nordic nation grap-ples with how to balance the rapid transformation into a cashless society.

privatised, and Apax was part of the group that invested in 2003, before taking it public two years later.

The offer comprises cash of

US$7.09 for each share plus a pre-viously agreed fi nal dividend of 12 US cents per share, representing a nearly 45% premium to Inmarsat’s

close on Feb 27, a day before media reports said EchoStar was expected to renew its interest in the company.

Inmarsat is a long established pro-vider of communication services to shipping and sees a growing oppor-tunity to supply in-fl ight broadband services to commercial aircraft.

Th e consortium said it received support from Inmarsat’s top share-holder Lansdowne Partners, which holds about an 11.4% stake in the company.

The consortium’s approach, which was made on Jan 31 but dis-closed only last week, came after Inmarsat rebuff ed a US$3.25 billion cash and stock bid from EchoStar last summer.

Colorado-based EchoStar had proposed a cash and stock off er of 265 pence in cash and 0.0777 EchoStar share for every Inmarsat share held, which valued Inmarsat at about 532 pence a share at the time. — Reuters

Inmarsat is a long established provider of communication services to shipping and sees a growing opportunity to supply in-fl ight broadband services to commercial aircraft. Photo by AFP

‘Fed may have to ease if downside risks take hold’

Sweden seen likely to force banks to handle cash transactions

Lira rebounds as central bank moves to allay market fears

Key lawmakers said in interviews over the weekend that the govern-ment would probably seek to enact proposed legislation that had been roundly criticised by the banking in-dustry and called potentially illegal.

“Th ere may be some changes, but mainly, what we proposed will be

carried out,” said Fredrik Olovsson, a key lawmaker for the ruling Social Democrats. “Th ere’s a broad majority for this, so I expect it will happen.”

Olovsson is part of a committee that is reviewing the central bank law, which proposed last year to make it mandatory for banks that

provide checking accounts and have more than 70 billion kronor (RM30.9 billion) in deposits from the Swed-ish public to off er cash withdrawals and handle daily receipts.

Th e legislation is a response to Sweden becoming one of the most cashless societies in the world, with

bank branches not off ering money withdrawals and stores not accept-ing cash. Some people are fi nding it diffi cult to cope without access to mobile phones or bank cards. Th ere are also fears around what would happen if the digital payments sys-tems suddenly crash. — Bloomberg

BY M AT T H E W B O E S L E R

& E N D A C U R R A N

NEW YORK/HONG KONG: Th e US Federal Reserve (Fed) may have to put interest rate increases on hold or even ease monetary policy if economic fore-casts for 2019 disappoint, Chicago Fed president Charles Evans (pic) said.

“At the moment, the risks from the downside scenarios loom larger than

those from the upside ones,” Ev-ans said in remarks prepared for a speech yesterday in Hong Kong.

“If activity softens more than expected or if infl ation and

inflation expectations run too low, then pol-icy may have to be left on hold — or perhaps even loosened — to provide the appropri-ate accommodation to obtain our objectives.”

The US central bank’s rate-setting

Federal Open Market Committee (FOMC)

surprised in-

vestors last Wednesday by bring-ing down its projections for further tightening. Eleven of the 17 FOMC offi cials expected it would be ap-propriate to leave rates unchanged for all of 2019. Th e pivot followed a three-year campaign in which pol-icymakers raised their benchmark overnight policy rate from near zero to just under 2.5%. Fed chairman Jerome Powell cited downgrad-ed estimates for economic growth during his post-FOMC meeting press conference, in part due to a slowdown overseas. Evans echoed that outlook, saying he expected US growth to slow to a 1.75% to 2% pace in 2019 following a 3.1% expansion in 2018.

“The lower end of this range is actually in line with my view of the economy’s long-run growth potential. So we’re not looking at a bad number,” Evans said. “Still, the economy won’t feel like it is doing very well compared with last year’s very strong performance.” — Bloomberg

BLOOMBERG

W O R L D 2 1TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

Trump claims vindication after no Russia collusion foundBut Democrats demand release of Mueller’s complete report

Thailand’s election results could take weeks

India bans most popular game over ‘Psychopaths’ fears

Netanyahu to shorten US visit after rocket attack on Tel Aviv

BY C H R I S S T R O H M

& S H A N N O N P E T T Y P I EC E

BY PAT P I C H A TA N A K A S E M P I PAT,

PA N A R AT T H E P G U M PA N AT

& PA N U W O N G C H A - U M

BY S A R I T H A R A I

BY TO VA C O H E N

BY G U Y FAU LC O N B R I D G E

& K Y L I E M A C L E L L A N

LONDON: British Prime Minister Th eresa May was under pressure yes-terday to give a date to leave offi ce as the price to bring Brexit-supporting rebel lawmakers in her party behind her twice-defeated European Union (EU) divorce treaty.

At one of the most important junctures for the country in at least a generation, British politics was at fever pitch and, nearly three years since the 2016 referendum, it was

BANGKOK: Thai election offi-cials said they would announce the winners of 350 parliamentary seats yesterday and more details of those contests would come on Friday, but a clear picture of the lower house’s 500 seats could take weeks to emerge.

A pro-army party is seeking a democratic mandate for junta lead-er Prayuth Chan-ocha to keep the premiership.

Already yesterday anti-junta parties claimed that there had been irregularities in Sunday’s election after partial results showed that the pro-army party was leading the popular vote.

Th e Election Commission said it would name the winners of 350 constituency seats of the 500-seat lower house of parliament, the House of Representatives, yes-terday,

A voter breakdown of those constituency contests would not be available until Friday.

SEOUL: North Korea has returned its staff to an inter-Korean liaison offi ce, Seoul said yesterday, just days after unilaterally withdrawing from the joint facility.

Th e offi ce in the Northern city of Kaesong was opened in September as the two Koreas knitted closer ties, but the North pulled its staff out last week amid a deadlock in talks be-tween Washington and Pyongyang.

The unification ministry said some of the North Korean staff were back at work yesterday saying they had come to cover their “shift as usual”.

“Th us, the South and the North

held consultations at the liaison of-fi ce this morning and will continue to operate the offi ce as usual,” the ministry said in a statement.

It said the North did not offer details on why they had returned or pulled out in the fi rst place.

Experts had suggested that the withdrawal was Pyongyang’s at-tempt of pressuring Seoul to exert more influence on the US in the current diplomacy.

Th eir return follows US President Donald Trump’s abrupt tweet at the weekend saying he had “or-dered” the withdrawal of addition-al sanctions against Pyongyang

by the US Treasury.South Korean President Moon

Jae-in was instrumental in broker-ing the talks process between the North and the US,. Moon has long backed engagement with the North to bring it to the negotiating table, and has been dangling the carrot of inter-Korean development projects.

But the failure by North Kore-an leader Kim Jong-un and Trump to reach agreement in Hanoi last month on walking back Pyongyang’s nuclear programme in exchange for relaxation of the measures against it has raised questions over the future of the process. — AFP

BANGALORE: India does not have much of a history with popular computer games, unlike the US or Japan. But now one of the industry’s kill-or-be-killed titles has become a smash hit.

PlayerUnknown’s Battlegrounds (PUBG) is a Hunger Games-style competition where 100 players face off with machine guns and assault rifl es until only one is left standing.

May urged to set her own exit date to get Brexit deal

still unclear how, when or if Brexit will ever take place.

With May humiliated and weak-ened, ministers lined up to insist she was still in charge and to deny a reported plot to demand she sets a date to leave office at a cabinet meeting yesterday.

Rupert Murdoch’s Th e Sun news-paper said in a front page editorial that May must announce she will stand down as soon as her Brexit deal is approved and the UK has left the EU.

“Time’s up, Th eresa,” the news-

paper said on its front page. The newspaper said her one chance of getting the deal approved by par-liament was to set a date for her departure.

May called rebel lawmakers in-cluding Boris Johnson, Jacob Re-es-Mogg and Steve Baker to her Chequers residence on Sunday, Downing Street said, along with ministers David Lidington and Mi-chael Gove.

Th e two ministers denied reports they were being lined up as a possible caretaker prime minister. — Reuters

WASHINGTON: Attorney-General (AG) William Barr handed Donald Trump the biggest political victo-ry of his presidency with an as-sessment that there was no collu-sion with Russia during the 2016 campaign and that there was not enough evidence to find he ob-structed justice.

Trump celebrated Sunday’s news with relish, tweeting “Com-plete and Total EXONERATION” and telling reporters that Special Counsel Robert Mueller’s 22-month inquiry into Russian interference was “an illegal takedown that failed.”

Yet the political fi ght over Muel-ler’s fi ndings is far from over, with top Democrats demanding the re-lease of his complete report — and

all the evidence he compiled — and threatening a subpoena fi ght that could end up in the Supreme Court.

“Congress requires the full re-port and the underlying documents so that the committees can proceed with their independent work, in-cluding oversight and legislating to address any issues the Mueller report may raise,” House Speaker Nancy Pelosi and Senate Demo-cratic leader Chuck Schumer said in a joint statement. “Th e Ameri-can people have a right to know.”

“Th e Special Counsel did not fi nd that the Trump campaign, or anyone associated with it, con-spired or coordinated with the Rus-sian government in these eff orts, despite multiple off ers from Rus-sian-affi liated individuals to assist the Trump campaign,” Barr said in a four-page letter to Congress on Sunday.

But the determination on wheth-er Trump sought to obstruct justice was less clear cut.

Mueller’s still-secret “report found evidence on both sides of the question” concerning obstruc-tion and “leaves unresolved what the special counsel views as diffi -cult issues of law,” Barr wrote. He quoted Mueller as saying, “While this report does not conclude that the president committed a crime, it also does not exonerate him.”

Nonetheless, Barr, who was ap-pointed by Trump after he fi red at-torney-general Jeff Sessions, went further. He said in his letter that he and Deputy AG Rod Rosenstein “concluded that the evidence de-veloped during the Special Coun-sel’s investigation is not suffi cient to establish that the President com-mitted an obstruction-of-justice off ense.” — Bloomberg

North Korea returns to inter-Korean liaison offi ce

Sudarat Keyuraphan speaking during a news conference at Pheu Thai Party headquarters in Bangkok, Thailand yesterday. She said her party will join forces with other anti-junta parties to form a government. Photo by Reuters

A further 150 seats that will be allocated on the basis of a complex formula involving voter turnout will not be announced until May 9. However, if there is enough de-tail in Friday’s numbers it might be possible to extrapolate the winners of the 150.

Two major political parties raised doubts yesterday about the accuracy of Thailand’s election results after a party linked to the military took a surprise lead in the popular vote count that suggested the country’s junta chief could re-main in power.

Meanwhile, one party said it was considering a legal challenge over what it said were poll irreg-ularities and, amid popular dis-may over the partial results, the number of signatures on an online petition to impeach the Election Commission leapt by more than 300,000 over a few hours to more than half a million.

“Th ere are irregularities in this election that we’re not comfortable with,” said Sudarat Keyuraphan, the Pheu Th ai Party candidate for prime minister. — Reuters

After China’s Tencent Holdings Ltd introduced a mobile version of the death match that’s free to play, it has become the most popular smart-phone game in the world.

Nowhere has resistance to the game been quite like India. Many cities have banned PUBG. Police arrested 10 university students for playing. One Hindi newspapers declared PUBG an “epidemic” that turned children into “manorogi,” or psychopaths. — Bloomberg

MISHMERET (Isreal): Israeli Prime Minister Benjamin Netanyahu said yesterday he would cut short his trip to the US after a rocket attack near Tel Aviv wounded seven people. An Israeli Foreign Ministry spokes-man said the projectile was fi red from Gaza.

Netanyahu, who arrived in Washington on Sunday for a four-

day visit ahead of Israeli election, said he would fl y home immedi-ately after meeting US President Donald Trump later yesterday.

Th e attack on Mishmeret, north of Tel Aviv, came at a time of high tension ahead of the anniversa-ry of Gaza border protests at the weekend, and Trump’s expression of support for Israeli sovereignty over the occupied Golan Heights. — Reuters

22 live it! W E L L B E I N G . T H E A R T S . W I N E + D I N E . S T Y L E + D E S I G N . L E I S U R E

TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

TURNING US$27,000 CARS INTO US$1M COLLECTIBLES

PersonalASSISTANTC O M P I L E D BY S O P H I YA S A B A PAT H Y

W O R K . L I F E . B A L A N C E

WATCH The Dirt, a new Netfl ix comedy based on Mötley Crüe’s best-selling book following four Los Angeles misfi ts that navigate the highs and lows of music superstardom. It is available for viewing at netfl ix.com.

BUY Pixi’s Overnight Glow Serum that works while you sleep to exfoliate and soothe the skin for a brighter complexion and glow in the morning. It is available for RM109 at sephora.my.

IF you love books, treat yourself to Book Love by Debbie Tung. It is a series of com-ics made for tea-sipping, spine-sniffi ng and book-hoarding bibliophiles. It is available for RM73 at malaysia.kinokuniya.com.

The Geneva Motor Show this year was character-ised by what might as well have been alien life forms. There was not much room to navigate between the US$2

million (RM8.14 million) electric cars in carbon fibre exoskeletons and US$3 million jet-propelled bugs designed to break 300mph (482.8kph).

But those who paid attention to more mundane matters were rewarded by a stylish Brit sitting quietly in the centre of it all — “mundane” being a relative term.

Th e £520,000 (US$685,000/RM2.79 million) Speedback GTs on display from David Brown Automotive are hand-built

UK’s David Brown Automotive is quietly cultivating a well-heeled fan base as the Singer Porsche of Jaguar

BY H A N N A H E L L I OT T

odes to times past. Open their doors, elegant and long like a woman’s glove, and encounter such sundry pleasures as burled-walnut steering wheels, tartan interiors, hand-braided saddle-leather accents, picnic sets of enamel crockery, and silver plated tools ingeniously fold-ed into hatchback trunks. Th e ruby-red Speedback GT sitting at the centre of the display was a dead ringer for a Jag-uar Jane Birkin would have driven — at least, from the front. From the back, it looked like a svelte Aston Martin.

You could be forgiven for guessing it is a remake of either. Th e cars are built using an original chassis, transmission, and suspension from a Jaguar XKR — that is the one featured in Die Another Day — with a custom-built aluminium body styled to look like an Aston Martin DB5. Th at is the one 007 drove in Goldfi nger.

David Brown, the eponymous founder of the Silverstone, England-based man-ufacturer, started selling them in 2014 after fi nishing a vintage motor car rally of his own and facing disappointment with the performance and reliability of the Ferrari Daytona he borrowed for the occasion. (By coincidence, a diff erent David Brown-owned Aston Martin and

was the namesake for the “DB” nomen-clature of its cars — DB5, DB9, and so on. Th at DB died in 1993.)

“Th e steering was heavy, the brakes by any standard poor, and it was woe-fully underpowered,” Brown said of the Daytona at the time. “It was also very uncomfortable.”

He was forced to abandon the rally after just two days, on account of the car getting stuck in second gear.

Th e experience got him thinking about how much more fun, driving-wise, it would be to combine the style of those beautiful cars from the late 1960s and early 1970s with contemporary power and technology that modern drivers ex-pect — things such as air conditioning, power steering, disc brakes and ade-quate sound systems. So Brown part-nered with designers from Land Rover and employed 40 builders to debut the fi rst Speedback GT and then, just this year, almost painfully endearing MINIs to go along with it.

Th ese classic gran turismo cars could travel long distances in comfort, but with the kind of allure a vintage car exudes from every crack.

For context on the work involved, pric-

The David Brown Automotive Speedback Silverstone Edition.

The cockpit of the Speedback Silverstone Edition embraces such modern luxuries as Bluetooth, parking sensors and climate control.

Each seat in the DBA Speedback Silverstone Edition comes with hand-stitched saddle leather; the back ledge is made to fi t custom luggage.

PHOTOS BY BLOOMBERG

live it! 23

W E L L B E I N G . T H E A R T S . W I N E + D I N E . S T Y L E + D E S I G N . L E I S U R E

TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY

ALMOST a decade in the making, three years late and at an estimated cost of US$434 million (RM1.77 billion), Qatar’s vast national museum, built in the shape of a desert rose, opens this week.

A glittering ceremony, expected to in-clude Qatar’s ruler Sheikh Tamim Ham-ad al-Th ani, Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah and French Prime Minister Edouard Philippe, takes place tomorrow, with the doors opening to the public the next day.

“Architecture to give a voice to heritage whilst celebrating (the) future,” tweeted the museum’s renowned French archi-tect Jean Nouvel, also responsible for the Louvre Abu Dhabi.

Th e pale, futuristic 52,000-sq m struc-ture located on Doha’s waterfront corniche will be the fi rst notable building visitors to Qatar see as they make their way from the airport to the city centre.

Even in a country which is being built, rebuilt and utterly transformed for the 2022 football World Cup, the national museum could be the single most eye-catching de-sign of all Qatar’s new buildings.

Th e entrance includes 114 fountain sculp-tures in a 900m-long lagoon and the muse-um’s multi-curved roof, which resembles a giant jigsaw puzzle, is made up of 76,000 panels in 3,600 diff erent shapes and sizes.

Inside, there is more than 1,500m of gallery space.

Among the exhibits is a 19th century carpet embroidered with 1.5 million Gulf pearls and the oldest Quran yet discovered

CULTURE BY D AV I D H A R D I N G

Qatar’s US$434m desert rose museum fi nally blooms

The back of the Speedback GT has a seat that fl ips up or folds down into the trunk. The new David Brown Automotive Mini Remastered costs £75,000, but extras such as roof racks, lighting, and interior trim materials send the price above £100,000.

This handout picture provided by the National Museum of Qatar on April 9, 2018 shows a general view of the museum building designed by French architect Nouvel. Nouvel will be attending the upcoming inauguration of the museum.

es on the discontinued XKR hovered in the US$90,000 range new; used ones can be found now for US$27,000 to US$47,500 on Autotrader. Brown representatives say each Speedback build takes about 8,000 hours over nine to 10 months.

Brown is hardly the fi rst small-batch builder to make modern jewels out of vin-tage cars. Many of them seem to be located in California. Rod Emory and Jonathan Ward’s small shops do beaucoup business on Porsches and trucks respectively, and others have made one-off , reimagined Ferraris of their own, though Singer Ve-hicle Design is perhaps the best-known at the moment. Singer trotted out its own special project in Geneva, too — a US$1.8

million “super-lightweight” Porsche DLS “reimagined” from a 1990 964 and created in partnership with Williams Advanced Engineering, a racing company.

That car, which initially debuted at the Goodwood Festival of Speed, comes on the heels of other six-figure Singer models that have become hugely popu-lar with collectors. Wait times can range from a year to three years, depending on how prominent the buyer is, or how close she or he is with company founder Rob Dickinson, former lead singer of a British rock band, Catherine Wheel.

Business is good for Brown, too. Sales have increased every year, to eight Speed-backs sold in 2018, according to a rep-

resentative manning the Geneva stand. Peter Haynes, a spokesman for DBA, says the shop has capacity for fi ve to 10 Speed-backs annually and will build 50 MINI Remastered models this year (the fi rst full year of production) and 100 in 2020. Th is year saw the most models yet on public display — fi ve of them in Geneva, rang-ing from the £75,000 MINIs to a £620,000 Speedback Silverstone Edition.

Brown will only ever make a total of 10 Silverstone Editions; depending on options, pricing can hit US$1 million. The 601-horsepower two-seater amps up the standard Speedback with enamel badging along its svelte front and sides, a signature grille, 20-inch alloy wheels,

twin light-emitting diode headlamps set in dark ceramic and brushed chrome, and a cockpit made to look like a classic jet plane, complete with antique tanned leather seats and detailed broguing. Where the rear seats would be, a bespoke luggage set is custom-fi t to store. Th e cockpit in-cludes satellite connectivity, Bluetooth, parking sensors, and surround sound from Bowers & Wilkins. In short, it is like the other GTs but more extra.

And while its V8 engine covers 60mph in 4.2 seconds, with a top speed of 155mph — not exactly world record stats — it will be just as rare and coveted as those mil-lion-dollar hypercars. By the end of the show, it had nearly sold out. — Bloomberg

in Qatar, also dating back to the 1800s.“Th is is a museum that narrates the sto-

ry of the people of Qatar,” Sheikha Amna Abdulaziz Jassim al-Th ani, the museum’s director, has stated.

The National Museum of Qatar also stands on the site of the former palace of Sheikh Abdullah Jassim al-Th ani — son of the founder of modern Qatar. Th e palace has been restored as part of the massive project.

Th e museum, which offi cials say cel-ebrates Qatar’s Bedouin past and ener-

gy-rich present, also refl ects the country’s massive wealth and ambition.

‘Post-blockade identity’And as well as an architectural and cul-tural statement, the new museum is also a political one by the Qataris.

It is among a growing list of spectacular buildings in Qatar, including the recently opened national library and Museum of Islamic Art further along the corniche.

Th e national museum is also the latest

in the cultural “arms race” and soft power course among Gulf nations, which includes Nouvel’s Louvre in Abu Dhabi opened to huge fanfare in 2017, designed to show-off the progressive aspects of the various competing emirate states.

And for Qatar, the museum’s delayed opening — originally scheduled for 2016 — has given it a chance to reinforce its national identity from other Gulf states, say experts.

Since June 2017, Qatar has been dip-lomatically and economically blockaded by neighbouring former allies, including Saudi Arabia and the United Arab Emirates, accused among other things of supporting terrorism. Qatar rejects all charges and says the blockade is an attack on its sovereignty.

The bitter dispute has fractured long-standing Gulf alliances and the new museum will allow Qatar to reinforce its separateness from its rivals, says Sigurd Neubauer, a Middle East analyst based in Washington. “On the basic level the museum represents Qatari identity which has really accelerated in the post-blockade environment,” he said.

At the same time as the reputation of Do-ha’s rivals appear “inward-looking and re-gressive”, because of incidents like the murder of Saudi journalist Jamal Khashoggi, Qatar’s standing is the “opposite”, adds Neubauer.

“It’s really not about the building, Qatar is trying to create an environment and na-tional identity that provides a space towards independent thinking. “It is doubling down on its own progressive reforms.” — AFP

2 4 S P O RT S TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY

PARIS: Germany’s Nico Schulz sealed a thrilling 3-2 win over the Netherlands in a see-saw Euro 2020 qualifi er as Joachim Loew’s new-look line-up sur-vived a severe test on Sunday.

Elsewhere, World Cup fi nal-ists Croatia stumbled to a 2-1 defeat in Hungary, and Eden Hazard celebrated a century of caps with the opening goal in Belgium’s 2-0 win over Cyprus.

A revamped Germany raced into a 2-0 lead in Amsterdam with thrilling strikes from Leroy Sane and Serge Gnabry but the hosts struck back with a second half header from Matthijs De Ligt before Memphis Depay pounced for an equaliser on 63 minutes.

Th e four-time world cham-pions were put under immense pressure from a Netherlands side seeking a winner but the visitors, who were booed by their own fans in a 1-1 friendly draw against Serbia last Wednesday, snatched victory in the 90th min-ute through 25-year-old Schulz. Th e Hoff enheim midfi elder, who made his international in Au-gust, tapped home a loose ball after a tireless Sane had taken the defence with him on a run into the box.

The win comes after Loew took an axe to Germany’s squad ahead of the qualifying campaign in the aftermath of last year’s ca-lamitous World Cup elimination, when he told Bayern Munich trio Th omas Mueller, Jerome Boateng and Mats Hummels they had no future in the national side.

Bayern stopper Manuel Neuer may also come under pressure for his place after De Ligt beat him with a fl ying header just after the restart. Neuer, 32, was also slow to react as Depay pounced for the equaliser.

Dutch ‘keeper Jasper Cillesen was left with little chance after Gnabry ended his mazy run by outwitting Virgil Van Dijk before sending a rasping long-range eff ort into the bottom corner in the early action. — AFP

Germany edge Dutch in Euro thriller as Croatia stumble

Casey defends Valspar Championship He secured a one-stroke win over Oosthuizen, Kokrak

BY A N D R E W B OT H

BY S T E V E B R E N N E R

BY N A B I L A A H M E D

& S C OT T S O S H N I C K

BY D A M I A N M C C A L L

Hazard marks century with goal as Belgium breeze past Cyprus NICOSIA: Captain Eden Haz-ard marked his 100th cap for Belgium as the World Cup semi-fi nalists strolled to a 2-0 victory over Cyprus in a Euro 2020 qualifi er. Michy Batshuayi ran into a cluster of defenders in the penalty box, with the ball falling to Hazard whose first-time curling shot from near the penalty spot fl oated into the corner of the net in the 10th minute. His brother Th organ Hazard returned the favour, fl icking on a pass into the box for Batshuayi to round Cyprus goalkeeper Urko Pardo, himself half-Belgian, and slot home after 18 minutes. — AFP

Mick Schumacher to make F1 debut in Bahrain test — report BERLIN: Michael Schumach-er’s son Mick is set to make his debut in a Formula One (F1) car in Bahrain next month. Th e 20-year-old son of seven-time world champion Michael could appear at a young driver’s test in April, according to a report in Auto Bild magazine. Teams will be obliged to test young drivers for two days at the mid-season test in Bahrain, and the young Schumacher is in line to take the wheel for Alfa Romeo Rac-ing on April 2 and April 3. Th e Alfa Romeo team have links to Ferrari, who signed Schu-macher as an academy driver in January. — AFP

Win not enough to prevent shock Olympics exit by Morocco JOHANNESBURG: Morocco made a shock exit on Sunday from the 2020 Tokyo Olym-pic Games football qualifying competition in Africa despite defeating the Democratic Re-public of Congo 1-0 in Rabat. The Congolese had won the fi rst leg of the second round tie 2-0 four days ago in Kinshasa thanks to a Jackson Muleka brace and they qualifi ed 2-1 on aggregate. Sofi ane Kiyine scored from a 27th-minute penalty for Morocco, but the Congolese did not buckle un-der constant second half pres-sure. — AFP

I N BR I E F

NORTH CAROLINA: Paul Casey be-came the fi rst player to successfully defend his Valspar Championship title when he secured a hard-fought one-stroke win over Louis Oosthu-izen and Jason Kokrak in Florida on Sunday.

Overnight leader Casey eked out a one-over-par 72 in the fi nal round, which was good enough to fend off his rivals in demanding, breezy and fi rm conditions at Innisbrook Resort in Palm Harbor.

After a three-putt bogey at the penultimate hole, the 41-year-old Englishman hit a tournament-win-ning shot from a fairway bunker to the heart of the fi nal green.

With two putts he finished at eight-under 276 for his third victory on the PGA Tour in 250 career starts.

Long-hitting Kokrak challenged Casey and was tied for the lead play-ing the fi nal hole, but he bogeyed for a 71.

MIAMI: Novak Djokovic remains on course for a record seventh Mi-ami Open title, but the world No 1 admitted to a loss of focus in a 7-5, 4-6, 6-1 victory over spirited Fed-erico Delbonis which booked his place in the last 16.

Djokovic is hoping to eclipse An-dre Agassi’s six ATP crowns in South Florida over the next week and al-though the 31-year-old endured

some shaky moments at Hard Rock Stadium, he still possessed enough quality during the key moments to see off the battling Delbonis.

Djokovic was not happy with let-ting a 5-2 advantage slip in the fi rst set and became furious with himself as the second squirmed from his grasp.

In the women’s draw, Simona Halep kept alive hopes of regaining the world No 1 ranking on Sunday, beating Polona Hercog 5-7, 7-6 (7/1), 6-2 to reach the last 16 where

she will play Venus Williams.Halep, 27, lost her place at the top

of the rankings following Naomi Osa-ka's triumph at the Australian Open earlier this year. But with Osaka fal-tering here on Saturday, Halep can return to the position she last held at the end of 2018 if she lands the Miami Open for the fi rst time.

“It’s always tough against Ve-nus”, said Halep, who has beaten the American in their previous three encounters. — AFP

NEW YORK: Ice Cube’s Big3 US bas-ketball league has secured the sup-port of sporting and entertainment stars including Serena Williams and Snoop Dogg as content partners for its US$10 billion (RM40.7 billion) bid to buy 21 regional sports networks from Walt Disney Co, according to a person familiar with the matter.

Th e league, started by the rapper and actor in 2017, submitted its off er in recent days, according to the per-son, who asked not to be identifi ed because the process is not public. While private equity fi rm Center-bridge Partners LP and jewellery maker Carolyn Rafaelian are fi nan-cial backers of the bid, Ice Cube is teaming up with Williams, Snoop

Dogg, Kevin Hart and Michael Stra-han’s SMAC Productions as content partners.

In pursuing the assets, the Ice Cube-led group is competing with John Malone’s Liberty Media Corp, Major League Baseball and Sinclair Broadcast Group Inc. Disney agreed to sell the 22 networks to win regu-latory approval for its US$71 billion takeover of 21st Century Fox Inc’s en-tertainment empire. Th e next round of bids are due mid-April and Disney is likely to decide a winner soon after that, people with knowledge of the auction said.

Representatives of the companies either declined to comment or did not immediately respond to requests for comment.

Big3 presented a plan to expand the Fox networks with 24-hour, cul-

turally diverse national programming built around live sports, people famil-iar with the situation said this month.

Ice Cube and his long-time man-ager and business partner Jeff Kwati-netz are targeting young people and and want to spend money on mar-keting and advertising the networks.

Rapper Snoop Dogg said Big3’s plans represented a new approach.

“We’ve had the same ole peo-ple delivering us sport and culture forever and I join the movement because we’re here to change all that,” he said in a statement.

Williams said she is backing Big3’s bid because “it’s so important to have diversity and new voices to deliver messages” to young people in a pos-itive way. Rappers Nas and LL Cool J are also collaborators on the project. — Bloomberg

‘Ice Cube to recruit Serena Williams for sports network bid’

Sweet-swinging Oosthuizen (69) made a fl ying start by holing a 25-yard bunker shot for eagle at the fi rst hole, but rued a bogey at the 16th.

Casey said the self-belief attained in winning last year had held him in good stead.

“Last year’s win was so big”, he told NBC television. “Th at felt like my fi rst victory as a professional. I’ve felt so diff erent since then, new confi dence.

“I’m getting older but I feel like I’m getting better. Th is is so cool.” — Reuters

Djokovic downs Delbonis; Halep battles into Miami 4th round

Djokovic reaching for a forehand against Delbonis in the third round of the Miami Open at Miami Open Tennis Complex, Miami Gardens, Florida on Sunday. Photo by Reuters

Casey celebrating with the winner’s trophy after the fi nal round of the Valspar Championship on the Copperhead course at Innisbrook Golf Resort on Sunday in Palm Harbor, Florida. Photo by AFP

2 5


YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia Main Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia

FBM KLCI 1,649.15 -17.51 -1.05FBM ACE 4,743.29 -71.50 -1.49FBM TOP 100 11,420.13 -117.06 -1.01FBM EMAS 11,563.51 -119.66 -1.02FBM MID 70 14,124.86 -127.69 -0.90FBM MIDS CAP 13,200.56 -154.22 -1.15FBM SMALL CAP 12,649.64 -156.18 -1.22FBM FLEDGLING 15,256.08 -136.97 -0.89FTSE4GOOD BURSA M’SIA 921.67 -9.58 -1.03FBM PALM OIL PLANTATION MYR 12,629.66 -143.65 -1.12FBM EMAS SHARIAH 11,651.08 -104.07 -0.89FBM HIJRAH SHARIAH 13,150.80 -103.18 -0.78FBM MIDS CAP SHARIAH 12,734.34 -170.03 -1.32

INDICES CLOSE +/- %CHGCONSTRUCTION 188.74 -0.96 -0.51CONSUMER PRODUCTS & SERVICES 676.58 -4.60 -0.68ENERGY 1,029.98 -10.49 -1.01FINANCIAL SERVICES 16,994.78 -179.99 -1.05HEALTH CARE 1,225.18 -7.58 -0.61INDUSTRIAL PRODUCTS & SERVICES 167.60 -1.41 -0.83PLANTATION 7,186.34 -6.51 -0.09PROPERTY 906.05 -6.97 -0.76REAL ESTATE INVESTMENT TRUSTS 984.95 -1.88 -0.19TECHNOLOGY 31.84 -0.63 -1.94TELECOMMUNICATION & MEDIA 680.16 -12.73 -1.84TRANSPORTATION & LOGISTICS 770.48 -11.94 -1.53UTILITIES 988.20 -7.78 -0.78

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS & SERVICES 1.093 0.700 0.950 0.920 0012 3A 0.950 0.010 187.2 0.940 16.05 2.11 467.4 0.410 0.205 0.255 0.245 5238 AAX 0.245 -0.010 7709.8 0.249 — — 1,016.3 0.490 0.300 0.430 0.420 7120 ACOSTEC 0.430 UNCH 1235.4 0.427 — — 83.7 2.606 1.390 1.530 1.490 6599 AEON 1.510 -0.020 1052.8 1.506 20.16 2.65 2,120.0 0.255 0.115 0.155 0.145 7315 AHB 0.155 0.005 2876.9 0.148 — — 27.3 9.830 5.289 9.190 9.110 7090 AHEALTH 9.160 -0.090 23.9 9.145 18.33 1.47 1,077.8 3.254 1.914 2.760 2.710 5099 AIRASIA 2.710 -0.080 7800.7 2.725 4.48 8.86 9,056.7 23.944 17.740 18.100 17.960 2658 AJI 17.980 -0.140 40 18.00 18.39 2.59 1,093.2 8.167 5.481 6.000 6.000 6351 AMWAY 6.000 0.080 1.8 6.000 18.09 3.33 986.3 0.035 0.005 0.020 0.015 5194 APFT 0.015 -0.005 542.1 0.020 — — 20.1 4.339 3.550 — — 6432 APOLLO 3.900 — — — 24.54 5.13 312.0 0.240 0.105 0.140 0.135 1481 ASB 0.135 -0.005 777.7 0.136 — 1.85 125.4 0.731 0.325 0.480 0.445 7722 ASIABRN 0.480 0.040 15 0.465 — — 111.7 2.811 2.353 2.520 2.500 7129 ASIAFLE 2.500 UNCH 3.9 2.503 10.69 6.00 486.9 4.800 4.015 4.500 4.490 7048 ATLAN 4.500 UNCH 10 4.495 18.88 4.44 1,141.4 0.425 0.130 0.160 0.130 8885 AVI 0.135 -0.015 13745.5 0.142 — — 115.9 38.127 21.397 35.400 34.900 4162 BAT 35.280 -0.200 150.3 35.07 21.49 4.39 10,073.5 2.450 1.766 2.340 2.300 5248 BAUTO 2.310 -0.020 2644.7 2.317 10.22 5.65 2,686.7 0.070 0.030 0.055 0.050 7243 BIOOSMO 0.055 UNCH 443 0.055 — — 43.7 1.802 1.280 1.620 1.600 5196 BJFOOD 1.620 UNCH 256.1 1.609 25.88 2.47 618.7 0.365 0.180 0.260 0.255 4219 BJLAND 0.260 UNCH 2112.8 0.259 — — 1,300.1 2.487 1.937 2.330 2.300 1562 BJTOTO 2.310 -0.030 702.2 2.315 12.93 6.71 3,120.9 0.384 0.205 0.255 0.245 9288 BONIA 0.245 -0.005 180.5 0.246 16.55 — 197.5 0.470 0.055 0.155 0.135 9474 BRAHIMS 0.145 UNCH 2828.6 0.145 — — 34.3 1.020 0.495 0.605 0.590 7174 CAB 0.595 -0.010 1430.4 0.595 14.95 0.84 385.1 1.279 0.609 0.905 0.900 7154 CAELY 0.905 -0.030 88.6 0.902 143.65 1.10 73.5 0.355 0.220 0.250 0.250 7128 CAMRES 0.250 -0.010 30 0.250 19.23 — 49.2 2.000 1.403 1.960 1.950 5245 CARING 1.960 0.010 20 1.953 20.44 2.55 426.7 26.600 16.940 26.600 25.820 2836 CARLSBG 26.500 UNCH 340.1 26.48 29.24 3.42 8,102.3 2.180 1.440 1.590 1.570 2925 CCB 1.590 0.010 11.7 1.583 7.18 — 160.2 1.010 0.365 0.615 0.590 7035 CCK 0.595 -0.020 1216.2 0.598 13.37 2.52 375.3 0.495 0.290 0.300 0.300 7209 CHEETAH 0.300 -0.010 0.2 0.300 52.63 1.33 38.3 1.992 1.400 — — 2828 CIHLDG 1.400 — — — 12.57 7.14 226.8 0.095 0.060 — — 5104 CNI 0.070 — — — 77.78 4.29 50.4 0.100 0.035 — — 5188 CNOUHUA 0.050 — — — — — 33.4 2.512 1.830 — — 7205 COCOLND 1.990 — — — 14.73 3.02 455.3 0.085 0.005 0.045 0.045 0301 CRG 0.045 UNCH 12.4 0.045 12.50 — 36.3 1.525 1.050 1.110 1.100 7202 CSCENIC 1.100 -0.010 105.6 1.102 18.33 5.45 132.5 0.020 0.010 — — 5214 CSL 0.010 — — — — — 12.4 0.540 0.415 — — 9423 CWG 0.415 — — — 9.79 3.61 52.4 0.040 0.025 0.030 0.030 7179 DBE 0.030 UNCH 642 0.030 — — 80.3 1.090 0.912 — — 7119 DEGEM 1.050 — — — — 0.95 140.7 4.309 2.140 2.400 2.370 5908 DKSH 2.380 -0.030 71.5 2.385 8.41 4.20 375.2 69.714 58.900 63.680 63.660 3026 DLADY 63.680 -0.420 1.1 63.66 31.47 1.57 4,075.5 1.463 0.925 1.200 1.160 7148 DPHARMA 1.200 UNCH 1328.3 1.195 16.55 3.39 794.3 2.543 1.600 1.920 1.870 1619 DRBHCOM 1.900 UNCH 2659.3 1.902 — 1.58 3,673.2 0.240 0.095 0.100 0.100 2097 EASTLND 0.100 UNCH 152 0.100 — — 24.6 0.665 0.509 — — 5081 EIG 0.660 — — — 20.50 4.55 156.5 0.085 0.050 0.060 0.060 7182 EKA 0.060 UNCH 5 0.060 — — 18.7 0.235 0.150 0.175 0.165 9091 EMICO 0.175 -0.005 75.1 0.167 — — 17.7 1.415 0.820 0.930 0.930 7149 ENGKAH 0.930 -0.070 0.2 0.930 9.87 4.84 65.8 0.185 0.155 — — 0302 ETH 0.170 — — — 51.52 — 41.7 0.280 0.125 0.135 0.130 7208 EURO 0.135 -0.005 276.6 0.135 — — 36.1 0.750 0.405 — — 7094 EUROSP 0.405 — — — — — 18.0 39.629 28.929 35.000 34.300 3689 F&N 34.400 -0.400 567.7 34.407 31.44 1.67 12,617.2 0.959 0.660 — — 2755 FCW 0.715 — — — 1787.5 13.99 178.7 0.543 0.409 0.470 0.470 6939 FIAMMA 0.470 -0.020 3.4 0.470 7.09 4.79 249.1 0.530 0.280 0.500 0.470 8605 FIHB 0.500 UNCH 184.4 0.485 9.06 — 54.5 2.070 1.150 1.810 1.790 9172 FPI 1.800 -0.010 530.1 1.800 12.16 5.56 445.2 0.950 0.600 — — 7184 G3 0.710 — — — — — 292.9 3.860 1.301 3.690 3.620 5102 GCB 3.630 -0.060 147.6 3.648 9.16 0.55 1,743.0 0.580 0.400 0.470 0.470 5592 GCE 0.470 UNCH 14 0.470 — 4.26 92.6 5.178 2.696 3.370 3.320 4715 GENM 3.320 -0.060 4479.4 3.342 — 3.31 19,714.3 8.837 5.851 6.920 6.840 3182 GENTING 6.860 -0.060 2392 6.865 19.28 2.11 26,595.5 0.245 0.100 0.125 0.120 5079 GETS 0.120 UNCH 26 0.121 — — 15.1 0.200 0.105 0.145 0.130 0136 GREENYB 0.145 0.010 648.5 0.138 51.79 2.07 48.4 5.120 2.446 2.720 2.680 7668 HAIO 2.700 -0.020 54.6 2.692 13.63 6.67 810.8 3.950 3.400 — — 5008 HARISON 3.800 — — — 11.58 5.26 260.3 0.255 0.055 0.120 0.115 5187 HBGLOB 0.115 -0.010 763.3 0.118 4.89 — 53.8 23.600 17.420 22.980 22.680 3255 HEIM 22.780 -0.200 22.9 22.79 24.36 3.95 6,881.8 12.115 8.420 10.000 9.900 3301 HLIND 9.920 -0.030 34.9 9.925 9.50 3.73 3,252.8 0.790 0.578 0.615 0.605 5160 HOMERIZ 0.610 -0.005 89.6 0.610 9.31 4.10 183.0 1.131 0.922 1.000 0.995 5024 HUPSENG 0.995 -0.005 55.8 0.997 18.53 6.03 796.0 0.420 0.280 0.330 0.305 8478 HWATAI 0.305 -0.015 140 0.325 — — 22.8 2.070 1.089 1.140 1.110 5107 IQGROUP 1.110 -0.020 75.1 1.127 — 9.01 97.7 0.060 0.030 0.035 0.035 7223 JADI 0.035 UNCH 626.4 0.035 — — 33.0 1.135 0.709 0.955 0.940 7152 JAYCORP 0.955 UNCH 114.1 0.948 12.00 3.14 131.1 0.453 0.330 0.395 0.385 8931 JERASIA 0.390 0.005 10.5 0.395 4.22 2.56 32.0 1.520 0.811 1.400 1.340 7167 JOHOTIN 1.350 -0.050 2158.9 1.361 10.73 3.70 419.1 0.400 0.280 — — 8672 KAMDAR 0.290 — — — — — 57.4 0.931 0.375 0.440 0.420 5247 KAREX 0.430 -0.005 2394 0.431 69.35 1.16 431.0 2.496 1.592 1.700 1.670 7216 KAWAN 1.670 -0.030 38.3 1.687 25.65 1.50 600.4 0.225 0.080 0.180 0.145 8303 KFM 0.170 -0.010 29.1 0.174 — — 11.6 0.675 0.540 — — 6203 KHEESAN 0.635 — — — 14.87 2.36 66.0 1.940 1.400 1.700 1.700 7062 KHIND 1.700 0.020 0.4 1.700 43.04 0.59 68.1 1.837 1.547 — — 0002 KOTRA 1.700 — — — 11.59 3.53 244.6 0.730 0.300 0.320 0.300 7130 KPOWER 0.305 -0.005 3.2 0.312 — — 23.2 0.145 0.075 — — 5172 KSTAR 0.080 — — — — — 30.5 0.140 0.050 0.065 0.065 4847 KTB 0.065 -0.005 30 0.065 — — 26.2 0.775 0.450 0.465 0.450 1643 LANDMRK 0.465 UNCH 677 0.451 — — 245.9 4.096 2.953 4.000 3.830 7006 LATITUD 3.940 UNCH 45.8 3.925 20.10 0.76 383.0 0.961 0.325 0.430 0.420 9385 LAYHONG 0.425 -0.010 3208.9 0.425 51.20 1.18 280.6 1.061 0.498 — — 8079 LEESK 0.900 — — — 14.31 2.78 151.0 3.242 2.119 2.690 2.670 7089 LIIHEN 2.680 0.010 88.7 2.679 8.35 4.29 482.4 0.630 0.366 0.385 0.375 7126 LONBISC 0.380 -0.010 1500.6 0.380 5.81 — 97.5 1.389 0.774 — — 7085 LTKM 1.200 — — — 9.63 1.67 156.1 5.340 3.833 4.770 4.700 7087 MAGNI 4.740 -0.040 58.6 4.726 7.64 2.95 771.3 2.480 1.631 2.400 2.350 3859 MAGNUM 2.370 -0.030 168.3 2.375 32.20 6.33 3,407.5 0.145 0.115 0.125 0.120 3514 MARCO 0.125 UNCH 100 0.122 9.33 4.00 131.8 0.030 0.005 — — 5189 MAXWELL 0.010 — — — — — 4.0 1.000 0.800 — — 5886 MBG 0.800 — — — 65.57 3.75 48.6 2.920 1.838 2.750 2.700 5983 MBMR 2.700 -0.050 220.6 2.723 6.37 2.22 1,055.4 0.405 0.185 0.320 0.295 7234 MESB 0.320 0.025 1.2 0.318 — — 26.2 0.220 0.177 — — 0301 MFGROUP 0.220 — — — 23.91 — 70.4 1.437 0.446 0.760 0.735 3662 MFLOUR 0.740 -0.025 7525.4 0.747 22.91 3.93 721.0 0.860 0.600 0.680 0.600 7935 MILUX 0.680 UNCH 6.8 0.640 — — 37.0 0.195 0.040 0.045 0.045 5166 MINDA 0.045 -0.005 20 0.045 — — 55.8 4.120 1.800 1.880 1.810 5202 MSM 1.880 0.010 3.6 1.850 37.08 — 1,321.6 0.040 0.005 — — 5150 MSPORTS 0.010 — — — — — 6.1 0.230 0.145 0.170 0.165 3891 MUIIND 0.165 -0.005 234.9 0.170 — — 483.9 2.650 1.620 2.460 2.410 3905 MULPHA 2.420 -0.040 70.7 2.450 3.28 — 773.5 1.709 1.252 1.400 1.370 5275 MYNEWS 1.370 0.030 686 1.374 35.31 0.73 934.6 152.73 128.81 145.50 143.60 4707 NESTLE 144.700 -1.500 99.1 144.59 51.50 1.94 33,932.2 3.254 2.500 — — 7060 NHFATT 2.700 — — — 15.93 3.80 223.2 0.050 0.030 0.035 0.030 7139 NICE 0.030 -0.005 239 0.034 2.94 — 21.1 0.320 0.136 0.285 0.270 7215 NIHSIN 0.280 UNCH 955.3 0.275 41.18 — 90.0 0.630 0.485 0.495 0.495 5066 NTPM 0.495 -0.005 2 0.495 25.92 4.85 556.0 0.580 0.300 0.450 0.450 5533 OCB 0.450 -0.035 2 0.450 — — 46.3 0.611 0.381 0.450 0.430 0049 OCNCASH 0.430 -0.015 60.4 0.445 17.41 2.12 105.5 1.020 0.631 0.805 0.790 7107 OFI 0.790 -0.015 196.4 0.793 16.95 1.90 189.6 0.135 0.090 0.110 0.105 3018 OLYMPIA 0.110 UNCH 593.9 0.110 10.89 — 112.6 6.880 5.742 6.590 6.450 4006 ORIENT 6.460 -0.140 328.5 6.503 8.00 3.10 4,007.7 1.055 0.460 0.615 0.600 5260 OWG 0.600 -0.020 387.2 0.607 11.30 — 166.3 6.070 3.125 3.620 3.580 7052 PADINI 3.580 -0.040 507.6 3.592 14.00 2.79 2,355.3 39.301 31.422 37.680 37.100 3719 PANAMY 37.680 0.020 7.4 37.60 21.12 3.93 2,288.9 0.422 0.300 0.390 0.390 5022 PAOS 0.390 0.020 1 0.390 58.21 2.05 70.7 0.380 0.230 — — 9407 PARAGON 0.305 — — — — — 21.4 0.650 0.225 0.260 0.250 5657 PARKSON 0.255 -0.005 1377.2 0.254 — — 278.9 0.430 0.185 0.380 0.365 6068 PCCS 0.365 -0.015 2850.3 0.370 5.62 2.74 76.7 0.880 0.290 0.355 0.340 5231 PELIKAN 0.350 0.020 254.2 0.347 27.78 — 193.7 0.640 0.340 0.410 0.410 9997 PENSONI 0.410 -0.025 12 0.410 — — 53.2 0.500 0.195 0.485 0.465 7080 PERMAJU 0.475 -0.005 19155.1 0.472 — — 93.1 28.201 22.497 25.660 24.600 5681 PETDAG 24.760 -0.080 171.2 24.76 28.96 3.92 24,597.9 0.180 0.135 — — 4081 PMCORP 0.140 — — — 30.43 — 108.3 0.210 0.035 0.045 0.040 1287 PMHLDG 0.045 UNCH 322 0.044 — — 41.8 0.559 0.431 0.500 0.490 5080 POHKONG 0.490 -0.005 132.9 0.494 8.69 2.04 201.1 1.640 1.093 1.560 1.530 7088 POHUAT 1.550 -0.010 275.3 1.537 6.06 3.87 362.1 19.000 16.860 18.080 17.680 4065 PPB 17.920 0.180 347.6 17.93 23.71 1.56 25,493.0 0.504 0.330 — — 7190 PPG 0.395 — — — 44.38 1.27 39.5 0.900 0.700 0.740 0.740 7168 PRG 0.740 UNCH 107.3 0.740 — — 239.3 0.842 0.495 0.590 0.585 8966 PRLEXUS 0.590 -0.005 122.9 0.590 15.01 2.54 106.4 0.315 0.220 0.235 0.230 0186 PTRANS 0.230 -0.005 2426.1 0.232 8.52 4.13 327.2

0.920 0.686 0.800 0.780 7134 PWF 0.795 -0.005 38.8 0.790 9.52 3.77 138.3 1.629 0.907 1.360 1.280 7237 PWROOT 1.280 -0.070 453.8 1.303 37.65 4.31 515.0 7.630 4.810 7.000 6.900 7084 QL 7.000 0.070 200.9 6.974 51.66 0.64 11,357.1 0.555 0.340 — — 9946 REX 0.420 — — — — — 103.6 0.265 0.180 0.210 0.205 0037 RGB 0.205 -0.005 4312.6 0.206 8.99 2.98 315.8 0.868 0.669 — — 5278 RHONEMA 0.770 — — — 13.95 4.25 140.6 0.667 0.341 0.375 0.365 0183 SALUTE 0.365 -0.005 44.9 0.366 62.93 6.58 141.6 0.445 0.115 0.335 0.330 9113 SANBUMI 0.330 -0.010 626.2 0.331 — — 82.2 0.475 0.200 0.240 0.235 5252 SASBADI 0.235 -0.010 2912.1 0.235 48.96 2.85 98.5 0.475 0.280 0.320 0.320 5157 SAUDEE 0.320 0.005 40 0.320 — — 42.4 0.675 0.577 0.630 0.625 9792 SEG 0.630 UNCH 490 0.630 18.53 4.37 796.7 1.570 1.250 1.460 1.390 5250 SEM 1.460 0.010 151.2 1.440 32.09 1.85 1,800.7 0.645 0.480 0.535 0.535 7180 SERNKOU 0.535 0.005 4 0.535 14.34 — 128.4 6.336 5.030 5.730 5.510 5517 SHANG 5.730 0.130 209.9 5.606 35.72 2.62 2,521.2 0.905 0.470 — — 7412 SHH 0.495 — — — — — 24.7 0.649 0.315 0.450 0.445 7246 SIGN 0.450 -0.005 60.5 0.449 38.46 3.33 108.1 2.863 2.040 2.220 2.180 4197 SIME 2.200 -0.030 4353.8 2.203 17.74 2.73 14,961.8 0.600 0.200 0.295 0.270 8532 SINOTOP 0.295 0.020 2.5 0.271 38.31 — 116.5 0.411 0.105 0.220 0.195 9776 SMCAP 0.195 -0.020 12906 0.208 — — 41.7 0.310 0.225 0.235 0.235 7943 SNC 0.235 UNCH 20 0.235 — — 15.5 0.370 0.280 0.290 0.280 5242 SOLID 0.280 -0.010 29 0.289 47.46 0.71 109.8 2.460 2.000 — — 7103 SPRITZER 2.190 — — — 18.98 2.51 459.9 2.830 1.920 — — 9865 SUIWAH 2.700 — — — 17.32 0.37 164.7 0.680 0.582 — — 0301 SUPREME 0.680 — — — 17.75 — 81.6 0.988 0.590 — — 7186 SWSCAP 0.660 — — — — — 120.3 0.347 0.197 0.230 0.220 7082 SYF 0.230 UNCH 15 0.223 — 5.43 142.4 0.420 0.270 0.300 0.290 7211 TAFI 0.290 -0.010 14 0.294 — — 23.2 1.877 1.330 1.550 1.520 4405 TCHONG 1.520 -0.030 62.1 1.537 9.82 1.97 1,021.4 1.460 0.695 1.060 0.970 7439 TECGUAN 1.010 -0.070 55.2 0.999 — — 40.5 0.363 0.220 0.240 0.235 7200 TEKSENG 0.240 UNCH 79 0.240 — 8.33 83.6 1.370 0.735 1.250 1.220 7252 TEOSENG 1.240 -0.010 513.3 1.237 12.25 2.42 372.0 1.090 0.837 1.000 1.000 9369 TGL 1.000 UNCH 5 1.000 6.53 5.00 40.7 0.640 0.475 — — 7230 TOMEI 0.510 — — — 14.96 1.96 70.7 0.460 0.300 0.410 0.395 7176 TPC 0.410 -0.005 96.8 0.399 29.08 — 95.9 6.897 4.200 5.800 5.660 4588 UMW 5.790 UNCH 246.1 5.760 13.85 0.86 6,764.4 2.478 2.050 2.200 2.180 7757 UPA 2.200 UNCH 5.1 2.188 17.38 3.64 175.1 1.130 0.750 0.880 0.865 7240 VERTICE 0.880 -0.005 7.4 0.876 — — 166.1 1.557 0.995 — — 7203 WANGZNG 1.110 — — — 16.95 3.60 177.6 2.339 1.990 2.100 2.100 5016 WARISAN 2.100 UNCH 0.1 2.100 18.32 1.90 141.1 0.210 0.090 0.100 0.090 5156 XDL 0.100 UNCH 19595 0.095 12.50 — 180.5 0.615 0.400 — — 7121 XIANLNG 0.410 — — — 1366.6 — 32.8 0.065 0.035 — — 5155 XINQUAN 0.055 — — — — — 26.7 2.307 1.800 1.930 1.890 5584 YEELEE 1.920 UNCH 11.3 1.917 9.82 2.34 367.9 1.284 0.950 1.180 1.170 5159 YOCB 1.180 UNCH 0.4 1.175 6.69 3.39 188.8 3.390 2.267 2.860 2.850 7178 YSPSAH 2.850 -0.030 7 2.852 12.93 2.46 394.5 1.472 1.165 1.380 1.360 5131 ZHULIAN 1.380 UNCH 13.8 1.365 12.13 5.80 634.8INDUSTRIAL PRODUCTS & SERVICES 0.120 0.070 0.070 0.070 7086 ABLEGRP 0.070 -0.005 73 0.070 — — 18.5 0.625 0.350 0.360 0.350 7191 ADVENTA 0.355 -0.005 15.6 0.355 34.47 — 54.2 2.068 1.744 1.880 1.860 9148 ADVPKG 1.860 UNCH 20 1.873 34.07 — 38.1 0.185 0.105 0.105 0.105 7146 AEM 0.105 UNCH 110 0.105 — — 31.4 0.740 0.370 0.510 0.495 5198 AFUJIYA 0.510 -0.010 8 0.507 21.34 — 91.8 0.380 0.200 0.265 0.255 2682 AISB 0.265 0.010 22.2 0.264 — — 38.3 0.640 0.491 0.540 0.525 7609 AJIYA 0.530 -0.010 96 0.529 6.46 1.89 161.4 0.905 0.420 0.540 0.520 2674 ALCOM 0.540 UNCH 61.1 0.523 21.09 — 72.5 1.391 0.989 — — 7083 ANALABS 1.180 — — — 13.49 1.69 141.7 0.682 0.366 — — 4758 ANCOM 0.480 — — — 4.72 — 115.6 3.111 1.150 1.550 1.510 6556 ANNJOO 1.530 UNCH 371.7 1.529 5.41 7.84 856.7 0.070 0.035 0.040 0.035 9342 ANZO 0.035 UNCH 2721.3 0.035 — — 30.8 0.880 0.665 — — 5568 APB 0.665 — — — — 4.51 75.1 3.695 2.680 3.020 3.010 5015 APM 3.010 UNCH 12 3.010 15.32 4.49 606.8 0.630 0.469 0.520 0.520 7214 ARANK 0.520 -0.010 29.8 0.520 6.55 4.46 88.1 0.951 0.581 0.655 0.655 7162 ASTINO 0.655 UNCH 38 0.655 7.93 1.53 179.5 1.880 1.340 1.770 1.750 8176 ATAIMS 1.750 -0.020 101 1.751 16.81 — 2,107.6 0.930 0.545 0.610 0.610 7099 ATTA 0.610 UNCH 3.1 0.610 7.19 13.11 130.1 0.600 0.074 0.375 0.350 7181 ATURMJU 0.350 -0.015 3323.8 0.362 5.63 — 37.9 0.924 0.596 0.790 0.770 7579 AWC 0.775 -0.015 723.4 0.778 8.61 0.97 223.2 0.425 0.313 0.340 0.330 5021 AYS 0.340 -0.005 308.8 0.335 6.97 7.35 129.3 1.930 1.180 1.290 1.230 8133 BHIC 1.230 0.050 105.9 1.258 — 2.85 305.6 0.515 0.260 0.400 0.385 7005 BIG 0.390 -0.020 141.9 0.393 28.06 — 18.8 0.195 0.115 0.130 0.130 6998 BINTAI 0.130 -0.005 284 0.130 5.73 — 37.6 0.395 0.245 0.270 0.255 3395 BJCORP 0.265 UNCH 33925.6 0.261 — — 1,382.0 0.754 0.500 0.525 0.525 0168 BOILERM 0.525 -0.005 19 0.525 12.10 3.33 270.9 0.090 0.040 0.045 0.040 7036 BORNOIL 0.045 UNCH 1856.3 0.043 — — 240.3 1.350 0.865 — — 6297 BOXPAK 1.080 — — — — — 129.7 1.150 0.814 1.100 1.080 5100 BPPLAS 1.080 -0.020 32 1.087 9.62 3.70 202.7 0.265 0.140 — — 9938 BRIGHT 0.200 — — — — — 41.1 0.600 0.260 0.360 0.360 7221 BSLCORP 0.360 -0.010 5 0.360 72.00 — 35.3 2.598 1.270 1.300 1.270 2771 BSTEAD 1.280 -0.020 232.6 1.284 — 5.86 2,594.5 0.190 0.070 0.115 0.105 7188 BTM 0.115 0.010 20.5 0.108 — — 16.3 3.160 1.830 3.000 2.970 5105 CANONE 2.970 -0.020 283.8 2.987 12.25 1.35 570.7 0.015 0.010 — — 5229 CAP 0.010 — — — — — 13.6 1.555 0.960 1.100 1.070 7076 CBIP 1.080 UNCH 95.6 1.082 12.18 3.70 581.3 2.355 1.515 1.920 1.920 2879 CCM 1.920 0.010 2 1.920 12.52 3.13 322.0 0.851 0.630 — — 8435 CEPCO 0.645 — — — — — 48.1 1.360 0.900 1.260 1.260 8044 CFM 1.260 UNCH 1 1.260 — — 51.7 0.475 0.330 — — 7187 CHGP 0.365 — — — 18.16 — 108.4 1.120 0.630 0.800 0.785 5273 CHINHIN 0.795 -0.005 384.1 0.792 18.28 3.77 442.3 2.000 1.446 1.790 1.790 5007 CHINWEL 1.790 -0.010 6 1.790 8.77 4.80 536.2 2.170 1.410 1.600 1.560 5797 CHOOBEE 1.600 -0.010 2.4 1.578 6.46 3.13 210.7 0.459 0.230 — — 7016 CHUAN 0.400 — — — 8.57 2.75 67.5 0.880 0.420 — — 8052 CICB 0.590 — — — — 1.64 53.1 0.055 0.035 — — 7018 CME 0.040 — — — — — 23.4 4.315 1.740 3.320 3.230 2852 CMSB 3.240 -0.060 312.6 3.273 13.07 2.47 3,481.0 0.900 0.400 0.450 0.415 7986 CNASIA 0.450 UNCH 23.1 0.433 12.71 — 20.4 1.370 0.735 1.110 1.060 5071 COASTAL 1.070 -0.030 38.1 1.086 — 1.87 569.0 0.317 0.080 0.110 0.105 7195 COMCORP 0.105 -0.005 176.2 0.106 — — 14.7 1.119 0.684 0.830 0.805 2127 COMFORT 0.830 0.025 257.3 0.815 19.95 1.20 466.4 0.030 0.020 0.025 0.025 5037 COMPUGT 0.025 UNCH 1000 0.025 — — 58.7 1.369 0.975 1.060 1.040 5094 CSCSTEL 1.050 -0.010 217.5 1.050 17.68 9.52 399.0 0.667 0.400 0.420 0.400 7157 CYL 0.420 0.020 38 0.405 — 9.52 42.0 0.410 0.295 0.345 0.345 5082 CYMAO 0.345 UNCH 4 0.345 — — 25.9 1.780 1.333 1.700 1.670 5184 CYPARK 1.680 -0.010 305.9 1.680 9.51 2.32 769.9 2.364 1.550 1.590 1.580 8125 DAIBOCI 1.580 UNCH 49.2 1.581 33.98 2.12 518.1 0.675 0.320 0.655 0.610 5276 DANCO 0.635 0.005 3967.7 0.640 12.70 2.36 189.2 0.535 0.120 0.315 0.295 7212 DESTINI 0.300 -0.010 12987.2 0.303 187.50 — 346.6 0.755 0.270 0.440 0.430 7114 DNONCE 0.435 -0.005 152.2 0.438 44.39 — 108.4 0.295 0.100 — — 5835 DOLMITE 0.110 — — — — — 31.3 0.170 0.070 0.140 0.135 5265 DOLPHIN 0.135 -0.010 199 0.136 — — 33.0 1.348 1.137 1.260 1.240 7169 DOMINAN 1.260 UNCH 8.8 1.249 6.20 5.56 208.2 2.713 0.598 1.600 1.550 7233 DUFU 1.600 0.010 1067.7 1.583 7.59 2.92 421.1 0.880 0.655 0.790 0.790 7165 DWL 0.790 0.005 2 0.790 — — 156.9 0.380 0.065 0.095 0.090 5178 DYNACIA 0.090 -0.005 2506.5 0.091 — — 40.1 2.950 1.818 2.820 2.800 1368 EDGENTA 2.820 UNCH 413.3 2.818 15.82 4.96 2,345.2 0.320 0.170 0.190 0.180 0064 EFFICEN 0.190 UNCH 128.9 0.183 — — 134.7 0.640 0.430 0.465 0.455 8907 EG 0.455 -0.020 791.5 0.458 7.50 — 123.4 1.555 1.071 1.310 1.310 5208 EITA 1.310 0.010 2 1.310 11.61 3.82 170.3 0.990 0.634 0.810 0.770 9016 EKSONS 0.810 -0.010 61.9 0.792 — 6.17 133.0 0.660 0.370 0.425 0.400 7217 EMETALL 0.425 -0.010 167.5 0.418 25.76 5.88 80.0 1.230 0.770 0.845 0.810 5056 ENGTEX 0.845 UNCH 79.5 0.826 30.51 1.78 374.6 0.485 0.365 0.370 0.370 7773 EPMB 0.370 -0.030 20 0.370 — — 61.4 0.625 0.335 0.375 0.370 5101 EVERGRN 0.375 UNCH 106 0.370 19.84 3.68 317.4 1.500 1.050 — — 2984 FACBIND 1.270 — — — 85.23 — 108.2 2.880 2.200 2.700 2.630 7229 FAVCO 2.680 -0.080 36.2 2.688 9.27 5.04 593.8 0.609 0.403 — — 0149 FIBON 0.410 — — — 19.43 1.83 40.2 1.970 1.703 1.920 1.920 3107 FIMACOR 1.920 -0.030 10 1.920 8.36 6.51 470.9 0.560 0.365 0.475 0.460 9318 FITTERS 0.470 -0.010 4639.5 0.467 13.54 — 225.8 1.870 0.914 1.650 1.630 5197 FLBHD 1.640 -0.010 248.8 1.641 5.97 11.28 173.1 0.441 0.172 0.300 0.295 5277 FPGROUP 0.295 -0.010 2739 0.295 17.66 3.39 153.0 1.230 0.600 — — 7197 GESHEN 0.610 — — — 11.71 — 48.8 0.545 0.420 0.460 0.460 5220 GLOTEC 0.460 -0.010 95.6 0.460 22.22 — 123.8 0.330 0.170 0.210 0.205 7192 GOODWAY 0.205 -0.005 728.7 0.209 — — 22.7 0.120 0.080 0.100 0.100 7096 GPA 0.100 UNCH 320.2 0.100 333.33 — 98.0 0.325 0.170 0.220 0.220 5649 GPHAROS 0.220 -0.010 72.7 0.220 57.89 — 29.9 0.686 0.420 — — 3247 GUH 0.470 — — — — — 130.6 1.050 0.670 0.940 0.850 5151 HALEX 0.865 -0.055 140.5 0.879 — — 91.7 10.000 9.031 9.950 9.750 3034 HAPSENG 9.800 -0.080 573.1 9.802 21.30 3.57 24,398.9 7.339 4.520 4.610 4.520 5168 HARTA 4.570 -0.050 5149.3 4.562 31.56 1.88 15,279.8 9.600 4.510 5.990 5.780 4324 HENGYUAN 5.790 -0.200 469.2 5.845 56.16 0.35 1,737.0 0.973 0.513 0.645 0.630 5095 HEVEA 0.635 -0.005 293.3 0.634 21.31 8.82 356.0 0.806 0.609 0.705 0.700 3298 HEXZA 0.700 -0.005 20 0.703 18.87 7.14 140.3 0.455 0.215 0.295 0.285 5072 HIAPTEK 0.290 -0.005 1474.8 0.290 17.16 1.72 389.8 1.360 0.705 1.090 1.050 5199 HIBISCS 1.050 -0.050 43867.8 1.069 5.02 — 1,667.6 1.680 1.110 — — 7033 HIGHTEC 1.200 — — — 12.31 2.92 48.7 0.776 0.465 0.585 0.575 8443 HIL 0.580 -0.015 303 0.579 11.28 3.02 193.7 0.680 0.335 0.670 0.650 5165 HOKHENG 0.650 -0.025 194.4 0.657 406.25 — 57.2 1.670 0.445 1.220 1.160 0185 HSSEB 1.170 -0.020 1369.5 1.190 — 0.66 580.2 0.480 0.130 0.260 0.245 2739 HUAAN 0.255 UNCH 24355 0.251 9.66 — 286.2 1.900 0.465 0.740 0.685 5000 HUMEIND 0.710 UNCH 548.6 0.720 — 2.82 340.2 0.130 0.090 0.100 0.100 9601 HWGB 0.100 UNCH 290 0.100 — — 35.7 2.308 1.709 2.090 2.050 7222 IMASPRO 2.090 -0.050 750.6 2.082 151.45 1.67 167.2 0.900 0.430 — — 5673 IPMUDA 0.500 — — — — — 36.2 0.255 0.100 0.160 0.145 7183 IRETEX 0.150 -0.005 297.7 0.150 — — 22.0 0.150 0.110 — — 8648 JASKITA 0.115 — — — — — 51.7 1.727 1.340 1.540 1.540 0058 JCBNEXT 1.540 0.060 0.1 1.540 21.27 2.92 212.2 0.255 0.165 0.185 0.180 9083 JETSON 0.185 0.005 23 0.184 — — 39.1 1.080 0.950 — — 7043 JMR 0.950 — — — — — 120.4 0.235 0.125 0.135 0.135 0054 KARYON 0.135 UNCH 180 0.135 8.54 2.22 64.2 0.630 0.446 — — 7199 KEINHIN 0.625 — — — 38.82 1.60 68.1 1.680 1.364 1.660 1.650 6491 KFIMA 1.650 UNCH 19 1.653 7.72 5.45 465.7 1.340 0.584 1.260 1.240 0151 KGB 1.250 UNCH 462.1 1.250 16.78 0.80 360.3 0.360 0.200 — — 6211 KIALIM 0.220 — — — — — 13.6 3.100 2.000 3.100 3.100 3522 KIANJOO 3.100 UNCH 1499 3.100 79.69 1.29 1,376.9 1.449 1.090 1.190 1.190 5371 KIMHIN 1.190 0.020 2 1.190 — 4.20 185.2 0.010 0.005 — — 5060 KINSTEL 0.005 — — — — — 5.2 1.460 0.780 1.220 1.200 9466 KKB 1.210 -0.020 184.4 1.212 17.69 1.65 311.9 0.225 0.070 0.125 0.115 7164 KNM 0.120 0.005 13832.9 0.120 — — 284.3 0.800 0.350 0.430 0.430 5035 KNUSFOR 0.430 UNCH 1 0.430 — — 42.8 1.680 0.890 — — 6971 KOBAY 1.450 — — — 9.39 — 148.0 0.290 0.120 0.290 0.245 7017 KOMARK 0.275 0.020 11108.4 0.267 — — 45.2 4.683 3.140 3.490 3.440 7153 KOSSAN 3.480 -0.010 391.6 3.469 22.08 1.72 4,450.7 0.685 0.470 0.515 0.515 9121 KPSCB 0.515 0.015 540 0.515 7.26 — 76.1 5.000 3.665 4.730 4.700 3476 KSENG 4.700 -0.040 24.5 4.703 41.81 2.13 1,698.9 0.595 0.285 0.510 0.440 5192 KSSC 0.505 0.045 2702.6 0.488 51.01 3.96 48.5

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share

MarketsB U R S A M A L A Y S I A M A I N M A R K E T

2 6 TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY



0.530 0.225 0.395 0.390 6874 KUB 0.390 -0.010 1221.1 0.393 — 3.85 217.0 0.520 0.250 — — 8362 KYM 0.320 — — — — — 48.0 4.660 1.800 2.290 2.190 3794 LAFMSIA 2.200 UNCH 871.9 2.215 — — 1,869.3 0.668 0.440 0.485 0.480 9326 LBALUM 0.485 -0.015 36 0.483 19.09 2.06 120.5 6.183 4.110 4.230 4.190 5284 LCTITAN 4.220 UNCH 432.2 4.208 12.20 4.03 9,738.9 0.762 0.400 0.500 0.490 5232 LEONFB 0.490 -0.005 173.4 0.493 5.82 3.06 151.9 0.280 0.100 — — 8745 LEWEKO 0.140 — — — — — 45.1 0.225 0.085 — — 7170 LFECORP 0.110 — — — — — 20.4 0.775 0.405 0.430 0.425 8486 LIONFIB 0.425 -0.010 20 0.426 16.54 — 98.4 1.300 0.450 0.520 0.510 4235 LIONIND 0.515 -0.010 3062.4 0.515 5.43 — 369.7 0.480 0.250 — — 9881 LSTEEL 0.290 — — — 7.57 — 37.1 0.115 0.075 0.080 0.080 5068 LUSTER 0.080 UNCH 1481.2 0.080 12.50 — 158.1 0.704 0.500 0.530 0.525 5143 LUXCHEM 0.530 UNCH 65.3 0.528 11.88 4.25 460.9 3.622 2.250 — — 9199 LYSAGHT 2.670 — — — 11.94 2.62 111.0 0.957 0.340 0.470 0.460 5098 MASTEEL 0.460 -0.005 562.2 0.465 28.22 1.96 196.5 0.905 0.531 0.860 0.790 7029 MASTER 0.835 0.050 2581.3 0.835 7.93 2.40 45.6 1.250 0.889 1.250 1.200 5152 MBL 1.240 UNCH 123.4 1.234 9.12 2.42 127.7 0.830 0.435 0.650 0.610 7004 MCEHLDG 0.630 -0.020 5.8 0.626 — — 28.0 0.225 0.090 0.135 0.130 3778 MELEWAR 0.130 -0.010 36 0.134 — — 46.7 0.715 0.435 0.605 0.605 5223 MENTIGA 0.605 -0.010 0.2 0.605 11.33 — 42.4 1.750 1.540 — — 6149 METROD 1.700 — — — 22.43 3.53 204.0 0.575 0.240 0.270 0.265 5001 MIECO 0.270 UNCH 676.1 0.268 — 3.70 141.8 0.120 0.045 0.060 0.055 7219 MINETEC 0.055 UNCH 326 0.055 — — 50.7 0.424 0.244 0.300 0.300 5576 MINHO 0.300 UNCH 107 0.300 8.62 1.60 102.2 0.940 0.667 0.905 0.890 5916 MSC 0.895 -0.010 243 0.896 10.43 1.12 358.0 0.105 0.053 0.080 0.075 0043 MTRONIC 0.080 UNCH 6050.9 0.077 — — 77.0 2.884 1.500 1.850 1.840 3883 MUDA 1.840 -0.020 222.4 1.844 7.24 1.90 561.3 0.530 0.225 0.300 0.270 5087 MYCRON 0.270 -0.030 239.2 0.277 27.84 — 88.3 0.640 0.335 0.480 0.475 7241 NGGB 0.475 -0.005 853.7 0.475 153.23 — 222.5 0.295 0.060 0.080 0.075 5025 NWP 0.075 -0.005 212 0.077 — — 29.4 0.777 0.563 0.685 0.655 4944 NYLEX 0.685 0.015 12.1 0.680 9.40 2.92 133.1 0.921 0.555 0.695 0.670 7140 OKA 0.680 -0.015 62.1 0.680 10.37 6.07 166.9 1.738 0.880 1.020 0.990 5065 ORNA 1.010 0.010 18.8 1.010 7.97 2.48 76.0 0.085 0.045 0.055 0.055 7225 PA 0.055 UNCH 3130 0.055 — — 102.9 1.219 0.700 0.810 0.795 8419 PANSAR 0.800 -0.005 1839.2 0.800 38.28 1.88 246.4 0.625 0.403 0.530 0.515 5125 PANTECH 0.520 -0.015 1074.1 0.522 8.21 3.81 389.3 10.004 7.665 9.080 8.950 5183 PCHEM 9.030 UNCH 2829.5 9.029 14.55 3.54 72,240.0 1.260 0.669 1.070 1.050 5271 PECCA 1.060 -0.010 140.3 1.059 14.13 4.72 199.3 5.292 3.280 4.900 4.900 5436 PERSTIM 4.900 -0.030 1 4.900 10.51 6.12 486.6 1.790 0.950 1.110 1.090 5219 PESTECH 1.100 -0.010 127.7 1.095 17.13 — 840.7 19.757 16.378 17.840 17.600 6033 PETGAS 17.700 -0.160 330.6 17.681 19.35 4.07 35,023.6 0.250 0.030 — — 7027 PETONE — — — — — — — 9.659 6.010 6.600 6.550 3042 PETRONM 6.560 -0.090 52 6.572 7.89 3.81 1,771.2 1.350 1.000 — — 3611 PGLOBE 1.100 — — — — — 205.3 0.174 0.090 0.140 0.130 7201 PICORP 0.130 -0.010 916.4 0.133 185.71 3.08 85.5 1.770 1.186 1.580 1.570 7095 PIE 1.580 -0.010 65.7 1.576 14.07 1.52 606.8 0.325 0.100 — — 7163 PJBUMI 0.315 — — — 26.25 — 25.8 4.268 3.081 3.520 3.360 7172 PMBTECH 3.360 -0.110 109.1 3.423 56.00 0.60 543.0 5.171 3.736 4.630 4.420 8869 PMETAL 4.500 -0.220 2681.5 4.517 27.81 1.44 18,090.2 0.570 0.450 — — 6637 PNEPCB 0.530 — — — — — 69.7 0.580 0.260 0.420 0.420 8117 POLY 0.420 -0.010 1.2 0.420 11.76 — 67.2 0.690 0.390 0.610 0.590 8273 PPHB 0.605 -0.010 304.8 0.600 6.01 — 114.1 0.946 0.492 0.640 0.625 9873 PRESTAR 0.640 0.015 268.6 0.632 11.37 6.25 131.1 0.101 0.035 0.055 0.050 7123 PWORTH 0.050 -0.005 8085.5 0.055 — — 204.7 0.915 0.705 — — 7544 QUALITY 0.815 — — — — — 47.2 0.500 0.190 — — 7498 RALCO 0.235 — — — — — 10.9 0.520 0.210 0.315 0.300 5256 REACH 0.305 -0.010 5309.8 0.308 — — 334.4 0.340 0.241 — — 7232 RESINTC 0.295 — — — 35.98 8.47 40.5 0.250 0.160 0.180 0.175 9954 RGTBHD 0.175 -0.010 1300.3 0.180 12.87 — 101.0 1.377 0.540 0.650 0.635 9741 ROHAS 0.640 -0.010 184 0.639 17.93 3.13 302.5 0.640 0.430 — — 7803 RUBEREX 0.445 — — — 14.59 3.93 112.2 4.049 3.580 3.810 3.810 5134 SAB 3.810 0.010 1 3.810 18.02 1.31 521.7 8.480 5.708 7.650 7.580 9822 SAM 7.640 -0.040 28.7 7.633 13.41 1.83 1,032.7 1.114 0.595 0.615 0.595 5147 SAMCHEM 0.605 -0.005 474.9 0.603 7.71 6.61 164.6 0.869 0.680 — — 7811 SAPIND 0.755 — — — 8.09 5.30 54.9 0.650 0.205 0.385 0.340 5170 SCABLE 0.365 0.025 1095.9 0.363 — — 115.7 1.882 1.000 1.150 1.110 7247 SCGM 1.120 -0.020 176.7 1.129 26.17 3.57 216.8 0.810 0.300 0.595 0.575 9237 SCIB 0.585 0.035 37.2 0.586 — — 50.2 2.031 0.885 1.140 1.100 0099 SCICOM 1.130 -0.010 95.4 1.110 17.33 7.52 401.7 9.377 6.350 8.570 8.490 4731 SCIENTX 8.500 -0.060 152.3 8.501 15.01 2.35 4,372.0 0.350 0.140 — — 7239 SCNWOLF 0.175 — — — — — 16.8 0.715 0.155 0.365 0.340 7073 SEACERA 0.340 -0.020 38977.2 0.353 — — 158.7 0.260 0.090 0.205 0.195 5145 SEALINK 0.200 -0.005 693.1 0.197 — — 100.0 0.480 0.180 0.380 0.380 5163 SEB 0.380 UNCH 5 0.380 — — 30.4 1.000 0.750 0.995 0.900 5181 SIGGAS 0.920 0.020 3338.1 0.947 34.46 0.87 172.5 0.690 0.410 0.580 0.580 7115 SKBSHUT 0.580 UNCH 1 0.580 11.11 — 23.2 1.619 0.945 1.340 1.310 7155 SKPRES 1.330 -0.010 1026.5 1.326 15.68 3.81 1,662.8 1.426 0.765 — — 7248 SLP 1.220 — — — 15.33 3.69 386.7 0.540 0.370 — — 7132 SMISCOR 0.445 — — — — — 19.9 2.036 0.720 0.840 0.805 5665 SSTEEL 0.805 -0.030 155.8 0.815 7.77 4.35 349.1 0.230 0.095 — — 7143 STONE 0.105 — — — — — 9.4 1.010 0.400 0.505 0.500 6904 SUBUR 0.505 -0.010 32.2 0.505 — — 105.5 1.024 0.520 0.675 0.650 7207 SUCCESS 0.670 UNCH 230.6 0.666 31.46 1.49 166.5 1.690 1.350 1.680 1.650 5211 SUNWAY 1.680 UNCH 888.9 1.668 12.42 3.27 8,273.4 1.583 0.978 1.160 1.100 7235 SUPERLN 1.150 -0.140 1506.9 1.135 15.01 1.65 184.0 2.255 1.410 1.430 1.410 7106 SUPERMX 1.420 -0.010 2255.8 1.416 15.96 2.56 1,931.6 0.395 0.180 0.290 0.285 5149 TAS 0.290 -0.005 432.3 0.286 21.64 — 52.2 8.280 4.050 4.700 4.700 4448 TASEK 4.700 -0.020 7 4.700 — 8.51 581.0 0.675 0.405 0.540 0.470 7097 TAWIN 0.495 -0.040 1911 0.506 — — 39.4 1.020 0.735 0.755 0.745 5289 TECHBND 0.750 0.005 233.3 0.749 — — 172.5 0.905 0.590 0.685 0.685 8702 TEXCHEM 0.685 0.005 4 0.685 — 14.60 85.0 3.080 2.070 2.570 2.510 7034 TGUAN 2.540 UNCH 143.8 2.550 7.63 3.15 347.8 1.600 1.040 — — 7374 TIENWAH 1.350 — — — — 5.93 195.4 0.700 0.410 — — 7854 TIMWELL 0.615 — — — 8.42 1.63 54.8 0.850 0.475 0.495 0.480 7285 TOMYPAK 0.495 UNCH 168.9 0.482 — 4.24 207.8 4.230 2.476 — — 5010 TONGHER 3.550 — — — 9.00 7.32 558.9 6.297 4.300 4.520 4.370 7113 TOPGLOV 4.480 0.050 4653.8 4.477 26.18 1.90 11,471.4 1.040 0.503 — — 7173 TOYOINK 0.620 — — — 19.08 1.61 66.3 0.840 0.620 0.780 0.735 5167 TURBO 0.765 0.005 57.3 0.754 12.62 1.31 82.6 3.070 1.953 2.680 2.640 7100 UCHITEC 2.640 -0.040 52 2.656 17.12 5.68 1,190.0 1.251 0.390 0.395 0.390 7133 ULICORP 0.390 -0.005 451.7 0.392 29.77 8.54 84.9 2.638 1.918 2.180 2.150 7137 UMS 2.150 -0.040 36.9 2.156 18.01 2.79 87.5 1.068 0.786 — — 7227 UMSNGB 0.990 — — — 9.68 3.03 79.2 1.180 0.871 1.100 1.070 7091 UNIMECH 1.070 -0.050 89.6 1.088 7.55 2.10 169.9 0.750 0.355 — — 4995 VERSATL 0.380 — — — — — 49.0 2.093 0.616 1.020 0.995 6963 VS 1.010 -0.020 16100.2 1.008 11.60 3.86 1,834.3 1.630 0.595 0.770 0.760 5142 WASEONG 0.765 -0.005 288.1 0.763 9.13 — 592.8 0.950 0.240 0.790 0.785 7226 WATTA 0.790 0.005 24 0.788 — — 66.7 1.363 1.104 1.260 1.260 7231 WELLCAL 1.260 -0.010 8.5 1.260 18.86 4.21 627.4 0.655 0.460 — — 7692 WIDETEC 0.560 — — — 14.14 — 25.1 0.900 0.550 0.570 0.560 7050 WONG 0.560 -0.020 4 0.568 7.39 — 64.2 0.750 0.500 — — 7025 WOODLAN 0.730 — — — 15.57 — 29.2 1.880 1.110 1.170 1.170 5009 WTHORSE 1.170 UNCH 7 1.170 — 5.98 280.8 0.756 0.415 0.635 0.600 4243 WTK 0.610 -0.030 1633.1 0.620 3.72 1.64 293.6 0.593 0.160 0.280 0.275 7245 WZSATU 0.275 -0.005 440.5 0.278 — 5.45 127.9 0.010 0.005 — — 7122 YFG 0.005 — — — — — 3.0 0.760 0.545 0.625 0.625 5048 YILAI 0.625 UNCH 10 0.625 — — 100.0 0.455 0.090 0.120 0.110 7020 YKGI 0.110 -0.010 785.6 0.115 — — 38.6 0.445 0.200 — — 7014 YLI 0.270 — — — — — 27.8CONSTRUCTION 0.743 0.241 0.430 0.410 5281 ADVCON 0.420 -0.005 1671.9 0.419 15.91 2.38 168.9 0.685 0.274 0.525 0.495 7078 AZRB 0.510 0.005 7903.7 0.513 20.82 1.75 304.9 0.360 0.155 0.195 0.190 5190 BENALEC 0.195 UNCH 463.5 0.191 — 2.05 168.1 0.385 0.165 0.185 0.180 5932 BPURI 0.185 UNCH 2147.2 0.185 71.15 — 70.7 0.876 0.725 0.790 0.770 8761 BREM 0.770 -0.020 24.1 0.780 58.78 2.60 266.0 1.210 0.790 1.150 1.090 8591 CRESBLD 1.090 -0.080 2342.7 1.118 2.64 3.67 192.8 1.840 1.574 — — 7528 DKLS 1.750 — — — 29.71 1.71 162.2 1.163 0.360 0.470 0.450 5253 ECONBHD 0.455 -0.010 6096.7 0.461 25.71 3.52 608.6 1.017 0.411 0.515 0.495 8877 EKOVEST 0.505 -0.015 12818.3 0.503 10.08 1.98 1,080.4 0.708 0.300 0.405 0.390 7047 FAJAR 0.395 -0.010 1339.9 0.398 10.53 3.80 147.7 0.898 0.475 0.655 0.640 9261 GADANG 0.640 -0.015 3025.9 0.646 5.05 4.69 423.5 5.008 1.948 2.880 2.810 5398 GAMUDA 2.840 -0.050 3645.4 2.839 14.46 4.23 7,009.6 1.688 0.580 1.290 1.210 5226 GBGAQRS 1.240 -0.010 2881.8 1.252 9.25 3.36 613.3 4.133 0.741 1.120 1.090 3204 GKENT 1.090 -0.030 2263.8 1.101 5.16 3.21 614.0 0.550 0.280 0.400 0.380 5169 HOHUP 0.385 -0.020 515.7 0.390 5.27 — 144.3 1.610 1.272 — — 6238 HSL 1.450 — — — 14.83 1.66 844.9 2.895 1.373 2.140 2.030 3336 IJM 2.130 0.030 2828.3 2.103 40.88 2.35 7,744.0 0.440 0.090 0.160 0.155 5268 IKHMAS 0.155 -0.005 2081.5 0.158 — — 84.5 0.661 0.444 — — 8834 IREKA 0.560 — — — — 3.57 104.6 1.560 0.405 0.775 0.755 4723 JAKS 0.760 -0.010 1887.8 0.763 24.13 — 444.3 1.735 0.990 1.280 1.240 7161 KERJAYA 1.240 UNCH 177.6 1.264 11.12 1.61 1,540.0 2.104 1.000 1.210 1.200 5171 KIMLUN 1.210 -0.010 671.3 1.209 6.46 4.55 401.6 1.070 0.750 0.830 0.830 9628 LEBTECH 0.830 0.075 0.1 0.830 1037.50 — 113.3 0.685 0.426 0.455 0.455 5129 MELATI 0.455 -0.015 7.3 0.455 22.75 2.20 54.6 1.433 0.800 — — 8192 MERCURY 0.850 — — — 25.30 4.71 34.2 1.500 0.240 1.410 1.380 5006 MERGE 1.410 0.010 17.4 1.393 — — 94.5 1.550 0.665 0.750 0.710 7595 MGB 0.750 0.030 48 0.747 11.74 — 372.7 0.658 0.225 0.395 0.370 9571 MITRA 0.370 -0.025 5474.7 0.379 6.58 5.41 331.6 0.245 0.115 0.170 0.160 5924 MTDACPI 0.160 -0.010 272.6 0.164 — — 37.1 0.750 0.265 0.365 0.335 5085 MUDAJYA 0.350 0.010 3278.3 0.354 — — 211.9 3.200 2.452 2.990 2.920 5703 MUHIBAH 2.960 0.010 183.6 2.978 9.83 2.36 1,431.6 0.483 0.220 0.255 0.245 7071 OCR 0.255 UNCH 651.4 0.251 — — 82.1 0.900 0.730 — — 5622 PEB 0.900 — — — 0.45 — 62.2 0.371 0.170 0.230 0.225 8311 PESONA 0.225 -0.010 655.5 0.229 18.91 4.44 156.4 0.822 0.190 0.265 0.255 5070 PRTASCO 0.255 -0.010 903.5 0.257 — 19.88 126.3 0.165 0.095 0.125 0.125 7145 PSIPTEK 0.125 UNCH 1481.3 0.125 25.51 — 43.6 3.103 2.050 2.180 2.160 9598 PTARAS 2.160 UNCH 0.8 2.170 24.08 9.26 358.3 0.689 0.315 0.370 0.365 6807 PUNCAK 0.370 -0.005 148.9 0.369 — 1.35 166.2 1.090 0.455 0.515 0.490 5205 SENDAI 0.495 -0.020 12264.8 0.501 5.47 — 386.6 2.307 1.272 1.830 1.780 5263 SUNCON 1.830 0.010 686.2 1.816 16.34 3.83 2,366.0 0.270 0.210 — — 9717 SYCAL 0.235 — — — 31.76 — 97.8 0.670 0.405 0.650 0.640 5054 TRC 0.645 -0.015 1835.2 0.645 14.90 4.34 309.9 0.580 0.295 — — 5042 TSRCAP 0.400 — — — — — 69.8 0.320 0.180 — — 0301 UNIWALL 0.320 — — — 20.00 — 117.0 1.040 0.770 0.975 0.960 7070 VIZIONE 0.965 -0.015 564.3 0.967 8.75 — 540.0 1.130 0.465 0.530 0.520 3565 WCEHB 0.530 UNCH 149.9 0.525 62.35 — 531.4 1.284 0.660 0.820 0.805 9679 WCT 0.820 UNCH 1313.5 0.815 10.30 3.66 1,161.5 0.630 0.150 0.280 0.260 7028 ZECON 0.265 -0.010 2498.4 0.269 3.14 — 34.7 0.125 0.025 0.090 0.085 2283 ZELAN 0.085 -0.005 3454.4 0.086 — — 71.8HEALTH CARE 0.625 0.350 0.360 0.350 7191 ADVENTA 0.355 -0.005 15.6 0.355 34.47 — 54.2 9.830 5.289 9.190 9.110 7090 AHEALTH 9.160 -0.090 23.9 9.145 18.33 1.47 1,077.8 1.463 0.925 1.200 1.160 7148 DPHARMA 1.200 UNCH 1328.3 1.195 16.55 3.39 794.3 7.339 4.520 4.610 4.520 5168 HARTA 4.570 -0.050 5149.3 4.562 31.56 1.88 15,279.8

6.388 4.540 5.850 5.710 5225 IHH 5.790 -0.030 1303.9 5.785 89.91 0.52 50,774.2 4.683 3.140 3.490 3.440 7153 KOSSAN 3.480 -0.010 391.6 3.469 22.08 1.72 4,450.7 1.837 1.547 — — 0002 KOTRA 1.700 — — — 11.59 3.53 244.6 1.170 0.840 1.040 1.000 5878 KPJ 1.010 -0.030 6211.9 1.018 24.16 1.98 4,473.7 4.086 2.261 2.400 2.370 7081 PHARMA 2.370 -0.030 26.3 2.387 14.50 6.75 617.4 2.255 1.410 1.430 1.410 7106 SUPERMX 1.420 -0.010 2255.8 1.416 15.96 2.56 1,931.6 0.835 0.695 0.725 0.715 0101 TMCLIFE 0.725 0.005 200.2 0.717 44.21 0.25 1,258.9 6.297 4.300 4.520 4.370 7113 TOPGLOV 4.480 0.050 4653.8 4.477 26.18 1.90 11,471.4 0.400 0.230 — — 0301 TOPVISN 0.400 — — — 34.48 — 102.2 3.390 2.267 2.860 2.850 7178 YSPSAH 2.850 -0.030 7 2.852 12.93 2.46 394.5FINANCIAL SERVICES 4.350 3.678 4.160 4.110 2488 ABMB 4.140 -0.020 672.3 4.136 11.94 3.70 6,409.2 17.360 11.741 17.360 16.980 5139 AEONCR 17.040 -0.080 139.7 17.04 11.51 2.48 4,274.5 2.574 2.153 2.240 2.210 5185 AFFIN 2.230 -0.010 87 2.229 8.60 2.24 4,428.8 14.760 10.137 14.640 14.500 1163 ALLIANZ 14.500 0.200 1.3 14.52 8.62 2.76 2,563.1 4.640 3.278 4.550 4.460 1015 AMBANK 4.500 -0.020 1876.8 4.498 10.42 3.33 13,563.8 1.240 0.900 — — 5088 APEX 1.060 — — — 26.24 — 226.4 4.360 3.252 4.250 4.150 5258 BIMB 4.180 -0.010 222 4.189 10.35 3.71 7,374.7 7.839 6.609 6.900 6.830 1818 BURSA 6.830 -0.070 436.9 6.864 24.63 3.75 5,515.1 7.043 4.986 5.220 5.100 1023 CIMB 5.120 -0.090 13937.3 5.165 8.57 4.88 48,970.0 0.400 0.240 — — 2143 ECM 0.270 — — — 50.94 — 129.6 1.480 1.114 1.400 1.380 5228 ELKDESA 1.380 UNCH 83.8 1.389 12.41 5.07 408.7 21.497 17.158 20.460 20.120 5819 HLBANK 20.300 -0.100 934.6 20.30 15.32 2.36 44,004.7 10.100 7.327 — — 5274 HLCAP 9.600 — — — 31.76 1.98 2,370.2 20.140 17.251 19.220 18.700 1082 HLFG 18.920 -0.540 307 18.94 11.14 2.11 21,711.0 0.900 0.645 0.770 0.750 3379 INSAS 0.765 -0.015 336.2 0.763 10.09 2.61 530.4 0.290 0.070 0.080 0.080 3441 JOHAN 0.080 -0.005 5 0.080 — — 49.8 0.780 0.500 0.520 0.500 6483 KENANGA 0.505 -0.020 445.8 0.507 30.79 5.94 365.0 2.339 1.560 1.570 1.560 2186 KUCHAI 1.570 UNCH 32.1 1.566 12.06 0.64 194.3 16.803 15.250 16.100 16.000 8621 LPI 16.000 -0.100 13.9 16.06 20.30 4.25 6,374.1 1.040 0.400 1.020 1.020 1198 MAA 1.020 -0.010 194 1.020 — 5.88 279.0 2.877 2.300 2.470 2.470 1058 MANULFE 2.470 UNCH 1.8 2.470 19.04 3.24 499.9 10.451 8.458 9.290 9.220 1155 MAYBANK 9.230 -0.060 8178.6 9.244 12.45 6.18 101,988.6 1.197 0.890 0.950 0.935 1171 MBSB 0.935 -0.015 2874.4 0.941 8.86 5.35 5,973.8 1.980 0.845 1.020 1.010 6459 MNRB 1.010 -0.010 317.4 1.011 6.32 — 774.7 1.370 1.010 1.080 1.050 5237 MPHBCAP 1.060 UNCH 87 1.057 61.27 — 757.9 1.077 0.966 1.000 0.990 6009 P&O 0.995 -0.005 47.6 0.993 — 5.24 285.5 25.762 21.721 23.880 23.700 1295 PBBANK 23.760 -0.100 3490.1 23.76 16.47 2.90 92,239.6 1.720 1.008 1.640 1.610 9296 RCECAP 1.640 UNCH 300.2 1.622 5.90 4.88 591.3 5.940 4.826 5.880 5.660 1066 RHBBANK 5.720 0.020 5323.7 5.752 9.97 3.06 22,937.5 0.695 0.461 0.620 0.610 4898 TA 0.620 0.005 721.7 0.618 14.22 6.61 1,061.4 4.900 3.098 4.810 4.550 6139 TAKAFUL 4.550 -0.090 1764.3 4.661 12.71 3.30 3,750.2 1.000 0.525 0.695 0.670 5230 TUNEPRO 0.670 -0.030 918.9 0.679 10.21 4.48 503.7PROPERTY 0.380 0.230 — — 7131 ACME 0.250 — — — 17.36 — 59.7 0.714 0.490 0.525 0.520 1007 AMPROP 0.520 UNCH 318.5 0.520 6.92 7.69 317.3 0.396 0.220 0.250 0.250 1007PA AMPROP-PA 0.250 UNCH 6.3 0.250 — 8.00 71.7 1.270 0.870 1.170 1.160 5959 AMVERTON 1.170 -0.030 4 1.165 5.66 — 427.1 0.650 0.280 — — 7007 ARK 0.360 — — — — — 17.5 0.165 0.110 0.120 0.120 4057 ASIAPAC 0.120 UNCH 769.7 0.120 7.10 — 124.5 6.345 4.200 — — 2305 AYER 4.310 — — — 16.01 1.16 322.6 0.440 0.220 0.295 0.280 6602 BCB 0.295 0.005 169.8 0.281 4.05 — 121.7 0.630 0.285 0.455 0.415 6173 BDB 0.420 -0.045 900.7 0.430 — — 127.6 0.420 0.180 — — 9814 BERTAM 0.275 — — — — — 56.9 0.539 0.245 0.305 0.295 3239 BJASSET 0.305 UNCH 315 0.301 — — 780.2 1.580 0.963 1.530 1.500 5738 CHHB 1.530 -0.020 90.8 1.519 4.91 — 421.8 1.367 1.190 1.300 1.280 6718 CRESNDO 1.290 0.010 19.3 1.289 12.59 4.65 361.8 1.590 1.108 — — 5049 CVIEW 1.510 — — — 2.14 3.31 151.0 3.000 1.918 — — 5355 DAIMAN 2.990 — — — 31.81 1.67 634.5 0.565 0.220 0.520 0.495 3484 DBHD 0.510 -0.010 1507.3 0.507 7.86 — 162.4 0.100 0.050 0.075 0.065 7198 DPS 0.075 UNCH 1.4 0.066 — — 44.1 1.656 0.825 0.920 0.900 3417 E&O 0.905 -0.005 1816.3 0.911 20.57 — 1,318.5 0.325 0.285 0.300 0.295 3557 ECOFIRS 0.300 0.005 205.5 0.298 10.49 — 240.9 1.450 0.890 0.945 0.915 8206 ECOWLD 0.920 -0.005 363.6 0.922 16.34 — 2,708.8 0.830 0.345 0.380 0.365 6076 ENCORP 0.380 0.020 16 0.366 — — 116.5 2.602 1.450 — — 8613 ENRA 1.450 — — — — 3.10 197.5 0.945 0.550 0.630 0.630 6815 EUPE 0.630 -0.030 19 0.630 4.34 — 80.6 0.885 0.303 0.585 0.575 7249 EWEIN 0.575 -0.015 1093 0.579 4.12 0.87 173.4 1.150 0.665 0.760 0.745 5283 EWINT 0.750 -0.010 125.1 0.747 51.02 — 1,800.0 0.445 0.340 0.375 0.355 6041 FARLIM 0.355 -0.020 88 0.359 — — 59.8 0.510 0.360 0.365 0.360 5020 GLOMAC 0.365 -0.005 302.6 0.363 10.70 4.11 292.0 0.394 0.240 — — 9962 GMUTUAL 0.275 — — — 17.19 1.82 103.3 0.290 0.170 0.185 0.185 1147 GOB 0.185 UNCH 4.4 0.185 — — 84.1 0.255 0.085 0.190 0.180 7077 GSB 0.190 UNCH 1371.9 0.182 — — 105.0 1.004 0.722 — — 1503 GUOCO 0.780 — — — 19.75 2.56 546.4 1.370 1.200 1.250 1.250 7105 HCK 1.250 UNCH 18 1.250 79.62 — 526.8 0.825 0.500 0.600 0.595 7010 HOOVER 0.600 UNCH 159 0.596 — — 24.0 0.530 0.300 0.390 0.385 5062 HUAYANG 0.390 UNCH 80.4 0.387 11.68 — 137.3 0.534 0.360 0.435 0.430 4251 IBHD 0.430 -0.005 89.3 0.431 7.76 4.95 435.3 0.750 0.150 — — 5084 IBRACO 0.690 — — — 11.37 3.99 342.5 1.860 0.550 1.160 1.090 9687 IDEAL 1.120 0.030 224.6 1.131 2.43 — 123.7 3.057 2.200 2.520 2.520 5606 IGBB 2.520 UNCH 1.5 2.520 7.04 0.79 1,737.6 1.861 1.210 1.400 1.360 5249 IOIPG 1.360 -0.040 1010 1.371 9.88 3.68 7,488.4 0.344 0.195 0.210 0.205 5175 IVORY 0.205 UNCH 61 0.205 — 12.20 100.5 1.430 0.365 0.715 0.690 1589 IWCITY 0.695 -0.015 7352.6 0.697 — — 582.0 0.380 0.250 0.310 0.290 8923 JIANKUN 0.310 -0.015 12.5 0.306 62.00 — 51.7 0.100 0.070 0.080 0.075 6769 JKGLAND 0.075 UNCH 758.6 0.077 35.71 1.33 170.6 0.125 0.070 0.085 0.085 3115 KBUNAI 0.085 UNCH 193.7 0.085 24.29 — 491.0 0.940 0.555 0.680 0.680 7323 KEN 0.680 UNCH 30 0.680 5.07 3.68 130.4 1.040 0.675 0.920 0.900 5038 KSL 0.910 -0.020 231.3 0.915 4.13 — 944.1 0.189 0.130 0.155 0.145 3174 L&G 0.155 0.005 1763.7 0.150 14.76 9.68 460.8 1.071 0.630 0.870 0.860 8494 LBICAP 0.870 0.005 17.4 0.867 20.33 3.45 71.5 0.973 0.600 0.645 0.630 5789 LBS 0.635 -0.010 552.8 0.634 11.55 3.46 990.0 0.405 0.270 0.285 0.270 3573 LIENHOE 0.285 UNCH 106.4 0.285 — — 103.1 1.190 0.830 — — 7617 MAGNA 0.930 — — — — — 311.5 1.242 0.890 0.930 0.920 8583 MAHSING 0.920 -0.020 237.7 0.923 11.75 7.07 2,233.5 0.831 0.390 0.505 0.485 6181 MALTON 0.490 -0.010 1659.9 0.492 29.34 4.08 258.8 2.045 1.707 1.930 1.900 5236 MATRIX 1.900 -0.020 223.6 1.913 7.24 6.84 1,430.3 1.999 1.480 1.650 1.630 7189 MBWORLD 1.630 -0.040 31.9 1.631 5.27 6.13 256.5 0.900 0.550 0.590 0.550 5182 MCT 0.550 -0.025 19.8 0.564 7.28 — 801.3 0.545 0.340 0.390 0.370 1694 MENANG 0.390 0.005 24 0.381 15.73 — 187.5 0.500 0.265 0.290 0.285 5040 MERIDIAN 0.285 -0.005 227 0.289 — — 140.4 0.370 0.190 0.225 0.205 8141 MJPERAK 0.210 -0.015 1106.3 0.215 17.65 — 54.0 1.468 1.110 1.290 1.260 6114 MKH 1.280 -0.020 181.6 1.272 9.43 2.73 750.8 0.280 0.160 0.190 0.190 8893 MKLAND 0.190 UNCH 111 0.190 11.18 — 229.4 0.105 0.020 — — 6548 MPCORP 0.045 — — — — — 12.9 1.029 0.534 0.825 0.810 1651 MRCB 0.815 -0.005 3349.7 0.817 47.66 2.15 3,585.9 0.600 0.390 — — 9539 MUH 0.530 — — — — — 29.9 0.320 0.170 0.175 0.170 3913 MUIPROP 0.175 -0.005 974.6 0.175 16.20 — 133.7 1.440 0.430 1.070 0.995 5073 NAIM 1.030 -0.010 9076.5 1.035 3.77 — 529.2 2.280 1.883 2.020 2.020 5827 OIB 2.020 UNCH 3.7 2.020 5.49 3.47 312.8 1.028 0.835 0.945 0.935 5053 OSK 0.945 UNCH 47.4 0.942 5.67 5.82 1,980.1 2.260 1.692 2.020 2.010 1724 PARAMON 2.020 UNCH 14.5 2.020 9.10 4.21 865.1 0.565 0.300 0.390 0.385 6912 PASDEC 0.385 UNCH 125.3 0.389 — — 154.1 0.040 0.015 0.025 0.020 4464 PHB 0.025 0.005 231.9 0.020 — — 45.0 1.770 1.070 1.140 1.070 7055 PLB 1.140 -0.030 4.7 1.096 — — 128.1 1.595 1.334 1.450 1.450 5075 PLENITU 1.450 -0.040 1.6 1.450 11.51 3.10 553.2 6.150 5.210 5.670 5.500 7765 RAPID 5.580 -0.110 1932.4 5.627 1073.0 — 596.5 1.120 0.600 — — 4596 SAPRES 0.620 — — — 8.16 — 86.6 0.630 0.400 0.500 0.480 5207 SBCCORP 0.500 0.020 36.6 0.485 12.32 — 129.1 0.930 0.600 0.685 0.665 2224 SDRED 0.665 -0.020 108.7 0.675 26.39 3.76 283.4 0.430 0.285 0.370 0.345 4286 SEAL 0.345 -0.015 44 0.349 3.39 — 83.8 2.531 2.108 2.310 2.300 6017 SHL 2.310 -0.090 17 2.306 8.36 10.39 559.3 1.473 0.905 1.110 1.070 5288 SIMEPROP 1.100 UNCH 1421.5 1.093 — 1.82 7,480.9 0.240 0.135 0.180 0.170 4375 SMI 0.170 -0.010 869.7 0.173 8.33 — 35.7 0.655 0.345 — — 5213 SNTORIA 0.395 — — — 10.53 — 224.1 6.240 3.950 6.240 6.230 1783 SPB 6.230 UNCH 184.1 6.232 34.61 1.93 2,140.7 3.247 1.930 2.270 2.180 8664 SPSETIA 2.270 0.050 1130.3 2.230 15.32 3.77 8,985.9 1.260 0.580 0.650 0.620 3743 SUNSURIA 0.620 -0.030 21.5 0.633 5.42 — 495.3 0.746 0.320 0.415 0.400 1538 SYMLIFE 0.405 -0.015 391.4 0.405 2.40 — 239.1 0.295 0.165 0.210 0.205 4022 TADMAX 0.205 -0.005 704.3 0.207 36.61 — 160.7 0.330 0.240 0.250 0.245 5158 TAGB 0.245 -0.005 263.6 0.245 8.42 2.45 1,303.8 0.045 0.025 0.045 0.035 2259 TALAMT 0.040 UNCH 20229.1 0.041 — — 168.8 1.023 0.673 0.805 0.785 5191 TAMBUN 0.785 -0.015 324 0.796 6.14 8.54 340.2 0.112 0.045 0.050 0.050 2429 TANCO 0.050 UNCH 286.3 0.050 — — 36.1 0.485 0.131 0.230 0.225 7889 THRIVEN 0.225 -0.010 2521.2 0.229 5.43 — 123.1 0.120 0.045 0.075 0.070 7079 TIGER 0.075 UNCH 497 0.071 — — 87.4 0.565 0.285 0.315 0.310 5239 TITIJYA 0.310 -0.005 517.5 0.310 7.23 0.81 416.8 0.898 0.778 0.885 0.865 5401 TROP 0.870 -0.010 176.5 0.873 7.46 3.20 1,279.3 1.006 0.620 0.850 0.830 5148 UEMS 0.840 -0.025 1228.6 0.838 13.98 1.19 3,811.4 2.549 1.840 2.190 2.180 5200 UOADEV 2.190 UNCH 550.5 2.190 10.36 6.85 4,040.3 0.245 0.105 0.125 0.125 6378 WMG 0.125 -0.005 14.6 0.125 — — 53.3 0.980 0.910 — — 7003 Y&G 0.910 — — — 16.40 — 181.4 1.660 1.040 1.200 1.170 3158 YNHPROP 1.190 -0.030 2734.4 1.183 40.61 0.59 629.5 1.550 0.300 0.355 0.345 7066 YONGTAI 0.350 -0.005 1322.2 0.351 — — 170.0 0.500 0.370 — — 2577 YTLLAND 0.390 — — — — — 329.3TRANSPORTATION & LOGISTICS 9.926 6.900 7.600 6.900 5014 AIRPORT 7.330 -0.360 7745.2 7.264 18.56 1.77 12,161.9 1.930 1.180 1.290 1.230 8133 BHIC 1.230 0.050 105.9 1.258 — 2.85 305.6 5.909 4.400 4.840 4.800 5032 BIPORT 4.800 -0.010 9 4.826 15.55 2.92 2,208.0 0.475 0.330 — — 7187 CHGP 0.365 — — — 18.16 — 108.4 0.784 0.385 0.440 0.430 7117 CJCEN 0.430 -0.020 247.5 0.436 17.27 1.74 169.5 0.930 0.535 0.880 0.870 5136 COMPLET 0.870 -0.015 86 0.876 9.43 — 109.1 0.605 0.280 0.450 0.445 5259 EATECH 0.445 -0.015 943 0.448 3.02 — 224.3 0.767 0.505 0.620 0.595 7210 FREIGHT 0.600 0.005 480.6 0.605 9.52 5.55 167.5 0.600 0.255 0.355 0.345 0078 GDEX 0.345 -0.015 3948.9 0.347 71.88 0.58 1,946.3 0.450 0.280 0.305 0.285 7676 GUNUNG 0.290 UNCH 62.3 0.291 — — 68.5 0.760 0.611 0.700 0.685 2062 HARBOUR 0.695 -0.005 16.3 0.688 7.56 1.44 278.3 0.130 0.030 0.060 0.055 7013 HUBLINE 0.055 -0.005 10347.8 0.055 42.31 — 210.0 0.790 0.390 0.395 0.390 5614 ILB 0.395 UNCH 12.2 0.394 — — 77.0 5.586 3.437 4.370 4.310 6645 LITRAK 4.350 0.020 459.9 4.353 9.99 5.75 2,296.7 0.165 0.055 0.090 0.090 5078 M&G 0.090 UNCH 508.8 0.090 — 55.56 65.1 0.715 0.410 0.555 0.540 5077 MAYBULK 0.545 -0.010 218.9 0.546 2.07 — 545.0 7.220 4.852 6.840 6.660 3816 MISC 6.720 -0.020 1213 6.719 22.86 4.46 29,996.7 1.769 0.810 1.030 1.000 2194 MMCCORP 1.010 -0.020 1332.5 1.011 13.84 3.96 3,075.5 0.460 0.200 0.300 0.300 9806 NATWIDE 0.300 -0.010 100 0.300 — — 37.0 0.070 0.025 0.040 0.030 6254 PDZ 0.040 0.005 2843.5 0.039 — — 27.3 4.371 1.550 1.870 1.810 4634 POS 1.840 -0.040 1164.4 1.837 322.81 4.35 1,440.3 0.970 0.295 0.445 0.380 8346 PRKCORP 0.435 0.035 18.4 0.414 — — 43.5 0.260 0.090 0.205 0.195 5145 SEALINK 0.200 -0.005 693.1 0.197 — — 100.0 1.273 0.910 — — 7053 SEEHUP 0.910 — — — — 3.46 73.2 1.535 1.203 1.390 1.370 6521 SURIA 1.390 -0.010 7.9 1.379 9.07 2.10 480.7 0.405 0.210 0.315 0.305 5173 SYSCORP 0.305 -0.015 51.5 0.311 64.89 — 366.0 0.395 0.180 0.290 0.285 5149 TAS 0.290 -0.005 432.3 0.286 21.64 — 52.2

MarketsB U R S A M A L A Y S I A M A I N M A R K E T


2 7




1.967 0.990 1.550 1.500 5140 TASCO 1.550 0.050 127.9 1.523 19.40 2.90 310.0 1.160 0.580 0.600 0.580 8397 TNLOGIS 0.600 0.005 406.7 0.593 15.79 — 276.5 1.150 0.350 0.635 0.625 7218 TOCEAN 0.635 -0.065 53.7 0.633 181.43 — 26.0 4.000 2.995 3.790 3.700 5246 WPRTS 3.780 -0.020 929.2 3.748 24.17 3.10 12,889.8 1.150 0.620 0.825 0.790 5267 XINHWA 0.795 UNCH 461.2 0.802 32.72 1.26 171.7PLANTATION 0.210 0.140 — — 7054 AASIA 0.160 — — — — — 105.6 18.009 15.827 17.040 16.800 1899 BKAWAN 16.980 -0.060 17.5 17.00 16.03 3.24 7,402.4 8.090 6.700 6.740 6.740 5069 BLDPLNT 6.740 0.020 5 6.740 — 0.45 630.2 1.295 0.655 0.800 0.790 5254 BPLANT 0.790 -0.015 343.3 0.795 — 12.48 1,769.6 0.790 0.530 0.585 0.585 8982 CEPAT 0.585 -0.005 0.2 0.585 34.62 2.56 186.3 7.833 6.343 6.600 6.580 1929 CHINTEK 6.580 -0.020 9 6.596 8.82 2.74 601.2 0.595 0.435 0.495 0.485 3948 DUTALND 0.495 UNCH 296.6 0.490 61.88 — 418.8 3.459 1.973 — — 5029 FAREAST 2.760 — — — 59.74 1.66 1,639.0 2.000 0.630 1.190 1.150 5222 FGV 1.160 -0.030 7818.2 1.171 — 4.53 4,231.9 10.780 9.002 10.600 10.180 2291 GENP 10.600 0.200 94.2 10.44 51.66 1.34 8,567.8 0.550 0.335 0.370 0.370 7382 GLBHD 0.370 UNCH 0.7 0.370 — 2.70 82.5 1.100 0.550 — — 2135 GOPENG 0.690 — — — 345.00 3.87 185.6 0.700 0.340 0.700 0.680 7501 HARNLEN 0.700 UNCH 195 0.698 — — 129.8 2.464 1.601 1.700 1.700 5138 HSPLANT 1.700 UNCH 10 1.700 46.70 1.47 1,360.0 2.610 1.300 1.610 1.590 2216 IJMPLNT 1.590 -0.040 43.2 1.598 — 3.14 1,400.1 0.710 0.610 0.630 0.620 2607 INCKEN 0.620 -0.015 114.6 0.624 — 1.76 260.9 0.864 0.605 — — 6262 INNO 0.795 — — — 37.50 6.29 380.7 4.715 4.064 4.500 4.450 1961 IOICORP 4.490 UNCH 2258.8 4.478 39.80 1.78 28,217.8 0.901 0.430 0.540 0.525 4383 JTIASA 0.525 -0.025 739.2 0.531 — 0.95 511.2 25.502 22.832 24.580 24.240 2445 KLK 24.360 0.020 237 24.36 37.93 1.85 26,004.4 4.239 3.280 3.320 3.280 2453 KLUANG 3.300 -0.040 24.8 3.298 — 0.29 208.5 1.453 1.130 1.260 1.250 5027 KMLOONG 1.250 -0.030 38 1.254 17.17 4.80 1,169.3 0.855 0.365 0.405 0.395 1996 KRETAM 0.405 0.005 21.6 0.399 — 2.47 942.7 1.500 0.800 — — 6572 KWANTAS 0.800 — — — — — 249.3 0.995 0.760 — — 4936 MALPAC 0.850 — — — — 11.76 63.8 0.795 0.560 0.605 0.595 5026 MHC 0.605 0.015 7 0.598 27.01 3.31 118.9 2.000 1.780 — — 5047 NPC 1.800 — — — — 0.56 216.0 3.712 3.110 — — 2038 NSOP 3.270 — — — 13.62 1.83 229.6 0.690 0.140 0.335 0.320 1902 PINEPAC 0.335 UNCH 20.5 0.323 — — 50.2 1.120 0.650 0.980 0.945 9695 PLS 0.980 0.030 1513.4 0.957 — — 343.7 0.330 0.140 0.195 0.190 5113 RSAWIT 0.190 -0.005 50 0.190 — — 269.5 3.954 2.860 — — 2542 RVIEW 3.000 — — — 39.27 2.00 194.6 3.196 2.740 — — 2569 SBAGAN 2.920 — — — — 0.68 193.7 0.610 0.320 0.370 0.370 4316 SHCHAN 0.370 UNCH 140 0.370 — — 48.8 5.596 3.950 5.070 4.990 5285 SIMEPLT 5.060 -0.010 2411 5.058 65.71 2.03 34,836.0 3.680 1.960 2.500 2.460 5126 SOP 2.470 -0.110 13.6 2.498 22.98 2.43 1,410.1 1.800 1.455 — — 5135 SWKPLNT 1.550 — — — 38.75 3.23 434.0 3.163 1.882 2.240 2.180 5012 TAANN 2.200 -0.050 158.2 2.207 12.08 4.55 978.7 0.372 0.145 0.170 0.165 2054 TDM 0.170 UNCH 419.3 0.168 — 2.94 286.0 0.923 0.455 0.510 0.505 5112 THPLANT 0.505 UNCH 53.7 0.505 — 7.13 446.3 1.496 0.960 1.080 1.020 9059 TSH 1.080 0.030 9.7 1.038 37.11 1.85 1,492.3 6.505 5.101 5.400 5.300 2593 UMCCA 5.400 0.070 84 5.392 50.14 1.48 1,132.3 28.062 25.000 27.400 27.360 2089 UTDPLT 27.360 0.200 0.2 27.38 15.26 1.46 5,694.6TELECOMMUNICATIONS & MEDIA 0.180 0.075 0.170 0.150 0159 AMEDIA 0.155 UNCH 635 0.160 — — 37.1 0.700 0.610 — — 7031 AMTEL 0.665 — — — 332.50 — 36.0 2.082 1.026 1.550 1.490 6399 ASTRO 1.490 -0.060 3390.3 1.512 14.77 7.72 7,769.3 5.389 3.200 4.180 4.120 6888 AXIATA 4.180 -0.090 3692.4 4.161 — 2.03 37,923.4 0.375 0.120 0.150 0.150 6025 BJMEDIA 0.150 UNCH 7.3 0.150 — — 35.3 4.733 3.803 4.620 4.560 6947 DIGI 4.580 -0.070 1141.8 4.583 23.11 4.28 35,609.5 0.405 0.180 0.280 0.280 0059 ECOHLDS 0.280 -0.020 28 0.280 — — 45.6 0.450 0.280 0.315 0.310 0082 GPACKET 0.310 -0.005 234.6 0.311 — — 281.8 5.782 5.055 5.460 5.310 6012 MAXIS 5.380 -0.180 1178 5.363 23.60 3.72 42,053.6 0.600 0.250 0.525 0.510 4502 MEDIA 0.515 -0.010 1095.4 0.516 9.75 — 571.2 0.428 0.181 0.230 0.220 5090 MEDIAC 0.225 -0.005 167.4 0.225 0.99 6.71 379.6 0.810 0.400 0.595 0.565 0172 OCK 0.580 UNCH 8476.8 0.584 21.09 1.72 505.5 0.504 0.330 — — 7190 PPG 0.395 — — — 44.38 1.27 39.5 0.475 0.200 0.240 0.235 5252 SASBADI 0.235 -0.010 2912.1 0.235 48.96 2.85 98.5 0.860 0.530 — — 9431 SJC 0.540 — — — — — 21.9 1.280 0.620 0.805 0.790 6084 STAR 0.790 -0.010 275.6 0.794 112.86 3.80 583.5 8.850 6.890 8.780 8.670 5031 TIMECOM 8.680 -0.020 551.4 8.691 17.52 1.07 5,066.5 5.635 2.097 3.150 3.080 4863 TM 3.120 -0.050 2266.3 3.118 76.10 0.64 11,724.8 0.460 0.085 0.180 0.160 5754 UTUSAN 0.180 0.025 23.5 0.179 — — 19.9TECHNOLOGY 0.700 0.610 — — 7031 AMTEL 0.665 — — — 332.50 — 36.0 0.235 0.120 0.145 0.140 5195 CENSOF 0.145 UNCH 288.9 0.142 — — 72.8 0.470 0.130 0.220 0.205 0051 CUSCAPI 0.205 -0.005 5555.2 0.211 — — 176.2 0.993 0.542 0.690 0.675 7204 D&O 0.685 -0.005 2669.7 0.683 20.09 1.21 758.1 0.295 0.175 0.220 0.210 8338 DATAPRP 0.220 UNCH 1206.8 0.214 — — 92.7 0.115 0.040 0.045 0.045 0029 DIGISTA 0.045 -0.005 150 0.045 — — 29.6 0.465 0.195 0.290 0.285 4456 DNEX 0.285 -0.010 6784.3 0.287 14.11 1.75 501.0 0.994 0.285 0.520 0.505 5216 DSONIC 0.510 -0.005 4238 0.514 16.24 6.86 688.5 0.840 0.335 0.530 0.525 5036 EDARAN 0.530 -0.015 234.7 0.530 4.39 — 31.8 1.170 0.324 0.475 0.465 0065 EFORCE 0.465 -0.015 3524.4 0.470 29.06 3.23 192.9 1.447 0.878 1.000 0.985 0090 ELSOFT 0.995 -0.005 716.8 0.993 16.50 4.60 662.6 1.030 0.338 0.955 0.940 0128 FRONTKN 0.945 -0.020 6077.8 0.946 18.98 1.59 995.5 0.240 0.080 — — 9377 FSBM 0.095 — — — — — 13.4 1.860 1.030 1.650 1.630 0021 GHLSYS 1.640 UNCH 185.3 1.643 47.81 — 1,210.3 0.450 0.280 0.315 0.310 0082 GPACKET 0.310 -0.005 234.6 0.311 — — 281.8 0.235 0.180 0.200 0.200 0056 GRANFLO 0.200 -0.005 269.1 0.200 17.39 3.00 96.6 2.813 1.368 1.690 1.660 7022 GTRONIC 1.670 -0.020 659.3 1.673 15.89 1.54 1,117.4 1.160 0.340 0.735 0.700 5028 HTPADU 0.730 0.025 475.1 0.718 — — 73.9 2.474 1.205 1.590 1.560 0166 INARI 1.560 -0.050 3195.4 1.578 19.33 4.04 4,947.0 0.370 0.250 0.280 0.280 0192 INTA 0.280 -0.005 170 0.280 7.07 — 149.9 0.185 0.070 0.100 0.095 9393 ITRONIC 0.100 UNCH 203 0.098 — — 10.3 0.385 0.155 0.205 0.195 5161 JCY 0.195 -0.010 3467.2 0.199 — 2.56 405.0 19.706 7.360 8.630 8.590 9334 KESM 8.590 -0.040 9 8.597 18.59 2.15 369.5 0.245 0.095 0.110 0.105 0143 KEYASIC 0.105 UNCH 2703 0.106 21.00 — 99.8 3.341 1.358 2.100 2.050 5286 MI 2.080 -0.010 203.7 2.077 19.85 — 1,040.0 1.347 0.653 0.915 0.910 0113 MMSV 0.910 -0.030 26.2 0.914 20.36 1.98 185.4 13.087 7.363 9.810 9.780 3867 MPI 9.810 -0.090 3.2 9.805 12.72 2.96 2,059.0 1.930 0.950 1.560 1.550 5011 MSNIAGA 1.560 0.030 28.1 1.555 — — 94.2 3.030 0.655 1.400 1.320 0138 MYEG 1.330 -0.060 80289.9 1.364 60.45 1.28 4,796.4 0.295 0.190 0.250 0.240 0041 MYSCM 0.240 -0.015 484 0.241 — — 63.7 0.778 0.507 0.575 0.565 0083 NOTION 0.570 -0.010 696.1 0.568 2.54 1.75 189.9 0.520 0.335 0.390 0.375 9008 OMESTI 0.385 0.010 182 0.383 — — 183.9 3.870 1.700 3.500 3.430 7160 PENTA 3.490 -0.030 223.7 3.473 19.35 — 1,104.9 1.710 0.255 0.530 0.510 5204 PRESBHD 0.510 -0.020 10909 0.519 340.0 3.33 246.8 0.450 0.240 0.410 0.400 9075 THETA 0.400 -0.010 29 0.406 — — 42.9 0.040 0.010 0.020 0.015 0118 TRIVE 0.020 0.005 1881.8 0.019 — — 46.9 0.200 0.105 — — 4359 TURIYA 0.180 — — — — — 41.2 3.300 1.574 2.700 2.600 5005 UNISEM 2.650 UNCH 7 2.656 20.17 3.21 1,944.7 8.492 5.046 7.160 7.090 0097 VITROX 7.150 -0.070 50.7 7.127 31.88 0.66 3,364.7 1.158 0.907 1.010 1.000 5162 VSTECS 1.000 -0.020 19.1 1.005 7.30 5.00 180.0 0.615 0.415 0.450 0.440 0008 WILLOW 0.440 -0.005 71 0.443 19.30 2.27 218.2UTILITIES 0.444 0.090 0.125 0.120 7471 EDEN 0.125 -0.005 7513.3 0.122 — — 48.9 2.908 2.588 2.880 2.840 5209 GASMSIA 2.880 UNCH 38.2 2.870 20.50 4.69 3,697.9 2.060 1.051 1.390 1.360 5843 KPS 1.390 0.010 245.7 1.370 — 3.06 747.0 1.012 0.745 0.910 0.905 5264 MALAKOF 0.910 -0.010 1101.4 0.910 1.86 6.37 4,550.0 3.990 2.990 3.790 3.780 3069 MFCB 3.780 -0.010 5.9 3.783 10.41 1.06 1,578.5 1.275 1.020 1.180 1.170 5041 PBA 1.180 UNCH 16 1.171 — 3.39 390.9 19.757 16.378 17.840 17.600 6033 PETGAS 17.700 -0.160 330.6 17.68 19.35 4.07 35,023.6 1.509 0.603 1.380 1.300 5272 RANHILL 1.340 UNCH 559 1.344 28.09 4.48 1,190.3 0.356 0.220 0.285 0.270 8567 SALCON 0.275 -0.005 1301.9 0.274 78.57 2.91 233.0 0.945 0.417 0.915 0.900 8524 TALIWRK 0.900 -0.015 329.3 0.904 19.87 5.33 1,814.2 15.787 12.520 12.840 12.700 5347 TENAGA 12.760 -0.120 2113.8 12.77 19.42 4.17 72,564.7 1.427 0.882 1.090 1.070 4677 YTL 1.080 -0.020 1468.6 1.080 43.37 3.70 11,783.4 1.208 0.694 0.850 0.830 6742 YTLPOWR 0.835 -0.010 2356.5 0.835 12.05 5.99 6,812.1CLOSED-END FUNDS 2.850 2.340 2.410 2.400 5108 ICAP 2.400 UNCH 58.4 2.400 33.71 — 336.0EXCHANGE TRADED FUNDS 1.190 1.100 — — 0800EA ABFMY1 1.173 — — — — 3.96 1,484.3 5.850 5.260 5.750 5.590 0829EA CHINAETF-MYR 5.600 -0.190 4.2 5.661 — — 8.3 2.100 1.735 — — 0822EA CIMBA40 1.830 — — — — 3.72 4.9 1.700 1.450 1.590 1.580 0823EA CIMBC50 1.580 -0.015 100 1.583 — — 11.3 1.960 1.750 — — 0820EA FBMKLCI-EA 1.770 — — — — 1.86 3.0 1.795 1.600 1.765 1.765 0828EA GOLDETF 1.765 0.015 102 1.765 — — 43.4 1.075 0.985 — — 0826EA METFAPA 1.040 — — — — — 18.7 0.845 0.795 — — 0825EA METFSID 0.807 — — — — 2.47 71.0 1.100 0.900 — — 0827EA METFUS50 1.075 — — — — — 14.0 1.250 1.055 — — 0821EA MYETFDJ 1.090 — — — — 2.24 300.7 1.210 1.085 — — 0824EA MYETFID 1.095 — — — — 2.52 46.9REAL ESTATE INVESTMENT TRUSTS 0.799 0.649 0.765 0.760 4952 AHP 0.760 -0.005 27 0.764 13.55 7.41 167.2 1.400 1.008 1.340 1.340 5116 ALAQAR 1.340 UNCH 10 1.340 10.69 5.38 986.2 0.870 0.743 0.850 0.840 5269 ALSREIT 0.840 -0.010 7.5 0.844 12.10 6.37 487.2 0.594 0.510 0.535 0.525 5120 AMFIRST 0.530 -0.005 160.7 0.529 40.46 7.45 363.8 0.848 0.764 0.840 0.830 5127 ARREIT 0.830 -0.005 52.2 0.836 5.86 7.35 475.8 1.129 0.961 1.120 1.120 5130 ATRIUM 1.120 0.010 24 1.120 11.76 6.70 136.4 1.800 1.153 1.800 1.780 5106 AXREIT 1.790 -0.010 1128.4 1.783 14.24 4.88 2,214.7 1.193 0.925 1.120 1.110 5180 CMMT 1.120 UNCH 26 1.120 16.82 7.05 2,289.5 1.186 1.062 1.130 1.120 5121 HEKTAR 1.130 UNCH 201 1.130 15.89 7.97 522.0 1.840 1.367 1.820 1.810 5227 IGBREIT 1.820 UNCH 1147.1 1.813 19.26 5.04 6,442.5 0.875 0.624 0.875 0.865 5280 KIPREIT 0.870 UNCH 206.9 0.871 12.08 7.53 439.6 7.960 6.447 7.810 7.690 5235SS KLCC 7.750 -0.030 53.9 7.712 19.30 4.39 13,991.3 1.119 0.919 1.110 1.090 5123 MQREIT 1.100 UNCH 40.4 1.093 16.11 7.19 1,179.0 1.810 1.271 1.810 1.790 5212 PAVREIT 1.800 -0.010 1982 1.800 18.93 4.88 5,470.2 1.820 1.379 1.810 1.790 5176 SUNREIT 1.800 -0.010 1317.8 1.799 12.73 5.14 5,301.1 1.049 0.876 — — 5111 TWRREIT 0.900 — — — 48.13 4.56 252.5 1.405 1.228 1.380 1.380 5110 UOAREIT 1.380 UNCH 2.3 1.380 10.14 6.62 583.6 1.299 1.001 1.290 1.270 5109 YTLREIT 1.290 0.010 240 1.280 10.99 5.71 2,198.7SPAC 0.51 0.460 — — 5270 RSENA 0.505 — — — — — 505.0ENERGY 0.149 0.056 0.110 0.105 5115 ALAM 0.110 UNCH 2577.2 0.110 — — 101.7 0.950 0.145 0.195 0.180 5210 ARMADA 0.195 0.010 72090.1 0.190 — — 1,144.8 0.290 0.040 0.105 0.100 7251 BARAKAH 0.105 UNCH 17106 0.101 — — 87.8 1.010 0.205 0.850 0.815 5257 CARIMIN 0.825 -0.035 6210.5 0.834 — — 192.9 1.370 0.735 1.110 1.060 5071 COASTAL 1.070 -0.030 38.1 1.086 — 1.87 569.0 0.040 0.005 0.010 0.005 0091 DAYA 0.010 0.005 375.3 0.007 — — 20.4 1.750 0.500 1.390 1.260 5141 DAYANG 1.350 0.020 55855.6 1.330 7.93 — 1,302.5 1.304 0.863 1.110 1.070 5132 DELEUM 1.110 0.030 114.4 1.084 16.35 3.15 445.2 3.637 2.720 3.190 3.140 7277 DIALOG 3.170 -0.030 4941.8 3.162 36.82 1.01 17,884.0 0.535 0.240 0.370 0.360 7253 HANDAL 0.360 -0.015 163.7 0.364 — — 57.6 9.600 4.510 5.990 5.780 4324 HENGYUAN 5.790 -0.200 469.2 5.845 56.16 0.35 1,737.0 1.360 0.705 1.090 1.050 5199 HIBISCS 1.050 -0.050 43867.8 1.069 5.02 — 1,667.6 0.480 0.130 0.260 0.245 2739 HUAAN 0.255 UNCH 24355 0.251 9.66 — 286.2

Ace Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

0.240 0.060 0.095 0.085 5255 ICON 0.090 -0.005 6046.9 0.089 — — 105.9 0.225 0.070 0.125 0.115 7164 KNM 0.120 0.005 13832.9 0.120 — — 284.3 0.865 0.495 0.800 0.785 5186 MHB 0.800 UNCH 641.1 0.796 — 3.75 1,280.0 1.260 0.315 0.975 0.920 5133 PENERGY 0.920 -0.040 1625.7 0.955 — 2.17 296.0 0.540 0.175 0.420 0.390 7108 PERDANA 0.410 -0.005 21751.8 0.408 — — 319.2 0.065 0.005 — — 0047 PERISAI 0.005 — — — — — 6.3 9.659 6.010 6.600 6.550 3042 PETRONM 6.560 -0.090 52 6.572 7.89 3.81 1,771.2 0.520 0.210 0.315 0.300 5256 REACH 0.305 -0.010 5309.8 0.308 — — 334.4 0.910 0.255 0.360 0.335 5218 SAPNRG 0.345 UNCH 357874 0.349 — — 5,512.8 0.145 0.040 0.045 0.045 7158 SCOMI 0.045 UNCH 1460 0.045 — — 49.2 0.115 0.030 0.075 0.070 7045 SCOMIES 0.075 -0.005 1942 0.072 — — 175.6 4.223 2.792 3.850 3.810 5279 SERBADK 3.820 -0.050 2770.5 3.823 14.35 2.09 5,609.7 0.075 0.005 0.010 0.005 1201 SUMATEC 0.010 UNCH 520 0.009 — — 42.5 0.590 0.300 0.510 0.495 7228 T7GLOBAL 0.505 UNCH 2901.7 0.503 27.30 — 211.8 0.090 0.025 0.060 0.060 7206 THHEAVY 0.060 UNCH 1000.1 0.060 — — 67.3 1.550 0.550 0.980 0.960 7250 UZMA 0.960 -0.025 1045.3 0.966 17.52 — 307.2 0.325 0.165 0.295 0.285 5243 VELESTO 0.295 -0.005 16449.8 0.290 — — 2,423.6 1.630 0.595 0.770 0.760 5142 WASEONG 0.765 -0.005 288.1 0.763 9.13 — 592.8 4.905 3.597 4.650 4.550 7293 YINSON 4.620 -0.030 516.8 4.625 21.47 1.30 5,051.6

MarketsB U R S A M A L A Y S I A M A I N M A R K E T . A C E M A R K E T


CONSUMER PRODUCTS & SERVICES 0.740 0.325 0.675 0.650 0098 BAHVEST 0.660 -0.015 5812.5 0.662 33.85 — 807.3 0.275 0.190 0.210 0.200 0179 BIOHLDG 0.205 -0.005 1230.9 0.205 13.95 0.54 176.3 0.350 0.190 0.200 0.190 0205 DPIH 0.195 -0.005 338.6 0.196 6.25 — 94.9 0.200 0.120 0.140 0.135 0116 FOCUS 0.135 -0.005 4590.1 0.140 — — 275.7 0.445 0.160 0.345 0.260 0157 FOCUSP 0.345 -0.010 267.3 0.335 8.02 2.90 56.9 0.150 0.085 0.120 0.115 0074 GOCEAN 0.120 Unch 637 0.116 — — 34.8 0.140 0.035 0.045 0.040 0170 KANGER 0.045 0.005 303 0.040 — — 40.2 0.205 0.125 0.185 0.175 0180 KTC 0.180 Unch 980.8 0.180 — — 91.8 0.190 0.105 0.115 0.110 0182 LKL 0.110 -0.005 64.4 0.112 — 3.18 47.2 0.773 0.277 — — 0201 NOVA 0.470 — — — 18.29 1.06 149.3 0.200 0.110 — — 0153 OVERSEA 0.115 — — — — — 28.3 0.165 0.070 0.075 0.075 0022 PARLO 0.075 Unch 110 0.075 — — 27.3 0.345 0.235 0.310 0.295 0171 PLABS 0.310 0.005 174 0.300 17.13 1.94 66.6 0.560 0.433 — — 0158 SCC 0.510 — — — 10.24 6.67 72.0 0.300 0.135 0.180 0.160 0140 STERPRO 0.180 0.015 73 0.162 — — 57.8 0.280 0.130 — — 0148 SUNZEN 0.160 — — — — 1.88 84.3 0.393 0.190 0.320 0.315 0197 WEGMANS 0.320 -0.005 341.1 0.318 13.11 1.56 160.0 0.060 0.025 0.035 0.030 0095 XINGHE 0.035 Unch 8920.5 0.030 — — 90.1INDUSTRIAL PRODUCTS & SERVICES 0.300 0.210 — — 0122 AIM 0.250 — — — — — 66.5 0.109 0.060 — — 0105 ASIAPLY 0.080 — — — — 6.25 35.9 0.090 0.045 0.050 0.045 0072 AT 0.045 -0.005 1.4 0.047 — — 20.9 0.250 0.140 0.200 0.195 0187 BCMALL 0.200 Unch 428.3 0.196 10.10 — 84.3 0.270 0.155 0.160 0.155 0163 CAREPLS 0.160 Unch 497.1 0.160 — — 85.0 0.190 0.100 0.110 0.105 0102 CONNECT 0.110 0.005 194.2 0.108 — — 36.2 0.346 0.170 — — 0190 ESAFE 0.205 — — — 56.94 8.78 49.3 0.237 0.105 0.160 0.160 0100 ESCERAM 0.160 Unch 20 0.160 — 3.75 32.9 0.550 0.336 0.490 0.480 0039 GFM 0.485 -0.010 1055.6 0.487 27.56 1.90 228.4 0.235 0.115 0.125 0.115 0175 HHGROUP 0.125 0.005 202.5 0.119 — — 42.4 0.125 0.080 0.090 0.090 0160 HHHCORP 0.090 -0.005 118 0.090 15.00 — 30.0 0.280 0.125 — — 0188 HLT 0.130 — — — — — 66.6 0.085 0.035 0.055 0.045 0024 JAG 0.050 Unch 29477.2 0.050 38.46 3.80 75.8 0.297 0.181 0.210 0.205 0193 KAB 0.205 -0.005 785.9 0.205 7.62 4.88 65.6 0.170 0.085 0.090 0.085 0167 MCLEAN 0.085 -0.005 157.3 0.090 — — 15.2 0.260 0.120 0.120 0.120 0081 MEGASUN 0.120 -0.010 0.2 0.120 24.00 — 26.8 0.140 0.045 0.055 0.055 0177 PASUKGB 0.055 0.005 3 0.055 — — 44.6 0.265 0.120 0.160 0.145 0038 PTB 0.150 0.005 228.3 0.147 — — 28.0 0.380 0.165 0.255 0.245 0196 QES 0.245 -0.010 4426.9 0.249 13.03 — 185.8 0.180 0.050 0.055 0.055 0133 SANICHI 0.055 Unch 733 0.055 — — 61.0 0.205 0.090 — — 0161 SCH 0.130 — — — — — 72.2 0.920 0.280 0.760 0.745 0001 SCOMNET 0.750 -0.015 877.5 0.751 35.05 — 482.3 0.245 0.115 0.220 0.205 0028 SCOPE 0.215 -0.010 1481 0.213 — 2.33 132.6 0.170 0.080 — — 0055 SERSOL 0.100 — — — — — 21.5 0.559 0.254 0.325 0.320 0084 TECFAST 0.325 Unch 379.3 0.322 18.57 3.08 74.1 0.739 0.510 0.535 0.535 0089 TEXCYCL 0.535 -0.020 4.2 0.535 17.43 1.87 137.1 0.405 0.220 0.310 0.290 0162 WIDAD 0.310 0.005 4646.6 0.298 — — 760.9 0.180 0.125 — — 0025 YBS 0.140 — — — 11.20 — 33.9TECHNOLOGY 0.455 0.190 0.250 0.245 0181 AEMULUS 0.250 -0.005 749.7 0.246 26.04 0.80 137.2 0.310 0.080 0.090 0.090 0119 APPASIA 0.090 Unch 59 0.090 69.23 — 31.1 0.535 0.155 0.280 0.265 0068 ASDION 0.270 -0.005 5331.5 0.274 — — 31.4 0.519 0.351 0.400 0.385 0195 BINACOM 0.390 Unch 87.8 0.389 10.57 2.56 101.4 0.456 0.200 0.300 0.270 0191 CABNET 0.295 0.010 50.5 0.281 9.61 3.22 52.7 0.185 0.098 — — 0152 DGB 0.120 — — — — — 90.7 0.190 0.075 0.080 0.075 0131 DGSB 0.080 Unch 640 0.078 — — 59.7 0.040 0.010 0.020 0.015 0154 EAH 0.020 Unch 1269.1 0.015 — — 101.4 0.180 0.015 0.025 0.025 0107 EDUSPEC 0.025 -0.005 260 0.025 — — 27.5 2.015 1.111 1.690 1.660 0104 GENETEC 1.660 -0.040 7.1 1.685 6.61 3.01 69.9 0.100 0.045 0.050 0.050 0045 GNB 0.050 Unch 200 0.050 — — 14.4 0.120 0.020 0.025 0.025 0174 IDMENSN 0.025 Unch 40 0.025 — — 6.8 0.490 0.185 0.425 0.410 0023 IFCAMSC 0.415 -0.010 7670.3 0.417 20.96 1.20 252.4 0.120 0.045 0.055 0.050 0094 INIX 0.055 0.005 419.7 0.051 — — 14.3 0.190 0.115 0.150 0.135 0010 IRIS 0.145 0.005 39696.4 0.144 — — 430.1 1.030 0.590 0.915 0.900 0146 JFTECH 0.915 0.005 108.2 0.907 198.91 1.31 192.1 1.450 0.696 1.310 1.250 0127 JHM 1.260 -0.050 2698 1.278 16.91 1.59 702.6 0.292 0.108 0.235 0.225 0111 K1 0.230 Unch 2269.2 0.228 25.27 — 167.7 0.095 0.040 0.040 0.040 0036 KGROUP 0.040 Unch 105 0.040 — — 20.8 0.810 0.430 0.590 0.580 0176 KRONO 0.580 -0.010 1226.8 0.583 12.45 — 231.3 0.185 0.115 0.160 0.150 0018 LAMBO 0.150 -0.005 5486.3 0.152 14.15 — 315.3 0.545 0.300 0.325 0.310 0075 LYC 0.325 0.005 184 0.315 — — 105.6 0.115 0.040 0.050 0.050 0017 M3TECH 0.050 0.005 456 0.050 — — 29.3 0.340 0.205 — — 0155 MGRC 0.270 — — — — — 27.9 0.580 0.335 — — 0126 MICROLN 0.410 — — — — — 68.6 0.368 0.190 0.260 0.245 0112 MIKROMB 0.260 0.010 135.9 0.253 29.21 3.85 112.0 0.065 0.035 0.040 0.040 0085 MLAB 0.040 -0.005 531 0.040 — — 26.8 0.310 0.160 — — 0034 MMAG 0.220 — — — — — 150.1 0.080 0.035 0.035 0.035 0103 MNC 0.035 -0.005 102 0.035 — — 16.7 0.210 0.100 0.120 0.120 0156 MPAY 0.120 Unch 794 0.120 — — 85.3 0.070 0.025 0.030 0.025 0070 MQTECH 0.030 Unch 4152.2 0.025 — — 17.9 0.140 0.055 0.060 0.060 0092 MTOUCHE 0.060 Unch 37 0.060 150.00 — 30.5 1.274 0.623 0.840 0.815 0108 N2N 0.815 -0.035 1125.1 0.827 32.21 4.91 487.3 0.040 0.010 0.015 0.015 0020 NETX 0.015 Unch 501 0.015 — — 42.0 0.070 0.010 0.020 0.015 0096 NEXGRAM 0.020 0.005 643 0.017 — — 41.4 0.205 0.080 0.120 0.115 0026 NOVAMSC 0.115 -0.005 2344.8 0.119 41.07 — 86.4 1.152 0.320 0.640 0.625 0035 OPCOM 0.625 -0.020 1116 0.631 14.71 5.20 100.8 0.375 0.256 0.340 0.335 0040 OPENSYS 0.340 Unch 549.7 0.340 9.94 3.68 101.3 0.230 0.040 0.230 0.205 0079 ORION 0.210 -0.005 60984.5 0.216 — — 125.8 0.730 0.240 — — 0006 PINEAPP 0.320 — — — 640.0 — 15.5 0.150 0.045 0.070 0.065 0123 PRIVA 0.065 -0.005 400.2 0.065 — — 36.3 1.504 0.474 1.240 1.210 0200 REVENUE 1.230 -0.010 332.5 1.224 30.75 — 274.1 0.676 0.525 0.605 0.600 0106 REXIT 0.605 0.005 162 0.601 14.27 4.96 114.5 0.650 0.230 0.235 0.230 0202 RGTECH 0.230 -0.010 102.3 0.230 32.86 — 120.8 0.285 0.090 — — 0178 SEDANIA 0.115 — — — — 8.70 26.0 0.565 0.370 0.535 0.530 0203 SMETRIC 0.530 -0.005 205.3 0.533 212.00 — 129.1 0.185 0.095 0.120 0.120 0117 SMRT 0.120 0.005 0.1 0.120 11.32 — 48.8 0.185 0.055 0.085 0.080 0169 SMTRACK 0.085 Unch 108.9 0.081 — — 12.5 0.200 0.080 — — 0093 SOLUTN 0.085 — — — — — 26.0 0.340 0.150 0.215 0.210 0129 SRIDGE 0.210 -0.010 245.4 0.213 13.55 — 29.0 0.345 0.180 0.235 0.230 0050 SYSTECH 0.230 -0.015 110.8 0.231 41.82 — 80.0 0.140 0.065 0.065 0.065 0132 TDEX 0.065 -0.005 36.9 0.065 — — 38.4 0.180 0.085 0.100 0.095 0145 TFP 0.095 -0.010 50 0.098 — — 19.8 0.430 0.200 0.260 0.255 0005 UCREST 0.255 -0.005 2950.9 0.255 5.58 — 118.3 0.170 0.125 0.170 0.155 0060 VC 0.170 0.010 1987.7 0.165 13.28 — 51.8 0.795 0.290 0.500 0.485 0120 VIS 0.490 -0.010 865 0.489 10.10 2.04 82.9 0.064 0.015 0.020 0.015 0069 VIVOCOM 0.015 -0.005 951.3 0.016 — — 85.0 0.255 0.085 0.240 0.215 0066 VSOLAR 0.220 -0.020 28264.4 0.228 — — 84.9 0.045 0.035 — — 0141 WINTONI 0.035 — — — — — 18.0 0.170 0.100 0.125 0.125 0086 YGL 0.125 Unch 50 0.125 — — 29.0TELECOMMUNICATIONS & MEDIA 0.519 0.351 0.400 0.385 0195 BINACOM 0.390 Unch 87.8 0.389 10.57 2.56 101.4 0.880 0.530 — — 0147 INNITY 0.575 — — — 35.28 — 79.8 0.115 0.040 0.050 0.050 0017 M3TECH 0.050 0.005 456 0.050 — — 29.3 0.080 0.035 0.035 0.035 0103 MNC 0.035 -0.005 102 0.035 — — 16.7 0.140 0.055 0.060 0.060 0092 MTOUCHE 0.060 Unch 37 0.060 150.00 — 30.5 0.070 0.010 0.020 0.015 0096 NEXGRAM 0.020 0.005 643 0.017 — — 41.4 1.152 0.320 0.640 0.625 0035 OPCOM 0.625 -0.020 1116 0.631 14.71 5.20 100.8 0.150 0.045 0.070 0.065 0123 PRIVA 0.065 -0.005 400.2 0.065 — — 36.3 0.280 0.090 0.100 0.090 0007 PUC 0.095 Unch 47202.5 0.095 23.17 — 205.0 0.335 0.150 0.300 0.290 0032 REDTONE 0.295 Unch 899.2 0.295 25.88 — 223.7 0.435 0.160 0.205 0.200 0173 REV 0.205 0.005 53 0.202 — — 27.6 0.285 0.090 — — 0178 SEDANIA 0.115 — — — — 8.70 26.0 0.340 0.150 0.215 0.210 0129 SRIDGE 0.210 -0.010 245.4 0.213 13.55 — 29.0 0.095 0.050 0.055 0.050 0165 XOX 0.050 Unch 423.5 0.050 — — 54.6FINANCIAL SERVICES 0.125 0.045 0.055 0.050 0150 FINTEC 0.050 Unch 2444.9 0.054 — — 30.5 0.630 0.440 0.470 0.440 0053 OSKVI 0.470 Unch 11.9 0.447 — 10.64 92.9HEALTH CARE 0.270 0.155 0.160 0.155 0163 CAREPLS 0.160 Unch 497.1 0.160 — — 85.0 0.190 0.105 0.115 0.110 0182 LKL 0.110 -0.005 64.4 0.112 — 3.18 47.2 0.340 0.205 — — 0155 MGRC 0.270 — — — — — 27.9 0.773 0.277 — — 0201 NOVA 0.470 — — — 18.29 1.06 149.3TRANSPORTATION & LOGISTICS 0.115 0.060 0.080 0.080 0048 ANCOMLB 0.080 -0.005 3 0.080 — — 37.9 0.285 0.210 0.275 0.260 0080 STRAITS 0.275 0.005 16086 0.270 30.90 — 171.8 0.559 0.295 0.435 0.415 0199 TRIMODE 0.415 -0.005 58.1 0.420 15.37 2.41 68.9CONSTRUCTION 0.422 0.212 0.275 0.275 0198 GDB 0.275 Unch 204.3 0.275 5.53 7.27 171.9 0.400 0.235 0.265 0.260 0206 NADIBHD 0.260 Unch 1973.8 0.260 4.89 — 195.8 0.035 0.010 — — 0109 SCBUILD 0.025 — — — 17.86 — 22.1PLANTATION 0.090 0.065 0.070 0.070 0189 MATANG 0.070 Unch 622 0.070 46.67 2.86 126.7UTILITIES 0.365 0.199 0.365 0.350 0011 BTECH 0.360 0.010 2534.2 0.357 21.82 4.44 90.7

MarketsB U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

TUESDAY MARCH 26, 2019 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.395 0.015 0.055 0.055 70322 A50CHIN-C22 0.055 -0.160 15.5 7.210 7.256 1.78 29/03/2019 0.330 0.085 0.215 0.190 70328 A50CHIN-C28 0.190 -0.060 335.6 7.210 7.152 7.10 25/06/2019 0.485 0.075 0.285 0.250 70330 A50CHIN-C30 0.250 -0.085 1503.9 7.210 7.515 9.43 28/06/2019 0.675 0.370 0.505 0.455 70336 A50CHIN-C36 0.455 -0.105 461.5 7.210 6.634 4.63 30/08/2019 0.290 0.175 0.205 0.175 70338 A50CHIN-C38 0.180 -0.050 12541 7.210 8.551 22.35 30/09/2019 0.300 0.005 0.005 0.005 70323 A50CHIN-H23 0.005 Unch 33 0.735 5.701 676.66 29/03/2019 0.450 0.355 0.450 0.405 70329 A50CHIN-H29 0.445 0.065 25983.2 7.210 7.256 9.89 30/09/2019 0.175 0.045 0.050 0.045 5238WA AAX-WA 0.050 Unch 315.1 0.245 0.460 108.16 08/06/2020 0.055 0.005 0.005 0.005 7146WA AEM-WA 0.005 Unch 1579.9 0.105 0.250 142.86 17/12/2019 0.175 0.030 0.035 0.030 6599CO AEON-CO 0.035 -0.005 161.9 1.510 1.650 13.91 31/07/2019 0.120 0.005 0.020 0.015 7315WB AHB-WB 0.020 0.005 688 0.155 0.200 41.94 28/08/2019 0.270 0.035 0.085 0.075 509967 AIRASIAC67 0.075 -0.015 651.8 2.710 2.605 3.35 30/04/2019 0.090 0.005 0.005 0.005 509970 AIRASIAC70 0.005 Unch 100 1.385 3.083 123.85 04/04/2019 0.220 0.030 0.075 0.070 509971 AIRASIAC71 0.070 -0.005 863.6 2.710 2.822 10.88 31/07/2019 0.300 0.085 0.175 0.175 509972 AIRASIAC72 0.175 -0.015 90 2.710 2.518 12.56 28/06/2019 0.350 0.130 0.190 0.190 509973 AIRASIAC73 0.190 -0.015 100 2.710 2.432 7.99 20/05/2019 0.160 0.065 0.075 0.065 509977 AIRASIAC77 0.065 -0.010 880 2.710 3.400 31.94 31/07/2019 0.175 0.085 0.095 0.095 509978 AIRASIAC78 0.095 -0.005 100 2.710 3.500 38.62 30/08/2019 0.100 0.045 0.045 0.045 509979 AIRASIAC79 0.045 Unch 170 2.710 3.300 26.75 29/11/2019 0.105 0.020 0.025 0.020 5014C4 AIRPORT-C4 0.025 -0.010 1260 7.330 8.350 16.98 30/09/2019 0.205 0.070 0.075 0.070 5014C6 AIRPORT-C6 0.075 -0.045 100 7.330 8.300 22.44 23/10/2019 0.165 0.040 0.070 0.040 5014C7 AIRPORT-C7 0.060 -0.015 2274.1 7.330 8.180 18.14 28/06/2019 0.235 0.050 0.150 0.145 101510 AMBANK-C10 0.150 -0.015 0.4 4.500 4.200 1.67 31/05/2019 0.185 0.110 0.125 0.125 101512 AMBANK-C12 0.125 -0.005 3.6 4.500 4.250 5.56 30/05/2019 0.115 0.085 0.085 0.085 101513 AMBANK-C13 0.085 -0.005 465.6 4.500 5.000 17.72 31/07/2019 0.185 0.030 0.040 0.035 0119WA APPASIA-WA 0.040 0.005 110 0.090 0.130 88.89 23/12/2024 0.130 0.050 0.065 0.065 639912 ASTRO-C12 0.065 -0.010 520 1.490 1.500 13.76 31/05/2019 0.285 0.140 0.280 0.265 7579WA AWC-WA 0.270 -0.010 741.8 0.775 0.880 48.39 25/12/2023 0.215 0.135 0.170 0.165 688833 AXIATA-C33 0.170 -0.010 941 4.180 3.600 6.46 28/06/2019 0.180 0.115 0.135 0.135 688835 AXIATA-C35 0.135 -0.010 50 4.180 4.200 13.40 17/06/2019 0.095 0.075 0.080 0.080 688837 AXIATA-C37 0.080 -0.005 0.4 4.180 4.450 16.03 31/12/2019 0.308 0.085 0.270 0.245 7078WA AZRB-WA 0.265 0.015 812 0.510 0.630 75.49 13/05/2024 0.540 0.170 0.430 0.410 0098WA BAHVEST-WA 0.410 -0.025 2152 0.660 0.430 27.27 20/08/2024 0.080 0.070 0.080 0.075 4162CO BAT-CO 0.075 0.005 0.4 35.280 37.500 14.80 31/12/2019 0.115 0.060 0.080 0.080 5248C1 BAUTO-C1 0.080 Unch 40 2.310 2.200 5.63 31/05/2019 0.245 0.140 0.205 0.205 5248CZ BAUTO-CZ 0.205 -0.005 120 2.310 2.000 4.33 25/06/2019 0.310 0.115 0.250 0.240 5258WA BIMB-WA 0.250 Unch 167.4 4.180 4.720 18.90 04/12/2023 0.100 0.025 0.045 0.045 6998WA BINTAI-WA 0.045 Unch 9 0.130 0.200 88.46 15/06/2020 0.145 0.075 0.080 0.080 0179WA BIOHLDG-WA 0.080 Unch 748.5 0.205 0.220 46.34 05/01/2022 0.150 0.045 0.060 0.060 3239WB BJASSET-WB 0.060 Unch 100 0.305 0.350 34.43 10/06/2023 0.100 0.035 0.045 0.040 3395WB BJCORP-WB 0.045 Unch 250.1 0.265 1.000 294.34 22/04/2022 0.140 0.060 0.070 0.070 3395WC BJCORP-WC 0.070 -0.005 610 0.265 1.000 303.77 29/05/2026 0.045 0.015 0.020 0.015 7036WD BORNOIL-WD 0.020 Unch 51.2 0.045 0.070 100.00 29/05/2027 0.100 0.010 0.010 0.010 7188WA BTM-WA 0.010 Unch 69.9 0.115 0.940 726.09 20/12/2019 0.330 0.070 0.125 0.120 7035WA CCK-WA 0.120 -0.005 719.2 0.595 0.900 71.43 18/06/2023 0.170 0.050 0.055 0.050 102345 CIMB-C45 0.050 -0.005 260 5.120 5.700 17.19 28/06/2019 0.480 0.110 0.130 0.130 8125WB DAIBOCI-WB 0.130 Unch 26 1.580 2.500 66.46 19/06/2022 0.440 0.100 0.400 0.370 5276WA DANCO-WA 0.380 -0.005 3202.5 0.635 0.300 7.09 22/05/2022 0.150 0.030 0.120 0.110 3484WA DBHD-WA 0.115 -0.005 725.6 0.510 0.580 36.27 27/11/2020 0.220 0.075 0.100 0.095 727740 DIALOG-C40 0.100 Unch 120 3.170 3.300 12.93 28/06/2019 0.130 0.070 0.090 0.090 727741 DIALOG-C41 0.090 Unch 150 3.170 3.250 12.46 25/06/2019 0.085 0.060 0.065 0.060 727744 DIALOG-C44 0.060 Unch 0.4 3.170 3.400 14.83 31/12/2019 0.150 0.025 0.035 0.030 694724 DIGI-C24 0.035 Unch 123.6 4.580 4.750 6.00 31/05/2019 0.300 0.040 0.040 0.040 694728 DIGI-C28 0.040 -0.010 5.1 4.580 5.000 13.36 28/06/2019 0.170 0.055 0.075 0.070 4456WD DNEX-WD 0.075 Unch 1714.2 0.285 0.500 101.75 30/07/2021 0.415 0.105 0.185 0.170 7114WA DNONCE-WA 0.185 0.010 305.3 0.435 0.250 0.00 25/11/2020 0.045 0.015 0.030 0.030 5265WA DOLPHIN-WA 0.030 Unch 79 0.135 0.800 514.81 29/03/2021 0.265 0.015 0.020 0.020 161960 DRBHCOMC60 0.020 Unch 544.3 1.900 1.950 5.79 30/04/2019 0.185 0.070 0.090 0.085 161968 DRBHCOMC68 0.085 Unch 2670 1.900 1.900 14.76 28/06/2019 0.185 0.095 0.155 0.140 161970 DRBHCOMC70 0.155 Unch 937.4 1.900 1.800 11.05 31/10/2019 0.135 0.110 0.120 0.120 161972 DRBHCOMC72 0.120 Unch 100 1.900 1.880 19.16 30/08/2019 0.115 0.090 0.090 0.090 161973 DRBHCOMC73 0.090 -0.005 10 1.900 2.100 24.74 03/09/2019 0.110 0.080 0.090 0.080 161974 DRBHCOMC74 0.085 Unch 3787.2 1.900 2.350 36.21 30/09/2019 0.100 0.065 0.080 0.075 161975 DRBHCOMC75 0.080 Unch 185.2 1.900 2.000 17.89 31/12/2019 0.300 0.050 0.085 0.085 5216WA DSONIC-WA 0.085 -0.005 1106.2 0.510 1.090 130.39 05/07/2023 0.090 0.030 0.040 0.040 5178WA DYNACIA-WA 0.040 Unch 200 0.090 0.120 77.78 26/12/2023 0.020 0.005 0.010 0.005 0154WD EAH-WD 0.005 Unch 1262.3 0.020 0.050 175.00 25/10/2022 0.235 0.070 0.115 0.105 5253WA ECONBHD-WA 0.115 0.005 1512.6 0.455 1.250 200.00 02/01/2023 0.150 0.150 0.150 0.150 8206CT ECOWLD-CT 0.150 Unch 100 0.920 1.300 82.07 28/06/2019 0.350 0.165 0.180 0.180 8206WA ECOWLD-WA 0.180 Unch 32.5 0.920 2.080 145.65 26/03/2022 0.150 0.030 0.045 0.040 7471WB EDEN-WB 0.040 -0.005 2123.1 0.125 0.300 172.00 13/08/2021 0.880 0.110 0.130 0.120 0065WA EFORCE-WA 0.125 -0.005 1109.3 0.465 0.340 0.00 17/07/2019 0.315 0.120 0.150 0.140 8907WC EG-WC 0.145 0.005 26 0.455 0.500 41.76 03/11/2020 0.085 0.030 0.030 0.030 8877CT EKOVEST-CT 0.030 -0.005 345 0.505 0.500 10.89 30/04/2019 0.660 0.045 0.070 0.055 8877WB EKOVEST-WB 0.065 -0.005 9040.8 0.505 0.480 7.92 25/06/2019 0.340 0.100 0.145 0.140 5283WA EWINT-WA 0.145 Unch 195 0.750 1.450 112.67 02/04/2022 0.330 0.030 0.035 0.030 7047WB FAJAR-WB 0.035 0.005 347.7 0.395 0.700 86.08 24/09/2019 0.090 0.025 0.025 0.025 06505O FBMKLCI-C5O 0.025 -0.005 249 1,649 1,700 4.14 28/06/2019 0.370 0.130 0.135 0.130 06505P FBMKLCI-C5P 0.130 -0.020 34.5 1,649 1,730 7.27 31/05/2019 0.545 0.210 0.220 0.210 06505Q FBMKLCI-C5Q 0.210 -0.025 333.5 1,649 1,650 3.88 31/05/2019 0.100 0.045 0.045 0.045 06505R FBMKLCI-C5R 0.045 Unch 87.9 1,649 1,690 4.39 31/07/2019 0.240 0.110 0.115 0.110 06505S FBMKLCI-C5S 0.115 -0.010 28.2 1,649 1,790 10.63 31/07/2019 0.365 0.190 0.190 0.190 06505T FBMKLCI-C5T 0.190 -0.010 40 1,649 1,710 7.15 31/07/2019 0.085 0.045 0.050 0.045 06505V FBMKLCI-C5V 0.050 Unch 240 1,649 1,695 4.90 30/08/2019 0.035 0.025 0.030 0.030 06505W FBMKLCI-C5W 0.030 0.005 83.3 1,649 1,730 6.18 30/09/2019 0.185 0.105 0.145 0.145 06506L FBMKLCI-H6L 0.145 0.005 298 1,649 1,788 17.22 31/05/2019 0.280 0.135 0.220 0.220 06506M FBMKLCI-H6M 0.220 0.010 200 1,649 1,800 18.49 30/04/2019 0.555 0.290 0.380 0.375 06506O FBMKLCI-H6O 0.380 0.020 2100 1,649 1,740 12.42 30/04/2019 0.190 0.040 0.070 0.060 06506P FBMKLCI-H6P 0.065 0.010 845.2 1,649 1,680 4.63 31/05/2019 0.185 0.065 0.120 0.110 06506Q FBMKLCI-H6Q 0.120 0.010 1071.6 1,649 1,700 8.18 28/06/2019 0.120 0.070 0.120 0.115 06506T FBMKLCI-H6T 0.120 0.010 66 1,649 1,690 7.57 31/07/2019 0.315 0.250 0.290 0.285 06506V FBMKLCI-H6V 0.290 0.015 11.5 1,649 1,640 4.72 31/07/2019 0.165 0.135 0.165 0.165 06506W FBMKLCI-H6W 0.165 0.005 32 1,649 1,788 18.43 30/08/2019 0.140 0.095 0.140 0.135 06506X FBMKLCI-H6X 0.135 0.010 80 1,649 1,695 8.51 30/08/2019 0.140 0.030 0.090 0.090 522262 FGV-C62 0.090 Unch 240 1.160 1.200 26.72 23/10/2019 0.275 0.040 0.180 0.160 522263 FGV-C63 0.175 -0.010 304 1.160 0.950 9.05 28/06/2019 0.280 0.110 0.185 0.180 522265 FGV-C65 0.180 -0.015 59 1.160 0.950 9.83 02/08/2019 0.575 0.220 0.435 0.405 522267 FGV-C67 0.405 -0.035 456.8 1.160 0.800 3.88 31/10/2019 0.135 0.085 0.105 0.105 522270 FGV-C70 0.105 -0.005 0.4 1.160 1.300 25.65 29/11/2019 0.060 0.040 0.045 0.045 522271 FGV-C71 0.045 -0.005 86 1.160 1.580 47.84 30/09/2019 0.055 0.035 0.040 0.040 522272 FGV-C72 0.040 Unch 765.4 1.160 1.700 55.17 30/09/2019 0.105 0.070 0.085 0.080 522273 FGV-C73 0.085 -0.005 2447.6 1.160 1.380 35.09 30/09/2019 0.065 0.015 0.020 0.020 9318WB FITTERS-WB 0.020 -0.005 40 0.470 1.000 117.02 12/10/2019 0.120 0.070 0.085 0.085 0116WC FOCUS-WC 0.085 0.005 209 0.135 0.050 0.00 06/11/2019 0.335 0.075 0.195 0.190 9261WB GADANG-WB 0.195 -0.005 1085.4 0.640 1.060 96.09 29/11/2021 0.075 0.015 0.030 0.030 539857 GAMUDA-C57 0.030 -0.015 150 2.840 3.500 26.41 31/07/2019 0.110 0.050 0.060 0.055 539858 GAMUDA-C58 0.060 -0.005 2000 2.840 2.800 11.27 30/04/2019 0.230 0.070 0.165 0.155 539859 GAMUDA-C59 0.155 -0.015 232 2.840 2.350 4.58 30/08/2019 0.125 0.045 0.065 0.065 539861 GAMUDA-C61 0.065 -0.010 830 2.840 3.200 21.83 31/05/2019 0.130 0.055 0.090 0.090 539862 GAMUDA-C62 0.090 -0.010 50.7 2.840 2.500 7.04 13/06/2019 0.155 0.085 0.090 0.090 539863 GAMUDA-C63 0.090 -0.010 80 2.840 3.100 21.83 31/07/2019 0.085 0.085 0.085 0.085 539864 GAMUDA-C64 0.085 -0.065 134.8 2.840 3.880 48.59 07/10/2019 1.200 0.125 0.220 0.210 5398WE GAMUDA-WE 0.210 -0.010 1384.4 2.840 4.050 50.00 06/03/2021 0.410 0.135 0.315 0.305 5226WB GBGAQRS-WB 0.315 -0.005 10523.7 1.240 1.120 15.73 26/09/2023 0.360 0.175 0.270 0.265 5102CA GCB-CA 0.270 -0.010 44 3.630 2.800 6.89 30/08/2019 0.200 0.170 0.175 0.170 5102CB GCB-CB 0.170 -0.015 249.8 3.630 3.650 21.63 23/10/2019 0.155 0.135 0.135 0.135 5102CC GCB-CC 0.135 -0.005 799.8 3.630 3.880 25.48 29/11/2019 0.145 0.145 0.145 0.145 5102CE GCB-CE 0.145 -0.005 43 3.630 4.180 31.13 07/10/2019 0.360 0.035 0.065 0.055 0078WB GDEX-WB 0.055 -0.010 1404.4 0.345 0.383 26.81 05/02/2020 0.125 0.030 0.030 0.030 471542 GENM-C42 0.030 Unch 257.3 3.320 4.493 39.29 28/06/2019 0.085 0.035 0.035 0.035 471543 GENM-C43 0.035 -0.005 100 3.320 3.809 19.88 25/06/2019 0.175 0.105 0.145 0.140 471545 GENM-C45 0.140 -0.010 143.9 3.320 2.832 5.91 13/06/2019 0.155 0.100 0.100 0.100 471546 GENM-C46 0.100 -0.005 2400 3.320 3.321 14.73 31/07/2019 0.160 0.100 0.125 0.125 471547 GENM-C47 0.125 Unch 300 3.320 3.125 10.69 25/06/2019 0.220 0.170 0.185 0.185 471549 GENM-C49 0.185 -0.010 470 3.320 3.028 12.97 31/07/2019 0.215 0.145 0.165 0.160 471550 GENM-C50 0.160 -0.015 26.8 3.320 3.077 6.79 31/10/2019 0.155 0.115 0.115 0.115 471551 GENM-C51 0.115 -0.010 199.9 3.320 3.272 12.08 31/07/2019 0.130 0.115 0.115 0.115 471553 GENM-C53 0.115 -0.005 140 3.320 3.321 16.94 03/09/2019 0.080 0.055 0.060 0.055 471555 GENM-C55 0.060 -0.005 2370 3.320 4.100 32.17 30/09/2019 2.860 1.490 2.450 2.410 2291WA GENP-WA 2.410 -0.040 4.3 10.600 7.750 -4.15 17/06/2019 0.175 0.010 0.085 0.075 318257 GENTINGC57 0.075 -0.005 2197.3 6.860 7.700 17.71 28/06/2019 0.120 0.025 0.060 0.055 318258 GENTINGC58 0.060 Unch 505.9 6.860 7.250 11.81 30/09/2019 0.185 0.065 0.100 0.100 318261 GENTINGC61 0.100 -0.010 121.7 6.860 6.600 6.41 13/06/2019 0.240 0.090 0.130 0.125 318262 GENTINGC62 0.125 -0.010 440 6.860 7.000 10.79 28/06/2019 0.200 0.120 0.120 0.120 318263 GENTINGC63 0.120 -0.005 1999.6 6.860 6.880 14.29 30/08/2019 0.095 0.070 0.070 0.070 318264 GENTINGC64 0.070 -0.020 100 6.860 8.880 35.57 30/09/2019 0.245 0.120 0.200 0.190 0039WC GFM-WC 0.195 -0.010 1782.1 0.485 0.380 18.56 28/01/2022

YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE


0.170 0.050 0.070 0.065 5220WA GLOTEC-WA 0.070 0.005 85.2 0.460 0.720 71.74 19/12/2021 0.130 0.050 0.080 0.080 0082WB GPACKET-WB 0.080 0.005 49.9 0.310 0.400 54.84 24/11/2023 0.040 0.015 0.030 0.030 7096WA GPA-WA 0.030 Unch 1163 0.100 0.100 30.00 03/06/2025 0.100 0.005 0.005 0.005 516818 HARTA-C18 0.005 Unch 18 2.480 7.000 183.67 31/07/2019 0.125 0.055 0.055 0.055 516821 HARTA-C21 0.055 -0.015 500 4.570 5.880 35.89 30/08/2019 0.095 0.040 0.050 0.045 516822 HARTA-C22 0.050 Unch 360.2 4.570 5.400 23.63 29/11/2019 0.255 0.155 0.185 0.180 4324C7 HENGYUAN-C7 0.180 -0.010 61 5.790 5.180 14.34 30/08/2019 0.145 0.105 0.110 0.105 4324C8 HENGYUAN-C8 0.105 -0.015 160 5.790 6.500 34.02 30/09/2019 0.240 0.060 0.080 0.080 5072WB HIAPTEK-WB 0.080 Unch 850.3 0.290 0.500 100.00 23/06/2021 0.245 0.050 0.090 0.085 5199CM HIBISCS-CM 0.085 -0.015 1599.8 1.050 1.100 20.95 28/06/2019 0.125 0.040 0.075 0.075 5199CN HIBISCS-CN 0.075 -0.010 200 1.050 1.100 22.62 25/06/2019 0.150 0.105 0.130 0.115 5199CQ HIBISCS-CQ 0.120 -0.020 3646.5 1.050 0.900 14.29 30/08/2019 0.140 0.095 0.125 0.110 5199CR HIBISCS-CR 0.110 -0.015 6172.3 1.050 1.080 23.81 02/08/2019 0.110 0.080 0.100 0.090 5199CU HIBISCS-CU 0.090 -0.015 2616.3 1.050 1.280 39.05 30/08/2019 0.450 0.075 0.085 0.085 5199CV HIBISCS-CV 0.085 0.005 40 1.050 1.250 35.24 03/09/2019 0.105 0.075 0.095 0.080 5199CW HIBISCS-CW 0.080 -0.015 610.4 1.050 1.150 24.76 31/12/2019 0.665 0.200 0.490 0.475 5199WC HIBISCS-WC 0.475 -0.025 8791.8 1.050 1.060 46.19 19/03/2021 0.330 0.100 0.230 0.230 8443WB HIL-WB 0.230 -0.015 14 0.580 1.080 125.86 25/10/2027 0.075 0.030 0.035 0.035 5819CN HLBANK-CN 0.035 0.005 100 20.30 21.00 6.90 31/07/2019 0.230 0.060 0.060 0.060 5160WA HOMERIZ-WA 0.060 -0.010 7 0.610 0.920 60.66 09/07/2020 0.700 0.140 0.235 0.220 0185WA HSSEB-WA 0.220 -0.010 321.9 1.170 1.700 64.10 15/03/2023 0.025 0.010 0.020 0.020 7013WC HUBLINE-WC 0.020 Unch 0.7 0.055 0.055 36.36 17/12/2023 1.000 0.100 0.380 0.345 9687WB IDEAL-WB 0.360 Unch 333.8 1.120 1.000 21.43 30/03/2021 0.155 0.060 0.120 0.110 522510 IHH-C10 0.120 -0.005 351.8 5.790 5.400 5.70 28/06/2019 0.140 0.050 0.105 0.100 5225C8 IHH-C8 0.105 Unch 164.2 5.790 5.200 0.69 04/04/2019 0.130 0.020 0.110 0.100 333621 IJM-C21 0.110 0.015 0.8 2.130 2.000 5.52 31/05/2019 0.165 0.105 0.165 0.165 333624 IJM-C24 0.165 0.010 10 2.130 1.880 11.50 02/08/2019 0.190 0.120 0.190 0.170 333625 IJM-C25 0.190 0.015 80 2.130 1.750 8.92 03/09/2019 0.105 0.020 0.035 0.035 16626 INARI-C26 0.035 -0.005 1.9 1.560 1.850 25.32 30/09/2019 0.115 0.020 0.035 0.035 16628 INARI-C28 0.035 Unch 550 1.560 1.900 28.53 25/06/2019 0.105 0.050 0.065 0.065 16629 INARI-C29 0.065 -0.005 250 1.560 1.900 34.29 28/06/2019 0.160 0.095 0.125 0.120 16631 INARI-C31 0.125 -0.005 2491 1.560 1.280 10.10 02/08/2019 0.180 0.105 0.125 0.125 16632 INARI-C32 0.125 -0.010 1164 1.560 1.500 18.59 31/07/2019 0.335 0.200 0.275 0.270 16633 INARI-C33 0.270 -0.015 0.4 1.560 1.300 9.29 31/10/2019 0.120 0.075 0.080 0.080 16634 INARI-C34 0.080 -0.005 1361.8 1.560 1.500 16.67 31/07/2019 0.105 0.070 0.085 0.085 16636 INARI-C36 0.085 0.005 40 1.560 1.700 25.32 03/09/2019 0.125 0.100 0.105 0.105 16637 INARI-C37 0.105 -0.010 0.4 1.560 1.700 22.44 31/12/2019 0.105 0.090 0.100 0.100 16638 INARI-C38 0.100 -0.005 1210 1.560 1.750 31.41 25/09/2019 2.010 0.710 1.040 1.020 0166WB INARI-WB 1.020 -0.040 55.7 1.560 0.533 -0.43 17/02/2020 0.265 0.040 0.070 0.065 3379WB INSAS-WB 0.070 Unch 586.5 0.765 1.000 39.87 25/02/2020 0.110 0.035 0.040 0.035 196119 IOICORP-C19 0.040 -0.005 300 4.490 4.550 4.01 31/05/2019 0.025 0.005 0.010 0.005 0024WB JAG-WB 0.010 Unch 141.1 0.050 0.150 220.00 15/11/2020 0.530 0.150 0.500 0.490 4723WB JAKS-WB 0.495 -0.005 95 0.760 0.640 49.34 13/12/2023 0.125 0.050 0.110 0.100 0111WC K1-WC 0.100 -0.010 454.3 0.230 0.300 73.91 30/12/2021 0.065 0.065 0.065 0.065 7161CK KERJAYA-CK 0.065 -0.085 500 1.240 1.600 44.76 07/10/2019 0.365 0.140 0.190 0.185 7161WB KERJAYA-WB 0.190 Unch 255.2 1.240 1.600 44.35 28/02/2023 0.810 0.200 0.740 0.740 0151WA KGB-WA 0.740 Unch 64 1.250 0.500 -0.80 12/06/2019 0.580 0.210 0.340 0.330 5171WA KIMLUN-WA 0.340 0.010 8.1 1.210 1.680 66.94 12/03/2024 0.605 0.160 0.255 0.250 5027WB KMLOONG-WB 0.255 -0.035 31 1.250 1.400 32.40 10/04/2025 0.080 0.010 0.045 0.035 7017WB KOMARK-WB 0.040 0.005 2998.7 0.275 0.230 -1.82 21/01/2020 0.700 0.125 0.195 0.185 9385WA LAYHONG-WA 0.190 -0.005 2163.4 0.425 0.400 38.82 13/10/2021 0.157 0.020 0.030 0.030 7126WA LONBISC-WA 0.030 -0.005 171.5 0.380 0.800 118.42 26/01/2020 0.055 0.025 0.035 0.030 5068WA LUSTER-WA 0.035 Unch 201.5 0.080 0.100 68.75 03/06/2022 0.085 0.030 0.035 0.030 5068WB LUSTER-WB 0.035 Unch 202 0.080 0.100 68.75 26/05/2023 0.040 0.020 0.020 0.020 858319 MAHSING-C19 0.020 -0.005 60 0.920 1.180 32.61 28/06/2019 0.100 0.010 0.015 0.015 8583WC MAHSING-WC 0.015 Unch 465 0.920 2.100 129.89 21/02/2020 0.065 0.010 0.025 0.020 526415 MALAKOFC15 0.020 -0.005 190 0.910 1.000 12.09 28/06/2019 0.080 0.005 0.005 0.005 526416 MALAKOFC16 0.005 Unch 718.2 0.302 0.950 217.05 29/03/2019 0.105 0.040 0.055 0.050 526418 MALAKOFC18 0.055 Unch 560 0.910 0.900 7.97 25/06/2019 0.145 0.075 0.115 0.115 526419 MALAKOFC19 0.115 Unch 40 0.910 0.800 9.40 31/07/2019 0.060 0.045 0.045 0.045 526422 MALAKOFC22 0.045 -0.005 1051.6 0.910 1.100 30.77 30/09/2019 0.330 0.105 0.140 0.125 5236WA MATRIX-WA 0.140 -0.005 2.6 1.900 2.400 33.68 20/07/2020 0.180 0.045 0.075 0.045 115543 MAYBANKC43 0.045 -0.030 350 9.230 9.000 0.92 30/04/2019 0.105 0.005 0.005 0.005 115544 MAYBANKC44 0.005 Unch 30 1.906 10.900 473.71 29/03/2019 0.135 0.075 0.075 0.075 115550 MAYBANKC50 0.075 Unch 491 9.230 9.200 5.36 25/06/2019 0.065 0.035 0.040 0.035 115552 MAYBANKC52 0.035 Unch 1161.3 9.230 9.500 5.58 29/11/2019 0.490 0.250 0.440 0.440 5152WA MBL-WA 0.440 -0.005 5 1.240 0.800 0.00 28/11/2022 0.040 0.030 0.030 0.030 117121 MBSB-C21 0.030 -0.010 434.1 0.935 1.100 21.66 31/12/2019 0.200 0.005 0.010 0.005 1694WB MENANG-WB 0.005 -0.005 207.1 0.390 0.550 42.31 09/07/2019 0.050 0.015 0.025 0.025 5040WB MERIDIAN-WB 0.025 Unch 120 0.285 0.900 224.56 22/04/2022 0.045 0.020 0.020 0.020 5040WC MERIDIAN-WC 0.020 -0.005 20 0.285 0.800 187.72 24/08/2024 1.940 1.010 1.680 1.680 3069WA MFCB-WA 1.680 Unch 5 3.780 2.220 3.17 08/04/2020 0.430 0.125 0.395 0.370 3662WC MFLOUR-WC 0.375 -0.020 4802 0.740 0.680 42.57 23/01/2024 0.205 0.045 0.145 0.145 381619 MISC-C19 0.145 -0.010 40 6.720 6.060 0.97 28/06/2019 0.190 0.015 0.045 0.040 9571WD MITRA-WD 0.045 Unch 525.2 0.370 0.940 166.22 23/08/2020 0.210 0.050 0.095 0.090 9571WE MITRA-WE 0.090 -0.005 64.8 0.370 0.940 178.38 17/04/2023 0.095 0.045 0.060 0.060 0034WB MMAG-WB 0.060 Unch 550 0.220 0.200 18.18 27/11/2022 0.070 0.055 0.055 0.055 219412 MMCCORPC12 0.055 Unch 100 1.010 1.200 37.87 30/09/2019 0.140 0.045 0.080 0.080 165137 MRCB-C37 0.080 Unch 40 0.815 0.700 5.52 30/04/2019 0.150 0.085 0.130 0.125 165139 MRCB-C39 0.125 -0.005 1103 0.815 0.630 7.98 02/08/2019 0.105 0.085 0.090 0.090 165143 MRCB-C43 0.090 -0.010 950.1 0.815 0.950 33.13 30/09/2019 0.350 0.180 0.230 0.225 1651WB MRCB-WB 0.225 -0.005 130.6 0.815 1.250 80.98 29/10/2027 0.470 0.060 0.195 0.175 13844 MYEG-C44 0.175 -0.010 3780 1.330 1.000 1.50 29/03/2019 0.098 0.005 0.010 0.010 13849 MYEG-C49 0.010 Unch 50 1.330 1.880 43.23 15/04/2019 0.135 0.050 0.130 0.115 13855 MYEG-C55 0.115 -0.015 23346.2 1.330 1.200 16.17 28/06/2019 0.405 0.225 0.405 0.395 13856 MYEG-C56 0.400 0.005 127.5 1.330 0.950 16.54 31/07/2019 0.215 0.110 0.210 0.205 13857 MYEG-C57 0.210 -0.005 417.6 1.330 1.000 14.66 30/08/2019 0.135 0.060 0.135 0.125 13858 MYEG-C58 0.125 -0.010 4383.7 1.330 1.200 18.42 02/08/2019 0.205 0.105 0.205 0.190 13859 MYEG-C59 0.190 -0.015 9073.7 1.330 0.880 9.02 30/08/2019 0.255 0.115 0.255 0.235 13860 MYEG-C60 0.235 -0.010 7.5 1.330 1.100 18.05 29/11/2019 0.145 0.075 0.145 0.130 13861 MYEG-C61 0.130 -0.010 3912.6 1.330 1.300 27.07 30/09/2019 0.190 0.100 0.190 0.180 13862 MYEG-C62 0.180 -0.010 116 1.330 1.100 16.54 17/09/2019 0.155 0.090 0.155 0.145 13863 MYEG-C63 0.145 -0.010 4286.2 1.330 1.200 22.93 23/10/2019 0.125 0.100 0.120 0.110 13864 MYEG-C64 0.110 -0.015 6100.8 1.330 1.450 33.83 25/09/2019 0.305 0.235 0.240 0.240 0108WB N2N-WB 0.240 -0.010 4 0.815 0.830 31.29 08/01/2024 0.020 0.005 0.005 0.005 0020WB NETX-WB 0.005 Unch 50 0.015 0.050 266.67 08/06/2019 0.335 0.050 0.180 0.175 7241WA NGGB-WA 0.175 -0.005 867.4 0.475 0.600 63.16 18/10/2020 0.020 0.010 0.010 0.010 7139WB NICE-WB 0.010 Unch 100 0.030 0.060 133.33 22/01/2024 0.410 0.200 0.255 0.250 0083WC NOTION-WC 0.255 0.005 78 0.570 0.840 92.11 14/03/2023 0.205 0.065 0.110 0.100 0172WA OCK-WA 0.105 0.005 6007 0.580 0.710 40.52 15/12/2020 0.140 0.025 0.030 0.030 7071WC OCR-WC 0.030 Unch 93 0.255 0.500 107.84 24/07/2021 0.110 0.045 0.060 0.060 7071WD OCR-WD 0.060 Unch 376.2 0.255 0.220 9.80 18/02/2022 0.145 0.015 0.145 0.115 0079WA ORION-WA 0.135 0.010 29261.9 0.210 0.170 45.24 26/07/2022 0.365 0.100 0.180 0.175 5260WA OWG-WA 0.175 Unch 242 0.600 0.800 62.50 29/09/2023 0.160 0.095 0.105 0.100 7052CX PADINI-CX 0.105 Unch 908.6 3.580 3.900 23.60 30/08/2019 0.130 0.070 0.070 0.070 7052CY PADINI-CY 0.070 -0.005 50 3.580 4.000 23.46 31/07/2019 0.420 0.245 0.310 0.295 8419WA PANSAR-WA 0.310 -0.005 3.2 0.800 0.950 57.50 06/06/2023 0.210 0.045 0.120 0.115 5125WA PANTECH-WA 0.120 Unch 120.1 0.520 0.500 19.23 21/12/2020 0.100 0.030 0.070 0.065 5022WA PAOS-WA 0.065 -0.005 75.2 0.390 0.500 44.87 14/12/2021 0.060 0.025 0.035 0.035 7225WB PA-WB 0.035 Unch 348.6 0.055 0.060 72.73 17/12/2022 0.105 0.020 0.025 0.020 129527 PBBANK-C27 0.025 Unch 102.2 23.760 25.000 7.32 28/06/2019 0.270 0.115 0.115 0.115 129529 PBBANK-C29 0.115 -0.010 210 23.759 25.000 10.06 17/06/2019 0.195 0.115 0.120 0.115 129531 PBBANK-C31 0.115 -0.010 6902.8 23.759 25.300 11.33 31/07/2019 0.120 0.035 0.100 0.095 6068WA PCCS-WA 0.100 -0.005 602.2 0.365 0.600 91.78 25/12/2022 0.125 0.040 0.040 0.040 518325 PCHEM-C25 0.040 -0.005 24.5 9.030 10.300 16.28 17/06/2019 0.160 0.135 0.135 0.135 518329 PCHEM-C29 0.135 Unch 40 9.030 8.500 6.09 17/09/2019 0.200 0.170 0.175 0.175 518330 PCHEM-C30 0.175 0.005 300 9.030 8.900 11.16 23/10/2019 0.040 0.005 0.010 0.010 6254WB PDZ-WB 0.010 Unch 450 0.040 0.100 175.00 29/01/2023 0.200 0.030 0.045 0.040 8311WC PESONA-WC 0.040 -0.005 481.9 0.225 0.250 28.89 27/01/2020 0.125 0.050 0.060 0.055 5681CX PETDAG-CX 0.055 Unch 361.3 24.760 26.500 11.47 30/09/2019 0.130 0.010 0.015 0.010 6033CS PETGAS-CS 0.010 -0.005 553.1 11.827 19.000 61.92 28/06/2019 0.325 0.055 0.075 0.075 3611WA PGLOBE-WA 0.075 Unch 10 1.100 1.000 -2.27 07/04/2020 2.260 0.795 1.590 1.590 7172WA PMBTECH-WA 1.590 -0.060 5 3.360 3.010 36.90 12/07/2023 0.205 0.035 0.075 0.055 886915 PMETAL-C15 0.055 -0.035 46.7 4.500 4.200 0.67 30/04/2019 0.120 0.035 0.035 0.035 886921 PMETAL-C21 0.035 -0.005 40 4.500 5.600 28.72 28/06/2019 0.110 0.035 0.040 0.035 886922 PMETAL-C22 0.035 Unch 40 4.500 5.100 17.22 13/06/2019 0.155 0.110 0.140 0.125 886926 PMETAL-C26 0.135 -0.015 489.8 4.500 4.600 18.72 30/09/2019 0.160 0.105 0.140 0.135 886927 PMETAL-C27 0.135 -0.025 0.8 4.500 4.300 10.56 31/12/2019 4.880 3.330 4.060 4.030 8869WC PMETAL-WC 4.060 -0.220 83 4.500 0.390 -1.11 22/08/2019 0.620 0.300 0.535 0.530 7088WB POHUAT-WB 0.530 -0.015 40 1.550 1.000 -1.29 21/10/2020 0.100 0.040 0.040 0.040 463430 POS-C30 0.040 -0.005 20 1.840 2.200 28.26 25/06/2019 0.150 0.070 0.075 0.070 463431 POS-C31 0.070 -0.010 782.5 1.840 2.000 23.91 31/07/2019 0.240 0.100 0.105 0.100 463433 POS-C33 0.100 -0.010 230 1.840 2.000 19.57 31/10/2019 0.220 0.035 0.060 0.060 5070WA PRTASCO-WA 0.060 -0.005 70.9 0.255 0.750 217.65 25/04/2023 0.095 0.010 0.030 0.025 7145WA PSIPTEK-WA 0.030 Unch 203.6 0.125 0.100 4.00 16/11/2019 0.150 0.045 0.060 0.055 0186WA PTRANS-WA 0.055 -0.005 506 0.230 0.235 26.09 19/09/2020 0.195 0.055 0.065 0.060 0007WA PUC-WA 0.060 -0.010 530.9 0.095 0.100 68.42 25/12/2024 0.550 0.210 0.260 0.255 7237WA PWROOT-WA 0.255 -0.005 210 1.280 1.540 40.23 24/07/2023 0.075 0.005 0.005 0.005 7498WB RALCO-WB 0.005 Unch 200 0.235 1.000 327.66 13/12/2019 0.135 0.045 0.060 0.055 5256WA REACH-WA 0.060 Unch 520 0.305 0.750 165.57 12/08/2022 0.495 0.330 0.405 0.405 0200WA REVENUE-WA 0.405 Unch 588.5 1.230 1.250 34.55 14/01/2024

Main Market & Ace Market Warrants

MarketsG L O B A L M A R K E T S . B U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

TUESDAY MARCH 26, 2019 • THEED G E FINANCIAL DAILY 2 9

Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants

China — Stocks follow global markets lower

SHANGHAI: Chinese stocks fell yesterday tracking a global sell-off , as sentiment for equities soured on growing fears about a US recession, and on caution ahead of fresh US-China trade talks. At the close of trade, the blue-chip CSI 300 Index fell 90.98 points or 2.37% to 3,742.83, while the Shanghai Composite Index (SSEC) closed down 61.12 points or 1.97% to 3,043.03. Last Friday, all three major US stock indices marked their biggest one-day percentage losses since Jan 3. The Dow Jones Industrial Average slid 1.8%, the S&P 500 Index was off 1.9% and the Nasdaq Composite Index dropped 2.5%. “For the short term, some foreign money could retreat from mainland’s consumer fi rms as the Wall Street sell-off could lead to lower overall equity exposure of foreign investors,” TF Securities said in report. Th e net outfl ows via the northbound legs of the Stock Connect programme linking mainland China and Hong Kong reached about 10.4 billion yuan yesterday, data from Refi nitiv showed. “Th ough in the long run, it would help the overall A-share market, in particular the recovery in the valuations of growth stocks, as the unexpected US economic slowdown off ers room for further global easing, and for China to lower its domestic interest rates,”

the brokerage said. Th ere was also caution ahead of the latest round of trade talks. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for talks scheduled to start on Th ursday, while a Chinese delegation led by Vice Premier Liu He will visit Washington next week, the White House said on Saturday. Th e largest percentage gainers on the SSEC were Jiangsu Sunshine Co Ltd, up 10.06%, followed by Harbin Dongan Auto Engine Co Ltd and Shanghai Pudong Road and Bridge Construction Co Ltd, both up 10.05%. Th e largest percentage losers in the SSEC were Flat Glass Group Co Ltd, down 10%, followed by Shanghai Phoenix Enterprise Group Co Ltd and Shanghai Xintonglian Packaging Co Ltd, both losing 9.99% respectively. So far this year, the SSEC is up 22% and the CSI 300 has risen 24.3%, while China’s H-share index listed in Hong Kong is up 10.9%. Shanghai stocks have risen 3.47% this month. Th e Hang Seng Index fell 590.01 points or 2.03% to 28,523.35, its biggest single-day drop since Jan 2, while the Hang Seng China Enterprises Index lost 285.41 points or 2.48% to 11,232.07. Th e Hang Seng Energy Index tumbled 4.1%, as China’s biggest coal miner China Shenhua plummeted 6.9% after slower profi ts in 2018.

Japan — Nikkei posts biggest daily drop in three months on renewed fears of global slowdown

TOKYO: Japan’s Nikkei posted the biggest daily drop in three months yesterday as investors moved into bonds and other assets perceived as safe amid renewed fears of a global economic slowdown. The Nikkei Share Average stumbled 650.23 points or 3.01% to 20,977.11, the lowest since mid-February and the steepest daily fall since late December. Th e broader Topix fell 2.5% to a two-week low of 1,577.41, with all of its 33 sub-sectors trading in negative territory. Last Friday, the spread between yields of US three-month Treasury bills exceeded those of 10-year notes for the fi rst time since 2007. The inversion of the US Treasury yield curve suggested the world’s largest economy could slide into recession and reignited fears of a deepening slowdown in the global economy. Japanese insurers and banks, which seek higher yielding products such as US bonds, sold off sharply yesterday, weighed down by the inversion of part of the US yield curve. Dai-ichi Life Holdings shed 3%, T&D Holdings was off 2.7% and Tokio Marine Holdings dropped 1.4%. “Insurers react negatively as it becomes harder for them to manage assets,” said Eiji Kinouchi, chief technical analyst at Daiwa Securities.

Banks were also down, with Mitsubishi UFJ Financial Group 3% lower and Mizuho Financial Group off 1.1%. Shares of companies that are relatively sensitive to the global economic outlook, such as factory automation equipment makers, lost ground yesterday. Fanuc fell 3.8%, while Keyence, an index heavyweight, gave up 1.2%. Daiwa’s Kinouchi said firms that are relatively sensitive to the global outlook may rebound on robust stimulus in China just as many had done after a sell-off in December. The drug sector remained in the spotlight, falling 3.9%. Drug maker Eisai Co dived 19.83% to a daily-limit low of ¥6,065 after the company and its partner Biogen Inc said last week they had scrapped trials of an experimental Alzheimer’s drug. T h e n e w s w e i g h e d o n o t h e r pharmaceutical names for a second session, with Astellas Pharmaceutical down 3.8% and Takeda Pharmaceutical giving up 2.5%. Japanese government bond prices (JGB) rose across the board, driving the benchmark 10-year yield to a 31-month low, as concerns towards a widespread economic slowdown mounted and boosted safe-haven debt. Th e 10-year JGB yield was down 1.5 basis points at minus 0.09% after touching minus 0.095%, its lowest since August 2016. Th e 30-year yield was two basis points lower at 0.5%after brushing 0.49%, its lowest since November 2016. — Reuters

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Mar 25, 20191900

2875

3850

4825

58003,043.03

-61.12(-1.97%)

Hang SengIndex points

21,056.93

Mar 1, 2010 Mar 25, 2019

28,523.35-590.01

(-2.03%)

15820

20315

24810

29305

33800

Nikkei 225Index points

10,172.06

Mar 1, 20108100

12200

16300

20400

24500

20,977.11-650.23

(-3.01%)

Mar 25, 2019

FT Straits TimesIndex points

Mar 1, 2010

2,774.06

3,182.92-29.18

(-0.91%)

Mar 25, 2019

2400

2725

3050

3375

3700

Bursa Malaysia Equity Derivatives

0.200 0.040 0.110 0.110 9954WB RGTBHD-WB 0.110 -0.005 374.5 0.175 0.100 20.00 14/05/2023 0.110 0.035 0.045 0.040 106611 RHBBANKC11 0.040 Unch 452 5.720 5.750 3.32 04/04/2019 0.130 0.075 0.105 0.090 106612 RHBBANKC12 0.090 -0.005 210 5.720 5.800 8.01 31/07/2019 0.110 0.055 0.090 0.080 106613 RHBBANKC13 0.080 Unch 324.5 5.720 5.600 4.90 29/11/2019 0.180 0.055 0.090 0.085 8567WB SALCON-WB 0.085 Unch 1036.3 0.275 0.300 40.00 19/07/2025 0.030 0.015 0.015 0.015 0133WE SANICHI-WE 0.015 Unch 26.7 0.055 0.100 109.09 13/12/2021 0.205 0.045 0.060 0.060 521870 SAPNRGC70 0.060 -0.010 20 0.345 0.380 27.54 31/05/2019 0.075 0.005 0.005 0.005 521871 SAPNRGC71 0.005 -0.005 500 0.345 0.490 45.08 15/04/2019 0.100 0.020 0.035 0.030 521873 SAPNRGC73 0.030 -0.005 720.1 0.345 0.400 28.99 31/05/2019 0.055 0.020 0.040 0.035 521874 SAPNRGC74 0.035 Unch 1565 0.345 0.409 33.98 28/06/2019 0.105 0.075 0.095 0.085 521875 SAPNRGC75 0.090 Unch 6330.5 0.345 0.280 20.29 30/08/2019 0.100 0.070 0.090 0.080 521876 SAPNRGC76 0.080 -0.005 9118.7 0.345 0.420 54.20 31/01/2020 0.180 0.085 0.155 0.140 5218WA SAPNRG-WA 0.145 Unch 156636 0.345 0.490 84.06 23/01/2026 0.270 0.065 0.080 0.080 7247WA SCGM-WA 0.080 -0.010 0.4 1.120 3.960 260.71 31/07/2020 0.085 0.055 0.065 0.060 4731CF SCIENTX-CF 0.060 Unch 10.2 8.500 8.880 10.12 29/11/2019 0.070 0.005 0.015 0.010 7158WB SCOMI-WB 0.010 Unch 165.9 0.045 0.210 388.89 18/02/2023 0.095 0.030 0.080 0.080 0028WA SCOPE-WA 0.080 Unch 300.6 0.215 0.150 6.98 17/07/2020 0.155 0.020 0.040 0.040 7073WC SEACERA-WC 0.040 Unch 3643 0.340 1.000 205.88 21/01/2021 0.105 0.060 0.060 0.060 5279CP SERBADK-CP 0.060 -0.015 10 3.820 4.500 25.65 28/06/2019 0.105 0.090 0.090 0.090 5279CS SERBADK-CS 0.090 -0.010 62 3.820 4.200 21.73 17/09/2019 0.350 0.170 0.240 0.230 7180WA SERNKOU-WA 0.240 0.010 25 0.535 0.400 19.63 20/03/2023 0.170 0.050 0.075 0.075 7246WA SIGN-WA 0.075 -0.005 30 0.450 0.970 132.22 21/04/2021 0.115 0.075 0.085 0.080 419732 SIME-C32 0.085 -0.005 360 2.200 2.400 16.82 30/08/2019 0.115 0.090 0.090 0.090 5285CJ SIMEPLT-CJ 0.090 Unch 199.8 5.060 5.200 17.00 30/08/2019 0.115 0.115 0.115 0.115 5285CK SIMEPLT-CK 0.115 -0.035 200 5.060 6.180 35.77 07/10/2019 0.065 0.055 0.060 0.060 5288CL SIMEPROP-CL 0.060 -0.005 50 1.100 1.180 23.64 30/09/2019 0.080 0.035 0.045 0.040 7155CO SKPRES-CO 0.045 Unch 300 1.330 1.350 11.65 30/05/2019 0.115 0.105 0.110 0.110 7155CQ SKPRES-CQ 0.110 -0.005 200 1.330 1.350 26.32 29/11/2019 0.145 0.050 0.100 0.095 9776WC SMCAP-WC 0.100 Unch 654.5 0.195 0.200 53.85 29/08/2023 0.090 0.025 0.030 0.030 0093WA SOLUTN-WA 0.030 0.005 300 0.085 0.200 170.59 04/07/2021 0.105 0.005 0.010 0.005 866410 SPSETIA-C10 0.010 Unch 1240.1 2.270 2.800 24.67 28/06/2019 0.180 0.060 0.065 0.065 866411 SPSETIA-C11 0.065 0.005 110 2.270 2.300 9.91 25/06/2019 0.165 0.055 0.055 0.055 866413 SPSETIA-C13 0.055 Unch 170 2.270 2.500 17.40 31/07/2019 0.225 0.105 0.110 0.105 866414 SPSETIA-C14 0.110 0.005 0.4 2.270 2.150 6.83 31/10/2019 0.085 0.070 0.070 0.070 866416 SPSETIA-C16 0.070 Unch 1859.2 2.270 2.580 25.99 29/11/2019 0.130 0.040 0.050 0.050 0129WA SRIDGE-WA 0.050 -0.005 189.5 0.210 0.180 9.52 24/02/2023 0.180 0.095 0.180 0.170 0080WA STRAITS-WA 0.175 0.005 10808.4 0.275 0.115 5.45 10/08/2022 0.055 0.005 0.005 0.005 1201WA SUMATEC-WA 0.005 Unch 18.8 0.010 0.320 3,150 03/03/2021 0.450 0.210 0.280 0.270 5211WB SUNWAY-WB 0.275 -0.005 630.5 1.680 1.790 22.92 03/10/2024 0.170 0.030 0.045 0.045 0148WA SUNZEN-WA 0.045 Unch 177.4 0.160 0.100 -9.37 14/04/2019 0.225 0.015 0.020 0.020 710655 SUPERMX-C55 0.020 -0.005 299.7 1.420 1.750 26.06 31/07/2019 0.310 0.070 0.075 0.070 710656 SUPERMX-C56 0.070 -0.005 250 1.420 1.400 10.92 30/05/2019 0.260 0.050 0.055 0.050 710659 SUPERMX-C59 0.050 -0.010 89.8 1.420 1.500 14.44 30/08/2019 0.110 0.050 0.055 0.050 710662 SUPERMX-C62 0.050 -0.005 1548.1 1.420 1.950 46.13 30/09/2019 0.230 0.055 0.080 0.080 7186WB SWSCAP-WB 0.080 0.015 1 0.660 0.900 48.48 19/07/2023 0.080 0.010 0.010 0.010 7082WB SYF-WB 0.010 Unch 735 0.230 0.700 208.70 11/11/2019 0.116 0.022 0.030 0.030 1538WB SYMLIFE-WB 0.030 -0.005 285.5 0.405 0.790 102.47 11/11/2020 0.100 0.050 0.085 0.070 6139CC TAKAFUL-CC 0.070 -0.005 387.9 4.550 4.600 10.33 29/11/2019 0.165 0.120 0.160 0.155 6139CD TAKAFUL-CD 0.160 0.015 1200 4.550 4.400 17.80 29/11/2019 0.205 0.030 0.035 0.030 7200WA TEKSENG-WA 0.030 -0.010 266.5 0.240 0.250 16.67 29/01/2020 0.060 0.005 0.005 0.005 534749 TENAGA-C49 0.005 Unch 75 1.119 17.500 1,469 30/04/2019 0.190 0.035 0.035 0.035 534750 TENAGA-C50 0.035 -0.005 1250 12.760 14.400 16.14 28/06/2019 0.140 0.025 0.040 0.035 534751 TENAGA-C51 0.040 Unch 151.1 12.760 14.000 12.85 30/08/2019



0.105 0.050 0.050 0.050 534753 TENAGA-C53 0.050 -0.005 400 12.760 14.400 17.48 02/08/2019 0.125 0.090 0.090 0.090 534754 TENAGA-C54 0.090 -0.010 180 12.760 13.800 13.79 23/10/2019 0.375 0.100 0.250 0.230 7252WA TEOSENG-WA 0.250 -0.025 25.4 1.240 1.350 29.03 29/01/2020 1.700 0.705 1.040 1.020 7034WA TGUAN-WA 1.020 -0.030 75 2.540 1.500 -0.79 09/10/2019 0.264 0.018 0.075 0.060 7889WB THRIVEN-WB 0.060 -0.010 1167.6 0.225 0.480 140.00 05/10/2020 0.170 0.005 0.005 0.005 486327 TM-C27 0.005 Unch 100 0.914 4.500 394.80 29/03/2019 0.110 0.020 0.080 0.080 486334 TM-C34 0.080 -0.005 0.4 3.120 3.200 10.26 31/07/2019 0.130 0.065 0.105 0.105 486335 TM-C35 0.105 -0.010 10 3.120 2.800 8.25 28/06/2019 0.390 0.115 0.350 0.350 486337 TM-C37 0.350 -0.010 443.7 3.120 2.150 2.56 30/09/2019 0.205 0.110 0.175 0.175 486338 TM-C38 0.175 -0.010 100 3.120 2.500 8.17 17/06/2019 0.255 0.160 0.230 0.220 486339 TM-C39 0.230 -0.005 70 3.120 2.600 9.13 31/07/2019 0.100 0.085 0.085 0.085 486341 TM-C41 0.085 -0.010 100 3.120 3.500 25.80 30/09/2019 0.180 0.010 0.015 0.010 0101WB TMCLIFE-WB 0.015 Unch 110.8 0.725 0.750 5.52 21/06/2019 0.380 0.120 0.140 0.120 7285WA TOMYPAK-WA 0.130 -0.015 663 0.495 0.930 114.14 21/06/2021 0.245 0.020 0.020 0.020 711342 TOPGLOV-C42 0.020 Unch 150 4.480 5.800 31.92 31/05/2019 0.145 0.020 0.030 0.025 711344 TOPGLOV-C44 0.025 Unch 37.2 4.480 6.600 50.39 31/07/2019 0.160 0.075 0.085 0.075 711345 TOPGLOV-C45 0.085 0.010 1236.3 4.480 4.600 15.96 31/07/2019 0.160 0.065 0.075 0.065 711346 TOPGLOV-C46 0.070 0.005 5890 4.480 5.300 26.90 31/07/2019 0.180 0.080 0.090 0.090 711347 TOPGLOV-C47 0.090 0.005 45 4.480 5.200 26.12 30/08/2019 0.095 0.060 0.070 0.065 711348 TOPGLOV-C48 0.065 Unch 128.7 4.480 5.000 20.31 29/11/2019 0.175 0.125 0.125 0.125 711349 TOPGLOV-C49 0.125 Unch 10 4.480 5.000 25.56 30/09/2019 0.115 0.090 0.095 0.095 711350 TOPGLOV-C50 0.095 0.005 122 4.480 5.300 28.91 17/09/2019 0.260 0.080 0.090 0.085 7173WB TOYOINK-WB 0.085 -0.005 55.8 0.620 1.500 155.65 06/11/2023 0.270 0.110 0.200 0.200 7176WA TPC-WA 0.200 -0.020 40 0.410 0.200 -2.44 19/01/2021 0.145 0.015 0.025 0.020 5401WA TROP-WA 0.025 0.005 257.8 0.870 1.000 17.82 06/12/2019 0.105 0.095 0.095 0.095 7100CF UCHITEC-CF 0.095 -0.005 599.8 2.640 2.750 22.16 29/11/2019 0.080 0.055 0.060 0.060 514866 UEMS-C66 0.060 -0.015 180 0.840 0.880 19.05 28/06/2019 0.260 0.105 0.205 0.190 458813 UMW-C13 0.190 -0.015 11.2 5.790 4.700 0.86 30/08/2019 0.240 0.145 0.185 0.185 458814 UMW-C14 0.185 -0.005 4.7 5.790 4.880 3.45 17/06/2019 0.260 0.155 0.200 0.200 458815 UMW-C15 0.200 -0.005 20 5.790 4.800 3.63 28/06/2019 0.160 0.105 0.110 0.105 458816 UMW-C16 0.105 -0.010 160 5.790 5.800 11.05 25/06/2019 0.160 0.105 0.110 0.105 458817 UMW-C17 0.105 -0.005 93.2 5.790 6.300 18.24 31/07/2019 0.160 0.050 0.120 0.110 5243WA VELESTO-WA 0.110 -0.005 4234.4 0.295 0.395 71.19 18/10/2024 0.760 0.410 0.505 0.505 7240WA VERTICE-WA 0.505 -0.005 5.2 0.880 0.500 14.20 31/03/2024 0.355 0.100 0.180 0.175 0120WB VIS-WB 0.175 -0.005 248 0.490 0.750 88.78 16/11/2022 0.023 0.005 0.005 0.005 0069WC VIVOCOM-WC 0.005 Unch 5 0.015 0.070 400.00 22/01/2020 0.007 0.001 0.005 0.005 0069WD VIVOCOM-WD 0.005 Unch 1000 0.015 0.070 400.00 08/07/2020 0.015 0.005 0.005 0.005 0069WE VIVOCOM-WE 0.005 -0.005 871.1 0.015 0.050 266.67 22/08/2023 0.500 0.310 0.390 0.390 7070WC VIZIONE-WC 0.390 -0.015 75 0.965 0.700 12.95 05/02/2022 0.135 0.070 0.095 0.095 696310 VS-C10 0.095 -0.005 4130.2 1.010 1.200 42.33 31/07/2019 0.100 0.075 0.080 0.080 696312 VS-C12 0.080 -0.005 1400 1.010 1.380 60.40 30/09/2019 0.125 0.095 0.100 0.100 696313 VS-C13 0.100 -0.010 27 1.010 1.100 38.61 23/10/2019 0.075 0.060 0.070 0.070 696314 VS-C14 0.070 -0.005 28 1.010 1.450 65.05 31/10/2019 0.165 0.005 0.005 0.005 6963C5 VS-C5 0.005 Unch 50 1.010 1.600 59.90 29/03/2019 0.170 0.095 0.135 0.135 6963C9 VS-C9 0.135 -0.010 2050 1.010 0.880 20.54 02/08/2019 0.220 0.045 0.075 0.070 9679WE WCT-WE 0.075 Unch 523.8 0.820 2.080 162.80 27/08/2020 0.180 0.095 0.135 0.135 0197WA WEGMANS-WA 0.135 Unch 69.5 0.320 0.300 35.94 13/01/2022 0.180 0.085 0.095 0.090 0162WA WIDAD-WA 0.090 -0.005 7115.9 0.310 0.350 41.94 05/08/2023 0.260 0.070 0.125 0.110 7245WA WZSATU-WA 0.115 Unch 336.8 0.275 0.380 80.00 28/10/2024 0.030 0.015 0.015 0.015 5156WD XDL-WD 0.015 Unch 2603.8 0.100 0.180 95.00 17/01/2022 0.130 0.015 0.035 0.035 7293CT YINSON-CT 0.035 Unch 10 4.620 4.680 4.71 31/05/2019 0.990 0.090 0.095 0.090 7066WA YONGTAI-WA 0.095 Unch 411.5 0.350 0.500 70.00 24/06/2020

Main Market & Ace Market Warrants

MarketsI N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X


Local event to watch out for today

While every eff ort is made to ensure accuracy, the information presented is not an exhaustive list and is not an offi cial record of shareholder fi lings. Direct and indirect share are combined due to space constraints. Readers who are interested should check the offi cial fi lings fi led with Bursa Malaysia. Note: * denotes Ace Market

AIRASIA GROUP (233,500) EMPLOYEES PROVIDENT FUND BOARD 189,073,349 19/3AL-’AQAR HEALTHCARE REIT 255,000 EMPLOYEES PROVIDENT FUND BOARD 67,569,838 19/3BAHVEST RESOURCES (2,114,000) DATUK LO FUI MING 188,584,290 19/3CAHYA MATA SARAWAK (178,400) DATO SRI SULAIMAN ABDUL 111,301,155 19 & 21/3 RAHMAN TAIBCIMB GROUP (1,621,000) EMPLOYEES PROVIDENT FUND BOARD 1,337,592,364 18 & 19/3CONNECTCOUNTY 2,300,000 NEXUS CREATIVE (MAL) 102,780,500 21/3CRG INCORPORATED 1,844,000 DATO’ SRI CHIANG FONG YEE 143,232,840 20 & 21/3CYPARK RESOURCES (96,000) EMPLOYEES PROVIDENT FUND BOARD 38,284,150 19/3DAIBOCHI 18,679,015 SCIENTEX 190,663,108 19,20 & 21/3DIALOG GROUP 188,400 EMPLOYEES PROVIDENT FUND BOARD 492,979,416 19/3DIGI.COM 213,700 EMPLOYEES PROVIDENT FUND BOARD 1,095,122,040 19/3DRB-HICOM (369,400) EMPLOYEES PROVIDENT FUND BOARD 192,992,697 15 & 18/3ECOFIRST CONSOLIDATED 170,000 DATO’ TEOH SENG KIAN 133,538,432 21/3EDUSPEC (4,000,000) VICTORY SOLUTIONS 19/3FRASER & NEAVE (381,100) EMPLOYEES PROVIDENT FUND BOARD 43,835,730 19/3GAMUDA 267,800 EMPLOYEES PROVIDENT FUND BOARD 292,648,205 19/3GD EXPRESS CARRIER 21,827,465 SINGAPORE POST LIMITED 655,106,119 21/3GD EXPRESS CARRIER (21,827,465) GD EXPRESS (M) SDN 1,408,770,556 21/3GENTING PLANTATIONS (75,200) EMPLOYEES PROVIDENT FUND BOARD 68,658,900 19/3GUAN CHONG 1,068,000 GUAN CHONG RESOURCES SDN 253,723,469 22/3HARTALEGA 322,000 EMPLOYEES PROVIDENT FUND BOARD 235,231,600 19/3HOCK SENG LEE (5,485,387) DATO YU CHEE HOE 1,428,153 21/3HOCK SENG LEE 5,485,387 YII CHEE SENG 7,120,286 21/3HONG LEONG BANK 534,100 EMPLOYEES PROVIDENT FUND BOARD 250,209,921 19/3IHH HEALTHCARE 1,403,087,400 MITSUI & CO., LTD, JAPAN 2,888,487,400 19/3IHH HEALTHCARE (1,403,087,400) PULAU MEMUTIK VENTURES 2,284,536,356 19/3IHH HEALTHCARE 1,746,400 EMPLOYEES PROVIDENT FUND BOARD 658,872,500 19/3IMASPRO CORPORATION 775,000 YU KUAN CHON 16,773,104 20/3INARI AMERTRON 150,000 EMPLOYEES PROVIDENT FUND BOARD 219,103,445 19/3IOI PROPERTIES GROUP (142,000) EMPLOYEES PROVIDENT FUND BOARD 375,591,032 19/3KEJURUTERAAN ASASTERA 520,000 DATIN CHAN PEY KHENG 1,520,000 20 & 21/3KELINGTON GROUP (2,000,000) PALACE STAR SDN 86,793,490 19/3KIAN JOO CAN FACTORY 55,040,090 CAN-ONE INTERNATIONAL 332,530,759 21/3KUALA LUMPUR KEPONG 90,100 EMPLOYEES PROVIDENT FUND BOARD 118,571,488 19/3MALAYAN BANKING (2,519,700) EMPLOYEES PROVIDENT FUND BOARD 1,412,717,096 19/3MALAYSIA AIRPORTS 1,494,100 EMPLOYEES PROVIDENT FUND BOARD 200,052,492 19/3MAXIS (287,100) EMPLOYEES PROVIDENT FUND BOARD 880,566,314 19/3MERIDIAN (180,000) DATO TEOH SENG KIAN 37,961,324 21/3MISC 1,256,900 EMPLOYEES PROVIDENT FUND BOARD 286,715,411 11 - 15/3MYNEWS (2,048,000) KUMPULAN WANG PERSARAAN 45,679,000 20/3 (DIPERBADANKAN)PAVILION REAL ESTATE 53,500 EMPLOYEES PROVIDENT FUND BOARD 162,176,103 19/3INVESTMENT TRUSTPEGASUS HEIGHTS 30,000,000 TOH HONG CHYE 163,683,946 21/3PETRONAS CHEMICALS GROUP (1,000,000) EMPLOYEES PROVIDENT FUND BOARD 599,340,000 19/3PUBLIC BANK 111,500 EMPLOYEES PROVIDENT FUND BOARD 482,971,100 19/3QL RESOURCES 510,700 EMPLOYEES PROVIDENT FUND BOARD 117,645,460 19/3SIME DARBY 2,000,000 KUMPULAN WANG PERSARAAN 418,136,149 20/3 (DIPERBADANKAN)SIME DARBY (2,341,700) EMPLOYEES PROVIDENT FUND BOARD 706,340,175 18 & 19/3SIME DARBY PLANTATION 578,000 EMPLOYEES PROVIDENT FUND BOARD 956,603,231 19/3SMRT 6,350,000 TAN SRI DATO’ DR PALANIAPPAN 126,867,787 20/3 A/L RAMANATHAN CHETTIARSTRAITS INTER LOGISTICS 900,000 DATO’ SRI HO KAM CHOY 74,790,100 19 & 20/3SUNWAY CONSTRUCTION GROUP 74,300 EMPLOYEES PROVIDENT FUND BOARD 108,309,643 18/3SUNWAY REAL ESTATE 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 452,528,200 19/3INVESTMENT TRUSTSUNWAY REAL ESTATE (66,500) AMANAHRAYA TRUSTEE 166,349,300 20/3INVESTMENT TRUST - AMANAH SAHAM BUMIPUTERA TANCO 226,900 TJN CAPITAL SDN (FORMERLY KNOWN 379,016,075 21/3 AS NAM LEE EQUITIES SDN )TOP GLOVE CORPORATION 3,000,000 EMPLOYEES PROVIDENT FUND BOARD 167,982,601 19/3TSH RESOURCES 698,300 EMPLOYEES PROVIDENT FUND BOARD 97,397,000 19/3UMW (2,789,000) EMPLOYEES PROVIDENT FUND BOARD 118,718,959 13,14,15 18, 19UOA DEVELOPMENT 249,700 EMPLOYEES PROVIDENT FUND BOARD 137,075,100 19/3UZMA 100,000 EMPLOYEES PROVIDENT FUND BOARD 28,923,600 19/3VIZIONE 140,000 DATO’ NG AUN HOOI 84,306,206 21/3WATTA HOLDING (120,000) DATO DR IR MOHD ABDUL KARIM ABDULLAH 5,126,600 21/3YINSON (370,000) EMPLOYEES PROVIDENT FUND BOARD 151,448,600 19/3YTL POWER INTERNATIONAL (238,500) EMPLOYEES PROVIDENT FUND BOARD 394,516,485 19/3

COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION (DISPOSED) SHAREHOLDER AFTER CHANGE DATE

Insider moves (Filings on March 22, 2019)Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook.

Note: Run your fi nger down the left-hand side until you reach the country of origin you plan to exchange. Then move your fi nger until that line intersects with the vertical column of the currency you wish to buy. The fi gure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.

Foreign exchange rates NZ EURO US SWISS BRIT CANADA BRUNEI S’PORE AUST M’SIA CHINA BANGL’H DENM’K UAE INA INDIA JAPAN NORWAY PHIL QATAR SAUDI SWEDEN THAI HK

NZ $ 0.608 0.688 0.684 0.523 0.924 0.929 0.929 0.970 2.8002 4.619 57.958 4.541 2.527 9,753 47.426 75.777 5.873 36.121 2.504 2.580 6.348 21.734 5.400

EURO 1.644 1.131 1.124 0.859 1.519 1.528 1.528 1.594 4.6028 7.592 95.268 7.465 4.154 16,031 77.955 124.558 9.654 59.374 4.117 4.241 10.435 35.725 8.876

US $ 1.453 0.884 0.994 0.759 1.343 1.351 1.351 1.409 4.0700 6.713 84.240 6.601 3.673 14,175 68.932 110.140 8.536 52.501 3.640 3.750 9.227 31.590 7.848

SWISS FR 1.463 0.890 1.006 0.764 1.351 1.359 1.359 1.418 4.0954 6.755 84.766 6.642 3.696 14,264 69.362 110.827 8.589 52.829 3.663 3.774 9.285 31.787 7.897

STERLING £ 1.914 1.164 1.317 1.309 1.768 1.779 1.779 1.856 5.3590 8.839 110.920 8.691 4.836 18,665 90.763 145.022 11.240 69.129 4.793 4.938 12.149 41.595 10.334

CANADA $ 1.082 0.658 0.745 0.740 0.566 1.006 1.006 1.050 3.0308 4.999 62.731 4.915 2.735 10,556 51.331 82.018 6.357 39.096 2.711 2.793 6.871 23.524 5.844

BRUNEI $ 1.076 0.655 0.740 0.736 0.562 0.994 1.000 1.043 3.0128 4.969 62.358 4.886 2.719 10,493 51.026 81.531 6.319 38.864 2.694 2.776 6.830 23.384 5.810

SINGAPORE $ 1.076 0.655 0.740 0.736 0.562 0.994 1.000 1.043 3.0128 4.969 62.358 4.886 2.719 10,493 51.026 81.531 6.319 38.864 2.694 2.776 6.830 23.384 5.810

AUSTRALIA $ 1.031 0.627 0.710 0.705 0.539 0.953 0.958 0.958 2.8877 4.763 59.769 4.683 2.606 10,057 48.908 78.145 6.056 37.250 2.583 2.661 6.547 22.413 5.568

MALAYSIA RM 0.357 0.217 0.246 0.244 0.187 0.330 0.332 0.332 0.346 1.0000 1.649 20.698 1.622 0.902 3,483 16.937 27.061 2.097 12.900 0.894 0.921 2.267 7.762 1.928

100 CHINESE RMB 21.651 13.172 14.896 14.804 11.313 20.004 20.123 20.123 20.995 60.6270 1,255 98.325 54.710 211,156 1,026.811 1,641 127.154 782.062 54.222 55.863 137.445 470.568 116.907

100 BANGLAD’H TAKA 1.725 1.050 1.187 1.180 0.902 1.594 1.604 1.604 1.673 4.8314 7.969 7.836 4.360 16,827 81.828 130.745 10.133 62.323 4.321 4.452 10.953 37.500 9.316

100 DANISH KRONER 22.020 13.396 15.150 15.056 11.506 20.344 20.466 20.466 21.353 61.6600 101.70 1,276 55.642 214,753 1,044.31 1,669 129.32 795.39 55.15 56.82 139.79 478.59 118.90

100 UAE DIRHAM 39.574 24.075 27.227 27.058 20.678 36.563 36.781 36.781 38.375 110.8146 182.78 2,294 179.72 385,952 1,877 2,999 232.41 1,429 99.11 102.11 251.22 860.11 213.68

1000 INA RUPIAH 0.010 0.006 0.007 0.007 0.005 0.009 0.010 0.010 0.010 0.0287 0.047 0.594 0.047 0.026 0.486 0.777 0.060 0.370 0.026 0.026 0.065 0.223 0.055

100 INDIA RUPEE 2.109 1.283 1.451 1.442 1.102 1.948 1.960 1.960 2.045 5.9044 9.739 122.208 9.576 5.328 20,564 159.781 12.383 76.164 5.281 5.440 13.386 45.828 11.385

100 JAPAN YEN 1.320 0.803 0.908 0.902 0.690 1.219 1.227 1.227 1.280 3.6953 6.095 76.485 5.993 3.335 12,870 62.586 7.750 47.668 3.305 3.405 8.377 28.682 7.126

100 NORWEGIAN KRONER 17.027 10.359 11.715 11.642 8.897 15.732 15.826 15.826 16.511 47.6800 78.645 987 77.327 43.027 166,063 807.533 1,290 615.051 42.643 43.934 108.093 370.077 91.942

100 PHILIPPINE PESO 2.768 1.684 1.905 1.893 1.447 2.558 2.573 2.573 2.685 7.7522 12.787 160.453 12.572 6.996 27,000 131.295 209.785 16.259 6.933 7.143 17.575 60.170 14.949

100 QATAR RIYAL 39.930 24.292 27.473 27.302 20.865 36.892 37.113 37.113 38.721 111.8132 184.428 2,314 181.338 100.901 389,430 1,894 3,026 234.508 1,442 103.028 253.487 867.859 215.610

100 SAUDI RIYAL 38.757 23.579 26.665 26.500 20.251 35.808 36.022 36.022 37.583 108.5275 179.009 2,246 176.010 97.936 377,987 1,838 2,937 227.616 1,400 97.061 246.038 842.356 209.274

100 SWEDISH KRONOR 15.752 9.583 10.838 10.771 8.231 14.554 14.641 14.641 15.275 44.1100 72.756 912.980 71.537 39.805 153,629 747.070 1,194 92.513 569.000 39.450 40.644 342.368 85.058

100 THAI BAHT 4.601 2.799 3.166 3.146 2.404 4.251 4.276 4.276 4.462 12.8838 21.251 266.666 20.895 11.626 44,873 218.207 348.654 27.021 166.195 11.523 11.871 29.208 24.844

100 HK$ 18.520 11.267 12.742 12.663 9.677 17.111 17.213 17.213 17.959 51.8590 85.538 1,073.367 84.105 46.798 180,618 878.311 1,403 108.765 668.958 46.380 47.784 117.567 402.513

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

TEKSENG-WA 0.035 0.030 0.030 266.5SOLID 0.290 0.280 0.280 29HENGYUAN-C8 0.110 0.105 0.105 160KLUANG 3.320 3.280 3.300 24.8FBMKLCI-C5P 0.135 0.130 0.130 34.5GCB-CB 0.175 0.170 0.170 249.8TOMYPAK-WA 0.140 0.120 0.130 663GENM-C43 0.035 0.035 0.035 100AEON-CO 0.035 0.030 0.035 161.9TNLOGIS 0.600 0.580 0.600 406.7UCHITEC-CF 0.095 0.095 0.095 599.8ILB 0.395 0.390 0.395 12.2AMBANK-C13 0.085 0.085 0.085 465.6OSKVI 0.470 0.440 0.470 11.9POS-C33 0.105 0.100 0.100 230PLB 1.140 1.070 1.140 4.7SUPERMX-C59 0.055 0.050 0.050 89.8GCB-CC 0.135 0.135 0.135 799.8MAYBANKC43 0.075 0.045 0.045 350POS-C31 0.075 0.070 0.070 782.5AIRPORT-C6 0.075 0.070 0.075 100AIRPORT-C7 0.070 0.040 0.060 2274.1AIRPORT 7.600 6.900 7.330 7745.2PBBANK-C31 0.120 0.115 0.115 6902.8A50CHIN-C38 0.205 0.175 0.180 12541GENTINGC64 0.070 0.070 0.070 100XDL 0.100 0.090 0.100 19595.5

This table shows stocks that are trading near their year low. This could suggest a build-up in selling momentum, or the possibility that bargain hunting could set in later.

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

MBL 1.250 1.200 1.240 123.4FBMKLCI-H6T 0.120 0.115 0.120 66KOMARK 0.290 0.245 0.275 11108.4A50CHIN-H29 0.450 0.405 0.445 25983.2FBMKLCI-H6W 0.165 0.165 0.165 32KIPREIT 0.875 0.865 0.870 206.9MYEG-C56 0.405 0.395 0.400 127.5GCB-CE 0.145 0.145 0.145 43CARLSBG 26.600 25.820 26.500 340.1MYEG-C61 0.145 0.130 0.130 3912.6MYEG-C60 0.255 0.235 0.235 7.5BTECH 0.365 0.350 0.360 2534.2FBMKLCI-H6X 0.140 0.135 0.135 80GAMUDA-C64 0.085 0.085 0.085 134.8VC 0.170 0.155 0.170 1987.7STRAITS-WA 0.180 0.170 0.175 10808.4BAT-CO 0.080 0.075 0.075 0.4ORION 0.230 0.205 0.210 60984.5ORION-WA 0.145 0.115 0.135 29261.9KERJAYA-CK 0.065 0.065 0.065 500ECOWLD-CT 0.150 0.150 0.150 100

This table shows stocks that are trading near their year high. This could suggest a build-up in buying momentum, or the possibility that profi t-taking activities could set in later.

Trading themes

Stocks closest to year high Stocks closest to year low

China commodity import data

• Wong Engineering Corp Bhd’s annual general meeting at Lot 204, Auditorium Room, Level 1, Jalan Bukit Belimbing 26/38, off Persiaran Tengku Ampuan, Lion Industrial Park Seksyen 26, Shah Alam, Selangor at 9.30am.

MarketsF U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S

3 1


Index futures

FUTURES FAIR VALUECONTRACT DAYS TO EXPIRY KLIBOR DIVIDEND FAIR VALUE

FUTURES ROLL OVER BID OFFER CLOSE

MAR/APR 3.0 2.0 2.5

INDEX AND FUTURES OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

Money market

Commodities

APR/MAY -46APR/JUN -78APR/JUL -116MAY/JUN -32

CPO FUTURES INDICATIVE ROLL-OVER

CPO/SOYOIL FUTURES BASIS (USD)CURRENT -106.693 MONTHS AVERAGE -109.676 MONTHS AVERAGE -110.43

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

APR-19 2,062 -28 477 4,595 -32MAY-19 2,109 -25 1,892 29,942 -361JUN-19 2,140 -27 11,800 66,609 199JUL-19 2,179 -27 3,696 49,532 -87AUG-19 2,197 -27 1,025 22,833 363

Palm oil follows other edible oils to hit three-day low

CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.

Oil prices steady amid worries of severe economic slowdown

METAL & PRECIOUS METALSTIN US$/TON KLTM 21,230 -70COPPER USC/IBS CMX 2.8525 0.0100GOLD US$/TROY OZ CMX 1,317.00 4.70PLATINUM US$/TROY OZ NYMEX 848.00 -1.70PALLADIUM US$/TROY OZ NYMEX 1,507.30 -8.20SILVER USC/TROY OZ CMX 15.45 0.09ALUMINIUM RMB/TON SHF 13,685 -100ZINC RMB/TON SHF 21,440 -215

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 58.96 -0.08HEATING OIL USC/GAL NYMEX 1.9620 -0.0048NATURAL GAS US$/MMBTU NYMEX 2.754 -0.013BRENT CRUDE US$/BBL ICE 66.91 -0.12GAS OIL US$/TON ICE 602.00 4.75

CRUDE PALM OIL RM/TON MDEX 2,140 -27RUBBER SEN/KG MRB 593.50 -3.50CORN USC/BSH CBOT 378.50 0.25SOYBEANS USC/BSH CBOT 905.50 1.75WHEAT USC/BSH CBOT 464.25 -1.75LIVE CATTLE USC/IBS CME 123.50 -0.40COCOA US$/TON NYBOT 2,164 -6COFFEE USC/IBS NYBOT 95.55 -1.10SUGAR USC/IBS NYBOT 12.66 -0.08COTTON USC/IBS NYC 76.58 UNCH

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Mar 25, 2019

200

625

1050

1475

1900

593.50(-3.50)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

1 - 10TH DAYS1 - 15TH DAYS1 - 20TH DAYS1 - 25TH DAYSFULL MONTH

JAN’19 FEB’19 MAR’19

466/458 392/407 412/453 647/607 674/686 697/677 963/930 918/930 925/909 1,208/1,213 1,122/1,139 1,261/1,158 1,454/1,471 1,232/1,258 —/—

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1200

1395

1590

1785

1980 1,645.00(-12.00)

Mar 25, 2019

Klibor

Implied interest rate (%)

Oct 1, 2000

3.60(Unch)

Mar 25, 20191.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

486.00(-1.50)

Mar 25, 2019

300

500

700

900

1100

CPO futures

FBM KLCI futures

APR9 96.40 — — —MAY9 96.40 — — —JUN9 96.40 — — —SEP9 96.40 — — —DEC9 96.40 — — —MAR0 96.40 — — —JUN0 96.40 — — —SEP0 96.40 — — —DEC0 96.40 — — —MAR1 96.40 — — —JUN1 96.40 — — —SEP1 96.40 — — —DEC1 96.40 — — —MAR2 96.40 — — —JUN2 96.40 — — —SEP2 96.40 — — —DEC2 96.40 — — —MAR3 96.40 — — —JUN3 96.40 — — —SEP3 96.40 — — —JAN-00 — — — —JAN-00 — — — —TOTAL 0 0

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil futures fell to their lowest in three days yesterday, tracking weaker related edible oils. The benchmark palm oil contract for June delivery on Bursa Malaysia Derivatives closed 1.3% lower at RM2,140 a tonne in its sharpest daily decline since March 14. It earlier fell to a three-day low of RM2,133. “Weak external markets weighed on palm oil. Th e market was also earlier overbought, so now it is seeing a pullback,” said a trader. “While exports should be steady, overall production for March should be up slightly.” Gains in production would add to current stockpiles, which unexpectedly rose 1.3% to 3.05 million tonnes in February, industry regulator the Malaysian Palm Oil Board said earlier this month. Palm oil may test a support at RM2,142 per tonne, a break below which could cause a loss to the next support at RM2,094, Wang Tao, a Reuters market analyst for commodities and energy technicals, said. In other related oils, the US Chicago Board of Trade May soybean oil contract eased 0.2%, after 1.5% drop last Friday. Soybean had fallen on worries over demand for ample US supplies as Brazilian farmers are harvesting a bumper crop. Meanwhile, the May soyoil contract on the China’s Dalian Commodity Exchange (DCE) declined 1.2% and the DCE May palm oil contract fell 1.1%. — Reuters

NOV’18 DEC’18 JAN’19 FEB’19

1,845 1,808 1,737 1,545 1,375 1,383 1,676 1,321 3,007 3,215 3,001 3,045

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 370 19.00% 352 18.00% 334SOUTH 20.00% 400 19.00% 380 18.00% 361CENTRAL 20.00% 373 19.00% 355 18.00% 336EAST COAST 20.00% 369 19.00% 351 18.00% 333331SARAWAK 22.00% 370 21.00% 353 20.00% 336

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) MAR’19 APR’19 MAY’19

CPO DELD 1,855.00 1,980.00 NO TRADEPK EX-MILL 1,188.00 NO TRADE NO TRADECPKO DELD NO TRADE 2,422.00 NO TRADERBD P.OIL FOB NO TRADE NO TRADE NO TRADERBD P.OLEIN FOB NO TRADE NO TRADE NO TRADERBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE

MPOB palm oil physical

Oil prices were steady yesterday, with concerns of a sharp economic slowdown competing with support from tighter supply due to Opec’s production cutbacks and US sanctions on Iran and Venezuela. Brent crude was down 12 US cents or 0.1% to US$66.91 per barrel, while US crude was eight US cents lower to US$58.96 per barrel. Both crude oil price benchmarks closed down on the week since briefl y hitting their highest since November 2018. Concerns about a potential US recession emerged last Friday after cautious remarks by the US Federal Reserve caused 10-year treasury yields to slip below the three-month rate for the fi rst time since 2007. Historically, an inverted yield curve — where long-term rates fall below short-term — has signalled an upcoming recession. — Reuters

Commodities

shares slumped to a near one-month low.— Agencies

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Mar 25, 2019

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(-27)2,140

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Mar 25, 2019

0.2906(RM2,606/tonne)

2,140(-27) 0.000

0.175

0.350

0.525

1100

2425

3750

5075

6400 0.700

Th e yen held near six-week highs against the US dollar yesterday as fears of economic recession, fanned by inversion of the US bond yield curve, sapped demand for higher-yield, growth-reliant assets and drove investors toward “safe” destinations. Attention is focused heavily on the state of world growth after the US Federal Reserve turned tail on raising interest rates, lacklustre Chinese data and a danger of a chaotic Brexit that would hit the British and European economies. With US 10-year yields now almost two basis points below three month yields — a classic recession signal — equities have retreated, while the yen and gold prices are up. Th e yen traded as high as 109.70 against the greenback but eased to trade around fl at by 740 GMT. — Reuters

US dollar undermined by US yield curveball, yen lifted

Th e FBM KLCI futures contracts on Bursa Malaysia Derivatives closed easier yesterday, tracking the performance of the underlying cash market. Spot months March 2019 and September 2019 declined 12 points to 1,645 and 1,640.5 respectively. Meanwhile, April 2019 eased 12.5 points to 1,647.5 and June 2019 was 13.5 points easier at 1,643. Turnover slipped to 11,206 lots from 31,198 lots last Friday and open interest increased to 33,879 contracts from 8,254 contracts. Th e underlying benchmark KLCI closed 17.51 points lower at 1,649.15. Southeast Asian stock markets ended lower yesterday with cautious investors across the globe opting for safe-haven bonds as risk assets were rattled by fears of an impending US recession, while Vietnam

KLCI futures close easier, tracking weaker cash market

Crude Oil

US$/bbl

Apr 10, 2007 Mac 25, 2019

58.96(-0.08)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Mac 25, 2019

700

1020

1340

1660

1980

1,317.00(+4.70)

Long Rolls - KLCI futures

Index points

Jan 4, 2010

2.50(-0.50)

Mar 25, 2019

-35.00

-21.75

-8.50

4.75

18.00

US Dollar

USD Index

Oct 2, 2006

71.0

79.5

88.0

96.5

105.0

96.619(-0.032)

Mac 25, 2019

FBMKLCI 1,649.15 -17.51 99.1M MAR 19 1,645.00 -12.00 8,156 28,868 -638APR 19 1,647.50 -12.50 2,903 4,300 370JUN 19 1,643.00 -13.50 82 421 -14SEP 19 1,640.50 -12.00 65 290 11TOTAL 11,206 33,879 -271

MAR 19 5 0.63 2.90 -2.27APR 19 37 5.64 3.13 2.51ROLL’S FAIR 4.78


Markets Y O U R D A I L Y F I N A N C I A L M A R K E T S R O U N D U P

RESEARCH: TAI TS [[email protected]]

CONTRACT SETTLEMENT CHANGE HIGH LOW

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)PPB GROUP 0.40 0.180 17.920 347.6HONG LEONG BANK -0.34 -0.100 20.300 934.6GENTING -0.36 -0.060 6.860 2392.0IHH HEALTHCARE -0.41 -0.030 5.790 1303.9PETRONAS GAS -0.49 -0.160 17.700 330.6NESTLE MALAYSIA -0.54 -1.500 144.700 99.1GENTING MALAYSIA -0.55 -0.060 3.320 4479.4PUBLIC BANK -0.60 -0.100 23.760 3490.1DIGI.COM -0.84 -0.070 4.580 1141.8MALAYSIA AIRPORT -0.92 -0.360 7.330 7745.2HONG LEONG FINANCIAL -0.96 -0.540 18.920 307.0MAYBANK -1.03 -0.060 9.230 8178.6TENAGA NASIONAL -1.06 -0.120 12.760 2113.8CIMB GROUP -1.33 -0.090 5.120 13937.3PRESS METAL -1.37 -0.220 4.500 2681.5MAXIS -2.18 -0.180 5.380 1178.0SUB-TOTAL -12.57 OTHERS -4.94 GRAND TOTAL -17.51

1,652.00 1,640.00 1,654.50 1,643.00 1,649.00 1,641.50

Market movers

DOW JONES 25,502.32 -460.19S&P 500 2,800.71 -54.17NASDAQ 100 7,326.06 -167.21FTSE 100 7,207.59 -147.72AUSTRALIA 6,126.20 -69.00CHINA 3,043.03 -61.12HONG KONG 28,523.35 -590.01INDIA 37,808.91 -355.70

INDONESIA 6,411.25 -114.02JAPAN 20,977.11 -650.23KOREA 2,144.86 -42.09PHILIPPINES 7,863.02 -150.40SINGAPORE 3,182.92 -29.18TAIWAN 10,479.48 -159.59THAILAND 1,625.91 -20.38VIETNAM 970.07 -18.64

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

ALLIANZ 14.500 0.200UTDPLT 27.360 0.200GENP 10.600 0.200PPB 17.920 0.180SHANG 5.730 0.130SP500-HI 0.855 0.100AMWAY 6.000 0.080LEBTECH 0.830 0.075UMCCA 5.400 0.070 QL 7.000 0.070HSI-H6G 0.480 0.065A50CHIN-H29 0.445 0.065

NESTLE 144.700 -1.500HLFG 18.920 -0.540DLADY 63.680 -0.420F&N 34.400 -0.400AIRPORT 7.330 -0.360HSI-C3X 0.745 -0.265HSI-C3W 0.190 -0.230PMETAL 4.500 -0.220PMETAL-WC 4.060 -0.220HEIM 22.780 -0.200BAT 35.280 -0.200HENGYUAN 5.790 -0.200

Top gainers and losers (ranked by RM)

DAYA 0.010 100.00HSI-H6B 0.040 60.00NEXGRAM 0.020 33.33TRIVE 0.020 33.33HSI-H6A 0.020 33.33AHB-WB 0.020 33.33HSI-H6C 0.090 28.57PHB 0.025 25.00TROP-WA 0.025 25.00OCR-PA 0.025 25.00A50CHIN-H27 0.080 23.08SWSCAP-WB 0.080 23.08

A50CHIN-C22 0.055 -74.42KERJAYA-CK 0.065 -56.67HSI-C3W 0.190 -54.76VIVOCOM-WE 0.005 -50.00HSI-C3V 0.005 -90.00MENANG-WB 0.005 -50.00SAPNRGC71 0.005 -50.00GAMUDA-C64 0.085 -43.33MAYBANKC43 0.045 -40.00PMETAL-C15 0.055 -38.89AIRPORT-C6 0.075 -37.50GAMUDA-C57 0.030 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by%age)

FBM KLCI & KLCI futures intraday

Daily FBM KLCI

FBM KLCI sensitivity*

FBM KLCI futures

HSI-H6B 0.040 60.00HSI-H6A 0.020 33.33AHB-WB 0.020 33.33HSI-H6C 0.090 28.57TROP-WA 0.025 25.00OCR-PA 0.025 25.00A50CHIN-H27 0.080 23.08SWSCAP-WB 0.080 23.08HSI-H6M 0.190 22.58SOLUTN-WA 0.030 20.00FBMKLCI-C5W 0.030 20.00HSI-H6N 0.315 18.87

A50CHIN-C22 0.055 -74.42KERJAYA-CK 0.065 -56.67HSI-C3W 0.190 -54.76VIVOCOM-WE 0.005 -50.00HSI-C3V 0.005 -90.00MENANG-WB 0.005 -50.00SAPNRGC71 0.005 -50.00GAMUDA-C64 0.085 -43.33MAYBANKC43 0.045 -40.00PMETAL-C15 0.055 -38.89AIRPORT-C6 0.075 -37.50GAMUDA-C57 0.030 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by%age)

MTRONIC-OR 159,354 0.00 0.000 0.005 0.010 0.005SAPNRG-WA 156,636 0.00 0.000 0.145 0.155 0.140HSI-C5D 59,324 -27.94 -0.095 0.245 0.270 0.235HSI-C5A 50,699 -28.21 -0.110 0.280 0.305 0.260HSI-H6F 40,545 18.18 0.040 0.260 0.280 0.245ORION-WA 29,262 8.00 0.010 0.135 0.145 0.115A50CHIN-H29 25,983 17.11 0.065 0.445 0.450 0.405MYEG-C55 23,346 -11.54 -0.015 0.115 0.130 0.115HSI-H6G 21,074 15.66 0.065 0.480 0.500 0.455HSI-C3Z 17,812 -35.29 -0.060 0.110 0.130 0.100HSI-C3V 13,968 -90.00 -0.045 0.005 0.025 0.005A50CHIN-C38 12,541 -21.74 -0.050 0.180 0.205 0.175STRAITS-WA 10,808 2.94 0.005 0.175 0.180 0.170HSI-H6C 10,574 28.57 0.020 0.090 0.100 0.080GBGAQRS-WB 10,524 -1.56 -0.005 0.315 0.315 0.305SAPNRGC76 9,119 -5.88 -0.005 0.080 0.090 0.080

STOCK VOLUME CHANGE CHANGE CLOSE HIGH LOW ('000) (%) (RM) (RM) (RM) (RM)

Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares traded for a particular counter on the previous trading day is more than triple the average volume for the last 5 trading days. The table captures the build-up of interest in these companies and is thus a gauge of market expectations for these counters.

UNUSUAL MARKET ACTIVITIES

* How stock price changes affected the index on the previous trading day

Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008 Mar 25, 2019

1,649.15(-17.51)

1,684.29

820.0

1122.5

1425.0

1727.5

2030.0

0

300

600

900

1641.0

1642.4

1643.8

1645.2

1646.6

1648.0

1649.4

1650.8

1652.2

1653.6

1655.0

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures 1,645.00(-12.00)

1,649.15(-17.51)

MAR 19 1,645.00 -12.00APR 19 1,647.50 -12.50JUN 19 1,643.00 -13.50

Fiction reveals truths that reality obscures.— Jessamyn West

SAPNRG 357,874.3 UNCH UNCH 0.345 — 2.44MTRONIC-OR 159,353.6 UNCH UNCH 0.005 — 0.00SAPNRG-WA 156,636.3 UNCH UNCH 0.145 — 0.00MYEG 80,289.9 -0.060 -4.32 1.330 63.18 1.22ARMADA 72,090.1 0.010 5.41 0.195 — 1.07ORION 60,984.5 -0.005 -2.33 0.210 — 0.00HSI-C5D 59,323.9 -0.015 -5.77 0.245 — 0.00DAYANG 55,855.6 0.020 1.50 1.350 7.81 0.00HSI-C5A 50,699.1 -0.005 -1.75 0.280 — 0.00PUC 47,202.5 UNCH UNCH 0.095 23.17 0.00HIBISCS 43,867.8 -0.050 -4.55 1.050 5.26 0.00HSI-H6F 40,544.7 0.005 1.96 0.260 — 0.00IRIS 39,696.4 0.005 3.57 0.145 — 0.00SEACERA 38,977.2 -0.020 -5.56 0.340 — 0.00BJCORP 33,925.6 UNCH UNCH 0.265 — 0.00JAG 29,477.2 UNCH UNCH 0.050 38.46 3.80ORION-WA 29,261.9 0.010 8.00 0.135 — 0.00VSOLAR 28,264.4 -0.020 -8.33 0.220 — 0.00A50CHIN-H29 25,983.2 0.020 4.71 0.445 — 0.00HUAAN 24,355.0 UNCH UNCH 0.255 9.66 0.00

1,649.15 17.51 4,743.29 71.50 3,182.92 29.18 20,977.11 650.23 28,523.35 590.01 25,502.32 460.191,649.15 17.51 4,743.29 71.50 3,182.92 29.18 20,977.11 650.23 28,523.35 590.01 25,502.32 460.19KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES1,649.15 17.51 4,743.29 71.50 3,182.92 29.18 20,977.11 650.23 28,523.35 590.01 1,649.15 17.51 4,743.29 71.50 3,182.92 29.18 20,977.11 650.23 28,523.35 590.01

KUALA LUMPUR: Th e FBM KLCI declined 17.05 points or 1.05% to 1,649.15 yesterday, mainly as investors became increasingly concerned about the US economy’s outlook and its trade negotiations with China. Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the Malaysian market is expected to remain under pressure for the entire week ahead. “Th e market is getting volatile now, and our advice to investors is to take profit from some of their small capitalisation exposure and stay [on the] sidelines for the near term, at least for this week,” he said. “Although we don’t see major concerns from the domestic market, except for political risks, we are expecting a bearish week ahead. Th e only silver lining is if China and US come to an agreement on their trade deal,” he added. Reuters reported that Southeast Asian stock markets fell yesterday in line with broader Asia, as investors sought refuge in safer assets on US recession worries, with Philippines taking the worst hit. Th e news agency added that stocks around the world were under pressure as investors fl ed to the safety of bonds after cautious remarks by the US Federal Reserve last week on the cooling economy sent the 10-year treasury yields below the three-month rate for the fi rst time since 2007, embedding interest rate curve inversion. — by Chester Tay

KLCI falls on investors concern about the US-China talks

F U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S PA G E 3 1

I N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X PA G E 3 0

G L O BA L M A R K E T S PA G E 2 9

M A I N M A R K E T . A C E M A R K E T L I ST I N G PA G E 2 5

Documents

TUESDAY MARCH 26, 2019 ISSUE 2855/2019 FINANCIAL DAILY · Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia Publisher and Group CEO Ho Kay Tat EDITORIAL For News Tips/Press