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TUESDAY OCTOBER 6, 2015 ISSUE 2019/2015
FINANCIAL
DAILY
MAKE
BETTER
DECISIONS
How
to play
Asean’s
sagging
markets
Lee Kai Yang
21 F O C U S
www.theedgemarkets.com
3 HOME BUSINESS
M’sia to see slower
growth, lower public
revenue this year
LANDMARK TPP DEAL
REACHED
6 HOME BUSINESS
Red Bull to energise
Yee Lee’s beverage
earnings
Fight for approval
to follow as deal
strengthens Obama’s
Asia strategy.
Story on Page 2.
7 HOME BUSINESS
Khazanah in no
rush to sell Bank
Muamalat stake
8 HOME BUSINESS
Malaysia
GLCs urged to build
more aff
ffordable
housing
Japan
Vietnam
Brunei
Prices of Toyota, Lexus
to increase up to 16%
from January 2016
10 P R O P E R T Y S N A P S H O T
Canada
Australia
US
Mexico
PACIFIC
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Chile
Sing
Singapore
gapore
New
ew Zealand
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by
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This digi
Source: USTR
Nazir: Going beyond economics
16 H O M E
Umno monitoring
seven leaders for
possible action
To spur innovation and creative disruption
4 HOME BUSINESS
FBM KLCI 1647.59
18.79
KLCI FUTURES 1639.00
36.50
STI 2851.25
58.10
RM/USD 4.3800
CPO RM2416.00
28.00
OIL US$48.66
0.53
GOLD US$1132.30
4.40
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.60 (INCLUSIVE OF 6% GST)
TUESDAY OCTOBER 6, 2015 ISSUE 2019/2015
FINANCIAL
DAILY
MAKE
BETTER
DECISIONS
How
to play
Asean’s
sagging
markets
Lee Kai Yang
21 F O C U S
www.theedgemarkets.com
3 HOME BUSINESS
M’sia to see slower
growth, lower public
revenue this year
6 HOME BUSINESS
Red Bull to energise
Yee Lee’s beverage
earnings
7 HOME BUSINESS
Khazanah in no
rush to sell Bank
Muamalat stake
8 HOME BUSINESS
LANDMARK TPP DEAL
REACHED
Fight for approval
to follow as deal
strengthens Obama’s
Asia strategy.
Story on Page 2.
GLCs urged to build
more affordable
housing
Japan
Vietnam
Brunei
Prices of Toyota, Lexus
to increase up to 16%
from January 2016
10 P R O P E R T Y S N A P S H O T
Canada
Malaysia
Australia
US
Mexico
PACIFIC
OCEAN
Peru
Chile
Singapore
New Zealand
Source: USTR
Nazir: Going beyond economics
16 H O M E
Umno monitoring
seven leaders for
possible action
To spur innovation and creative disruption
4 HOME BUSINESS
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
2
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Putrajaya:
Selangor water
restructuring
flowing
smoothly
Greater focus,
right policies
needed for
Asean Power
Grid
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Landmark TPP
deal reached
Fight for approval to follow as deal strengthens Obama’s Asia strategy
BY TOLUSE OLORUNNIPA
& M IKE DORNI NG
WASHINGTON: Pacific trade ministers have reached a deal on the most
sweeping trade liberalisation pact
in a generation that will cut trade
barriers and set common standards
for 12 countries, an official familiar
with the talks said yesterday.
A Bloomberg report says the
12-nation Pacific trade deal cements President Barack Obama’s
strategic pivot toward Asia and
challenges China to accept USbacked rules for doing business.
A trading bloc stretching from
Chile to Japan, with the US at the
economic centre, bolsters Obama’s
effort to counter growing Chinese
military and economic influence
in the Pacific.
The agreement, reached yesterday in Atlanta, Georgia also strengthens the president’s diplomatic hand
as he travels to Asia next month for
meetings with regional leaders.
More than that, the deal means
the US now has closer trading partners — and closer friends — in the
region.
That may force China to live up
to the deal’s standards or else be
cut from some of the resulting economic growth.
If ratified, the Trans-Pacific Partnership (TPP) would be the largest
pact governing international commerce in more than two decades,
encompassing 40% of the world’s
economic output. The deal would set
new precedents for breaking down
subtle, politically entrenched barriers to trade and would reinvigorate
an expansion of global commerce.
The trade pact would eliminate
more than 18,000 taxes on US products and includes enforceable labour and environmental standards,
Obama said in a statement.
“When more than 95% of our potential customers live outside our
borders, we can’t let countries like
China write the rules of the global
economy,” Obama said.
Xi’s moves
“The US is back in the driver’s seat
with trade in a way that it hasn’t been
for more than two decades,” said
Edward Alden, a senior fellow at
the Council on Foreign Relations in
Washington. “It really does reassert a
IN BRIEF
Fed odds drop to 8%
for October
SINGAPORE: The bond market
shows traders see only an 8%
chance the US Federal Reserve
will raise interest rates at its
Oct 27 to 28 meeting following
weaker-than-expected employment growth. Bloomberg View
columnist and the chief economic adviser at Allianz SE,
Mohamed A El-Erian says the
odds are 50% for the next session Dec 15 to 16. US 10-year
yields were below 2% as investors pushed back forecasts for
the move, highlighting the lack
of consensus over when officials will shift policy. Data yesterday was due to show growth
in services slowed, based on
a Bloomberg survey of economists. — Bloomberg
‘Probe into Kevin Morais’
murder complete’
Akira Amari (centre), Japanese minister in charge of the TPP talks, announcing on
Sunday, in Atlanta that the countries involved in the negotiations were set to announce
a landmark deal. Photo by Bloomberg
strong US role in the trading system.”
China remains the world’s second-largest economy and its role as
Asia’s dominant commercial force
will not diminish, despite a slowdown in growth that has roiled its
financial markets this year.
President Xi Jinping has moved
to enhance his nation’s economic
influence, including by establishing
the Asian Infrastructure Investment
Bank, which has attracted participation from more than 50 countries.
While China is not a party to the
TPP, the participation of so many
of its trading partners and neighbours — including Japan, Malaysia
and Vietnam — raises pressure on
Xi and his government to accept
its standards.
Chinese studying
“The Chinese are studying very carefully the pros and cons of participation in TPP,” said Jeffrey Schott,
senior fellow at the Peterson Institute for International Economics
and a former US trade negotiator.
A shift in US strategic focus toward Asia has been a centrepiece of
Obama’s foreign policy. His administration considered the TPP trade
pact critical to that strategy; Defence
Secretary Ashton Carter even said
he would prefer the agreement over
another aircraft carrier in the Pacific.
Labour loses
Domestically, the TPP deal confirms
the triumph of free-trade supporters over labour unions and critics of
globalisation within the Democratic
party in the US. Obama becomes the
second Democratic president in a
row to achieve a major free-trade
deal in his presidency. President
Bill Clinton oversaw ratification
of the 1993 North American Free
Trade Agreement (Nafta) and the
Uruguay Round international trade
agreement in 1994.
Obama has cast the TPP deal partly as a rewrite of Nafta, which has
been blamed by many Democrats for
an erosion of US manufacturing jobs.
Nafta participants Mexico and Canada are also parties to the Asia-Pacific
deal, whose terms would supersede
the earlier pact if it is enacted.
China visit
Negotiations on the pact were completed just more than a week after
Xi travelled to the White House
for a state visit that underscored
points of contention between the
world’s two largest economies. The
US and China have found themselves increasingly at odds over
cyberespionage, territorial disputes
in the South China Sea, currency
manipulation and labour practices.
The influence of the new trade
bloc may grow as other Pacific Rim
nations seek to join, with South
Korea likely among the first.
‘Fierce’ opposition
Under the fast-track legislation Obama signed in June, Congress will have
at least 90 days to review the deal.
That means up-or-down votes will
not take place until 2016, just as the
first primary election votes loom.
The signing rounds out a
12-month period in which Obama has won a nuclear deal with
Iran, ended a half-century-long
US effort to isolate Cuba, reached
a climate-change agreement with
China and hosted Pope Francis at
the White House. — Bloomberg
KUALA LUMPUR: The police
have completed investigations
into the murder of senior deputy public prosecutor Anthony
Kevin Morais whose body was
found in a drum in Subang Jaya
last month. This follows the arrest of eight suspects who were
charged in court in connection
with the killing of the 55-yearold Attorney-General’s Chambers’ Appellate and Trial Division deputy chief. Kuala Lumpur
police chief Datuk Tajuddin Md
Isa said when contacted yesterday that investigations have
been completed. — Bernama
Former AG retires, minus
ceremonial clock out
PUTRAJAYA: Former attorney-general (AG) Tan Sri Abdul
Gani Patail retired yesterday
from the judicial and legal service after a career spanning 35
years. Abdul Gani turns 60 today, the mandatory retirement
age for civil servants. An AG’s
Chambers official said Abdul
Gani did not do the symbolic
clock out as top civil servants
normally do upon retirement.
He had been on leave since
July 27 prior to his retirement.
— The Malaysian Insider
MIC to hold AGM
on Nov 6-7
KUALA LUMPUR: After facing an internal crisis for 10
months, the MIC will finally
hold its 68th annual general
meeting (AGM) on Nov 6 and
7. Its president Datuk Seri Dr
S Subramaniam on his Facebook page said the AGM would
be opened by Prime Minister
Datuk Seri Najib Razak at the
Malaysia Agro Exposition Park
Serdang near here. — Bernama
OECD reveals plan for tax clampdown on multinationals
PARIS: The world’s advanced
economies announced yesterday
a long-awaited plan to close the
loopholes on tax-avoiding multinationals that cost countries more
than US$100 billion (RM437 billion)
a year, declaring: “Playtime is over.”
Low tax bills for big names such
as Google and McDonald’s, which
managed to sharply reduce the
amount due while remaining within the law, have provoked public
outrage in recent years.
Now, the wealthy nations’ policy
advisory group, the Organisation
for Economic Co-operation and
Development, has revealed its final recommendations: a 15-point
plan to prevent firms from exploiting different countries’ tax rules.
“Playtime is over,” Pascal SaintAmans, who supervised the drawing up of the so-called Base Erosion
and Profit Shifting plan, said.
Companies will find it harder
and harder to game national tax
systems, Saint-Amans predicted.
“Today, there are wide open roads.
Tomorrow, those who want to bypass their taxes will have to do so
undercover. We are covering the
ground with radars,” he said. — AFP
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
HOME BUSINESS 3
M’sia to see slower
growth, lower public
revenue this year
Due to weaker commodity prices, says new World Bank report
BY Y I MI E YONG
KUALA LUMPUR: Malaysia, together with other commodity exporters
such as Indonesia and Mongolia, is
expected to see slower growth and
lower public revenue this year due to
weaker commodity prices, according
to a new report by World Bank.
On the other hand, commodity
importers will maintain a stable —
even robust — pace of growth, it said.
The East Asia Pacific Economic
Update report stated that Vietnam,
for example, is forecast to grow 6.2%
in 2015 and 6.3% in 2016.
On the whole, East Asia is expected to grow 6.5% in 2015, moderating
slightly from 6.8% last year, and remains one of the main growth drivers
of the world economy, accounting
for nearly two-fifths of global growth.
Performance trends across the region, however, are diverse, said the
World Bank in a statement yesterday.
“China’s economy is expected
to grow at about 7% this year and
gradually moderate thereafter, as its
economy continues to shift toward
a model more dominated by domestic consumption and services,
which implies a gradual reduction
of growth,” it said.
The rest of developing East Asia
is expected to grow at 4.6% in 2015,
similar to last year’s rate.
While the recovery in high-income
economies remains gradual, global
trade has been growing at its slowest
pace since 2009, the report noted,
and the widespread slowdown in
developing countries has intensified,
particularly in commodity producers
affected by lower commodity prices.
Growth will also ease in many
smaller economies like Myanmar,
where severe flooding will likely
drive down the pace of its growth
to 6.5% from 8.5% in 2014.
World Bank chief economist for
East Asia and Pacific region Sudhir
Shetty said developing East Asia’s
growth is expected to slow because
of China’s economic rebalancing and
the pace of the expected normalisation of US policy interest rates.
“These factors could generate financial volatility in the short term,
but are necessary adjustments for
sustainable growth in the long
term,” he added.
The report assumed a gradual
slowdown in the Chinese economy
from 2016 to 2017 — which it sees as
likely because China has sufficient
policy buffers and tools to address
the risk of a more pronounced slowdown, besides the state’s dominant
role in the financial system — and
a gradual increase in US interest
rates in the coming months. The
latter could see markets reacting
sharply to such tightening, causing currencies to depreciate, bond
spreads to rise, capital inflows to
fall, and liquidity to tighten.
In the face of these possible
headwinds, the report emphasised
two key priorities in the region: prudent macroeconomic management,
aimed at shoring up external and
fiscal vulnerabilities; and deeper structural reforms, focused on
encouraging private investment.
Jobstreet to sell remainder of
Cinderella stake for RM9.98m gain
BY SA NGEETHA A MARTHALINGAM
GEORGE TOWN: Jobstreet Corp Bhd
has accepted a mandatory unconditional cash offer of HK$2.038 per
share or HK$29.43 million (RM16.58
million) in total for its remaining
4.33% stake or 14.439 million shares
in Hong Kong-based Cinderella Media Group Ltd (CMGL).
The disposal of interest in the advertising firm is expected to net Jobstreet an estimated gain of RM9.98
million, its filing with Bursa Malaysia
yesterday showed. Jobstreet said the
offer exercise, currently pending the
receipt of proceeds from the offer,
provided it a timely opportunity to
dispose of its shareholding in CMGL
at a substantial gain.
The offer came after CMGL inked
a sale and purchase agreement (SPA)
with Upsky Global Ltd, Metro Victory
Holdings Ltd and Polaris Investment
Management Ltd (the joint offerors)
on June 1 to sell a 55% equity interest in CMGL for HK$374.2 million.
“Upon completion of the SPA,
the joint offerors are required
under the Hong Kong Code on
Takeovers and Mergers to make
a mandatory unconditional cash
offer to acquire all the shares in
CMGL, other than those already
owned,” Jobstreet explained.
Jobstreet invested in CMGL in
April 2008 at an original cost of
RM11.63 million for 26.25 million
shares. Between August 2014 and
June 2015, Jobstreet disposed of 11.8
million shares in CMGL for approximately RM10.13 million, it said.
Based on the latest audited consolidated financial statements as
at Dec 31, 2014, and the assumption that the offer acceptance has
been effected on that date, Jobstreet expects the gain of RM9.98
million to translate into earnings
per share of 1.48 sen (excluding
treasury shares).
StanChart: August’s trade surplus to rise
BY C Y NTHI A B L EMI N
KUALA LUMPUR: Malaysia’s exports
in August were expected to have risen
5.8% year-on-year (y-o-y), more than
3.5% y-o-y in July, helped by weaker
currency exchange rates, said Standard Chartered Global Research.
Malaysia is due to release its
August trade data tomorrow.
In a statement yesterday, Standard
Chartered Global Research said im-
ports were also likely to have grown
2.2% y-o-y in August as improving
electronics exports likely required
more intermediate goods imports.
“We expect the trade surplus to
have increased to RM6.2 billion
in August from RM2.4 billion in
July,” it said.
Standard Chartered Global Research noted that export volumes
had been positive on a y-o-y basis
recently.
“Exports to the US and China also
picked up strongly in July. By product,
electronics exports rose strongly in
June and July, while commodity exports were the main drag on export
performance,” it said.
The research firm attributed the
ringgit’s weakness against the US
dollar to have helped Malaysia’s
export performance in July, with
trade data being reported in ringgit terms.
Aspire’s offer to Kian Joo
stays at RM3.30 per share
BY C H E N S H AUA F UI
KUALA LUMPUR : Kian Joo
Can Factory Bhd yesterday announced that the offer from Aspire Insights Sdn Bhd to buy the
former’s assets and liabilities remains at RM3.30 per share, or
RM1.47 billion, in total.
This is likely to put to rest speculation that whether Aspire Insight, in which the Employees’
Provident Fund (EPF) holds a
40% stake, might have to up its
offer for Kian Joo, considering the
aluminium can maker’s earnings
have improved since the offer was
launched in November 2013. The
EPF also holds a direct 10.03%
stake in Kian Joo, while Can-One
Bhd controls a 32.9% stake.
In a filing with Bursa Malaysia
yesterday, Kian Joo said, “Other
than the extensions to the date on
which all conditions precedent to
the BSA (business sale agreement)
should be fulfilled, all the other
terms of the BSA, including the
disposal consideration which translates into approximately RM3.30
per Kian Joo share remained unchanged,” it said in the filing.
The offer has been extended
several times. The latest extension is
to delay the deadline for both parties to fulfil the conditions precedent to March 23, 2016 from Sept 30
previously for both parties to fulfil
all conditions precedent.
The aluminium can maker revealed that the extension is partly because of the ongoing court
case in the Kuala Lumpur High
Court, brought by its former director Datuk Anthony See Teow
Guan against Kian Joo. The case
has concluded following the decision of the Court of Appeal on the
civil appeal suit in respect of the
aforementioned High Court suit.
Secondly, the preparation and
completion of the necessary documentation, including the circular
to shareholders for the proposed
disposal and the submission of valuation reports to Bursa Securities.
Thirdly, this is to provide additional time for due diligence
by Aspire in relation to the proposed disposal.
It is worth noting that when Aspire made the offer to Kian Joo in
March 2014, the offer valued Kian
Joo at about 12.4 times its earnings
and 1.4 times net asset value.
However, since then, the revenue of Kian Joo, which enjoys a
lion’s share of the local aluminium can market, grew 10.7% to
RM1.42 billion for the trailing 12
months ended June 30, compared
with the financial year ended Dec
31, 2013. In addition, its net profit
grew nearly 16% to RM137.1 million in the same period.
Its retained earnings also expanded about 17% to RM1.08
billion, while net borrowings fell
28.7% to RM151.1 million.
Based on a better financial
performance, Kian Joo could be
worth more than RM1.47 billion.
Applying the same valuation
multiples — 12.4 times earnings
and 1.4 times net asset value —
Kian Joo would be worth between
RM3.82 and RM3.86 per share.
The offer price of RM3.30 represents a discount of between
15.8% and 17%.
Perisai Petroleum defers rig delivery
BY ME E N A L A K S H A N A
KUALA LUMPUR: Perisai Petroleum Teknologi Bhd seems to be
feeling the heat of the slowdown
in the upstream activities in the
oil and gas industry in the current
low oil price environment.
The company announced yesterday it had deferred the delivery
of Perisai Pacific 102 jack-up drilling rig to no later than March 31,
2016. The rig was originally set for
delivery on April 30 this year.
In a filing with Bursa Malaysia, Perisai said it had agreed with
PPL Shipyard Pte Ltd to defer the
delivery date of Perisai Pacific 102.
However, no reasons were given for
the postponement.
Perisai said the postponement
will not affect the share capital of
the company, saying it is expected to contribute positively to the
group’s earnings and net assets
upon deployment of the rig.
All other contractual terms remain, it noted.
The Perisai Pacific 102 is under
construction at the PPL Shipyard
in Singapore.
Upon completion, it will be
managed by Hercules Offshore Inc.
The abrupt halt on most exploration and development of new
fields by the oil majors has resulted in a drop in demand for oil rigs
worldwide and slide in charter rates
for oil rigs. Petroliam Nasional Bhd
The Perisai Pacific 102 was originally
set for delivery on April 30 this year.
(Petronas) acknowledged that only
14 of its oil rigs would be in operation by year end compared with
39 as at end-2014.
Interestingly, Perisai’s earnings
for the six months ended June 30
remained intact, thanks to the contribution from the commencement
of drilling operations in August last
year with the new-build jack-up
drilling rig — Perisai Pacific 101.
For the six-month period, the
company posted a net profit of
RM8.6 million compared to a net
loss of RM2.02 million. Revenue
soared to RM110.38 million against
RM21.64 million in the previous
corresponding period.
Perisai Petroleum shares
closed 0.5 sen higher at 34 sen,
with a market capitalisation of
RM405.53 million.
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
4 HOME BUSINESS
Nazir: Going
beyond
economics
To spur innovation and creative disruption
W
hen Azman
invited me to
speak at this
luncheon,
he said — in
that unique
Azman way that we all know and
have grown to love — “please talk
about whatever you feel like. But
[pause] by the way; the Khazanah
Megatrends Forum is rated ‘PG’,
not ‘X’”. I guess Azman follows my
Instagram.
But he is right. Some of my views
on current affairs are considered
unsuitable to be heard by adults
who decide on these things. I will
come back to this later.
The theme of the Khazanah Megatrends forum this year is around
“innovation” and “creative disruption”, and they have been comprehensively overviewed since this
(yesterday) morning.
In the next 30 minutes, I would
like to share with you some personal stories and anecdotes, and
perspectives about why Malaysia
remains frustrated in its quest for
greater creativity and innovation,
risk and adventure taking, ethics
and integrity in our economy, and
how thinking about this problem
leads me to the same conclusion as
when I think of many other pressing
national issues — we must address
the “elephant in the room”.
Capital
As a 25-year banking veteran, I
would be the first to admit that
banks have been poor at supporting not just innovation, but many
creative ideas. Some who survived
to tell the tale include two young
Malaysians, who some years ago
came to see me about buying an
airline for RM1 to build a regional
low-cost carrier. I showed them the
door very quickly and quite rudely,
and was only nice to them when
AirAsia was successful and going for
its initial public offering. Similarly,
our experiments at banking startups and technology companies did
not go well. Banks are by definition
conservative, highly-regulated and
staffed with bankers.
In the mid-1990s, in response
to the perceived lack of access to
capital for technology start-ups,
I was asked to chair the Industry
Action Committee to set up the
Malaysian Exchange of Securities
Dealing and Automated Quotation,
the Malaysian Nasdaq. Even before
we had venture capital and proven
technology companies, we decided
to set up a stock exchange. And lots
of money was spent on the new exchange when really it should have
just been another board on Bursa
Malaysia — it would have been a
far cheaper failed experiment. Until
today, I regret not saying no to this
project, but it was a good early lesson for me and probably why I do
find it hard to keep my mouth shut.
As banks and the capital markets
fell short, the government availed
lots of money for technology and
start-ups in general. Funds like
Malaysian Technology Development Corp and several venture
companies were seeded by the government. Money itself has never
been the problem. The problem
was that we never had the institutional capabilities to allocate the
money effectively, biased as we
were to local intermediaries who
lacked experience and networks,
and prone as we were to proliferating agencies rather than building
large institutions with economies of
scale, and partnerships with international experience and networks.
Today (yesterday), however, I do
think that from a capital standpoint,
there is much less frustration on
the part of budding entrepreneurs
and creative disrupters. Ekuiti Nasional Bhd, for instance, has scaled
and leveraged professional fund
managers well. Government-linked
companies (GLCs) have evolved
to apply best international standards in investing and now hire —
and pay — a much better cadre of
professionals for themselves and
at investee companies. There has
also been a proliferation of private
equity and venture capitalists to
supplant banks, and offer more
effective risk and reward structures.
There is room for improvement,
of course. I would like to see more
funds made available to smaller
companies and more focus on how
to encourage large GLCs to better
support small companies or small
deals. I would also urge that we look
at how to make it less punitive for
banks to become investors in private equity funds, given the difference in the needs of our emerging
economy versus the more developed markets, where these new
rules are being written.
Mentoring and international
perspectives
Innovation is about three things:
insight, ideas and implementation.
Beyond capital, entrepreneurs need
guidance to help them build their
ventures. Malaysia has had Technology Park Malaysia and others,
and lately the Malaysian Global
Innovation and Creative Centre,
with varying degrees of success.
I feel that one thing lacking has
been the international element in
mentoring. It is unrealistic to think
T UE
‘
K H A Z A NA H
M E G AT R E N D S
FO RU M 2015
Grand Ballroom, Mandarin
Oriental, Kuala Lumpur
Spurring Innovation & Creative
Disruption — Beyond Economics by Datuk Seri Nazir Razak,
chairman of CIMB Group Holdings Bhd and a board member of
Khazanah Nasional Bhd. Distinguished guests included Tan Sri
Nor Mohamed Yakcop, deputy
chairman of Khazanah, and Tan
Sri Azman Mokhtar, managing
director of Khazanah.
of building sustainable businesses
based purely on domestic dynamics in this era of Asean economic
integration and an increasingly
borderless world. This was why a
few other individuals and I set up
not-for-profit organisation Endeavour Malaysia in 2013. In partnership
with Endeavour Worldwide Ltd, we
search for entrepreneurs via a rigorous selection and interview process by first the local management,
then the local board and finally the
international Endeavour board.
Successful entrepreneurs are
badged “Endeavours”, allocated local and international mentors, and
are given access to an international network of businesses — about
1,100 Endeavour companies worldwide. Endeavour Worldwide is all
about successful business people
eager to give back by supporting
new entrepreneurs. It does take
an entrepreneur to know one and
it takes knowledge from all over
the world to assess the prospects
of the best ideas. Local mentors
for Malaysian Endeavour companies include my co-founders Afzal
Abdul Rahim, Mark Chang, Brahmal Vasudevan and Tan Sri Tony
Fernandes.
Endeavour’s “mentor capitalist”
model has worked extremely well
in Latin America, where its biggest
success story is MercadoLibre, an
eBay equivalent. Marcos Galperin
started the company in 1999 and
was selected by Endeavour that
year. He expanded the business
across the continent and the company is now listed on the Nasdaq
with a market capilisation of about
US$4 billion (RM17.48 billion).
Galperin is the perfect example of
how a high-impact entrepreneur
can have an outsized impact on
the ecosystem around him or her.
He subsequently became a founder
and board member of Endeavour
as well as a role model, mentor or
direct investor in a whole string of
emerging companies.
I hope that we can rapidly add
to the six Endeavour companies
that we have so far, but overall Malaysian entrepreneurs now have
reasonable choice of ecosystems
to help them.
Beyond economics
If we define access to capital and
ecosystems as economics, then I
would say we have over the years
largely addressed the economic issues, but there is still no real breakthrough. Recent data showed national productivity growth slowing
down from 2.7% between 2006 and
2010 to 2.1% between 2011 and
2014. Other worrying datapoints
N
BY
Nor Mohamed (left) and Azman at the Khazanah Megatrends Forum 2015. Photo by
Shahrin Yahya
include the stories of two recent big
Malaysian innovation successes —
GrabTaxi and HappyFresh — they
started in Kuala Lumpur but have
effectively moved to Singapore and
Indonesia for various reasons.
When I asked several entrepreneurs whether if given the choice
they would choose to be based in
Malaysia, most said no, and those
who said yes tended to strongly
espouse their nationalistic sentiment. Even though it was just my
crude dipstick survey, it is worrying
because we are at risk of losing the
best companies that we nurture.
So, I asked those who said they
would move away what their concerns are. Without fail, they went
beyond economics to the big picture, and relate to not just their own
concerns but perception of their
potential international financiers
and partners.
Role of the government
The heavy presence of the government in the economy is one issue
they highlighted.
We have spoken and agreed ad
nauseam on various other platforms about reducing government involvement in business,
yet data from the past few years
showed quite the opposite. Even
more important is the role of the
government in overseeing business competition — the rules of
the game in each sector. Much of
this has been covered in the New
Economic Model (NEM), and we
are making progress with the Government Transformation Program
(GTP) and Aviation Commission,
for instance. But much, much more
needs to be done.
The more sensitive area of concern is the perception that people
or businesses are not equal before
the government, and even when
one can accept preferential treatment based on our affirmative action policy, the rules are often not
clear. Added to that is a culture of
top-down decision-making, even
in the sphere of innovation.
Let me share with you one personal anecdote. In 2004, I was appointed to the board of infamous
InventQjaya Sdn Bhd, set up by a
self-described genius innovator,
generously funded by the government with cash and a super smart
building in Cyberjaya. I joined two
other independent directors, Tan
Sri Shahril Shamsuddin and Datuk
Sidek Ahmad.
From early on, we sensed things
were not right and when we conducted our own technical due diligence, there were a lot of question
marks around the intellectual prop-
erty the company had expensively
acquired from the genius innovator’s own company back in the
United States.
The turning point for me was
when he showed us his “killer invention” — a glass window which
would turn opaque at the touch of
a button. Well, massage parlours
in South Korea have had them for
years — so I was told! Shahril and
Sidek, who were both more literate
in science than me, also found other
dubious inventions. So finally, together with finance ministry official Datuk Abdul Rahim Mokti, we
decided that enough was enough;
we had to do the right thing.
Truth to be told, if we knew how
painful blowing the whistle was going to be, I’m not sure if we would
have done it!
Etched in my memory is the
day Shahril and I went to report
the case at the Attorney-General’s
Chambers. After spending a couple
of hours showing all the evidence,
the officer calmly asked: “Did you
bring your toothbrush?”
He said, based on his experience, people who make accusations are often the real crooks, so
perhaps he should detain us! So
then, we spent another couple of
hours explaining that it wasn’t us
— thankfully, we were convincing
enough.
After triggering the institutional
processes, we were advised that we
had to see and explain ourselves to
Tun Dr Mahathir Mohamad, who
had firmly backed the project. After
the Attorney-General’s Chambers
experience, we were too afraid, so
we ran to the master salesman,
Tan Sri Nor Mohamed Yakcop, and
begged him to carry the news for
us. I was told Nor Mohamed did a
splendid job; Dr Mahathir agreed
that we were doing the right thing
and we were safe.
The authorities never managed
to build the legal case against the
inventor. A lot of money was wasted, but a great deal more would
have been lost had we, the directors
appointed by the government, not
done our fiduciary duty and been
willing to tell truth to power. I have
never fully traced the history of how
and why InventQjaya started, but
I was told it was by navigating the
corridors of power and convincing
the prime minister. Dr Mahathir’s
idea of a government-backed research and development centre
was good; the problem was how it
was implemented.
There could have been a tender
open to scientists across the globe,
for instance, as opposed to one
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T U E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
HOME BUSINESS 5
‘Ringgit should not be pegged’
Nazir says the authorities should look at how to bring the local currency back to its fair value
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AG E
KUALA LUMPUR: CIMB Group
chairman Datuk Seri Nazir Razak
said yesterday the ringgit should not
be pegged to the US dollar.
“It has long-term implications,”
he told reporters on the sidelines of Khazanah Nasional Bhd’s
Megatrends Forum 2015, but did
not elaborate on what those implications are.
“The current economic conditions are also different to those
in 1998,” he said, adding that the
ringgit is now fundamentally undervalued.
Year to date, the ringgit has declined 24.9%, the worst-performing currency in Asia this year. It
closed at 4.3690 against the US
dollar yesterday.
The last time such levels were
seen was during the 1997/98 Asian
financial crisis. At the height of the
crisis, the Malaysian government
moved to peg the ringgit at 3.8 to
the US dollar after it had lost 50%
of its value against the greenback.
“I think we should look at how
to bring the ringgit back to its fair
value. I think that is all the government and central bank should
look to do to create the right environment, so that the currency can
trade at [a] fair value,” said Nazir.
Bank Negara Malaysia governor
Tan Sri Dr Zeti Akhtar Aziz said last
month there was no need to peg the
ringgit to the US dollar currently
despite the continued downtrend
of the currency as it would affect
factors such as prices and demand,
which may have greater implications on the economy.
At the time, Zeti also identified the global external headwinds
which had affected the ringgit,
like the impending US Federal
Reserve’s (Fed) interest rate hike
The ringgit closed
at 4.3690 against
the US dollar
yesterday. Photo
by Patrick Goh
this year and the spillover effects
of China’s slowdown. Domestically, she highlighted that the ringgit
had been affected by issues like
those revolving around debt-laden 1Malaysia Development Bhd.
Yesterday, Nazir said the Fed
should not delay raising interest
rates so as to remove the overhang
in the market.
“I am of the school of thought
that the Fed should raise interest
rates sooner rather than later to
get rid of the overhang in the market. So, whether it is December or
March [next year], I would prefer
if it is sooner,” he added.
He said the market expects interest rates to be increased, which
is driving the strengthening of the
US dollar due to hoarding.
“The market builds in expectations and the expectation today is
that rates will be increased. As the
saying goes, buy on anticipation,
sell on news,” he added.
Reuters reported yesterday that
disappointing US job data had
caused the US dollar index, which
tracks the greenback against a basket of six currencies, to its lowest
in two weeks.
The data showed that just
142,000 jobs were created last
month, compared with a forecast
of 203,000, and that hourly wage
growth declined, the report stated.
The weak employment data has
fuelled speculation among investors that the interest rate hike will
be delayed.
CIMB chairman suggests setting up of six panels to deliberate on critical issues
F ROM P RE V I O U S PAGE
man’s full trust in another, who
went on to liberally use the threat
of his access to power to get his way.
I am sure there are other similar stories. So, we need to recalibrate how the corridors of power
work, re-establish processes, and
reaffirm institutional checks and
balances. Over the years, power
has become too concentrated, and
system checks and balances are not
functioning as they should.
Human capital and education
Another issue that the entrepreneurs
highlighted was human capital.
I will not delve into education
reform as many of our finest, Azman, Tan Sri Zarinah Anwar, Tan
Sri Dr Jeffrey Cheah and Fernandes
were part of the National Education
System Evaluation Panel set up in
2011, and from what I gather, the
issues are well understood.
There is, of course, plenty of research that shows correlation between national propensity to innovate and the right educational
policies. It’s the political realities
of education reform that seem to
have held us back.
On the wider issue of talent retention or drain itself, much has
been discussed via TalentCorp, etc,
but when I speak to the brightest
overseas Malaysians, the most often cited reasons for not coming
home are sociopolitical.
Politics
The elephant in the room is politics
and the socio-economic structures
that have evolved in tandem over
the years.
As we have seen over the last two
general elections, the dominant
political party system that we have
had since independence is at risk.
While we can point to many other
countries where the transition to a
multiparty system happens peacefully, Malaysia is unique and complex, with a potentially toxic mix of
race and religion deeply embedded
in the political system, so we can’t
take that for granted. Meanwhile,
crucial reform proposals by many
of our cleverest people, like the
National Economic Advisory Council which presented the NEM that
proposed major structural reforms,
have been frozen by politics.
I won’t try to predict the consequences of continuing with the
current trajectory of Malaysian politics. But I will predict that if we
don’t undertake major structural
reform of our socio-economy soon,
we may well lose the international
economics game.
Way forward
I propose that we go back in history.
Not to the early, joyous, optimistic
days of the initial post-Merdeka
years. Instead, let’s travel back to
the devastating blow we suffered
on May 13, 1969 — a day of infamy
in our short history as a nation; a
day that punctured our innocent
idealism and introduced us to the
Hobbesian nature of reality.
In the wake of that tragic and
horrific bloodletting, the government declared emergency rule and
set up a National Operations Council led by Tun Abdul Razak Hussein
to run the country after Parliament
was suspended indefinitely. Eight
months later in January 1970, Abdul Razak chaired the first National
Consultative Council (NCC) meeting to examine the ethnic, political,
economic and cultural sparks that
provoked the May 13 episode and
undermined national unity. The
NCC’s members consisted of just
three ministers — Tun Dr Ismail
Abdul Rahman, Tun Tan Siew Sin
and Tun V T Sambanthan — as
well as representatives from state
governments, members of religious
establishments, professional bodies, unions, teachers associations
and political parties — a balanced
representation of the population.
The NCC’s deliberations over
a few months produced two extremely significant documents that
guided our nation in the post-May
13 years: the New Economic Policy (NEP) and the Rukun Negara.
Parliament was subsequently reinstated, while the NEP spurred
the growth of the government’s
involvement in business, with the
establishment of many agencies to
facilitate the rebalancing of wealth
among ethnic groups and poverty-eradication initiatives with considerable success. The NEP epitomised what this conference is all
about: innovation, creative disruption and inclusivity.
So, here we are today (yesterday).
The NEP that was set to be a 20year programme remains 44 years
on, albeit in a much mutated form.
In the meantime, the world and our
place in it have changed, not least
with the advent of the knowledge
economy and the shift in economic
power from large corporates and
institutions to individual talents
and entrepreneurship. The near
future looks even scarier as articulated this (yesterday) morning by
Charles Leadbeater.
Supply chains have shifted dramatically, and creative disruptors
flourish in economies where vested interests are not protected by
governments and politics. Is our
economic system substantially designed in the 1970s able to cope
with the demands of today?
We all seem to know major reforms are needed — there is already
much good literature on reforms
from the government itself — but
implementation has been trapped
by realpolitik. Recent events are
surely symptoms of systemic strain.
I believe that just as in the postMay 13 era, we are now facing a
national challenge.
Back then, the fundamental issue was national unity. Today, in the
21st century, the parameters have
widened. National unity and the
forging of a Malaysian identity are
still very much works in progress.
But added to them is a plethora of
problems ranging from the ethical to the practical, and even our
quest to spur innovation and creative destruction leads us to this
fundamental national challenge.
We urgently need a new social
and economic re-engineering programme to suit today’s challenges and for today’s Malaysians. My
humble suggestion is this: The time
is ripe for the setting up of a council
similar to the NCC. Let’s call it the
National Consultative Council 2 or
NCC2. To borrow a leaf from history, let us once again bring together
the best and brightest among Malaysians to huddle and deliberate
our options. Let the NCC2 be no
different from the first NCC in terms
of participation from all members
of our Malaysian society. Its membership should be inclusive, its deliberations wide-ranging, and its
reports succinct and practical to
implement. And it should be led
by someone or some people with
the moral authority to bring the
good and the great to the table for
the sake of the nation’s new future.
My own ideas on how the NCC2
would function are still evolving.
Offhand, I would suggest the setting
up of six panels to deliberate on the
following critical issues, namely:
1) Constitutional reforms;
2) Electoral reforms;
3) Economic reforms — affirmative
action, the role of the government;
4) National unity and the social
contract;
5) Preserving and strengthening
the integrity of the federation;
and
6) Institutional integrity — checks
and balances between various
branches of the government and
within the government itself.
I make no apologies for adopting
the NCC from my late father. As I
have written earlier, he was a Malaysian to the core, a public servant
to the extreme definition of that. I
believe his legacy of an inclusive,
deliberative and Malaysian vision
and identity is even more relevant
today than it was in the dark days
after the May 13 incident.
Conclusion
As I said at the start of my speech,
there are adults who consider my
views on current affairs as unsuitable. And they will look for 1,001
motives behind my suggestion of
the NCC2 instead of what I have
just articulated. That is their prerogative.
Just as it is my prerogative to say
we can and must opt for national
— politics, economics and social —
recalibration. We have to address
the elephant in the room. Malaysia needs innovative and creative
disruption of a national scale to
spur innovation and creative disruption in our economy. Malaysia
also needs innovative and creative
disruption of a national scale to secure our future and realise the true
potential of our great nation. We
have done it before; we must do it
again. Thank you for your attention.
I trust that I kept to the designated
“PG” rating.
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
6 HOME BUSINESS
Red Bull to energise
Yee Lee’s revenue
The group gets exclusive rights to distribute the energy drink
(From left) Lim,
TC Pharmaceutical
Industries Co Ltd
chief executive
officer Khun
Saravoot Yoovidhya
and Wong at Red
Bull Malaysia
and Yee Lee's
press conference
yesterday. Photo by
Mohd Izwan Mohd
Nazam
BY ESTHER L EE
KUALA LUMPUR: Yee Lee Corp Bhd
is expecting revenue derived from
its beverage segment to double with
the addition of its exclusive rights to
distribute Red Bull energy drink in
Malaysia, said group chief executive
officer Lim Ee Young.
“The addition of Red Bull is expected to double the group’s beverage
[segment] revenue. As for profit, we
don’t know how much it will contribute yet, but it will definitely contribute positively to Yee Lee’s future
profits,” he told a press conference to
announce the successful transition
of distribution services of Red Bull
energy drinks in Malaysia yesterday.
Currently, Yee Lee distributes
Spritzer and Cactus bottled water.
Spritzer and Cactus brands are bottled by Spritzer Bhd.
Yee Lee’s 32.69% associated company Spritzer raked in a total revenue
of RM253.67 million for its financial
year ended May 31, 2015.
Red Bull’s exclusive agent Allexcel
Trading Sdn Bhd general manager
Charles Wong said the company is
targeting to sell five million cartons
— 24 cans per carton — of Red Bull
energy drinks this year.
Meanwhile, Yee Lee’s segment
report for the cumulative six months
ended June 30, 2015, showed that its
associated company Spritzer contributed RM4.57 million to the former’s
bottom line.
The bottled water segment is categorised under its trading division.
Within its trading division, Yee Lee
also distributes other agencies’ products such as the Campbell brand and
Old Town products, as well as edible
oils it manufactures.
Yee Lee’s (fundamental: 1; valuation: 1.4) trading division is the largest
contributor to the group’s revenue,
while its manufacturing segment contributes the largest amount of profit.
The group manufactures cooking
oil, margarine, shortening, corrugated
paper cartons, crude palm oil, kernel
and general line tin cans.
Based on its cumulative six-month
results, its trading division contributed RM247.87 million in revenue and
RM4.88 million in segment profit.
On the other hand, its manufacturing segment raked in a revenue of
RM114.49 million and RM7.5 million
in segment profit.
Lim said Yee Lee has invested
about RM2 million in Go-To-Market
technologies, such as distribution
management, sales force automation
and master coverage planning system,
to increase productivity and efficiency.
Yee Lee is expecting its total investments in these Go-To-Market technologies to range from RM5 million to
RM10 million in the next three years.
Yee Lee was appointed by Allexcel to distribute and sell the Red Bull
Gold, Red Bull Less Sugar and Red Bull
Bottle energy drinks in Malaysia for a
period of five years, beginning Aug 1.
On Yee Lee’s outlook for the second half of its financial year ending
Dec 31, 2015, Lim said: “We are cautiously optimistic about the results
for the second half.”
“We distribute and sell many consumer goods. I think we can match
the figures we achieved last year. The
distribution of Red Bull energy drinks
will add value to what we are doing,”
Lim added.
Yee Lee’s net profit for the cumulative six months ended June 30 fell
to RM12.48 million from RM16.43
million a year ago. This was despite a
3.9% increase in revenue to RM363.33
million from 349.85 million a year ago.
Minetech eyes Perak land to diversify into property
BY SA NGEETHA AM ARTHALINGAM
KUALA LUMPUR: Quarry operator Minetech Resources Bhd (MRB)
plans to buy four parcels of land in
Perak to diversify its existing business
to include property development.
In a filing with Bursa Malaysia,
Minetech said it signed a conditional
sale and purchase agreement yesterday with Glamour Heights Sdn Bhd
to buy a 7,924 sq m parcel of vacant
residential land in Kinta, Perak, for
RM6 million cash.
The land is approved for a 21-storey mixed project, for which Minetech will be the main developer and
Glamour Heights the co-developer,
to assist in the construction of the
Glamour Avenue project.
“The building plans for Glamour Avenue were approved by Majlis Bandaraya Ipoh on Feb 28, 2014.
Based on current planning, the estimated gross development value
(GDV) and the estimated gross development cost (GDC) of the project
are RM76.97 million and RM68.99
million respectively, yielding an es-
timated profit of RM7.98 million to
Minetech," said the group.
“As at the latest practicable date
(LPD), Glamour Heights has commissioned preliminary works on the development including earthworks and relocation of sewerage pipelines," it added.
Glamour Avenue represents Minetech’s maiden venture into the property development industry. It expects
to fund the buy using its internal funds
and/or bank borrowings.
Minetech is also planning to buy
two companies: Medium Visa Sdn
Bhd (MVSB) and Harapan Iringan
Sdn Bhd (HISB), for RM9.43 million
and RM7.51 million respectively.
MVSB owns two parcels of adjacent leasehold land (Land A and Land
B) in Bernam Timur, Perak, measuring 124,136.7 sq m. HISB owns a
99,730 sq m parcel of leasehold land
(Land C), also in Bernam Timur.
Land A and Land B are largely
vacant industrial land adjacent to
Land C (also a vacant industrial tract),
located approximately 5km east of
Tanjung Malim town centre.
Minetech (fundamental: 1.15;
valuation: 0.9) intends to fund the
acquisitions of MVSB and HISB using proceeds from its rights issue in
2014, subject to approval from its
shareholders.
Minetech also proposed a revision
of the intended use of its rights issue
proceeds, from which it had raised
RM49.86 million. As at the LPD, the
group has used RM19.36 million.
MRB plans to reallocate RM20 million
of the rights issue proceeds, originally meant for the purchase of quarry
sites, to fund its distribution of heavy
machinery and working capital.
It remains interested in purchasing new quarry sites, but has yet to
identify any viable target sites.
Minetech is also proposing to set
up a share issuance scheme of up
to 15% of its issued share capital at
any one time during the duration of
the scheme for eligible directors and
employees of the group. It intends to
utilise the proceeds arising from the
exercise for its working capital.
The group said it expects the various proposals to be completed in the
first quarter of 2016.
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Bursa slaps UMA query on
XOX over price, volume spikes
BY G H O C H E E Y UA N
KUALA LUMPUR: XOX Bhd,
whose share price surged 38.89%
to close at a one-and-a-half-year
high of 12.5 sen yesterday, was
issued an unusual market activity
query by Bursa Malaysia.
The stock closed at nine
sen last Friday, with some 9.3
million shares changing hands.
Year to date, XOX’s share price has
risen 150%.
Trading volume of the mobile
virtual network operator, which
started offering its services to the
public in 2005, jumped more
than seven times to 69.97 million shares yesterday, making it
the second most actively traded
stock across the bourse.
At 12.5 sen, it has a market
capitalisation of RM36.52 million. The sudden price rally has
added some 22.22% or RM6.64
million to its market value from
last Friday’s RM29.88 million.
According to Bursa’s website
yesterday, it requested XOX to
disclose any corporate devel-
opment, rumour or report and
any other possible explanations
that could contribute to the share
price rally.
The regulator also advised investors to take note of the company’s reply, which will be posted on Bursa’s website under the
company announcements.
For the fourth quarter ended June 30, 2015 (4QFY15), XOX
(fundamental: 1.4; valuation: 0.5)
posted a 48.84% decline in net
profit to RM659,000 from RM1.29
million a year earlier, due to intensive marketing and branding
programmes to address various
challenges, including compounding effects from the goods and
services tax and competition
intensity.
Revenue for the quarter rose
42.68% to RM27.92 million from
RM19.57 million in 4QFY14, resulting from the contribution of
continued efforts on products
branding, subscribers’ retention
and quality subscriber acquisition through various business
strategies in place.
WCT bags 1MDB Real Estate
contract worth RM70.4m
BY DA N IA L ID R A K I
KUALA LUMPUR: WCT Holdings Bhd’s wholly-owned subsidiary WCT Bhd (WCT) has received a contract worth RM70.4
million from 1MDB Real Estate
Sdn Bhd, a subsidiary of 1Malaysia Development Bhd (1MDB).
The contract will see WCT
taking on the proposed earthworks of Lifestyle Quarter for
Phase 1 of the proposed mixed
development at the Tun Razak
Exchange in the heart of Kuala
Lumpur.
In a filing with Bursa Securities yesterday, the group said
the scope of work consists of
earthworks, rock probing and
grouting works, with a target for
completion by November 2016.
“The contract is expected
to contribute positively to the
group’s future earnings and net
assets,” the group said in the
filing.
WCT Holdings (fundamental:
0.45; valuation: 1.40) closed unchanged at RM1.45, with 396,200
shares traded, giving a market
capitalisation of RM1.72 billion.
The Edge Research’s fundamental
score reflects a company’s profitability and balance sheet strength,
calculated based on historical
numbers. The valuation score
determines if a stock is attractively valued or not, also based
on historical numbers. A score of
3 suggests strong fundamentals
and attractive valuations.
AHB’s MD ups stake to 18.32%
BY C H E S T E R TAY
KUALA LUMPUR: Office interior
products maker AHB Holdings
Bhd managing director cum chief
executive officer Yong Yoke Keong
has increased his stake to 18.32%,
after acquiring a cumulative of 7.58
million shares or a 4.74% stake
last week.
A filing with the local bourse
yesterday showed Yong bought
4.74 million shares or a 2.96% stake
last Thursday through a direct business transaction.
Additionally, in a filing last
Thursday, AHB disclosed that
Yong had acquired 2.84 million
shares or a 1.78% stake from the
open market.
These acquisitions have resulted
in Yong becoming the single-largest shareholder of AHB, followed
by Dexx Technologies Sdn Bhd.
Notably, in a separate filing last
Thursday, the PN17 company said it
had about one month to submit its
regularisation plan to the relevant
authorities for approval.
AHB (fundamental: 1.65; valuation: 0.9) closed half sen or 2.78%
higher at 18.5 sen yesterday, with
a market capitalisation of RM28.8
million.
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
HOME BUSINESS 7
Khazanah in no rush to
sell Bank Muamalat stake
MSM to start
operations in
Dubai on Dec 1
Its partners DRB-Hicom Bhd and MBSB are taking the lead in merger talks
BY MEENA L A KSHA NA
KUALA LUMPUR: Malaysia’s sovereign
wealth fund Khazanah Nasional Bhd is not
in a rush to sell its 30% stake in Bank Muamalat Malaysia Bhd in the proposed merger
with Malaysia Building Society Bhd (MBSB).
Khazanah managing director Tan Sri Azman Mokhtar said yesterday its decision is
dependent on the negotiated amount its
non-core holdings in the bank would garner
out of the merger talks.
“We have a policy that if it’s not a core holding, we don’t really need to hold [it]. [But] we
are not in a rush to sell either. It has to be at
the right price, right configuration and so on,”
he told reporters on the sidelines of Khazanah
Nasional’s Megatrends Forum 2015.
The Edge weekly had reported, quoting
sources, that Khazanah planned to divest its
entire 30% stake in Bank Muamalat in the proposed merger, and that it had been looking to
sell for a long time and wanted cash to exit.
Another reason for the divestment, the weekly said, was that the central bank was not keen
on the government investment arm owning
major stakes in more than one bank. It already
owns 29.34% in CIMB Group Holdings Bhd.
According to Azman, as Khazanah is only
a 30% shareholder, it is not taking the lead
in the merger talks.
“We have seen some progress in Bank
Muamalat but really our partners DRBHicom [Bhd] and MBSB, which is owned by
EPF (Employees Provident Fund), are taking the lead. Khazanah will make a decision
As Khazanah is only a 30% shareholder, it is not
taking the lead in the merger talks, says Azman.
Photo by Shahrin Yahya
based on whatever they decide,” he added.
EPF owns 65% of MBSB. It also, as at July
1 this year, holds an 8.13% equity interest in
DRB-Hicom.
Last Thursday, MBSB said it had obtained
Bank Negara’s approval to begin merger talks
with Bank Muamalat, with a three-month
period to complete the talks. It was previously reported that the combined asset size
of the two entities is estimated to be about
RM60 billion as at end-June. MBSB’s assets
are valued at about RM41 billion, and Bank
Muamalat’s at about RM22 billion.
Bank Muamalat is the country’s second
stand-alone Islamic bank after Bank Islam
Malaysia Bhd, and DRB-Hicom controls a
70% stake in it. When DRB-Hicom took over
Bank Muamalat in 2008, the central bank
had imposed a condition that its stake had
to be pared down to 40%.
There has been speculation that if the
merger goes through, EPF’s shareholding
in the merged entity would be reduced to
40%, while DRB-Hicom’s interest would be
trimmed to 20%.
MBSB’s latest attempt to merge with Bank
Muamalat comes just nine months after the
shelved three-way merger with banking giants
CIMB Group Holdings Bhd and RHB Capital
Bhd. The deal, which would have created the
largest banking group by assets, was aborted
in January 2015, with the parties citing unfavourable economic conditions.
DRB-Hicom (fundamental: 0; valuation:
2) closed 2 sen or 1.44% higher at RM1.41
yesterday, for a market capitalisation of
RM2.77 billion. Since the announcement of
the start of merger talks last Thursday, the
stock has gained about 6.02%. MBSB (fundamental: 1.2; valuation: 3), which was trading
at RM1.51 last Thursday and rose 5.96% to
RM1.60 the next day, closed at RM1.59 yesterday, for a market cap of RM4.6 billion.
The Edge Research’s fundamental score reflects
a company’s profitability and balance sheet
strength, calculated based on historical numbers. The valuation score determines if a stock
is attractively valued or not, also based on historical numbers. A score of 3 suggests strong
fundamentals and attractive valuations. Go
to www.theedgemarkets.com for more details
on a company’s financial dashboard.
BY TA N S IE W MUN G
KUALA LUMPUR: MSM Malaysia Holdings
Bhd, the country’s largest refined sugar
producer, will begin business operations
in Dubai, the United Arab Emirates, on
Dec 1, as part of its plans to become a top
10 global player by 2020.
In a statement yesterday, MSM said MSM
Trading International DMCC (MSM Trading) has received its trading licence from the
Dubai Multi Commodities Centre (DMCC).
“From January 2016 onwards, MSM Trading
will be responsible for procuring and supplying raw sugar for MSM Group’s requirements.
It will also undertake sugar trading activities,
both in raw and refined sugar, to cater to the
growing demand in the region,” said MSM.
The group’s initial target is to trade raw sugar
volume of up to 200,000 tonnes and sell refined
sugar volume of up to 250,000 tonnes per year.
MSM president and group chief executive
officer Datuk Sheikh Awab Sheikh Abod said
with its footing in Dubai, MSM will have the
opportunity to diversify its income stream
from foreign earnings through destination
trading of raw and refined sugar on top of
export sales of refined sugar.
“Due to the preferable time zone and
ideal location, we have selected Dubai, which
sits in the middle of the global sugar trading
routes such as Asia, Europe, and America.
The location is also much closer to other big
sugar players in the United Kingdom and
Switzerland, which will enable us to tap into
their market research and other resources
that will be very beneficial and advantageous
to MSM,” Sheikh Awab said.
“The trading hours in the derivatives market will be more synchronised in Dubai compared with Malaysia due to the narrower
time difference. Our office will be nearer to
our brokers in London, which will make the
business quicker and efficient, as time is very
crucial in the trading business,” he added.
TNB: No external influence to buy 1MDB’s power assets
BY MEENA L A KSHA NA
KUALA LUMPUR: Tenaga Nasional Bhd
(TNB) reiterated yesterday that there is no
external party influencing its planned acquisition of the remainder of 1Malaysia Development Bhd’s (1MDB) power assets, which
are housed under the latter’s wholly-owned
unit, Edra Global Energy Bhd.
“We are free to decide on our own. For
us, it is a commercial decision. We follow all
governance processes and let me tell you,
there is no imposition from any parties,” said
TNB president and chief executive officer
Datuk Seri Azman Mohd yesterday.
“Whatever decision made will have to go
through an extraordinary general meeting
which will be decided by minority shareholders. We are transparent,” he added.
The national power giant submitted its indicative non-binding proposal to buy Edra’s
five domestic and eight international power
assets in mid-July this year. It was reported that
YTL Power International Bhd and Malakoff
Corp Bhd were also interested in the assets.
TNB is already in the process of buying
Edra’s 70% stake in Project 3B, a 2,000megawatt coal-fired plant in Jimah, Negeri
Sembilan, for RM46.98 million.
Reuters had reported on Sept 8, quoting
sources, that TNB was one of four companies
shortlisted for the final round of bidding for
Edra. Cash-strapped 1MDB, which has raked
up RM42 billion in debts, had announced
a day earlier it had compiled a shortlist for
Edra — which bankers value at around RM10
billion — but did not identify the four parties.
On Sept 25, 1MDB said final, binding bids
for both Edra and Bandar Malaysia would
be received from shortlisted international
and domestic bidders between mid- and
end-October.
According to Azman yesterday, the deadline given for bidders to submit their binding
offers for Edra’s 13 power assets is Oct 16.
“We are in the due diligence process.
Everybody has to submit [their offers] by
the middle of this month,” he told reporters
during a break at Khazanah Nasional Bhd’s
Megatrends Forum 2015 here.
The Edge weekly had reported that TNB
and 1MDB might be considered sister companies, given that Khazanah owns a 29.66%
stake in TNB, and Khazanah is wholly owned
by the Ministry of Finance, as is 1MDB.
But Khazanah would be barred from
voting on TNB’s proposal should an acqui-
Mudajaya gets RM43.89m extra works from Siemens Malaysia
BY TA N SI EW MU N G
KUALA LUMPUR: Mudajaya Group Bhd has
been awarded a RM43.89 million contract from
Siemens Malaysia Sdn Bhd for additional scope
of works in relation to the main civil works at
the Pengerang Cogen Power Plant in Johor.
In its filing with Bursa Malaysia yesterday,
Mudajaya Group said the job was awarded to
its wholly-owned unit Mudajaya Corp Bhd.
This adjustment has brought its original
contract price for the same project from
RM55.5 million to RM99.37 million.
The project is targeted to be fully completed by July 30, 2017, with a construction
period of 23 months.
Mudajaya Corp had on Nov 1 last year
signed the original contract with Siemens
Malaysia to handle the project. At the time of
the announcement, Mudajaya Group had said
the main civil works (without optional works)
were expected to be completed by Feb 5, 2016.
Mudajaya Group (fundamental: 0.35;
valuation: 0.90) closed 0.5 sen lower at 99.5
sen yesterday for a market capitalisation of
RM535.7 million. Year to date, the stock has
lost about 31.4%.
sition materialise. Hence, the next largest
shareholder, the Employees Provident Fund
(12.22% stake), would have a big say in the
proposed transaction, the weekly said.
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
8 HOME BUSINESS
‘YTD cumulative
net foreign outflow
rises to RM18.3b’
It is almost three times the RM6.9b for the entire 2014
BY SURIN MURUGIAH
KUALA LUMPUR: After a high tide
the week before, the outflow of foreign funds from the local equity market reverted to its “normal” pace last
week, according to MIDF Research.
However, MIDF Research head
Zulkifli Hamzah said the year-todate cumulative net foreign outflow
rose to RM18.3 billion.
He also said the heavy swings in
the movement of funds in the last
two weeks proved to be a transient
phenomenon.
He said investors classified as
“foreign” remained net sellers on
Bursa Malaysia last week and that
foreign funds offloaded RM598.7
million net in the open market (i e
excluding off-market deals), a sharp
decline from the RM1.27 billion outflow the week before.
Zulkifli said foreign funds were
net sellers every single day last week.
He said selling was relatively
heavy on Monday and Thursday
last week, reflecting a spillover of
negativity from the previous week’s
global paranoia and apprehension
over emerging markets as a whole.
“For 2015, last week’s attrition
raised the cumulative net foreign
outflow to RM18.3 billion, almost
three times the RM6.9 billion outflow for the entire 2014.
“More importantly, we believe
the overhang of foreign liquidity in
the market is now at its lowest since
the financial crisis of 2007.
“We estimate the size of the overhang to have dropped to below RM10
billion for the first time last week,
for funds which have come in since
early 2010,” he said.
Zulkifli said foreign participation
rate stayed elevated last week.
He said the average daily gross
volume was RM1.14 billion, picking
up from RM1.08 billion the week
before.
“Nevertheless, we note that on
Tuesday (last Tuesday), the volume
was only RM1.15 billion although net
sale amounted to RM216 million.
“Local institutions were passive
buyers, mopping up RM539.1 million net on RM2 billion participation
rate. Average volume had surpassed
the RM2 billion mark in the last eight
consecutive weeks,” he said.
Zulkifli said retailers remained
net buyers, purchasing RM59.6 million, after a record haul for 2015 in
the preceding week.
Nevertheless, he said participa-
tion rate eased to RM664 million,
indicating falling speculative element in the market.
Commenting on regional markets, Zulkifli said it is early October
and the equity markets around the
world remain in a state of heightened
uncertainty.
He said performances of markets
that he tracked were rangebound
last week and there were no particular outliers.
“The biggest headline news of
the week was clearly the 29% single-day plunge in the share price
of Glencore, the company ranked
10th in Fortune Global 500 in 2014.
“Friday’s (last Friday) US unemployment statistics delivered a
new twist to the developing storyline
which has the market bracing for a
US rate hike later this year,” he said.
Zulkifli said China’s official Purchasing Managers' Index for the
manufacturing sector came at 49.8
in September, after a reading of 49.7
in August.
That means the sector has contracted for two consecutive months.
“Foreign liquidity outflow from
Asia eased noticeably last week, especially in the last two trading days,”
he said.
Prices of Toyota, Lexus to increase
up to 16% from January 2016
BY C H EN SHAUA F UI
SHAH ALAM: UMW Toyota Motor
Sdn Bhd will be increasing the prices
of its Toyota and Lexus vehicles by
between 4% and 16% across all models from January 2016, due to the
falling ringgit against the US dollar.
The car manufacturer said however, the impending increase in
its vehicle prices will only recover
partially, not 100% of the impact
from the falling ringgit it has been
absorbing.
“If the ringgit continues to slide
in the near future, we may need to
review our pricing structure again,”
said UMW Toyota Motor president
Datuk Ismet Suki in a statement.
He noted that the company had
implemented strategic moves to
protect the interest of its customers
amid the fluctuation of the ringgit,
and absorbed additional costs to a
certain extent over the past months.
However, UMW Toyota said it
had weighed all possible options,
and has no choice but to pass on
some costs to the consumers to
YTL no longer supplies power to grid
after expiry of PPA with TNB
BY C Y N T H IA B L E MIN
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) announced
yesterday that YTL Power Generation Sdn Bhd (YTL) is no longer
exporting electricity to the grid,
after both companies’ power purchase agreement (PPA) expired
last Wednesday.
TNB said in a statement yesterday that the PPA was signed
on March 31, 1993.
“With the expiry, YTL no
longer exports power to the grid
effective from Oct 1, 2015. Concurrently, a leasing agreement
which YTL entered into with TNB
to lease the latter’s land in Paka,
Terengganu, and Pasir Gudang,
Johor, to build its power stations,
was also affected.
“For the record, the PPA was
the first PPA signed between TNB
and an independent power producer, and the only PPA that was
based on take-or-pay mechanism
for a period of 21 years,” TNB said.
TNB’s statement confirmed
The Edge Financial Daily’s report
last Wednesday, which quoted
Energy Commission chairman
Datuk Abdul Razak Abdul Majid
as saying that the commission
had yet to renew YTL Power In-
2016. The increase is inevitable as
there is no clear indication of when
the ringgit will rebound,” he added.
Nevertheless, Ismet is optimistic
that the price increase will not have
a major impact on its sales, with
UMW Toyota currently on track to
meet its business targets.
“We are facing challenging times
but UMW Toyota is confident we
can ride out the storm. We have
strong fundamentals and a proven
track record. I believe customers
will continue to choose us and our
vehicles as we deliver quality products and services that complement
their lifestyle,” he said.
As at August 2015, Toyota accounted to 15% of market share of
various marques, according to the
Malaysian Automobile Association.
On Saturday, Proton Holdings
Bhd chairman Tun Dr Mahathir
Mohamad was reported as saying that the national carmaker will
maintain its current selling price
despite incurring higher imported
material costs because of the weakening ringgit.
SINESS
4 HOME BU
RHB
con
cash
or w
Aab
BY ES
KUA
Bhd
its RM
players.
the f
said some industry
power plant in vest
The PPA for the
expire today. HowPaka is going to has been granted ticip
S
YTL Power
10
ever,
and
years
BLEMIN
two
BY CYNTHIA
an extension forrenewal of the PPA. RH
without
a Dat
Commismonths
4A,
Energy
e
Project
Th
on
ban
PUTRAJAYA:
Commenting
strings attached
that was awarded sor
sion (EC) has some
Power Innew power plant
Abdul
YTL
of
tion,
l
negotia
to the renewa power purchase
through direct Energy Sdn Bhd
ternational Bhd’s for its electricity
Razak said SIPPfor more time to sh
(PPAs)
nts
agreeme
had requested including techni- th
in Paka, Terengsa
generation plants
submit its plan,tariffs.
Gudang, Johor.
ganu and Pasir Datuk Abdul Razak
cal details and have not submitted in
EC chairman
sion
“They (SIPP)
and w
that the commis
l yet [to the EC]They y
Abdul Majid said YTL Power’s PPAs as
their proposa
it out.
had yet to renew to fulfil certain contime
they are still working
a little bit more
the latter needs renewal is granted.
have asked for e and we are just t
ditions before the them (YTL Powwith the deadlin
nity to work t
opportu
the
“We have given er. They have to
w
giving them
off
is going
ments,” he said.
er) a conditional EC first and say
the power plant
out the arrangeis to build a new
the
plant. The PPA for
come back to
Project 4A
electricity generation
ed cycle
met with the condiA filepic of the Paka
to 1400mw combinin Johor,
that they have said.
today.
plant
Petronas. 1000mw
tional offer,” he Abdul Razak, one of to expire
agreement with
gas turbine power
nal by
companies are which is due to be operatio
to
According to
delay ofthe supply
To recap, the two
caused by the
is for YTL Power
estimated RM700g June 2018.
an
the conditions issues with Tenaga shortageion of the new power proover
in dispute
stressed that
Power is claimin
resolve the land
inde- complet instance Project 3B, which
Abdul Razak also
issues of an
(TNB) as the
million that YTL of gas supplies for
not foresee any
Nasional Bhd producer’s (IPP) jects, for taken over by TNB from
for overpaymentconcessions. YTL he does shortage with the setback.
pendent poweron the latter’s land. has beenia Development Bhd. New
plant
electricity
SIPP .... fortunate
1Malays
come its power won the London arbiplants are built
“We will wait for
Financial Daily
expected to only
Power has
but the
power has reduced
He told The Edge New Enhanced capacity is 2019.
for the lump sum,
ly the demand for
,” he noted.
of the
on stream in ge WEEKLY report- tration oil firm is said to have filed
after the launch ment yesterday.
we are not worried
EC’s
national
The digitaled
High Court andAlso, he pointed out that the
Dispatch Arrange
the IPP is having an application with the
to iron out
long”
ed earlier that
cess “won’t take
supply
YTL Power needs
l
bit tion
l
For its electricity
ts in Paka and
generation plan
Pasir Gudang
ternational Bhd’s PPAs for Paka,
Terengganu, and Pasir Gudang,
Johor.
This was because YTL Power had to fulfil certain conditions, before the renewal would
be granted, The Edge Financial
Daily reported.
TNB said total capacity at the
Paka power station is 780mw,
consisting of two power plants
of 390mw each.
At Pasir Gudang, TNB said
the power plant has a capacity
of 390mw.
YTL Power’s share price closed
down 6.17% at RM1.52 yesterday, for a market capitalisation
of RM10.72 billion, while TNB’s
share price rose 0.3% to close at
RM12.10, for a market value of
RM68.29 billion.
Rebuilding work to start soon on rest
of Battersea Power Station chimneys
The Battersea Power Station southwest chimney has reached a level of 25m.
Photo by Anthony Coleman
BY Y IMIE YO N G
offset rising input costs due to the
strengthening of the US dollar
against the local currency.
Year to date, the ringgit has depreciated by almost 20% against the
US dollar, thus increasing the cost of
operations for UMW Toyota, it said.
“Since the beginning of this year,
the fluctuation of the ringgit has
impacted our business as some of
our parts and components are imported, resulting in an increase in
overall cost of production. We have
implemented cost-efficiency measures and reviewed our operations
across the supply chain to mitigate
the weaker ringgit,” said Ismet.
“The company would have implemented necessary measures to
minimise forex loss impact and address the fluctuation of the ringgit
if it dropped gradually. Unfortunately, the sudden and huge fluctuation of the ringgit within a short
period has given great impact to
our operations.
“Hence, the company will have
to increase the prices of Toyota and
Lexus vehicles effective January
15
Sept 30, 20
Flashback:
fil
fulfi
YTL Power yet toA renewall
conditions for PP
KUALA LUMPUR: Battersea Power Station Development Co Ltd
(BPSDC) said the first of the four
chimneys to be meticulously rebuilt has reached a level of 25m
above the higher point of the wash
tower brickwork and work will
start very soon to dismantle and
rebuild the other three chimneys.
In a statement yesterday, the
company said London Borough
of Wandsworth’s (LBW) independent engineer inspected the
new chimney last Monday and
LBW representatives officially
signed off that the chimney has
reached the required 25m height.
The rebuild programme is designed to ensure that the four
chimneys which soar above the
power station, iconic structures
that are instantly recognisable
and a much-loved feature of London’s skyline, are safeguarded
for future generations to enjoy,
said BPSDC.
“We are very proud of this
achievement and with work to
start soon on the other three chimneys,” said BPSDC chief executive
officer Rob Tincknell.
With another 10m of new chimney lying inside the brick wash
tower, the southwest chimney
will be restored to its full height
of 50m before the end of 2015.
The rebuild programme, which
uses the same materials and construction principles to ensure the
new chimneys are rebuilt to be visually identical to the originals, will
conclude by late summer 2016,
said BPSDC. Once the rebuild
work is completed, all four chimneys will then be painted.
According to Battersea Power
Station’s website, it was the first
London power station to use reinforced concrete chimneys. The
first chimney built was the northwest chimney in 1931 and the final
chimney built was the southeast
chimney in 1955.
Battersea Power Station is
owned by a consortium of Malaysian investors, comprising S
P Setia Bhd, Sime Darby Bhd and
the Employees Provident Fund.
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
HOME BUSINESS 9
OCK aims to increase
recurring income
Maybank
Yangon's
revenue to
come from
lending
BY A Z R IL A N N UA R
To contribute 50% of its revenue, from 20% now
BY C H ESTER TAY
SHAH ALAM: OCK Group Bhd aims
to increase its recurring income to
contribute 50% of its revenue, from
20% now, said its group managing
director Sam Ooi Chin Khoon.
To achieve this, Ooi said OCK
will expand its footprint in the Asean region for the next three years.
Ooi said the regional expansion
will include the acquisition of base
transceiver stations (BTS), embarking on greenfield BTS projects, and
the takeover of assets from telecommunication (telco) operators
and leaseback.
“These expansions will help us
own the BTS, and lease them back
to the telco operators, so as to earn
more recurring income in future,”
he told reporters after the group’s
extraordinary general meeting (EGM)
EPF electronic
platform hits
3.33 million
transactions
BY C H ON G JI N HUN
KUALA LUMPUR: The Employees’ Provident Fund (EPF) said
the usage of its electronic platform i-Akaun jumped to 3.33
million transactions in the second quarter of this year (2Q15)
from 1.65 million a year earlier.
In a statement yesterday,
EPF chief executive officer Datuk Shahril Ridza Ridzuan said
the increase was due to more
members opting for a more convenient way to deal with the EPF.
“The increase in our electronic
services was a result of members’ increasing awareness of the
online facility’s convenience in
checking their EPF statements
and updating their profiles without having to be present at EPF
branches for the purpose.
“For members who have yet
to register for i-Akaun, we encourage them to do so as the EPF
is actively enhancing our operational efficiencies to serve our
members anytime, anywhere.
Moving forward, our operations
will see less resource-intensive
transactions with members and
partners, and more on delivering
speedier service and convenience,” Shahril said.
EPF members have increased. Shahril said as at June
30 this year, the EPF had 14.36
million members, compared
with 14.05 million a year earlier,
of whom 6.72 million were active
contributors to their retirement
savings.
yesterday.
According to Ooi, OCK currently
owns about 100 BTS, and expects to
own over 300 by early 2016.
“Telco operators are moving towards the MVNO (mobile virtual
network operator) trend, where they
do not tend to incur high costs in
basic infrastructure to transmit signal, so they will outsource this part
of business, and we can help them
manage it,” said Ooi.
Ooi explained that the idea is to
allow telco operators to share BTS
instead of owning dedicated BTS,
which incurs a higher cost.
“In Indonesia, where subscriber
base is getting saturated, operators
are outsourcing BTS management,
and we are trying to promote this
approach here,” he said.
“The main risk of our business
is when operators stop spending
in terms of capex (capital expenditure), so this approach is to tap into
that opex (operating expenditure),
by giving them an option to have
the coverage, while incurring lower
costs,” Ooi added.
Earlier at the EGM, OCK shareholders approved the proposed renounceable rights issue to raise up to
RM145.24 million, which will mainly
be used for regional expansion.
Nevertheless, Ooi said the group
has not finalised any deal at this juncture.
The group delivered a stellar set of
financial results for the second quarter ended June 30, 2015 (2QFY15).
Its net profit surged nearly 70% to
RM5.13 million from RM3.02 million
a year ago. Revenue also increased
by 62% to RM70.27 million from
RM43.43 million in 2QFY14.
“Based on our historical records,
our revenue grew about 20% to 25%
annually. We hope to maintain the
trend moving forward as well,” Ooi
said.
OCK (valuation: 0.8; fundamental:
1.6) shares closed up 0.66% or one
sen to 76 sen yesterday, bringing a
market capitalisation of RM401.4
million.
The Edge Research’s fundamental
score reflects a company’s profitability
and balance sheet strength, calculated based on historical numbers. The
valuation score determines if a stock is
attractively valued or not, also based
on historical numbers. A score of 3
suggests strong fundamentals and
attractive valuations. Go to www.
theedgemarkets.com for more details
on a company’s financial dashboard.
Mueller to instil new MAS culture
KUALA LUMPUR: The German boss
of the revamped Malaysia Airlines
(MAS) said he had been meeting
workers and engaging with former
union leaders, in a move to break
down strict hierarchy in the national airline.
In a report by The Sydney Morning Herald yesterday, Malaysia Airlines Bhd (MAB) chief executive
Christoph Mueller said he also
preferred a quiet transition rather than a “big-bang type”, as MAB
took over from Malaysian Airlines
System Bhd on Sept 1.
“It was deliberate that we didn’t
want to have a transition and a bigbang type (of change) from Aug 31 to
Sept 1,” said Mueller, the man tasked
with restructuring the airline.
Mueller said he and chief operating officer Peter Bellew had been
meeting workers at town hall meetings in their efforts to change the
company’s work culture.
The new company had earlier
this year axed some 6,000 workers
and made remaining staff sign new
contracts, despite stiff opposition
Mueller: MAS’ management was
very hierarchical in structure, and
that meant information could not be
disseminated effectively. Photo by The
Malaysian Insider
from the airline’s vocal union.
MAS had been suffering financial
losses, and reported more than RM1
billion in losses last year. That same
year, two major incidents involving the airline, the disappearance
of Flight MH370 and the shooting
down of Flight MH17 over Ukraine,
accelerated the company’s losses.
Mueller said MAS’ management
was “very hierarchical” in structure,
and that meant information could
not be disseminated effectively.
“So there are a lot of layers. Information is not travelling as fast
as you wish upstream and downstream,” he said.
He said he believed in engaging
with the union, adding that heading
a company without a strong union
was not a position of envy.
“A lot of people said, ‘Christoph, I
would love to be in your place’, particularly my colleagues from strongly
unionised airlines,” he says of the
lack of unions.
“But we didn’t take comfort in
that,” he said, adding that union representatives from the former MAS
were invited to meet with the top
management last week.
“I said you might be surprised, but
I would like you to elect work councils in December this year. I have in
mind that we work less hierarchical
and more as a team,” he told SMH.
— The Malaysian Insider
TRC Synergy bags RM61.59m Petronas Carigali contract
BY GHO CHEE Y UAN
KUALA LUMPUR: TRC Synergy
Bhd has bagged a RM61.59 million
contract from Petronas Carigali Sdn
Bhd to provide repair and maintenance of access roads and slope
stabilisation works within right of
way of the RM4.6 billion Sabah Sarawak Gas Pipeline (SSGP) project.
The SSGP project is part of the
Sabah-Sarawak Integrated Oil and
Gas project being developed by
Petroliam Nasional Bhd.
In a filing with Bursa Malaysia yesterday, TRC Synergy said its
wholly-owned subsidiary Trans Resources Corp Sdn Bhd was awarded the job by Petronas Carigali on
Sept 10.
The duration of the contract is
for two years until Sept 9, 2017,
with the option to extend for an
additional one year.
This is the second government
contract bagged by TRC Synergy
this year. Earlier in February, it had
secured a Scorpene refit infrastructure works at the Royal Malaysian
Navy submarine base at Sapangar
Bay, Kota Kinabalu in Sabah valued
at RM60 million.
TRC Synergy’s stock was untraded yesterday. It last closed at 34
sen last Friday, for a market capitalisation of RM160.97 million.
KUALA LUMPUR: Malayan Banking Bhd (Maybank), which has
launched its Yangon branch in Myanmar, sees lending and transaction banking as major contributors
to the revenue of its Myanmar operations within the next five years.
Maybank International chief
executive officer Pollie Sim said
lending will be driven mainly by
working capital financing and
transaction banking by Myanmar’s
growing international trade and
demand for cash management,
especially as projects are completed and operationalised.
“We believe that Maybank’s
success in Myanmar hinges on
the growth of Myanmar’s financial sector,” she said in a statement
yesterday.
Sim said the group’s focus will
be supporting wholesale and corporate clients as well as domestic
banks in Myanmar, with services
such as deposit accounts, working capital financing, transaction
banking, cash management, treasury and capital market solutions.
“We are well-positioned to
bring our experience and industry expertise to the table to develop project financing structures,
or help raise capital via regional
equity or debt markets,” she said.
“We will also be able to leverage
our balance sheet and offshore
financing capabilities to finance
large-scale projects and/or distribute them across our network,”
Sim added.
Sim noted that Myanmar is a
fast emerging nation with a target economic growth of 9.3% for
2015, driven by an unprecedented amount of foreign investment
and rapid expansion in its nascent
telecoms sector.
“Myanmar’s economy has undergone a major transformation
since 2012 and is now luring foreign direct investment (FDI) on
a larger scale. For 2014/2015, the
country received US$8.1 billion
(RM35.39 billion) in FDI which
was 25 times higher compared
with the US$329.6 million received
in 2009/2010,” she noted. “This
will not only drive the consumer
sector, but also demand for financial services which in turn
will be a major growth driver for
the country.”
The Maybank Yangon branch,
with capital of US$75 million, was
recently officiated by the deputy
governor of the Central Bank of
Myanmar, U Set Aung and deputy
governor of Bank Negara Malaysia, Datuk Muhammad Ibrahim.
Maybank chairman Tan Sri
Megat Zaharuddin Megat Mohd
Nor in his speech said Maybank
has been present in Myanmar for
the last 20 over years.
He said the coming into force of
the Asean Economic Community
at the end of this year is going to
change the economic landscape
in Asia.
1 0 P R O P E RT Y S NA P S H
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
T
Source: theedgeproperty.com
What’s affordable in Seri
Kembangan?
• Seri Kembangan has numerous high-rise residences. While the majority
of them consists of flats and apartments, there are also plenty of
upmarket properties, most of which can be found in Serdang Perdana to
take advantage of the views over the lakes in the Mines Resort City.
• Based on theedgeproperty.com’s analysis of transactions in the 12
months to 3Q2014, the average transacted price per square foot (psf)
was RM303 in 3Q2014, while the average transacted unit price was
RM245,000.
• The neighbourhood is fairly diverse. The RM200,001 – RM300,000 price
range accounted for the largest share of transactions (22.2%). There were
also many transactions in the mid-end segment with the RM400,001 –
RM500,000 price range accounting for 17.2% of transactions.
• By average transacted price per unit, The Sanderson, in Taman Bukit
Serdang, is the most expensive condominium with an average unit
transacting for RM537,000. Parc @ One South is the next most expensive,
with an average transacted unit price at RM512,000. The 3-bedroom
units here typically come in two sizes, 1,065 or 1,215 sq ft; with observed
average transacted prices at RM480,000 and RM550,000, respectively.
• Buyers wanting more space could consider Putra Indah Condominium
(RM437,000), where a typical 4-bedroom unit is as large as 1,600 sq ft.
• The least expensive projects are led by the low-cost flats and apartments
such as the Taman Desa Serdang Flats (RM61,000) and the Taman Sungai
Besi Indah Flats (RM 66,000).
The Analytics are based on the data available at the date of publication and may be subject to further revision as
and when more data is made available to us.
Seri Kembangan top 5 most expensive condominiums/apartments
by average transacted price
Source: theedgeproperty.com
Seri Kembangan top 5 least expensive condominiums/apartments
by average transacted price
For more of such information across Malaysia and Singapore, log on to the
theedgeproperty.com. The one-stop portal for all your property needs,
theedgeproperty.com offers price and transaction records, trend analysis,
research classifieds, and more – all for FREE!
GLCs urged to build more affordable housing
KUALA LUMPUR: The government has requested government-linked companies
(GLCs) such as UDA Holdings Bhd to build
more affordable housing for lower-income
earners living in Kuala Lumpur.
Deputy Finance Minister Datuk Johari Abdul Ghani said although the government could
not lend financial support to the GLCs, they
must carry out their social responsibilities to
ensure balanced development in the city area.
He said GLCs could use their profit to
develop affordable housing and purchase
undeveloped land for future development.
Johari was speaking to reporters after officiating at the launch of Anggun Residences,
a serviced apartment project by UDA here
on Saturday.
He said that land offered by the GLCs to
build public housing must be located within
the city centre where public transportation
is available.
“This is the main issue that the Urban
Wellbeing, Housing and Local Government
Ministry, 1Malaysia People’s Housing and
Syarikat Perumahan Negara Bhd are facing
because most of the land bank given [to the
agencies] is far away from the city centre, like
in Semenyih, Kajang and so on.
“Therefore, we will continue to work with
developers to enable us to meet the objective
of helping the lower-income earners to live
and work comfortably here,” he added.
Meanwhile, UDA group managing director
Datuk Ahmad Abu Bakar said Anggun Residences, situated in the heart of Kuala Lumpur
city centre, has a gross development value
(GDV) of RM400 million.
The 29-storey freehold apartment block
comprises 384 units of serviced apartments
in studio, one-bedroom, two-bedroom, twoplus-one-bedroom and three-plus-one-bedroom layouts. It is located on a 0.34ha land
parcel owned by UDA near Jalan Sultan Ismail,
scheduled for completion in 2017.
“Given the difficult market situation, we,
however, believe that this project will be successful as it is value for money, with build-up
[sizes] from 657 to 1,535 sq ft.
“In comparison with other high-end
properties in the area, Anggun Residences
is priced between RM1,300 and RM1,400 psf
(per square foot), which is competitive considering the development’s prime location,”
said Ahmad.
The company, which has about RM600
to RM800 million worth of GDV annually,
expects to be among the top 10 players in the
country by 2018. — Bernama
An artist’s impression of Anggun Residences, a
serviced apartment project by UDA, near Jalan
Sultan Ismail in Kuala Lumpur.
Frasers Property
Australia expands
into retail sector
KUALA LUMPUR: Frasers Property Australia, a unit of Frasers Centrepoint Ltd
(FCL), is launching a new retail business unit. The creation of a separate
retail business unit is a new initiative
under the leadership of Frasers Property Austalia’s new chief executive officer, Rod Fehring, who took over the
reins in August.
The new retail business will be headed
by Peri MacDonald, and will capitalise
on Frasers Property Australia’s strength
in developing mixed-use developments
with residential and retail components
such as Central Park and The Ponds. The
company also recently won the development rights for Edmonton Park Town
Centre, another mixed-use scheme with
retail components.
Assets developed in Australia, including retail properties, may be sold
to one of FCL’s real estate investment
trusts, thereby releasing capital for redeployment into new development or
investment opportunities, according to
the company in an announcement. —
theedgeproperty.com
GP Hotel Perth nominated to purchase properties for A$23.85m
BY TAY HOC K MENG
KUALA LUMPUR: Global Premium Hotels Ltd announced that its subsidiary GP
Hotel Perth WA had been nominated to
exercise the option to purchase the properties located at St Georges Terrace and
Pier Street in Perth, Australia, which had
originally been granted by the vendors to
a third party.
Approval to develop the property into
a hotel or various other uses has already
been obtained by the third party. GP Hotel Perth has been nominated to purchase
the property, including the development
approval for A$23.85 million (RM73.84
million). The exercise of option and settlement under the sale contract is pending,
and subject to various terms and conditions, including the necessary approval for
the purchase from the Australian Foreign
Investment Board.
The property sits on a freehold land area
of 2,600 sq m and is located in the prime
Perth central business district, facing the
prestigious St Georges Terrace and overlooking the Supreme Court Gardens, with
views towards Swan River. It is also close to
the renowned Murray and Hay Street Mall,
and is currently zoned “City Centre”. It can
potentially be redeveloped for various uses
including a hotel. — theedgeproperty.com
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
ST O C KS W I T H M O M E N T U M 11
www.theedgemarkets.com
This column is an analysis done by Asia Analytica Sdn Bhd on the fundamentals of stocks with momentum that were picked up using proprietary algorithm by
Anticipatory Analytics Sdn Bhd and that first appeared at www.theedgemarkets.com. Please exercise your own judgment or seek professional advice for your specific
investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
AJIYA BHD (-ve)
SHARES of little-known Ajiya (Fundamental:
2.1/3; Valuation: 2.0/3) continued to rise despite
absence of fresh news. The stock – picked by
our momentum algorithm for the third time
this month — closed 7.7% higher at RM3.34
yesterday.
Investors are probably expecting better
3QFYNov2015 earnings results for Ajiya, due
by the end of this month, following solid
1HFY2015 performance.
For 1HFY2015, revenue increased 6.4% y-o-y
to RM216.5 million while net profit jumped
AJIYA BHD
AJIYA BHD
29.2% to RM10.8 million, due mainly to improvement in profit margin of certain products.
To recap, Johor-based Ajiya manufactures
and sells safety glass and metal roll-forming
products used in the construction and building
industries. Approximately 95% of its FY2014
sales were from the domestic market with the
balance from Thailand.
In May, Singapore-based fund manager
Yeoman Capital Management Pte Ltd emerged
as a substantial shareholder with a 5.1% stake.
It has since increased its holdings to 5.8%.
Valuation score*
2.00
2.10
Fundamental score**
11.37
TTM P/E (x)
0.96
TTM PEG (x)
0.79
P/NAV (x)
0.97
TTM Dividend yield (%)
214.59
Market capitalisation (mil)
69.22
Shares outstanding (ex-treasury) mil
0.79
Beta
1.93-3.10
12-month price range
*Valuation score - Composite measure of historical return & valuation
**Fundamental score - Composite measure of balance sheet strength
& profitability
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
LCTH CORPORATION BHD (-ve)
SHARES of cash-rich LCTH (Fundamental:
2.7/3, Valuation: 1.4/3) rose 3.8% to close at
68 sen yesterday. Since it was first picked
by our momentum algorithm on Mar 2, the
stock has jumped a staggering 96%.
LCTH is involved in the manufacture and
sub-assembly of precision plastic parts and
components. It also fabricates precision
moulds and dies. The stock has net cash of
RM105.8 million or 29.4 sen per share. This
equates to 44.9% of its market capitalisation.
LCTH CORPORATION BHD
The company’s focus on higher margin
jobs appears to have paid off. For 1H2015,
net profits surged 90.8% to RM8.3 million
despite revenue dropping 9.3% to RM59.2
million. The weakening ringgit also benefited the company as 58% of its FY2014 sales
were denominated in foreign currencies.
SGX-listed Fu Yu Corporation Limited
ultimately owns 70.6% of LCTH. The stock
trades at 1.2 times book and an undemanding ex-cash P/E of 7.7 times.
Valuation score*
1.40
2.70
Fundamental score**
13.98
TTM P/E (x)
0.13
TTM PEG (x)
1.21
P/NAV (x)
0.76
TTM Dividend yield (%)
235.80
Market capitalisation (mil)
Shares outstanding (ex-treasury) mil 360.00
1.55
Beta
0.22-0.69
12-month price range
*Valuation score - Composite measure of historical return & valuation
**Fundamental score - Composite measure of balance sheet strength
& profitability
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
MQ TECHNOLOGY BHD (-ve)
MQTECH (Fundamental: 0.95/3, Valuation:
0.3/3) rose 13.0% to close at 13 sen yesterday
on heavy volume.
Last month, the company fixed the issue
price for its private placement of 10% at 10
sen each. Proceeds from the issuance of up
to approximately RM2.54 million would be
used for working capital requirements.
Principally involved in high precision
mould making and manufacturing hard disk
drive (HDD) components, MQTech is lookMQ TECHNOLOGY BHD
ing to diversify into non-HDD businesses.
In February, it entered into a Heads of
Agreement to form a 51:49 JV with Cash Support Sdn Bhd to develop a 10.7-acre land in
Melaka into a theme park. The expiry date of
the agreement was extended to October 27.
For 1H2015, revenue grew 73.5% y-y to
RM9.1 million due to increased sales from a
major customer. Net loss narrowed to RM0.9
million from RM3.9 million a year ago, on
higher sales and cost reduction measures.
Valuation score*
0.30
0.95
Fundamental score**
TTM P/E (x)
TTM PEG (x)
1.30
P/NAV (x)
TTM Dividend yield (%)
32.08
Market capitalisation (mil)
Shares outstanding (ex-treasury) mil 278.98
1.04
Beta
0.07-0.17
12-month price range
*Valuation score - Composite measure of historical return & valuation
**Fundamental score - Composite measure of balance sheet strength
& profitability
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
(ALL FIGURES IN MYR MIL)
Financials
Turnover
EBITDA
Interest expense
Pre-tax profit
Net profit - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
AJIYA BHD
RATIOS
DPS ($)
Net asset per share ($)
ROE (%)
Turnover growth (%)
Net profit growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
LCTH CORPORATION BHD
(ALL FIGURES IN MYR MIL)
Financials
Turnover
EBITDA
Interest expense
Pre-tax profit
Net profit - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
LCTH CORPORATION BHD
RATIOS
DPS ($)
Net asset per share ($)
ROE (%)
Turnover growth (%)
Net profit growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
MQ TECHNOLOGY BHD
(ALL FIGURES IN MYR MIL)
Financials
Turnover
EBITDA
Interest expense
Pre-tax profit
Net profit - owners of company
Fixed assets - PPE
Total assets
Shareholders' fund
Gross borrowings
Net debt/(cash)
MQ TECHNOLOGY BHD
RATIOS
DPS ($)
Net asset per share ($)
ROE (%)
Turnover growth (%)
Net profit growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
FY12
FY13
FY14
FY2015Q2
30/11/2012
30/11/2013
30/11/2014
31/5/2015
379.2
37.1
0.6
29.3
17.1
144.4
295.4
228.4
17.6
(16.6)
391.9
41.6
1.3
33.1
19.2
168.6
332.5
245.0
25.8
(4.9)
412.5
37.2
2.0
26.7
15.4
185.9
349.2
258.7
38.5
10.3
111.7
12.5
0.4
9.7
6.1
188.1
368.7
271.3
40.2
9.5
FY12
FY13
30/11/2012
30/11/2013
30/11/2014
FY14 ROLLING 12-MTH
0.02
3.30
7.73
4.53
(16.71)
4.51
5.94
3.20
67.30
0.03
3.54
8.11
3.34
12.09
4.90
6.11
3.21
31.83
0.02
3.74
6.11
5.26
(19.81)
3.73
4.51
2.99
3.99
19.01
0.03
3.92
7.40
5.82
11.87
4.43
5.45
3.19
3.49
22.30
FY12
FY13
FY14
FY2015Q2
31/12/2012
31/12/2013
31/12/2014
30/6/2015
287.4
(20.2)
0.0
(27.9)
(23.5)
38.4
159.8
158.4
(54.6)
206.6
20.1
0.0
16.9
15.8
18.8
175.3
174.2
(107.9)
126.1
15.3
0.0
12.3
12.9
41.7
188.2
187.1
(98.6)
33.1
6.1
0.0
5.9
4.5
47.6
196.4
195.4
(105.8)
FY12
FY13
31/12/2012
31/12/2013
31/12/2014
0.44
(13.79)
147.11
(8.17)
(13.65)
3.04
(3,538.63)
0.48
9.50
(28.12)
7.65
9.44
4.87
4,573.05
0.52
7.14
(38.98)
(18.34)
10.24
7.10
4.44
5,462.44
FY14 ROLLING 12-MTH
0.01
0.54
9.26
(28.01)
109.91
14.05
9.21
4.34
10,060.00
FY12
FY13
FY14
FY2015Q2
31/12/2012
31/12/2013
31/12/2014
30/6/2015
27.2
(3.5)
0.4
(19.6)
(19.4)
25.1
34.3
30.7
6.6
(5.2)
20.6
(2.6)
0.3
(8.2)
(8.2)
20.1
24.0
22.2
3.6
(2.9)
13.8
(2.5)
0.3
(7.0)
(7.0)
26.4
31.7
25.2
6.4
1.5
4.0
(0.0)
0.2
(0.9)
(0.9)
26.2
31.3
24.6
5.8
3.5
FY12
FY13
31/12/2012
31/12/2013
31/12/2014
0.13
(47.53)
1.88
(71.48)
(44.38)
2.19
(9.66)
0.10
(30.81)
(24.41)
(39.69)
(28.00)
1.78
(9.19)
0.10
(29.67)
(32.71)
(50.83)
(25.26)
2.11
5.86
(8.70)
FY14 ROLLING 12-MTH
0.09
(17.15)
44,264.73
(0.08)
(14.61)
2.48
14.39
(0.03)
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
1 2 I N V E ST I N G I D E A S
BROUGHT TO YOU BY
www.theedgemarkets.com
I N S I D E R A S I A’S S TO C K O F T H E D AY
PSAHAAN SADUR TIMAH MSIA BHD
PERSTIMA (Fundamental: 2.35/3.0, Valuation:2.4/3.0) was first featured as one of our
stock picks in June 2015, when its share price was
RM4.24. The stock subsequently rose as high as
RM4.58, before retracing to RM4.55 currently.
We are highlighting Perstima again for its
consistent dividend stream and above market
average yields. The stock is a good defensive
choice having demonstrated low share price
volatility, historically.
Whilst profits have gyrated over the past few
years amid challenging operating conditions — it
faces competition from tinplate imports from China
and South Korea — dividends have been remarkably steady, supported by strong balance sheet.
Dividends were maintained at 30 sen per share
in FYMar2011-FY13 and raised to 35 sen per share
in FY14-FY15. In FY15, dividends were equivalent to
a payout ratio of 82% and give shareholders a generous net yield of 7.7% at the prevailing share price.
The company generates positive free cash-
PSAHAAN SADUR TIMAH MSIA BHD
flow every year — with capex ranging from RM8
million to RM36 million annually in the past five
years. This has translated into a gradually bigger
cash pile — from RM36 million in FY11 to RM136
million as at end-June 2015. To put it in perspective, Perstima is able to sustain current dividends
for the next four years based on its cash pile alone.
To recap, Perstima is the country’s sole manufacturer of tinplate used in various forms of
packaging, for liquid milk, processed food, dry
food, paint, motor oil, beer, beverage and edible
oil, amongst others.
For the latest 1QFY2016, net profit rose 62%
y-y to RM9.3 million on the back of higher sales
volume and better profit margins. Revenue was
up 6.3% y-y to RM158.3 million. The company
might have benefited from lower prices of steel,
one of its main raw materials.
Valuations are modest — the stock is trading
at trailing 12-month P/E of 9.85 times and 1.26
times book value of RM3.64.
Valuation score*
2.40
2.35
Fundamental score**
9.85
TTM P/E (x)
0.50
TTM PEG (x)
1.26
P/NAV (x)
7.64
TTM Dividend yield (%)
454.82
Market capitalisation (mil)
99.30
Shares outstanding (ex-treasury) mil
0.43
Beta
3.54-4.58
12-month price range
*Valuation score - Composite measure of historical return & valuation
**Fundamental score - Composite measure of balance sheet strength
& profitability
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
Looking for
diamonds in
the rough?
Our challenge at The Edge Research
is to discover undervalued stocks and
separate the wheat from the chaff.
Would you like to join us on the quest?
We are looking for bright young minds
to join our research team.
Fresh graduates are most welcome to apply.
If you are interested, please send your rèsumè to:
The Manager, Human Resource Department
Email: [email protected] Fax: 603-7721 8008
Only shortlisted candidates will be notified
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own
judgment or seek professional advice for your specific investment needs. We are not responsible for your investment
decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
PSAHAAN SADUR TIMAH MSIA BHD
(ALL FIGURES IN MYR MIL)
Income Statement
Turnover
EBITDA
Depreciation
EBIT
Associates
Interest income
Interest expense
Extraordinary gain/(loss)
Pre-tax profit
Net profit - owners of company
Balance sheet
Fixed assets - PPE
Biological assets
Intangibles & goodwill
Cash and equivalents
Total current assets
ST borrowings
Total current liabilities
Total assets
Shareholders' fund
Long term borrowings
PSAHAAN SADUR TIMAH MSIA BHD
RATIOS
DPS ($)
Net asset per share ($)
ROE (%)
Turnover growth (%)
Net profit growth (%)
Net margin (%)
ROA (%)
Current ratio (x)
Gearing (%)
Interest cover (x)
FY13
FY14
FY15
FY2016Q1
31/3/2013
31/3/2014
31/3/2015
30/6/2015
655.5
48.3
16.9
31.4
2.0
0.5
32.9
26.7
650.8
66.2
18.4
47.9
3.2
0.3
50.7
40.7
656.9
75.3
20.6
54.7
2.8
0.3
57.2
42.6
158.3
15.5
5.1
10.4
1.3
0.0
11.7
9.3
115.3
109.3
266.0
12.9
57.2
324.5
319.3
-
104.7
92.2
280.1
9.1
50.3
334.6
330.1
-
104.8
126.9
307.4
12.0
55.3
357.0
351.8
-
99.9
143.8
307.7
7.8
40.9
366.8
361.8
-
FY13
FY14
31/3/2013
31/3/2014
31/3/2015
FY15 ROLLING 12-MTH
0.30
3.21
8.38
(18.16)
(24.17)
4.07
8.25
4.65
104.71
0.35
3.32
12.52
(0.73)
52.40
6.25
12.34
5.57
224.51
0.35
3.54
12.50
0.95
4.79
6.49
12.32
5.56
243.59
0.35
3.64
13.83
2.94
19.54
6.93
13.64
7.52
250.96
T U E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
HUNTING
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T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
14 B R O K E R S’ C A L L
BToto dividend
yield to support
share price
Puncak Niaga to distribute special
dividend by 1Q16
Puncak Niaga Holdings Bhd
FYE DEC 31 (RM MIL)
THE EDGE FILE PHOTO
Berjaya Sports Toto Bhd
(Oct 5, RM3.13)
Maintain hold with lower target price (TP) of RM3.10 from
RM3.16: In view of lacklustre industry prospects and absence of
near-term rerating catalysts, Berjaya
Sports Toto (BToto) is fairly valued
at this juncture.
Earnings prospects for number
forecast operators (NFOs) will continue to be dampened by full absorption of the goods and services
tax costs; they will not pass that on
by lowering prize payouts.
Further, the slow discretionary
consumer spending, the presence
of illegal NFOs and regulatory risks Berjaya Sports Toto Bhd
will also weigh down their earnings.
The introduction of new game FYE APR (RM MIL)
2014A
2015A
variants could bring excitement to Revenue
4,341
5,288
the sector, but we do not foresee any Ebitda
575
541
such announcements in the near
Pre-tax profit
510
534
term. We nudged down earnings
329
362
by 3% after some housekeeping Net profit
(pre
ex)
364
344
Net
profit
adjustments. Despite the sluggish
24.5
27.3
growth prospects, the decent divi- EPS (sen)
dend yield will continue to support EPS pre ex (sen)
27.1
25.9
the share price.
(16)
11
EPS growth (%)
The group’s strong cash-flow EPS growth pre ex (%)
(3)
(5)
generation capability and healthy
27.1
25.9
Diluted EPS (sen)
balance sheet allow it to consist(sen)
26.5
20.6
Net
DPS
ently pay out 80% or more of net
(sen)
46.5
51.6
BV
per
share
profit, which implies at least a 6%
(x)
12.5
11.3
PER
dividend yield.
Post-earnings adjustment, we PER pre ex (x)
11.3
11.9
trimmed TP for the group to RM3.10 P/cash flow (x)
10.7
10.4
from RM3.16, based on the divi- EV/Ebitda (x)
7.7
8.2
dend discount model.
8.6
6.7
Net dividend yield (%)
Key risks to our view include the
(x)
6.6
5.9
P/BV
steeper-than-expected decline in
0.3
0.4
ticket sales with rising competition Net debt/equity (x)
(%)
55.1
55.3
ROAE
and weaker consumer sentiment.
— AllianceDBS Research, Oct 5.
Source: Source of all data: Company, AllianceDBS, Bloomberg Finance LP
Revenue
Operating Ebitda
Net profit
Core EPS (RM)
Core EPS growth (%)
FD Core P/E (x)
EV/Ebitda (x)
P/FCFE (x)
Net gearing (%)
P/BV (x)
ROE (%)
CIMB/consensus EPS (x)
2013A
2014A
2015F
2016F
2017E
1,147
162.5
200.9
0.49
(21.4)
5.42
14.90
1.55
75.1
0.61
12.0
-
607
(15.7)
248.4
0.60
23.6
4.39
na
na
(11.3)
0.52
12.9
-
625
21.1
254.9
0.62
2.6
4.27
38.40
4.79
(13.1)
0.52
12.2
1.22
681
47.0
264.3
0.64
3.7
4.12
17.18
4.35
(13.3)
0.52
12.5
1.31
715
49.3
275.4
0.67
4.2
3.96
16.27
4.49
(13.5)
0.52
13.0
0.99
Source: Company data, CIMB forecasts
2016F
2017F
5,255
548
519
352
352
26.5
26.5
(3)
2
26.5
20.8
57.3
11.6
11.6
10.2
7.8
6.8
5.4
0.2
48.7
5,290
554
534
362
362
27.3
27.3
3
3
27.3
21.4
63.2
11.2
11.2
10.2
7.6
7.0
4.9
0.0
45.3
Puncak Niaga Holdings Bhd
(Oct 5, RM2.71)
Upgrade to add from hold, with
a higher target price of RM3.40
from RM2.55: The Selangor state
government has ensured that
the conditions precedent for the
RM1.6 billion sale and purchase
agreement with Puncak Niaga
Holdings will be met and completed by the deadline on Oct 15.
It stressed that there will be
no more delays and that Puncak
Niaga’s two water operations will
come under Pengurusan Air Selangor Sdn Bhd by then. The state
government is currently finalising
some technical issues.
This news is positive and
should put to rest additional concerns regarding how fast Puncak
Niaga’s RM1.6 billion water deal
can be revived following the signing of the supplementary agreement between the federal and
Selangor state governments on
Sept 8.
Going by the recent developments leading up to this news,
there are now credible reasons to
anticipate a successful completion
of Puncak Niaga’s deal by Oct 15,
being the latest extension. Further
delays are highly unlikely.
The RM1.6 billion combined
valuation offered by the state government for Puncak Niaga’s 100%
stake in Puncak Niaga Sdn Bhd
(water treatment concession) and
There are now
credible reasons
to anticipate
a successful
completion of Puncak
Niaga’s deal by Oct 15
70% stake in Syarikat Bekalan Air
Selangor Sdn. Bhd (water distribution concession) remains unchanged and accepted by Puncak.
With the final stage of the state’s
first water acquisition deal underway in the next one to two weeks,
Puncak Niaga will be exiting its
water business and focusing on
its oil and gas, and construction
outfits.
Our earnings per share forecasts are retained pending the
completion of the deal.
Recall that Puncak Niaga’s
board had long ago approved a
bumper special dividend arising
from the RM1.6 billion cash proceeds, which translates into RM1
per share.
Assuming that the SPA can be
completed and finalised by endOct, the management earlier guided that Puncak Niaga should be
able to announce and distribute
the special dividends within fourth
quarter of 2015 (4Q15) or 1Q16
the latest.— CIMB Research, Oct 5
Mah Sing earnings visibility remains solid
Mah Sing Group Bhd
(Oct 5, RM1.28)
Maintain buy with an unchanged
fair value of RM2.12: According to
The Edge Weekly, Mah Sing Group
is set to launch the second phase
of its Feringghi Residence project
in Penang by year end.
Feringghi Residence is a freehold development that comprises
low-rise condo villas and high-rise
resort condos on 61 acres (24.68ha)
of elevated land in Batu Feringghi.
The gated development is to be
developed in three phases. The
parcel of land was bought in 2010,
and is strategically located along
the famed Batu Feringghi tourist
belt and 1km away from Hard Rock
Hotel Penang.
Phase 1 of Feringghi Residence
(approximately 11 acres) was
launched in the fourth quarter of
2012 (4Q12). It consists of 210 apart-
Mah Sing Group Bhd
FYE DEC (RM MIL)
ments with built-ups of 1,510 sq ft
to 1,752 sq ft in a five-storey block,
and priced between RM870, 000
and RM1.4 million a unit. To date,
more than 90% of these units have
been sold.
As for the upcoming Feringghi
Residence 2, a total of 632 units
will be on offer in three blocks of
four, 10 and 32 storeys. The aver-
Revenue
Core net profit
FD core EPS (sen)
FD core EPS growth (%)
Consensus net profit
DPS (sen)
PER (x)
EV/Ebitda (x)
Div yield (%)
ROE (%)
Net gearing (%)
2014
2015F
2016F
2017F
2,904.7
339.2
19.6
18.5
5.2
6.5
8.3
3.6
16.1
37.3
3,127.0
375.7
13.3
(32.1)
335.9
5.0
9.5
6.1
3.5
13.7
6.1
3,369.3
397.4
14.0
5.4
396.9
6.0
9.0
5.8
4.2
12.0
8.9
3,493.3
428.1
15.1
7.2
463.9
6.0
8.4
5.7
4.2
12.0
16.1
Source: AmResearch
age built-ups will be smaller than
that of the first phase, ranging from
1,208 sq ft to 1,565 sq ft.
The third phase will comprise
410 resort condominiums, 80 town
villas and 32 hillside villas. The gross
development value for Feringghi Residence 2 is approximately
RM700 million or RM700 per sq ft
to RM750 per sq ft.
We expect Feringghi Residence 2
to be one of only two new launches
for Mah Sing in Penang this year,
given the soft market conditions.
The Penang market accounts for
6% of the group’s revised presales
target of RM2 billion for FY15.
We understand that Feringghi
Residence 2 received 600 registrations within two weeks during
a preview held last July. Given its
smaller built-ups, we believe the
average pricing per unit could be
lower than that of phase 1.
While we expect Feringghi Residence 2 to be similarly well-received given its strategic location
and low-density features, we expect
the conversion into sales to take
longer compared with phase 1.
While presales momentum will
likely be muted in the near term,
earnings visibility remains solid
with a remaining GDV of RM26
billion and unbilled sales of RM4.8
billion. — AmResearch, Oct 5
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
B R O K E R S’ C A L L 15
Perisai may delay delivery
of its second rig to 1H16
Perisai Petroleum Teknologi Bhd
(Oct 5, 34 sen)
Maintain hold with an unchanged
target price of 30 sen: Perisai Petroleum Teknologi Bhd (Perisai) has
agreed with Petronas Carigali Sdn
Bhd to farm out the drilling contract
for its Perisai Pacific 101 jack-up rig
to Hess Exploration and Production
Malaysia (Hess) for a duration of nine
months with an extension period of
up to one month for US$26.9 million
(RM117.55 million).
Perisai Pacific 101 has been operating under Petronas Carigali since
mid-2014 for a three-year contract duration. The farm-out commenced on
Sept 23, 2015 and will be reassigned
to Petronas Carigali at the end of the
farm-out period.
The farm-out contract value translates into a daily charter rate (DCR)
of US$98,000 per day, an implied
31% discount to the initial DCR of
US$144, 000 per day.
This is in line with the existing
average charter rate of US$90,000 to
Perisai Petroleum Teknologi Bhd
FYE DEC (RM MIL)
Revenue
Ebitda
Ebit
PBT
Patami
EPS (sen)
PER (x)
BV
P/BV
ROA (%)
ROE (%)
2013
2014
2015E
2016E
111.7
41.8
41.8
38.0
71.8
7.9
4.2
0.8
0.4
4.7
8.4
122.1
56.6
9.5
31.8
17.7
1.5
22.6
0.7
0.5
0.9
2.0
328.8
157.6
61.5
18.9
13.0
1.1
30.6
0.7
0.5
0.5
1.4
480.1
205.3
99.2
50.1
44.2
3.7
9.0
0.7
0.5
1.7
4.7
Source: HLIB Research
US$110,000 per day after the plunge
in crude oil prices.
There are no changes to our earnings as we understand that its Perisai Pacific 101 rig is already at a discounted rate to its customer since
April 2015.
The farm-out contract will help to
sustain its utilisation rate as Petronas
continues to reduce capital expenditure and operating expenditure amid
a low crude oil price environment.
At the current rate of about
US$100,000 per day, earnings before interest, taxes, depreciation, and
amortisation remain positive but in
order to be profit and loss positive,
we estimate utilisation rate needs to
Kimlun confident of getting
RM700m new contracts in FY15
Kimlun Corp Bhd
(Oct 5, RM1.30)
Maintain outperform with unchanged target price of RM1.63:
Kimlun Corp Bhd (Kimlun) is the
only contractor under our coverage with its first half 2015 (1H15)
results coming in better than expected due to execution of higher
margin construction projects, as
most of the lower margin projects
were completed in first quarter 2015
(1Q15) and better manufacturing
margin from tunnel lining segment
and jacking pipe sales order.
Year-to-date (YTD), the group’s
estimated outstanding order books
for construction and manufacturing are RM1.15 billion and RM0.22
billion respectively.
In terms of YTD new contracts,
Kimlun has clinched RM554 mil-
lion worth of new contracts, which
is on track with our full-year new
contracts assumption of RM700
million.
Management is still confident
of achieving RM700 million of new
contracts for financial year 2015
(FY15) and we believe the target
is achievable, given that 80% of its
target was achieved in 1H15.
However, management has
a slightly conservative target of
RM500 million to RM600 million
new contracts for FY16, excluding
public sector projects, namely Mass
Rapid Transit Line 2 (MRT2) and
the Refinery and Petrochemical
Integrated Development project
(Rapid) given that building construction jobs are slowing down.
This is in line with our FY16 new
contracts assumption of RM550
Kimlun Corp Bhd
FYE DEC (RM MIL)
Turnover
Ebit
PBT
Net profit (NP)
Core net profit
Consensus (NP)
Core EPS (sen)
Core EPS growth (%)
NDPS (sen)
BV/Share (RM)
Core PER
P/BV (x)
Net gearing (x)
Dividend yield (%)
Source: Kenanga Research
2014A
2015E
2016E
1,206.4
67.1
59.8
44.6
33.8
n.a
11.3
-25.7
3.8
1.33
10.9
0.9
0.3
3.1
1,208.5
77.8
67.7
50.8
50.8
49.7
16.9
50.0
4.0
1.46
7.3
0.8
0.3
3.3
1,239.7
84.8
72.6
54.5
54.5
50.5
18.1
7.0
4.0
1.59
6.8
0.8
0.2
3.3
million, whereby we expect contracts to be secured from public
infrastructure and MRT Line 2 projects.
On top of that, Kimlun’s current tender book stands at RM1
billion mainly from affordable
housing and infrastructure-related projects.
To date, Kimlun has secured
RM108 million worth of manufacturing orders, which met our forecast of RM100 million and is fairly
close to management’s FY15 higher
target of RM120 million.
Looking forward to FY16, while
we do not have management’s
guidance on manufacturing numbers, we expect RM200 million
new orders for the manufacturing segment, as we expect higher
orders to come from public infrastructure and MRT2 projects,
which are likely to be announced
in 2016.
Moreover, management guided
that its Senawang plant is currently
running at 30% to 40% utilisation
rate. Assuming the execution of
Thomson Line coincides with the
MRT2 project, it will boost the utilisation rate to 60% to 70%, which
is still manageable for the group.
Management is expecting better margins this year as capital
expenditure had been invested
previously in the construction of
high-rise building projects, better
manufacturing margins from Singapore projects and engagement
of more experienced subcontractors. — Kenanga Investment Bank
Research, Oct 5.
Perisai Pacific 101 has been operating under Petronas Carigali since mid-2014 for a
three-year contract duration.
be as high as 85%.
If we take into account the interest
expense and principal repayment,
cash flow is likely to be negative at
the current average charter rate of
US$100,000 per day.
Worldwide newbuild order book is
130 units or 27% of the existing fleet of
480 units. In order to adjust to the over-
supply situation, the industry needs
a higher level of scrapping activities.
Given the current soft market, we
expect Perisai to delay the delivery of
its second rig from August 2015 to first
half of 2016 (1H16), which will provide more time to search for potential
contracts before delivery. — Hong Leong Investment Bank Research, Oct 5.
Axiata Group Bhd
FYE DEC 31 (RM MIL)
2013A
2014A
2015F
2016F
2017F CAGR (%)
Revenue
18,370.8 18,711.8 18,416.9 19,219.4 19,464.6
Operating profit
4,095.5 3,461.5 3,440.0 3,948.4 4,201.9
Pre-tax profit
3,533.0 3,114.5 3,246.6 3,755.4 3,981.9
Core net profit
2,648.0 2,239.0 2,337.6 2,696.4 2,859.0
30.8
26.1
27.2
31.4
33.3
EPS (sen)
18.8
22.2
21.3
18.5
17.4
PER (x)
22.0
22.0
23.7
28.3
30.6
DPS (sen)
3.8
3.8
4.1
4.9
5.3
Dividend yield (%)
1.5
0.6
3.0
1.9
1.9
-
Source: Company, PublicInvest research estimates
Axiata acquiring Tower Co
in Myanmar for US$125m
Axiata Group Bhd
(Oct 5, RM5.97)
Maintain neutral with an unchanged target price of RM6.50:
Axiata Group Bhd’s (Axiata) wholly-owned subsidiary, edotco, announced the acquisition of a 75%
equity interest in Digicel Asia Holdings, the parent company of Digicel
Myanmar Tower Company (MTC)
for US$125 million (RM546.25 million) cash.
The acquisition cost is derived after adjusting for external borrowing
and other working capital requirement. MTC currently owns 1,250
towers, suggesting a cost per tower
of about US$100,000. In our view,
the acquisition cost seems to be fair
considering that XL Axiata (66.5%
subsidiary) sold its tower assets for
US$131,000 per tower a year ago.
On our estimate, a three-legged tower could cost around RM400,000 to
RM450,000 in Malaysia.
This acquisition would enable
edotco to expand and penetrate the
Myanmar market while maintaining
its position as the premier infrastructure provider to the Southeast Asian
telecoms industry.
The Myanmar market is largely
untapped with low mobile penetration, having favourable regulatory
framework and high reliance on tower and infrastructure sharing. This
should provide significant potential
for edotco’s business.
Funding should not be an issue
given our estimate of Axiata’s low
gross debt to earnings before interest,
taxes, depreciation and amortisation
of 1.8 times. However, we do not expect any material earnings impact
arising from this acquisition.
Currently, earnings contribution
from edotco is still insignificant relative to Axiata’s core businesses. Nevertheless, we do not rule out the possibility of Axiata acquiring telco assets
in Myanmar in the future.
Edotco manages over 14,000 towers across its countries of operations
including Malaysia, Bangladesh,
Cambodia, Sri Lanka and Pakistan.
In all countries managed by edotco,
there has been improvement in operational efficiency and capital expenditure savings on infrastructure, land
and energy. MTC is expected to boost
edotco’s tower assets by about 9%. —
Public Investment Bank Bhd, Oct 5.
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
16 H O M E
Umno monitoring seven
leaders for possible action
With possibility of disciplinary action against them, says Tengku Adnan
BY MELATI A JALIL
KUALA LUMPUR: Seven Umno
leaders are being monitored, with
the possibility of disciplinary action
to be taken against them, Umno
secretary-general Datuk Seri Tengku Adnan Tengku Mansor said yesterday.
He did not elaborate who they
are or why they are being monitored, but has made this disclosure
when answering questions about
whether the ruling Malay party
would take action against former
prime minister Tun Dr Mahathir
Mohamad, who has repeatedly
called for Prime Minister Datuk
Seri Najib Razak’s resignation.
“We have seven leaders that we
monitor. If there is a necessity to
take action [against them], we will
send the investigation papers to
the disciplinary board,” Tengku
Adnan said in a media conference
in Kuala Lumpur.
A prominent Umno member,
who has landed into trouble with
the party recently is former deputy
minister Datuk Saifuddin Abdullah,
who was censured and issued a
show-cause letter for attending a
meeting of opposition parties and
civil society organisations, when
the new opposition pact Pakatan
Harapan was announced.
On Dr Mahathir’s attacks against
Najib, Tengku Adnan said the retired statesman was entitled to his
views, but the media should stop
pitting leaders against each other.
“Don’t pit new and old leaders,
enough is enough,” he said.
Tengku Adnan also said former
leaders should not comment on the
current administration’s problems,
adding that the statement by former
MCA president Tun Dr Ling Liong
Sik that Najib should step down
would not weaken the prime minister, but instead strengthen him.
“We do not want outsiders to
intervene, enough is enough, we
know how to handle problems.”
Besides calling for Najib to resign, Dr Mahathir had urged Barisan Nasional lawmakers to back a
no-confidence vote if it was tabled
in Parliament.
The former prime minister renewed his call for Najib’s resignation at a high-tea event last Saturday
hosted by Umno’s Pusat Bandar
Taman Cempaka branch.
Tengku Adnan said the branch
would be asked to explain why it
had invited Dr Mahathir to speak.
— The Malaysian Insider
‘S’wak might end up with two opposition blocs’
BY D ESMON D DAV IDSON
KUCHING: Sarawak DAP warned
yesterday that the state might end
up with two opposition blocs, one
with PKR and PAS, and the other with DAP and Parti Amanah
Negara, state chief Chong Chieng
Jen said.
He felt this scenario is possible despite PKR’s declaration of
its readiness to work with DAP and
Amanah in the new Pakatan Harapan pact in the state election, expected next year.
“It all depends very much on the
decision by PKR’s national leaders,”
Chong said, referring to the differences of opinion within PKR on the
timing of Pakatan Harapan.
Some in PKR feel the new pact
should be formed now, while continuing to engage with PAS, which
has refused to join in. Others feel
Pakatan Harapan should be delayed
as long as talks with PAS are on.
“It’s possible [to have two
blocs]. Very dependent on the
[PKR] national leaders’ decision,”
Chong told reporters at a new
conference in Kuching.
“But that’s not what we want.”
Chong said PAS has no place
in the new pact, a position he said
both DAP and Amanah are “strong
and firm on”.
“DAP will totally eliminate any
intention to get PAS into the new
coalition,” Chong added.
PAS has refused to join Pakatan
Harapan as it has fallen out with
DAP and rejects Amanah, which it
labels as “traitors”, being a splinter
party from PAS.
The new opposition front in Sar-
awak is expected to face difficulties
as DAP and PKR leaders do not see
eye to eye amid accusations that
DAP is attempting to claim seats
allocated to PKR.
Sarawak PKR chief Baru Bian
said that the state PKR will be part
of Pakatan Harapan, but added that
he would not make the first move to
break frosty ties with the state DAP.
In his statement on Saturday,
he said he expected to “resume
our seat negotiations with DAP
and Amanah in Sarawak”. — The
Malaysian Insider
Port Dickson, Langkawi among 17 places with unhealthy API
KUALA LUMPUR: Tourist destinations Langkawi and Port Dickson
were among 17 locations recording
unhealthy Air Pollutant Index (API)
readings as at 3pm yesterday.
According to the Department
of Environment (DoE) portal, both
locations recorded API readings of
156 and 101 respectively.
Other areas facing a similar situation were Universiti Sains Malaysia, Penang (142); Seberang Jaya
2, Prai (141); Kampung Air Putih,
Taiping (136); Alor Setar (131); Sekolah Kebangsaan Jalan Pegoh,
Ipoh (129); and Prai and Bakar
Arang, Sungai Petani (all 125).
Also experiencing the same unhealthy API category were Seri
Manjung, Perak (121); Kangar,
Perlis (119); Melaka City, Melaka (111); Bukit Rambai, Melaka
(109); Jalan Tasek, Ipoh (107); Kuala Selangor (106); Shah Alam, Selangor (103) and Pasir Gudang,
Johor (101).
A total of 25 areas recorded moderate air quality — among them
Port Klang (99); Banting, Selangor (96); Batu Muda, Kuala Lumpur (95); Petaling Jaya (91); SMK
IN BRIEF
MH370 — Malaysia proposes tripartite meeting
SEPANG: Malaysia has proposed a tripartite meeting
among transport ministers of
Malaysia, China and Australia soon to work out the details
and direction of the search for
Malaysia Airlines flight MH370.
Director-general of the Department of Civil Aviation Datuk Seri
Azharuddin Abdul Rahman said
the three countries are committed until next year in the search
for MH370 which was lost in
the Indian Ocean. “We are now
coordinating with the transport
ministers of China and Australia
... if possible, we want to do it
as quickly as possible but it depends on the situation and time
of the ministers concerned,” he
told reporters here yesterday.
— Bernama
Hospital Shah Alam opens
after four-year delay
SHAH ALAM: After a 10-year
wait with delays in construction, Hospital Shah Alam finally
opened its doors to its first patient yesterday, Health Ministry director-general Datuk Dr
Noor Hisham Abdullah said.
Noor Hisham announced the
news through his Twitter account @DGHisham around
11am yesterday. “Hospital Shah
Alam received its first patient
this morning,” he tweeted. The
construction of the hospital in
Section 7, Shah Alam, began
on Nov 15, 2007, but failed to
meet its scheduled completion
by 2011, leading to the appointment of a new contractor. — The
Malaysian Insider
Sec-gen: Questioning
show-cause letter crazy
KUALA LUMPUR: Umno secretary-general Datuk Seri Tengku
Adnan Tengku Mansor said it
was “crazy” for former Umno
Supreme Council member
Datuk Saifuddin Abdullah to
question the show-cause letter issued to Saifuddin for attending a dialogue involving
opposition parties. He said the
party had received Saifuddin’s
reply, which has been given to
the party’s lawyer and will be
forwarded to Umno’s disciplinary board. “He replied and he
questioned me. We question
him, and he questions us, isn’t
that crazy?” — The Malaysian
Insider
Bad products, services
cost consumers RM70m
A plane at the Kuala Lumpur International Airport being shrouded in haze as bad air quality continued to plague the country
yesterday. Photo by Bernama
Tanjung Chat, Kota Baru and Kota
Tinggi, Johor (all 90); Larkin Lama,
Johor (89); Putrajaya (88) and Tanjung Malim (87).
Nine areas in Sabah and Sarawak
recorded healthy API readings of
between 20 and 50. Among these
areas were Kuching (50), Sandakan
(46), Keningau (44) and Bintulu (35).
API readings of 0-50 are categorised as good, 51-100 (moderate), 101-200 (unhealthy), 201-300
(very unhealthy) and 301 and above
(hazardous).
The public can refer to the DoE
portal at http://apims.doe.gov.my
to know the current API readings.
— Bernama
KUALA LUMPUR: Customers
lost almost RM70 million due
to unsatisfactory products and
services last year, according to
the National Consumer Complaints Centre (NCCC). NCCC
chairman Datuk Dr N Marimuthu said the centre had received
41,531 complaints involving losses amounting to RM68,324,100.
The total of complaints increased
by 28% from 2009 (32,369), with
the highest number (7,641) coming from the e-commerce (online shopping) sector, he said
at the launch of the NCCC 2014
Annual Report, here yesterday.
— Bernama
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
H O M E 17
Ex-CM claims trial over alleged seditious posting
BY V A N B A L AGA N
SHAH ALAM: Former Melaka chief
minister Tan Sri Abdul Rahim
Thamby Chik pleaded not guilty
to sedition against the Selangor
crown prince in the Sessions Court
here yesterday.
Abdul Rahim, who landed in hot
soup after alleging that the crown
prince had become a Catholic, was
allowed bail at RM7,000 with one
surety.
He was charged under Section
4(1) of the Sedition Act 1948.
Abdul Rahim also pleaded not
guilty to an alternative charge under
Section 233(1) of the Communications and Multimedia Act 1998.
Abdul Rahim allegedly published a post on his Facebook account on Sept 25, claiming that Selangor Crown Prince Tengku Amir
Shah had embraced Christianity.
Deputy public prosecutor Mohd
Dusuki Mokhtar said the current
provision of a fine up to RM5,000
or three years’ jail, or both, was applied against the accused because
recent amendments to the Sedition
Act had yet to come into force.
The law was amended and approved by Parliament early this year.
Mohd Dusuki said that under the alternative charge, Abdul Rahim faced
a fine of up to RM50,000 or a maximum one-year jail term, or both.
Earlier, Mohd Dusuki applied for
RM10,000 bail, but Abdul Rahim’s
lawyer Datuk Firoz Hussein Ahmad
Jamuluddin proposed RM2,000.
Firoz said the court must also
take into account the stature of the
accused as a former chief minister, a
parliamentarian, a state assembly-
men and a deputy home minister.
Sessions Court judge Slamat
Yahya has fixed the case for mention on Nov 5.
Last week, the Selangor Royal
Council took the position that Abdul Rahim’s Facebook post on the
crown prince was seditious and
slanderous.
Some lawyers, however, feel that
the use of the Sedition Act, which
many have been pressing Putrajaya
to repeal, should not have been
used, instead for the matter to be
settled in the civil court.
Civil rights lawyer Syahredzan
Johan said the crown prince should
file for defamation against Abdul
Rahim instead of the public prosecutor invoking the sedition law.
Despite Abdul Rahim’s repeated apology to the palace, council
secretary Hanafisah Jais said the
former Melaka chief minister’s irresponsible claim had elements
of slander.
Abdul Rahim admitted that the
source of his claim was from an
unsubstantiated website. — The
Malaysian Insider
Azmin denies PKR
split over coalition
Party prepares emergency meeting to thrash out differences
BY M O HD FARHAN DARWI S
SHAH ALAM: PKR deputy president Mohamed Azmin Ali has denied any hint of discord within the
party over Pakatan Harapan as the
party prepares for an emergency
meeting this Sunday to trash out
differences over the timing of the
new opposition pact.
Mohamed Azmin said such disagreements — brought to light by a
petition signed by 25 members of
the party’s supreme council (MPP)
— could always be resolved through
discussions.
British High Commissioner to Malaysia Vicki Treadell (left) chatting with models
in ready-to-wear fashion labels from the United Kingdom at the launch of the
Shopping is GREAT and Food is GREAT campaigns last Thursday. Photo courtesy
of organisers
British envoy launches Shopping is
GREAT and Food is GREAT campaigns
KUALA LUMPUR: The Shopping is
GREAT and Food is GREAT campaigns, which feature the best of
British retail and food, are jointly organised by the British High
Commission, UK Trade & Investment and Hilton Kuala Lumpur.
The Shopping is GREAT campaign, now in its third installation, presents 70 British brands
in over 300 stores in Malaysia, the
organisers said in a statement.
Fans of British brands can
enjoy some GREAT British retail therapy over the next three
months and try their luck in the
Shopping is GREAT contest, it
said.
Hilton Kuala Lumpur is running the Food is GREAT festival
this month to celebrate the recent
appointment of its British executive chef Warren Brown. Highlights include a five-course VIP
dinner and audience with Brit-
ish celebrity Michelin star chef
Gary Rhodes, Kuala Lumpur’s
largest super brunch, Twinings
tea pairing dinner, English afternoon tea buffet and a James
Bond extravaganza.
Participants of the Shopping
is GREAT contest stand a chance
to win the grand prize of a VIP
shopping trip to London for two,
inclusive of a four-night stay in
Hilton London, two premium
economy return flights on British
Airways and £1,000 (RM6,668)
spending money courtesy of
CIMB Bank Bhd.
The contest runs from now
until Dec 31. Additionally, CIMB
Bank credit, debit or Kwik card
users get to double their chances
of winning.
Also participating in this contest are Hilton Kuala Lumpur’s 10
restaurants and bars, the statement said.
“It is an internal party matter.
We should not be discussing such
things in the open,” he told reporters yesterday after launching the
Selangor Digital Creative Centre
in Shah Alam.
Besides the 25 MPP members
who signed the petition, others
outside the party have also questioned the haste in setting up Pakatan Harapan, which was announced
by PKR president Datuk Seri Dr
Wan Azizah Wan Ismail on Sept 22.
Bersih 2.0 chairman Maria Chin
Abdullah, who was present at the
round table, said Pakatan Harapan
was announced in haste because
the opposition pact still had not
agreed on a national plan to take
the nation forward.
PAS is not part of Pakatan Harapan following its fallout with DAP
and refusal to work with Amanah,
whose leaders it called “traitors”
as they had left the Islamist party.
This has led to two stands on the
issue in PKR — some calling for the
formation of a new opposition front
to be delayed while continuing to
engage with PAS, while the others
believe that a new pact is needed immediately. — The Malaysian Insider
Court dismisses Hadi’s bid in hudud bill suit
BY V ANBALAG AN
KUALA LUMPUR: The High Court
has dismissed PAS president Datuk
Seri Abdul Hadi Awang’s preliminary objection, in his bid to strike
out a suit to stop him from tabling a
private member’s bill on hudud in
Parliament.
Lawyer Datuk Takiyuddin Hassan,
who appeared for Abdul Hadi, said
judge Datuk Asmabi Mohamad did
not have sufficient material to allow
the application.
“The court now wants to hear our
application to strike out the suit and
the plaintiffs’ injunction application
before she makes a ruling,” he said.
Abdul Hadi raised the preliminary
objection on the grounds that the
plaintiffs had used the wrong mode to
start their course of action. The plaintiffs filed an originating summons
but Abdul Hadi’s lawyers submitted
that the action should be by way of
judicial review.
Asmabi will hear both applications on Oct 13.
Mansoor Saat, Azira Aziz, Hasbeemaputra Abu Bakar and Hazwany
Jamaluddin, who filed the application on June 8, are seeking a declaration that Abdul Hadi’s attempt to
introduce a private member’s bill in
Dewan Rakyat is against the Federal
Constitution. Also included as defendants are Dewan Rakyat Speaker
Tan Sri Pandikar Amin Mulia, deputy
speakers Datuk Ronald Kiandee and
Datuk Ismail Mohamed Said, and the
parliament secretary.
The plaintiffs said the application
was based on the unconstitutionality of the bill, in which Abdul Hadi is
seeking to amend the Syariah Courts
(Criminal Jurisdiction) Act 1965 to
widen the scope of punishments meted out by the syariah court. They said
a private member’s bill is a “backdoor” attempt to change the constitution, warning that the proposed
bill would have wider implications
than just Kelantan, as it would apply
to Muslims nationwide.
“This is technically amending our
constitution. It is just not about Kelantan. If the bill is passed, it will allow
Muslims in Malaysia to be punished
according to their interpretation of
the syariah law,” they said.
The four applicants are also contending that Abdul Hadi’s attempt
to introduce the bill is in breach of
Pakatan Rakyat’s common policy
framework as outlined in the 2010
Buku Jingga, of which the PAS leader
was a party. The plaintiffs also want
an injunction to stop Abdul Hadi
from submitting the bill and Dewan
Rakyat from acting on it, pending the
outcome of their suit.
The PAS-led Kelantan government
in March passed amendments to
the Syariah Criminal Code II Enactment 1993 (Amendment 2015) to
pave the way for the east-coast state
to implement the Islamic law which
now has, among others, provisions,
such as death by stoning for adultery
with married partners, whipping of
between 40 and 80 lashes for consumption of alcohol and amputation of limbs for theft. However, an
amendment to the federal law is necessary for hudud to be implemented
in Kelantan.
Abdul Hadi presented a notice
to table the motion on the private
member’s bill during the first sitting
of this year on March 18.
Although it was listed in the order
paper, it never came up for debate.
Yesterday, Takiyuddin, who is also
PAS secretary-general and Kota Baru
member of parliament, told reporters
he was unaware if Abdul Hadi had
filed a fresh private member’s bill.
Dewan Rakyat will sit again on Oct
19. — The Malaysian Insider
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
18 C O M M E N T
The TPP free trade charade
Evident from main outstanding issues that partnership agreement is not what it seems to be
BY JOSEPH E STIGLITZ
& A DA M S HERSH
A
s negotiators and ministers from the United
States and 11 other
Pacific Rim countries were meeting
in Atlanta, Georgia,
in an effort to finalise the details of
the sweeping new Trans-Pacific Partnership (TPP), some sober analysis
was warranted. The biggest regional
trade and investment agreement in
history is not what it seems.
You will hear much about the importance of the TPP for “free trade”.
The reality is that this is an agreement
to manage its members’ trade and
investment relations — and to do
so on behalf of each country’s most
powerful business lobbies. Make no
mistake: It is evident from the main
outstanding issues, over which negotiators were haggling, that the TPP is
not about “free” trade.
New Zealand had threatened to
walk away from the agreement over
the way Canada and the US managed trade in dairy products. Australia was not happy with how the US
and Mexico managed trade in sugar.
And the US was not happy with how
Japan managed trade in rice. These
industries are backed by significant
voting blocs in their respective countries. And they represent just the tip of
the iceberg in terms of how the TPP
will advance an agenda that actually
runs counter to free trade.
For starters, consider what the
agreement will do to expand intellectual property rights for big pharmaceutical companies, as we learnt from
leaked versions of the negotiating text.
Economic research clearly shows
the argument that such intellectual
property rights promote research to
be weak at best. In fact, there is evidence to the contrary: When the US
Supreme Court invalidated Myriad’s
patent on the BRCA gene, it led to a
burst of innovation that resulted in
better tests at lower costs. Indeed,
provisions in the TPP will restrain
open competition and raise prices
for consumers in the US and around
the world — anathema to free trade.
The TPP will manage trade in
pharmaceuticals through a variety
of seemingly arcane rule changes
on issues such as “patent linkage”,
“data exclusivity”, and “biologics”. The
upshot is that pharmaceutical companies will effectively be allowed
to extend — sometimes almost indefinitely — their monopolies on
patented medicines, keep cheaper
generics off the market, and block
“biosimilar” competitors from introducing new medicines for years. That
is how the TPP will manage trade for
the pharmaceutical industry if the US
gets its way.
Similarly, consider how the US
hopes to use the TPP to manage
trade for the tobacco industry. For
decades, US-based tobacco companies have used foreign investor
adjudication mechanisms created by
agreements like the TPP to fight regulations intended to curb the publichealth scourge of smoking. Under
these investor-state dispute settlement (ISDS) systems, foreign investors gain new rights to sue national
governments in binding private arbitration for regulations they see as
diminishing the expected profitability
of their investments.
International corporate interests
tout ISDS as necessary to protect
property rights where the rule of law
and credible courts are lacking. But
that argument is nonsense. The US
is seeking the same mechanism in a
similar mega deal with the European Union, the Transatlantic Trade
and Investment Partnership, even
though there is little question about
the quality of Europe’s legal and judicial systems.
To be sure, investors — wherever
they call home — deserve protection
from expropriation or discriminatory regulations. But ISDS goes much
further: The obligation to compensate investors for losses of expected
profits can and has been applied even
where rules are non-discriminatory
and profits are made from causing
public harm.
The corporation formerly known
as Philip Morris is currently prosecuting such cases against Australia
and Uruguay (not a TPP partner) for
requiring cigarettes to carry warning
labels. Canada, under threat of a similar suit, backed down from introduc-
ing a similarly effective warning label
a few years back.
Given the veil of secrecy surrounding the TPP negotiations, it is not clear
whether tobacco will be excluded
from some aspects of ISDS. Either way,
the broader issue remains: Such provisions make it hard for governments
to conduct their basic functions —
protecting their citizens’ health and
safety, ensuring economic stability,
and safeguarding the environment.
Imagine what would have happened if these provisions had been
in place when the lethal effects of asbestos were discovered. Rather than
shutting down manufacturers and
forcing them to compensate those
who had been harmed, under ISDS,
governments would have had to pay
the manufacturers not to kill their
citizens. Taxpayers would have been
hit twice — first to pay for the health
damage caused by asbestos, and then
to compensate manufacturers for
their lost profits when the government stepped in to regulate a dangerous product.
It should surprise no one that
America’s international agreements
produce managed rather than free
trade. That is what happens when
the policymaking process is closed
to non-business stakeholders — not
to mention the people’s elected representatives in Congress. — Project
Syndicate
Joseph E Stiglitz, a Nobel laureate in
economics, is university professor at
Columbia University and chief economist at the Roosevelt Institute. Adam
S Hersh is senior economist at the
Roosevelt Institute and visiting scholar
at Columbia University’s Initiative for
Policy Dialogue.
When you cannot see Singapore, it looks like Beijing
BY NISID HA JARI
SINGAPORE is starting to look like
Beijing or New Delhi. That is because you cannot see it through the
haze. Smog has disrupted outdoor
events, forced schools to close and
sent commuters running for their
surgical masks.
Singaporeans know why. Every
year during the dry season, farmers
and plantation companies light fires
on the Indonesian regions of Sumatra and Kalimantan to clear land for
farming and the production of paper
and palm oil. Wind carries the smoke
across the Strait of Malacca and the
South China Sea.
An especially bad episode in 1997
caused regional outrage and an estimated US$9 billion in economic
damage. Nearly two decades later, in
2013, air pollution readings in Singapore and Malaysia topped 400 and
700, respectively. (Anything above
301 is considered hazardous.) An El
Nino weather pattern this year has
raised fears that smoggy skies could
persist into 2016.
On paper at least, regional governments have finally heeded calls
to do something about the problem.
Last year, Indonesia ratified an agreement that calls on countries to combat burning and share information.
In May, the government extended
a moratorium on clearing forests and
peat land. Local laws are tough: Anyone responsible for setting fires can be
sentenced to 15 years in jail and fined
up to US$350,000 (RM1.53 billion).
Singapore, where several big
paper and palm-oil companies are
headquartered, has established fines
of up to US$2 million for corporations
that enable or condone burning that
pollutes the city state.
Businesses have begun to regulate themselves. Many have adopted
zero-deforestation pledges, while
industry groups have established
certification for sustainably produced
palm oil, which is sold at a premium.
(Companies can also buy credits to
offset their purchases of uncertified
palm oil, thus funding what remains
a niche market.)
The challenges are obvious, of
course. Many of these measures will
require time to have an impact. Under Indonesia’s decentralised system, instituted in 2001, the central
government in Jakarta has little sway
at ground level, where local officials
often profit from existing arrangements. Enforcement is weak.
Small-scale farmers may be responsible for much of the burning.
(Pinpointing the source of fires is
complicated by overlapping land
claims.) Chasing down and arresting
peasants would be time-consuming
and fruitless. Indonesian authorities
would be better off educating farmers about the dangers of burning and
helping them pay for more expensive,
alternate land-clearing techniques.
That hardly means the government is helpless, though. As bad as
the air may be in Singapore or Kuala
Lumpur, it is positively apocalyptic
in places like Palangkaraya, capital
city of Central Kalimantan, on Borneo, where a pollution index reached
2,000 on Sunday. The authorities
could try encouraging local watchdog groups by increasing rewards
for whistle-blowers.
Prosecutors need to deter wouldbe scofflaws by winning more
high-profile cases like one that recently resulted in a US$25.6 million
fine against the palm-oil company
PT Kallista Alam, for setting fires in
Aceh province.
At the very least, the central
government could help identify
offenders by more readily supplying concession maps for a regional
monitoring system, and speeding
up plans to consolidate conflicting
land-use maps into a single, accepted version.
Companies could do more, too.
Even if they adhere to strict standards themselves, they face no penalties for failing to scrutinise how their
suppliers conduct business, or how
the land they buy has been cleared.
Most effective of all might be a
strategy to target these companies’
funding. Banks, sovereign wealth
funds and private-equity investors
could encourage better behaviour
by restricting their loans and investments to companies that adhere to environmental, social and
governance standards that can be
independently audited.
The Monetary Authority of Singapore could have an immediate
impact by establishing stewardship
codes to guide investment decisions by local banks and government-linked entities.
Customers also have a role to play.
They can demand better labelling of
products using palm oil — everything
from lipstick to pizza dough — to
highlight those using sustainable
producers. More countries could follow the lead of the Netherlands and
the United Kingdom, which intend
to import only sustainably sourced
palm oil.
At some point, this year’s haze
will give way to blue skies. Only
sustained pressure, from several
angles, will keep it from returning.
— Bloomberg View
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
F E AT U R E 1 9
What’s wrong with
corporate Germany?
Practice of not holding top executives responsible in times of
trouble raises questions
BY L EONI D B ERSHI DSKY
The executive committee of
Volkswagen’s supervisory
board declares as fact that
Winterkorn ‘had no knowledge
of the manipulation of
emissions data’.
Photo by Reuters
A
s it accepted the resignation of chief executive Martin Winterkorn on Sept 23, the
executive committee
of Volkswagen’s (VW)
supervisory board praised his “towering contributions” to the company
that stands to lose much of its US$37
billion (RM161.69 billion) cash stash
making amends for major fraud
committed on Winterkorn’s watch.
Such graciousness is a German
tradition, and it raises the question
of whether there’s something fundamentally wrong with the country’s
corporate establishment.
In its statement, the committee
declared as fact that Winterkorn
“had no knowledge of the manipulation of emissions data”. There
was no way to establish that in the
short time since VW’s use of special
software to cheat emissions tests
came to light. The board, which in
April backed Winterkorn in a battle
with company patriarch Ferdinand
Piech, must have taken the chief executive’s word for it. That is amazing
leniency on the part of a group of
people charged with looking out for
shareholders’ interests, given that
VW’s stock on Sept 25 was down
28% since Sept 18.
There’s nothing unusual about it,
though. When Anshu Jain stepped
down as co-chief executive of
Deutsche Bank in June, the bank’s
stock price was down 17% from this
year’s high in April, dogged by continuing heavy fines for all sorts of
past misdeeds — many committed
on Jain’s watch — and a helpless restructuring plan he had proposed.
Yet Paul Achleitner, chairman of
Deutsche’s supervisory board, expressed his appreciation for the contribution of Jain and the other cochief executive, Juergen Fitschen,
who is leaving at the end of this year,
in almost the same words the VW
board used for Winterkorn.
In 2013, the supervisory board
of Siemens, Germany’s fifth-biggest
company by revenue, announced
the resignation of Peter Loescher,
whose time as chief executive was
marked by costly delays in important
projects and woeful strategic errors,
saying: “Under his leadership, the
company achieved a substantially
higher level of performance and
profitability.”
Loescher was credited with
cleaning up Siemens after the company was caught bribing officials in
a number of countries to land contracts. That scandal was the undoing
of his predecessor Klaus Kleinfeld,
who was seen off with the message
that thanks to his leadership, “Siemens is in better condition than
ever before”.
This is not a question of decorum.
It may be that malfeasance of the
kind seen at VW, Deutsche Bank and
Siemens over the years, as well as a
lack of executive responsibility for
it — beyond the nuisance of having
to resign and be sorely missed — is
built into the German corporate
governance system.
This system is distinctive in that
it recognises the interests of more
than just the shareholders. Other
stakeholders, such as workers, local
governments and often creditors, are
represented on supervisory boards.
In accordance with German law, half
of VW’s board consists of employee
representatives elected by the workforce. Besides, two of the board’s 20
members are delegated by the state
of Lower Saxony. Votes by the workers and the local bureaucrats secured
Winterkorn’s boardroom triumph in
April. Workers’ representatives, including labour union leaders, take
up half the seats on the boards of
Siemens and Deutsche Bank, too.
This is called “co-determination”.
The term has more to it, though, than
joint decision-making. As a result,
employees’ and other stakeholders’
interests become closely aligned
with those of management. There’s
a strong esprit de corps, which isn’t
necessarily conducive to a clean,
value-based culture.
In a recent paper, the University of Michigan’s David Hess recalled the Siemens bribery scandal: “Although the German laws
had changed to make it clear that
bribing foreign government officials
was illegal, the company continued
to pay bribes because, as one manager stated, employees believed
they had to pay them or else ‘we’d
ruin the company’.”
It is a feature of every scandal
that is followed by promises of a
clean-up. VW has promised “full
consequences” for employees found
guilty of wrongdoing. Deutsche Bank
and Siemens created elaborate anti-corruption programmes. Whether
they are effective is another matter.
Deutsche Bank is now scaling back
its Russian business following investigations into benchmark fixing
and money laundering on behalf of
Russian clients. Siemens still faces
repercussions from the old bribery
scandal in countries from Brazil and
Israel to Greece.
No wonder it often takes intervention from foreign authorities to
uncover wrongdoing by German
corporations. In the cases of VW and
Siemens, US probes led to the damaging revelations. At Deutsche Bank,
shady practices might have continued but for the attention of financial
regulators in the United States and
the United Kingdom. German corporations are inclusive but, in part
because of that, closed systems: They
keep stakeholders happy, but when
outsiders ruin the cozy atmosphere,
shareholder returns tend to plummet
and the consequences are spread
over many years.
Chancellor Angela Merkel, who
has run Germany for the last decade, has done a lot to turn it into a
values-based society. It’s easy to
attack German corporations from
that point of view.
“Valuable cars can only be built if
values matter in a company,” Heribert Prantl wrote in a Sueddeutssche
Zeitung column criticising VW for
letting Winterkorn get off so lightly.
“The big question now is when VW
will be valuable again. A resignation
is not enough here.”
The German corporate establishment is out of step with a society that
is actively atoning for its 20th-century sins. If it cannot cleanse itself,
perhaps changes are needed to the
corporate governance system to
give investors a bigger role and give
other stakeholders a stronger voice.
— Bloomberg View
Leonid Bershidsky is a Bloomberg
View columnist.
Now you can consult
the doctor through your
smartphone
THE days of registering at the
counter of one’s favourite general practitioner or the panel
clinic of one’s employer and
long waits to seek medical attention may soon be something
of the past for Malaysians.
There are now smartphone
apps that enable one not only
to make an appointment with
the doctor, but also allow video
consultations while the patient
remains in the comfort of his
home. Looking at how information and communications
technology (ICT) is transforming the healthcare landscape, a
local start-up has come up with
a novel smartphone app, BookDoc, that is going to change
the way people choose a doctor and make an appointment.
Bookdoc — which offers
great convenience not only
to consumers, but also to doctors and employers — has incorporated the ideas of highly
experienced entrepreneurs,
seasoned healthcare and insurance professionals, bankers,
regulators and ICT professionals in providing a comprehensive healthcare solution.
BookDoc is a
timely venture to
capitalise on the
fast-changing
healthcare
landscape
in Asia.
Datuk Chevy Beh (pic), a
co-founder of BookDoc, says
the app is the Airbnb equivalent in healthcare and it effectively improves public access to healthcare through an
e-commerce platform. With
BookDoc, one can make appointments with a doctor at anytime and from anywhere, the
innovative entrepreneur adds.
All one needs to do first is
scroll to find the nearest doctor
or the doctor of one’s choice,
then select an appointment
slot and finally complete the
user profile. After making an
appointment, one can expect
a timely reminder of the appointment via email or a text
message. The app actually
helps to reduce the wait time
to get an appointment.
Conversely, the app enables doctors to list their
practice online, optimise
appointment schedules
and reduce no-shows with
appointment reminders to
patients, and allows appointments to be made even after
consultation hours.
Beh says more features will
be added along the way, with
users one day benefiting
from features such as
doctors on demand, online
symptom checks and even initial online diagnoses.
And for businesses, the app
simplifies distribution to employees of medical-related information such as their health
coverage and panel clinics. In
addition, employers can use
the app to verify medical certificates, compile analytical data
to monitor their employee benefits, and channel resources for
preventive care and wellness
programmes for employees.
BookDoc is a timely venture
to capitalise on the fast-changing healthcare landscape in
Asia and the app is set to be
officially launched in Malaysia this month. Subsequently,
within six months, it will be
launched in Singapore, Indonesia, the Philippines, Thailand
and Hong Kong.
Initially, BookDoc will focus on corporate clients, connecting and uniting their employees with panel clinics
and hospitals to help improve
workforce productivity, optimise health benefit costs, automate human resource (HR)
processes coupled with data
analytics for better management of staff.
Companies can also directly
update panel clinics and hospitals, saving time (since employees no longer need to seek
HR’s assistance for panel doctor information) and reducing the chances of employees’
claims not being reimbursed
due to changes in panel providers. At the same time, companies will be able to update
their list of employees entitled
to such medical benefits in a
timely manner, reducing the
likelihood of inaccurate claims.
Beh anticipates a significant take-up for the app, which
could be downloaded for free
on handheld devices or computers.
BookDoc was co-founded in
June by Beh, former chief executive officer of BP Healthcare,
and Joel Neoh, who founded
Groupon Malaysia and is former vice-president of Groupon
Asia Pacific.
The app can be downloaded at www.bookdoc.com. —
Bernama
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
20 FO CU S
T UE
H
Fed’s rate hike delay spurs more turmoil
than relief for EM currencies
BY LOH C H EN -YI
from rating agency Moody’s, after a review
of how weak copper prices had affected
THE US Federal Reserve meeting of its pol- Zambia’s national finances.
icy committee in September was one of the
Two other currencies previously in focus,
most vexing events of recent months. No- the Kazakhstan tenge and Brazilian real, were
body was sure what the Fed would do. The ranked second and third, respectively, on the
volatility in financial markets and economic dubious list. The tenge has fallen more than
slowdown in China were major threats to 31% in the past three months, after the Naglobal growth. Markets were on tenterhooks tional Bank of Kazakhstan gave up its battle
in the days leading up to the big event.
to keep the currency within a trading band
As it turned out, the Fed decided to stand on Aug 20. The Brazilian real declined 23%
pat and a first US rate hike in nine years did in the third quarter of 2015 (3Q15) and by
not materialise. Normally, the outpour- almost a similar magnitude to the tenge of
ing of relief would have triggered a rally in about 11% in the past month. Brazil’s comemerging-market (EM) assets. But nothing modity exposure and poor fundamentals
of that sort happened. Instead, risky assets that landed it a place in last year’s list of
continued to sell off.
“Fragile Five” economies continue to have
As Russ Koesterich, chief investment a negative effect on the country’s currency.
strategist of BlackRock, deDavid Rees, a senior marscribes it, “The Fed’s decision
kets economist at Capital
to hold reinforced investors’
Economics, cautions that
fears regarding sluggish globthe currencies of Brazil, Coal growth.” The same demons
lombia, Turkey and South
that haunted financial marAfrica remain the most vulkets since mid-year, when
nerable to renewed jitters.
Chinese equity markets beTheir vulnerability is largely
gan their spectacular slide,
because of reliance on volaonly seemed to return with
tile short-term capital flows
a vengeance.
to fund their current account
As a result, familiar names
deficits. “That may potentially
from the worst-performing
be sparked by renewed fears
currencies of early this year
surrounding the slowdown
are still top of the latest rank- Rees cautions that the
in China or uncertainty over
ings along with new entries. currencies of Brazil, Colombia, Fed policy,” adds Rees.
Malaysia, which has been a Turkey and South Africa
On the positive side, some
victim of the sharp fall in oil remain the most vulnerable
EM currencies have surprised
prices and 1Malaysia Devel- to renewed jitters. Photo
with their resilience. The
opment Bhd issue, has seen by CapEcon
Ghana cedi rose almost 16%
its currency tumble more than
in 3Q15 to erase some of its
14% over three months by last Wednesday. earlier losses this year. That comeback has
On a year-to-date basis, the ringgit has fall- left the currency 14% weaker than its value
en more than 20%, its worst performance against the greenback at the start of the year.
since the Asian financial crisis of 1997/98,
The real surprises have been the Mauritauntil capital controls were imposed.
nia ouguiya and the Somali schilling. These
The weakest currency of all has been the currencies were up 12% and 7% respectively
Zambian kwacha, which fell 38% in three in 3Q15 despite the worst volatility of the
months and nearly halved in value from the year in that quarter. Their low exposure
start of the year to last Wednesday. News to commodity prices and tight controls by
reports attribute the plight of the currency each country’s central bank, which manto the dire state of copper prices, its largest ages its currency against the US dollar for
export commodity and revenue earner. In idiosyncratic reasons, provide a backdrop
fact, much of the currency’s fall happened to the sometimes unpredictable behaviour
this past week, following a credit downgrade of these currencies. — The Edge Singapore
Weakest currencies ranked by three-month change
CURRENCY
Zambian kwacha
Kazakhstan tenge
Brazil real
Malawi kwacha
Colombian peso
Russian ruble
Malaysian ringgit
Belarus ruble
Myanmar kyat
Namibia dollar
RATE (LATEST)
1M % CHANGE
3M % CHANGE
YTD % CHANGE
12.15
271.03
4.06
555.35
3,108.50
65.36
4.40
17,700.00
1,291.00
13.83
-26.91
-11.26
-10.87
0.47
-1.39
-1.74
-4.61
-1.40
-1.12
-3.99
-38.18
-31.30
-23.25
-20.59
-16.19
-15.33
-14.15
-13.50
-13.40
-12.02
-47.44
-32.72
-34.57
-16.31
-23.55
-7.08
-20.43
-37.85
-20.01
-16.34
Strongest currencies ranked by three-month change
CURRENCY
Serbian dinar
Albanian lek
Japanese yen
New Romanian leu
Libyan dinar
Suriname dollar
Sierra Leone leone
Seychelles rupee
Iceland krona
Macedonia denar
Somali schilling
Mauritania ouguiya
RATE (LATEST)
1M % CHANGE
3M % CHANGE
YTD % CHANGE
106.61
124.19
120.25
3.93
1.35
3.30
4,195.00
12.94
127.28
52.58
644.05
292.02
0.60
0.34
0.82
0.47
2.30
2.30
10.19
-1.85
1.61
4.15
2.26
8.21
1.31
1.38
1.87
2.11
2.19
2.30
2.72
3.54
3.84
5.21
6.90
11.98
-5.89
-6.92
-0.39
-5.90
-2.45
3.81
-0.24
9.18
0.21
-3.76
12.56
0.34
Bi
BY
T
col
be
The weakness in the ringgit will weigh down the Singapore dollar, owing to the strong bilateral trading ties
between Malaysia and Singapore, says Innes. Photo by Reuters
US dollar to
strenghten, says
Oanda’s Innes
Against G10 economies, emerging markets and Asia
BY K ANG WAN C HE R N
S
lowing growth in China, the prospect of higher interest rates in the
United States and a big slump in oil
prices have made for lots of volatility in the foreign exchange market
this year. One clear trend, however, is that the US dollar has been strengthening. And, things are not about to change
in the next six to 12 months, says Stephen
Innes, senior forex trader, Asia-Pacific, at
Oanda.
“Until we see some significant positive
changes in China, we will continue to see the
US dollar strengthen against the G10 economies, emerging markets and Asia,” he says,
adding that the trend is likely to continue for
the rest of the year and into 2016.
Among the G10 currencies that have been
hit hardest this year are those that are seen
to be linked to softening commodity exports.
“Within the G10, the commodity-related currencies have been falling significantly relative
to currencies such as the euro, pound sterling
and yen, which are less exposed to commodity cycles. Primarily, the slowdown in China
has filtered through to the commodity markets, leading to a big drop in prices as well
as the currencies of the economies directly
affected by lower demand,” Innes says.
The New Zealand dollar, for instance, is
down 20% against the US dollar so far this
year, making it one of the worst-performing
currencies in that period. One reason for this
is that global milk prices have fallen some
60% since 2013 to a recent 13-year low, owing
to overproduction in New Zealand, Europe
and the US, and slower growth in demand
from China. Similarly, the Australian dollar
has fallen 15% against the US dollar this year,
on slumping demand from China for its hard
commodities such as iron ore and coal.
Another casualty is the Canadian dollar,
which has weakened 14% this year, on continued weakness in oil. Canada is the biggest
exporter of oil to the US. “The Canadian dollar
is very dependent on oil prices, which is why
it has fallen so much,” says Innes. Canada will
be holding its federal elections on Oct 19, he
adds. “So far, the polls have indicated a close
fight between the ruling party, which is business-friendly, and the opposition. There is a
bit of fear that the elections might swing in
favour of the New Democratic Party, which
is less business-friendly. So, the Canadian
dollar may weaken in the weeks ahead.”
Euro, yen at risk
So far, the better G10 performers have been
the Swiss franc and pound sterling. The UK
economy has been improving, and Innes is
expecting the Bank of England to raise interest rates soon after the US Federal Reserve
makes good on its promise to normalise interest rates in its economy. “We think Bank
of England governor Mark Carney will leave
the Fed to do the heavy lifting before raising
rates in the United Kingdom. So far, the economy is looking good, but the only obstacle
is that inflation remains low, weighed down
by lower oil and commodity prices. So, there
is no hurry to move rates yet,” says Innes.
For now, Oanda predicts that the Fed will
probably lift rates in December, although
there is a small possibility that the central
bank could move this month. Of the G10 currencies, the yen and euro are expected to be
among the hardest hit when that happens,
because they are both still pursuing loose
monetary policies. “Even though the yen is
very attractive as a hedge against the risk,
owing to higher repatriation of funds into Japan than outflows, we feel that the diverging
monetary policies of the two economies will
outweigh the risk-aversion play,” says Innes.
Asean vulnerable too
Things are not looking too bright in Asean
either. Notably, the Malaysian ringgit has
been under pressure this year on weaker
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T U E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
FO CU S 21
How to play Asean’s sagging markets
Big investment themes in Asean include demographics and infrastructure development
BY GOOL A WA RD EN
T
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llar
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will
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ose
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AG E
he Indonesian rupiah and Malaysian ringgit are lurching to levels
not seen since the dark days of
the Asian financial crisis. But
the currency weakness is not a
harbinger of another economic
collapse in the region. If anything, it could
be an opportunity for long-term investors.
“Of course, if we live here, we feel the impact, especially since the ringgit is down 26%
year to date and the rupiah has lost 16% this
year,” says Lee Kai Yang, chief investment
officer at RHB OSK Asset Management. But
the depreciation is nothing compared with
what happened in 1997 and 1998, he adds.
At its trough, the ringgit had lost more than
80% of its value against the greenback. Even
the Singapore dollar was down 29% back
then. This year, the Singapore dollar is only
down 6% versus the US dollar.
“If you want to look at an economy that’s
really in crisis… then, Brazil, part of Bric
(Brazil, Russia, India and China), has seen
its [currency] fall 57% year to date. That is a
crisis,” Lee suggests. “All emerging-market
currencies are weak because the US dollar is very strong. That has pushed down
everything, from commodities to emerging-market currencies.” But Southeast Asia
is in much better shape now than in the late
1990s, Lee continues. “These economies have
built up reserves, and a lot of companies
haven’t geared up in US dollars. So, their
external debt, in particular US dollar debt,
is quite different than in 1997.”
That is not to say that the region’s currencies and stock markets will not slide lower
in the short term. However, there are structural growth themes in Southeast Asia that
could eventually shine through despite the
current turmoil. “The low of your next cycle
could be higher than the peak of the current cycle,” Lee says. “Structurally, we’re in
the right position for the next few decades.”
So, what are these big, structural trends?
How can investors play them? And, what if
they just want some shelter from the current volatility?
Big investment themes
Lee says a big theme in Asean is demographics. The largest economies in Asia-Pacific
— Japan, China and Korea — have ageing
populations. “Today, you have 100 Chinese
working; next year, only 99; the following
year just 98. Unless your workers are more
productive, your GDP is going to shrink,” Lee
points out. “The big economies in Asia are
going into this phase, which is a headwind.”
On the other hand, Asean consists of 10
countries at different stages of development.
Singapore already has an ageing population
while others such as Thailand are likely to
begin ageing soon. However, the bloc’s com-
Banks’ book values and annualised dividend yields
DBS Group Holdings
Oversea-Chinese Banking Corp
United Overseas Bank
PRICE
AS AT OCT 1
(S$)
EPS
FY15E
(S$)
PER
(TIMES)
BOOK VALUE
AS AT JUNE 30
(S$)
BOOK VALUE
FORECAST
(S$)
FORWARD
PRICE-TOBOOK
(TIMES)
DIVIDEND
ANNUALISED
(CENTS)
FORWARD
DIVIDEND
YIELD
(%)
PAYOUT RATIO
AS AT JUNE 30
(%)
16.29
8.82
18.67
1.746
0.88
1.92
9.33
10.02
9.72
15.29
7.80
17.71
15.8
7.81
18.08
1.03
1.13
1.03
60
36
70
3.68
4.08
3.75
33
36
36
Source: Analysts’ reports, company reports
bined population of more than 600 million
is relatively young, and labour costs are not
high. That makes Asean an alternative global
manufacturing hub to China, where labour
is becoming more expensive. And, as more
and more people reach working age, the
number of consumers will grow too. “Already
Myanmar, Laos and Cambodia are attracting
a lot of [foreign direct investment],” Lee says.
“FDIs from China and Japan should create
employment, so consumption will rise. By
any metric, consumption in Asean is at a
pretty low level.”
Another big investment theme in Asean
is infrastructure development. First, power
is important because factories will be built
where there is a reliable power source. Once
factories are up and running, countries in
the region will need to have more highways,
trains, barges, seaports and river ports for
transporting the goods. “Once your goods
are produced, they need to go to the market
efficiently,” Lee says. Now, China is vying
with Japan to fund and build infrastructure
for places such as Myanmar, Indonesia and
the Philippines. “China has a massive plan
to build a railway from Yunnan to Singapore. This could be a 10- to 20-year project,”
Lee notes.
That brings on the next big investment
theme, which is more FDI. “Once all this infrastructure is there, it will attract FDI,” Lee
says. In a sense, the infrastructure unlocks
the full potential of Asean’s large population
and relatively low labour costs. “[FDI] will
be attracted to Asean because labour cost is
low, and there is a huge population, which
is a big market on its own,” Lee says.
The last big theme for the region is the
Asean Economic Community (AEC), which
calls for closer integration across the region
as well as with the global economy. AEC officially kicks off this year, but it could provide
a tailwind for investment and growth for
decades to come. “AEC is not an overnight
thing but will happen over the next 10 years.
Once AEC integrates the 10 countries, it will
become a very viable place in itself,” Lee says.
“We are seeing more intra-Asean economic
activity such as FDIs within Asean; and intra-Asean trade, where we trade more with
each other; and intra-Asean tourism as well.”
What is the best way to play these big
investment themes? Lee suggests looking
at the stock markets of some of the larger
members of Asean. “We like property plays
in the Philippines and Indonesia. In places
like Manila and Jakarta, there is a need for
proper housing,” he says. “There is a lot of
runway for basic needs like housing. We
would also be looking for industrial land
players, based on FDIs coming in for manufacturing, and construction companies for
infrastructure.”
Singapore offers stability
In the short term, however, Lee figures that
Singapore offers investors shelter from the
turmoil in the market. For one thing, the
Singapore dollar is likely to remain among
the strongest currencies in the region. Moreover, Singapore companies are reliable dividend payers. “We know Asean can be quite
volatile at times. Singapore is a good place
to park funds. The Singapore market is very
attractive, in terms of stock picks for dividend yield. They are the highest in Asean,”
Lee says. “Singapore is a good place to hide.”
As it happens, RHB OSK Asset Management has just launched its Singapore Income
Fund, because of demand from RHB’s premier and high-net-worth clients for something that offers stability. The fund does not
invest only in stocks with the highest or most
stable yield, though. “We want companies
that pay growing dividends,” Lee says. “We
look for companies that have the ability
to pay us more when they make more. We
look at the companies to ascertain whether
they’re in a sector with a structural tailwind.”
Where does he see opportunity in the
local market now? “Singapore real estate
investment trusts (REITs) and banks are
trading at attractive yields at the moment
versus previously,” Lee suggests.
Some of the bigger REITs in Singapore
are likely to see higher net property income
over the next two years, driven by asset enhancement initiatives and acquisitions that
have just been completed. That should see
them raise their distribution per unit. On the
other hand, the banks offer relatively high
yields on relatively low dividend payout ratios. So, even if earnings contract in the next
couple of years on slower loan growth and
higher credit costs, they might still be able
to maintain their dividends.
For the first half of financial year 2015
(1HFY15), DBS Group Holdings declared
a dividend of 30 Singapore cents (92 sen)
a share, up two cents from 1HFY14. That
represented a payout ratio of 33%. Oversea-Chinese Chinese Banking Corp maintained its dividend at 18 cents a share in
1HFY15. Its payout ratio was 36%. United
Overseas Bank’s (UOB) 1HFY15 dividend
was 35 cents a share, which reflected a payout ratio of 36%.
RHB OSK Asset Management has an Asean Megatrend Master Fund, which is available to accredited investors only. Its country
allocation is Singapore (31.24%), Malaysia (21.81%), Indonesia (16.69%), Thailand
(15.7%) and the Philippines (12.24%). The top
holding is MM2 Asia, a company that provides TV and online content. Since the start
of the year, MM2 Asia has almost tripled in
price, outperforming the Singapore market.
The other major holdings are Signature
International, which designs and produces
kitchen systems and kitchen appliances; SKP
Resources, a manufacturer of plastic parts
and components for HP, Dyson, Flextronics,
Sharp and Pioneer; Power
Root, a food company;
and Hume Industries,
a construction infrastructure-related
company.
A second fund,
the Singapore
Megatrend Income Fund,
holds DBS, Singapore Telecommunications,
Hongkong Land
Holdings, UOB and
Keppel DC REIT. —
The Edge Singapore
Lee says Southeast Asia is in much better shape
now than in the late 1990s. Photo by Bryan Tay/
The Edge Singapore
Yuan devaluation also has negative impact across region
F ROM P RE V I O U S PAGE
commodity prices, the 1Malaysia Development Bhd issue and a brewing political crisis. Now, there is a growing expectation in
the market that Malaysia’s credit rating may
fall, Innes says.
Meanwhile, the Chinese yuan devaluation
in August has also had a negative impact
across the region. By weakening its currency,
China can now export more cheaply, ostensibly making exports from Asean less competitive. “As a result, we are seeing weakness
not only in the ringgit but in the Indonesian
rupiah and Thai baht as well,” says Innes.
Even the Singapore dollar has not remained unscathed, falling 7% against the US
dollar this year. “The weakness in the ringgit
will weigh down the Singapore dollar, owing
to the strong bilateral trading ties between
Malaysia and Singapore,” says Innes. “The
Monetary Authority of Singapore will probably have to initiate easing measures in its
meeting this month, and that puts further
downward pressure on the Singapore dollar.”
What about China? Despite the 2% devaluation in August, the yuan has held up quite
well. But Innes warns that China’s economy
will continue to slow, and further weakness
in the yuan could be on the cards by year
end. “We see a gradual weakening of the
yuan towards the end of the year but do not
expect a rapid devaluation of the currency in
the next six months to a year,” he says. “Still,
our outlook is for the US dollar to continue
strengthening against the yuan over this period.” — The Edge Singapore
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
22 F E AT U R E
Globalisation which
weaponises everything
New phase of the process is defined more by divergence than convergence
BY N A DER MOU S AV IZADEH
T
he element of surprise
in international relations appears more frequent and more ferocious. Are these shocks
to be expected? Or is
something else going on?
We have entered a new phase of
globalisation — one defined more
by divergence than convergence.
Fragmentation is creating an archipelago-shaped world of fracturing
capital, power and ideas. Basic enablers of globalisation — finance,
technology, energy, law, education,
science, trade and travel — have
all been turned into weapons in a
new form of warfare.
What might be called the “weaponisation of everything” is the new
reality of globalisation — one with
profound implications for governments, companies and individuals alike.
Technology has been weaponised
through cyberwarfare, for example,
the hack into the US Office of Personnel Management, which exposed
personal data of roughly 22.1 million
government employees as well as
their families and friends.
Finance has been weaponised
through banking sanctions and the
balkanisation of global payment sys-
tems, in the form of Western sanctions on Russia and Iran. Education
and travel have been weaponised
through toughened visa restrictions.
Trade has been weaponised through
agreements like the Trans Pacific
Partnership, aimed at containing
China. Law has been weaponised
through the extraterritorial reach of
prosecutors, such as US prosecutors’
indictment of senior Fifa officials
worldwide on corruption charges. Energy has been weaponised
through pipeline alliances and the
use of oil production as strategic
tools, including Saudi oil production deployed in a sectarian rivalry.
What is new is the velocity and
impact of weaponising today’s tools
of global integration in an age of
unprecedented interdependence.
The means of modern competition
and conflict are now as important
as their ends — and are increasingly becoming ends in themselves.
Three implications stand out.
First, the asymmetry of power.
The weaponisation of everything
has turned strengths into weaknesses and weaknesses into strengths.
States or even non-state actors
subject to economic and political
sanctions are now able to deploy
weaponised technology, travel and
science to threaten great powers
and unsettle global markets.
Second, the vulnerability of
everyone, everywhere. States, nonstate actors and individual citizens
are both actors and targets in this
new warfare. When oil production
is deployed as a weapon — as in the
Saudi-Iran rivalry, global markets
and companies are in the cross
hairs. When travel, science and
education are subject to restrictions based on national rivalry, a
global talent pool is prevented from
achieving its full potential.
When commodity markets and
stock exchanges can be distorted
by trading glitches and sudden unexplained activity spikes, investors
can no longer have full confidence in
the sources or uses of capital. When
global communications systems can
be carved into discrete spaces open
only to select companies and individuals, a critical foundation of trade
and commerce is rendered impotent.
Third, the absence of effective
tools of diplomacy or risk management to respond to these new weapons of war. Neither conventional
defence structures nor corporate
barriers to entry were designed to
withstand the range of threats and
challenges emanating from the
weaponisation of everything.
Does the weaponisation of
everything inevitably lead to a world
of rapidly escalating conflicts, both
conventional and unconventional?
Will it feed a process of de-globalisation — a slow but certain rolling
back of global integration and cooperation? Not necessarily. But it does
signal a new form of globalisation —
more contested, more contingent,
more prone to shocks and shifts from
unimagined sources.
Globalisation’s inherent vulnerabilities — from finance and energy to
cyber — are becoming clearer day by
every surprise-filled day. Tomorrow,
arenas of climate, space, genomics
and pharma may be weaponised, too.
If globalisation is not to be remembered as a Trojan Horse for
the greatest enemies of peace, development and security, defences
as powerful and innovative as its
newest threats must be built. A
good place to start would be a new
arms-control agreement between
China and the US designed to sustain a new phase of global integration, from which both sides have
still far more to gain. — Reuters
Nader Mousavizadeh is co-founder of Macro Advisory Partners and
co-author, with former United Nations secretary-general Kofi Annan,
of Interventions: A Life in War and
Peace. The opinions expressed here
are his own.
The war of Amazon, Apple and other giants
BY MEGA N MCA RDLE
AMAZON has announced that it
will stop selling Google Chromecast
and Apple TV devices, which don’t
fully work with Amazon’s streaming
video services. Amazon is apparently willing to anger some of its
customers to deliver a competitive
edge to its own streaming services.
This is yet another skirmish in a
long battle between the tech giants
of our era. Four companies — Amazon, Facebook, Google and Apple
— are all jockeying to control as
much of our technology experience
as possible. A legal expert that I interviewed called it “the war of the
APIs”, but it goes well beyond that.
Each company is trying to leverage the dominance it has in one
area to push into as many other
areas as possible. When Apple announced that its mobile devices
would finally permit ad-blocking
apps, that was a win for consumers — and also a blow for Google,
which makes its money off of those
ads. Google, of course, has already
challenged Apple where it makes its
money, on pricey mobile devices.
Now, Amazon would like to force
both of those behemoths to support
its streaming video services — or
Filepic of an Amazon Fire TV set seen on a couch. Amazon is apparently willing to anger
some of its customers in order to deliver a competitive edge to its own streaming services.
Photo by Reuters
steer consumers towards devices.
This is exactly the sort of activity
that caused the Justice Department
to go after Microsoft in the 1990s.
You could see Amazon’s actions
as an argument for vigorous government action. It is increasingly
a one-stop shop, and knocking the
Chromecast and the Apple TV off
of its product listings will unfairly
advantage its own offerings.
move is smart. Regulators might
decide that their intervention is
required, and Amazon’s market
power comes from the fact that
it is a one-stop shop. Refusing to
carry popular devices might deal
a mortal blow — but it might also
alienate customers, weakening the
very power it is trying to leverage.
This was the sort of thing that
Microsoft could get away with when
it was essentially the only game
in town.
But with other mighty tech giants
roaming the land, an aggressive
offence can end in disaster.
You should expect more of this
sort of thing in the future, precisely
because all of those giants watched
Microsoft decline from the undisputed emperor of the realm into a
brooding midlife crisis as its products became increasingly irrelevant.
No one wants to get stuck in
what used to be a great business;
they want to make sure that they
have a big slice of the next big
thing. And if they have to step on
a few toes to get there, they will. —
Bloomberg View
Yet, I actually think that this
move shows exactly why government intervention isn’t needed.
Each of these companies has ample
weapons at its disposal to fight the
coming battles. Google and Apple
could keep Amazon’s applications
out of their mobile stores, which
would deal a severe blow to AmMegan McArdle is a Bloomberg View
azon’s sales.
That does not mean that this columnist.
South Asia
falling behind
on global
competitiveness
— WEF
BY S A H E L I ROY C H O UD H URY
WORKERS are less productive
in China and Southeast Asian
countries, and this is crimping
growth in the region, according
to the World Economic Forum’s
(WEF) annual report on global
competitiveness.
This year, none of the South
Asian Association for Regional
Cooperation countries, comprising India, Pakistan, Bangladesh,
Sri Lanka, Nepal and Bhutan,
broke into the top 50 most productive nations. India jumped 16
places from last year to finish at
55. Sri Lanka, Bhutan, Bangladesh, Nepal and Pakistan were
ranked 68, 105, 107, 100 and 126
respectively.
What’s to blame? Rampant
corruption, government instability, ineffective policies and
inflation. Worsening the situation is the rapid urbanisation that
these countries face, for which
they are ill prepared: Cities become strapped for resources;
there is rampant poverty and
living standards fall.
The WEF said despite the
inter-country disparities in the
region, emerging and developing Asia has remained the
world’s fastest-growing region
since 2005, accounting for 30%
of global gross domestic product.
The list of countries in the
top 10 remained relatively unchanged from last year. Switzerland, Singapore and the United
States finished in the top three
respectively. Japan moved up
to six and Hong Kong remained
at seven.
The WEF said despite being the fastest-growing region,
emerging and developing Asia
has a long way to go. “Most countries have a gaping infrastructure
deficit because investment has
not kept up with rapid growth,”
said the report.
Countries ranking near the
top of the index scored highly
on infrastructure and technology adoption.
WEF founder and executive
chairman Klaus Schwab warned:
“The fourth industrial revolution
is facilitating the rise of completely new industries and economic
models, and the rapid decline
of others.”
He added that to remain competitive in this changing landscape, countries would need to
ramp up their efforts in improving their productivity. — CNBC
For more, visit www.cnbc.com
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
Glencore shares
surge 72% in
Hong Kong
HONG KONG: Shares in beleaguered trader and miner Glencore plc rocketed as much as
72% yesterday in Hong Kong
on hopes it would be able to
cut debt with a sale of a stake
in its agricultural assets.
Reuters reported last Friday
that Glencore is in talks with a
Saudi Arabian sovereign wealth
fund and China’s state-backed
grain trader Cofco, along with
Canadian pension funds, to sell
a stake in the assets.
Glencore wants to sell some
assets as part of a wider plan to
cut about a third of its US$30
billion (RM1.31 trillion) in net
debt, including raising US$2.5
billion through a share sale,
suspending its dividend and
cutting costs by trimming its
copper output.
However, doubts grew last
week that it would be able to
pay down debt fast enough to
withstand a prolonged slump
in commodity prices.
Yesterday the stock rebounded in Hong Kong to a one-month
high of HK$18.36 (RM10.37),
then eased to trade up 40% at
HK$15.00 in its biggest one-day
gain, partly helped by higher
copper and oil prices. — Reuters
W O R L D B U S I N E S S 23
IPOs worth US$5b
pitched to investors
A sign of improving confidence in market conditions
BY ALISON LUI & FI O NA LAU
HONG KONG: China Huarong
Asset Management Co Ltd and
China Reinsurance (China RE)
started pitching Hong Kong initial public offerings (IPOs) worth
up to a combined US$5 billion
(RM21.85 billion) to investors
yesterday — a sign of improving
confidence in market conditions
after recent turbulence.
China’s biggest state-owned
bad debt asset management firm
and its largest reinsurer received
the nod for their IPOs weeks ago
but pre-marketing was delayed
due to volatile markets around
the world.
After falling for five straight
months, Hong Kong’s benchmark
stock index started October on a
positive tone, indicating investors
may be ready to dip back into IPOs
even though uncertainties about the
health of China’s economy remain.
“We’re not out of the woods
yet. I wouldn’t view it as a bull
signal for the economy or for the
stock market, but they must be
confident enough to reach this
phase, which is positive,” said a
Hong Kong-based equity capital markets banker who was not
authorised to speak publicly on
the matter.
“They’ve taken a view that
these deals will get done and will
be supported by Chinese pools
of capital. There’s no shortage
of institutional money in China.”
Huarong and China RE did
not reply to Reuters’ requests for
comment on the pre-marketing
of their IPOs.
Huarong is seeking to raise up
to US$3 billion in its IPO. The offering will consist of 6.31 billion
shares, equivalent to a 16.4% stake
in the company, and Huarong is
slated to start taking orders from
investors on Oct 15, according to
a term sheet of the deal seen by
Reuters.
The offering will include no
more than 607 million shares from
China’s Ministry of Finance and
no more than 17 million shares
from state-backed grain trader
Cofco, the terms showed.
Huarong plans to use 60% of
the proceeds to develop its distressed asset business and buy
more debt from financial and
non-financial companies, while
another 30% will be set aside to
expand its financial services businesses.
China RE plans to raise up to
US$2 billion. It is set to offer 5.77
billion new shares, equivalent to
14% of its enlarged share capital,
and to start taking orders from investors on Oct 12, Thomson Reuters
publication IFR reported. — Reuters
Jack Ma’s canvas gets
HK$42.2m at auction
BY FRED ERI K B A L FO UR
HONG KONG: A painting by Alibaba
founder Jack Ma and Chinese artist
Zeng Fanzhi fetched HK$42.2 million (RM23.83 million) at a Sotheby’s
auction in Hong Kong on Sunday, 17
times the high estimate. The money
will go to a charity to promote environmental awareness.
The oil on canvas painting, titled
Paradise, was executed in 2014 and
depicts planet earth. It was sold to a
telephone bidder handled by Sotheby’s Asia chief executive officer Kevin
Ching. The upper estimate — auction
houses provide a high and a low — of
the piece’s value was HK$2.5 million.
Ma, who toured Sotheby’s on Sunday afternoon before the auction and
viewed works by Modigliani, Degas
and Willem de Kooning, said “it was
an honour” to have his painting sold
for charity, though he has no plans
to pursue a career in art.
Zeng is one of China’s pre-eminent contemporary artists whose
painting The Last Supper set a record for an Asian living artist when
it sold for US$23.3 million at Sotheby’s in 2013.
Paradise was sold during Sotheby’s
Modern and Contemporary Asian
Evening Art Sale where the most expensive work was a canvas painted in
1960 by Yayoi Kusama. — Bloomberg
HONG KONG: Evergrande Real
Estate Group Ltd, the best-performing major property stock
traded in Hong Kong this year, is
also the most shorted and lowest
rated among peers.
Some reasons: The developer
controlled by billionaire chairman Hui Ka Yan has bought back
shares to help boost prices and
has been piling on debt, leading
analysts and some investors to
bet that increases won’t be sustainable. The shares, which defied
a slumping market to increase
in July and slip only 0.6% amid
a rout in August, led declines
among property developers in
September.
Chinese developers had been
taking on debt to expand as the
government turned to areas such
as property investment to shore
up slowing economic growth. As
the share market began its decline
in mid-June, developers such as
Evergrande and China Vanke Co
moved to give their shares a boost
via buy-backs. Evergrande shares
jumped 11% in July as the developer embarked on a buy-back
spree, and was the only stock in
BoJ seen holding fire
despite recession risk,
but maybe not for long
TOKYO: The Bank of Japan (BoJ)
is expected to hold monetary
policy steady tomorrow, preferring to save its limited options
while hoping that a tightening
job market will lift wages and
consumption enough to offset
the pain from China’s slowdown.
The BoJ is likely to remain under
pressure to ease at a more crucial meeting on Oct 30, when it
is expected to cut its long-term
economic and price projections
due to sluggish exports and renewed oil price falls. Some investors speculate that governor
Haruhiko Kuroda may ease this
week to spring a surprise. But
the chance of this happening is
slim with many policymakers
hesitant to expand an already
radical programme, say sources
familiar with the BoJ’s thinking.
Instead, the BoJ is expected to
maintain its pledge to increase
base money at an annual pace of
¥80 trillion yen (RM2.92 trillion)
tomorrow. — Reuters
UK firms see least certain
outlook in 2½ years —
Deloitte
LONDON: Large British companies are more worried about
the economic outlook than
they have been for the past 2½
years, because of the slowdown
in emerging markets and the
prospect of UK and US interest rate rises, a survey shows.
The quarterly survey of chief financial officers (CFOs) at major British companies offers an
insight into their willingness to
invest. Published yesterday and
conducted by Deloitte between
Sept 9 and 28, it shows 73% of
CFOs think uncertainty is either
“above normal”, “high” or “very
high”, up from 55% in June. Risk
aversion also increased, with 47%
of CFOs now saying it is a good
time to take risk, down from 59%
in June, while 60% say China’s
slowdown will hurt them over
the next year. — Reuters
Banpu Power files for
US$600m IPO, says IFR
Ma (right) and Zeng in front of Paradise. Photo by Sotheby’s
Short sellers take on best-performing property stock
BY L I SA PH A M
IN BRIEF
the BI China Real Estate Owners
and Developers Valuation Peers
Index to increase that month.
“The cash flow position will
become quite tight if the company keeps buying back shares
or maintaining its dividend payout,” Toni Ho, an analyst at RHB
OSK Securities Hong Kong Ltd,
said. “Evergrande has been more
aggressive compared with its
peers in terms of taking on more
debt.”
Evergrande shares fell as much
as 2.7% and were 1.3% lower at
HK$4.73 (RM2.67) at the noon
break in Hong Kong. The stock
was the worst-performing member in the BI China Real Estate
Owners and Developers Valuation Peers Index in morning
trading.
Evergrande’s secretary, Jimmy
Fong, didn’t answer two emails
seeking comment, and three
phone calls to his office went unanswered. In August, Fong said
there was nothing new in a report
by an independent research firm
that highlighted the firm’s indebtedness, adding that though
the company’s leverage had gone
up, it was due to its expansion.
— Bloomberg
HONG KONG: Banpu Power,
the utility unit of Thai’s top coal
miner Banpu Pcl, has filed for an
initial public offering (IPO) worth
up to US$600 million (RM2.62
billion), IFR reported yesterday,
citing sources familiar with the
deal. The company’s parent plans
to sell a stake of 35% or less in
the IPO, slated for the first half
of 2016, added IFR, a Thomson
Reuters publication. Banpu did
not immediately reply to a Reuters email seeking comment on
the IPO plans. — Reuters
Taiwan September forex
reserves at US$426.33b
TAIPEI: Taiwan’s foreign exchange
reserves stood at US$426.33 billion (RM1.86 trillion) at the end
of September, the nation’s central bank said yesterday, citing an
increase in investment returns.
Taiwan’s reserves are the world’s
fourth-largest after China, Japan
and Russia. The figures do not
include gold. — Reuters
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
24 W O R L D B U S I N E S S
World Bank trims East
Asia and Pacific forecasts
Citing risks of sharp slowdown in China and expected US rate hike
BY MA SAY U K I KITANO
SINGAPORE: The World Bank cut
its 2015 and 2016 growth forecasts
for developing East Asia and Pacific,
and said the outlook was clouded by
the risk of a sharp slowdown in China and possible spillovers from expected increases in US interest rates.
The Washington-based lender now expects the developing
East Asia and Pacific (EAP) region,
which includes China, to grow
6.5% in 2015 and 6.4% in 2016,
US hedge funds
brace for worst
year since
financial crisis
BY SVEA HERBST-BAYLISS
BOSTON: US hedge funds are
bracing for their worst year
since the 2008 financial crisis after a dramatic sell-off in
healthcare and biotechnology
stocks triggered double-digit losses for some prominent
players last month.
September’s sucker punch
in the biotech sector, on top
of a grim August when global
markets tumbled due to fears
about slowing growth in China,
have pushed many hedge fund
managers deep into the red.
“These are some of the worst
numbers we have seen since
the crisis,” said Sam Abbas,
whose Symmetric IO tracks
hedge fund managers’ returns.
The average hedge fund lost
19% in 2008 when the credit
crunch hit. Since then, hedge
funds have had only one down
year, when they lost 5.25% in
2011, data from Hedge Fund
Research show.
While the biotech sector
held up relatively well during
the initial market sell-off in August, it cratered in September.
“Hedge funds are reeling
from a relentless rout that has
all but killed a year’s worth of
alpha in a matter of two weeks,”
Stanley Altshuller, founding
partner at research firm Novus,
wrote in a report.
“It was the last remaining
bastion of alpha and a sector
where many hedge funds were
hiding. Now it has succumbed,”
said Peter Rup, chief executive
and chief investment officer at
Artemis Wealth Advisors LLC,
which invests in hedge funds.
Some of America’s most
prominent hedge funds have
seen their returns crumble. —
Reuters
down from 6.8% growth in 2014.
Its previous forecast in April was
6.7% in each of 2015 and 2016.
“The baseline scenario for regional growth is subject to a greater-than-usual degree of uncertainty,
and risks are weighted to the downside,” the World Bank said in its latest East Asia and Pacific Economic
Update report yesterday.
“In particular, uncertainty surrounds the trajectory of, and spillovers from, China’s economic
rebalancing and the expected nor-
malisation of US policy interest rates.”
The World Bank said the downward revisions to regional growth
forecasts mainly reflect a moderate
slowdown in China’s economy, which
it sees growing 6.9% in 2015 and 6.7%
in 2016, down from 7.3% in 2014.
The previous forecast was for
China to grow 7.1% in 2015 and 7%
in 2016.
Growth in developing East Asia,
excluding China, is expected to hold
steady in 2015 at 4.6% before accelerating to 4.9% in 2016, the World
Bank said. Those were down from
previous forecasts of 5.1% growth
in 2015 and 5.4% in 2016.
Further declines in Asian currencies against the dollar could cause
balance sheet strains in countries with
significant dollar-denominated debt.
“Stress may arise whenever individual firms and sectors suffer from
a significant concentration of liabilities,” the World Bank said, adding
that such risks are a special concern
in Indonesia, Malaysia, Thailand and
Vietnam. — Reuters
‘Prosecute execs for 2008 crisis’
WASHINGTON: Former Federal Reserve chairman Ben Bernanke said
in a newspaper interview published
on Sunday that more corporate executives should have been prosecuted
for their actions leading up to the
2008 financial crisis.
Bernanke told USA Today that the
US Justice Department and other law
enforcement agencies focused on
investigating or indicting financial
firms. “But it would have been my
preference to have more investigation
of individual action, since obviously
everything that went wrong or was
illegal was done by some individual,
not by an abstract firm,” Bernanke
was quoted as saying.
Bernanke, who presided over the
US central bank during the financial
crisis considered the worst since the
Great Depression, said it was not up
to him to decide whether to prosecute
individuals, noting: “The Fed is not
a law-enforcement agency.”
“The Department of Justice and
others are responsible for that, and a
lot of their efforts have been to indict
or threaten to indict financial firms,”
Bernanke added. “Now a financial
firm is of course a legal entity; it’s
not a person. You can’t put a financial firm in jail.”
Bernanke, who retired from the
Fed last year after eight years as
chairman, said of the financial crisis: “I think there was a reasonably
good chance that, barring stabilisation of the financial system, that we
could have gone into a 1930s-style
depression.”
In the interview, Bernanke, whose
memoir is being published this week,
acknowledged that analysts were
slow to realise how serious the economic downturn would become and
faulted himself for not doing more
to explain why it was in the public’s interest to rescue the financial
firms that helped cause the crisis.
— Reuters
UK govt plans £2b Lloyds retail share sale in 2016
LONDON: Britain’s finance ministry will sell at least £2 billion
(RM13.3 billion) worth of shares
in Lloyds Banking Group to retail
investors in spring 2016 as part of
plans to return the bank to full private ownership, it said yesterday.
The sale is set to be the biggest
privatisation since the 1980s, when
Margaret Thatcher’s government
sold £3.9 billion worth of shares
in British Telecom and £5.6 billion
worth of British Gas shares in an
offer, which became famous for
its “Tell Sid” television advertising
campaign.
As well as raising money to pay
down Britain’s debt, those sales
aimed at encouraging ordinary Britons to invest in the stock market,
an aspiration shared by the current
Conservative government, which
gathered for its annual party conference in Manchester on Sunday.
The Lloyds shares will be offered
to retail investors at a discount of
5% to the market price, with a bonus share for every 10 shares for
those who hold their investment
for more than a year. The value of
the bonus share incentive will be
capped at £200 per investor, the
Treasury said in a statement.
IN BRIEF
Norway’s Telenor puts
US$2.3b Vimpelcom
stake up for sale
OSLO: Norwegian telecoms
firm Telenor wants to sell its
33% stake in Vimpelcom , currently valued at US$2.3 billion
(RM10.1 billion), the latest
move by a Nordic telecoms
firm to sever ties with a business facing a bribery investigation. Vimpelcom faces scrutiny
from authorities in the United
States and in the Netherlands
in relation to a bribery investigation launched in March 2014
into its operations in Uzbekistan — one of the countries
TeliaSonera is quitting. Telenor
has also been in open conflict
with Vimpelcom’s other major
shareholder, Russian billionaire
Mikhail Fridman, over control
of the company and its strategy,
to the point where it became a
diplomatic issue between Oslo
and Moscow. — Reuters
Xchanging says
in talks over two
separate buyout offers
LONDON: Outsourcing company Xchanging plc said yesterday
it had over the past few months
received two separate takeover
proposals from British peer
Capita plc and US-based private equity firm Apollo Global Management LLC. Capita’s
final offer, made on Sept 24,
stood at 160 pence (RM10.77)
per share in cash, while Apollo had made a 170 pence per
share offer, Xchanging said,
adding that it had granted
both firms due diligence access. Capita said Xchanging’s
board had confirmed it would
be willing to recommend Capita’s final offer. — Reuters
Potash Corp withdraws
US$8.9b takeover bid
for German peer K+S
NEW YORK/FRANKFURT: Potash Corp of Saskatchewan said
yesterday it had withdrawn its
€7.9 billion (RM38.8 billion) offer for German potash producer
K+S , citing a decline in global
commodity and equity markets
and a lack of engagement by
K+S management. An acquisition of K+S would have given
Potash Corp an opportunity
to realise savings from selling
potash within North America
from its own Western Canada
mines and from K+S’s Legacy
mine, which is under construction in the region. — Reuters
Rolls-Royce to cut more
staff in its marine unit
Filepic of a man walking past a branch of Lloyds bank in central London. The sale is set
to be the biggest privatisation since the 1980s. Photo by Reuters
People applying for investments
of less than £1,000 will be prioritised, the finance ministry added.
Lloyds needed to tap £20.5 billion from the public purse to avert
collapse at the peak of the financial
crisis in 2008, which left the gov-
ernment with a 43% stake.
During Britain’s national election, Finance Minister George Osborne said he would look to sell part
of the government’s stake to private
investors if the Conservative Party
won a majority. — Reuters
LONDON: Britain’s Rolls-Royce
said it would cut an additional
400 staff from its marine business by the end of next year,
in its latest move to make the
unit more efficient and cope
with a fall in orders sparked
by the lower oil price. The marine unit, which depends on oil
and gas-related customers for
about 60% of its business, has
been under pressure over the
last eighteen months since the
price of Brent collapsed to sixyear lows, and ship orders were
cancelled. — Reuters
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
W O R L D B U S I N E S S 25
Ball bearings maker Schaeffler cuts IPO size in wake of VW scandal
FRANKFURT: German ball bearings
maker Schaeffler AG sharply scaled
back the size of its planned initial
public offering (IPO) yesterday, after
delaying it last week in the wake of
the Volkswagen AG(VW) emissions
scandal and volatile markets.
It set a price range for the offer
of between €12 (RM59) and €14, to
UAE won’t let
falling oil prices
disrupt energy
investments
BY MA H MOU D H A BBOUSH
M A I S A L- A MOU RI
ABU DHABI: The United
Arab Emirates (UAE), the
fourth-biggest Organization
of the Petroleum Exporting
Countries (Opec) producer, is
sticking with investment projects to boost energy output
even after the plunge in oil
prices in the past year.
“Investments are ongoing,
we are a mature producer,”
Energy Minister Suhail Mohammed Faraj Al Mazrouei
told reporters on Sunday at
a conference in Abu Dhabi,
the UAE’s capital and largest
emirate. The UAE has said it
plans to boost oil production
capacity to 3.5 million barrels a day by 2019. It pumped
2.9 million barrels a day in
September, according to data
compiled by Bloomberg.
Brent crude has slumped
48% in the past 12 months,
threatening US$1.5 trillion
(RM6.56 trillion) in North
American energy investments, according to Wood
Mackenzie Ltd. Opec led by
Saudi Arabia has increased
output, signalling its readiness to let prices fall to a level
that slows output from highcost producers such as some
United States shale companies.
The UAE will spend US$35
billion by 2021 to expand
non-oil energy assets, including nuclear power and solar,
Al Mazrouei said. The nation
aims to reduce its reliance on
natural gas for power, while
still boosting imports of the
fuel, he said. — Bloomberg
raise around €975 million. Sources
familiar with the matter had said the
company’s initial plan was to raise
around €2.5 billion.
Schaeffler supplies the auto industry and delayed the IPO by a week
as the VW scandal hit sentiment in an
already jittery German stock market.
The company now plans to make
its market debut on Friday on the
regulated market (Prime Standard)
of the Frankfurt Stock Exchange under the symbol SHA.
“Based on the midpoint of the
price range, gross proceeds would
amount to approximately €975 million, of which approximately €858
million would be attributable to
Schaeffler from the placement of
the new shares,” the company said
in a statement.
Schaeffler is placing 75 million
shares, of which 66 million will be
newly issued and six million shares
from the family owner’s vehicle
Schaeffler Verwaltungs GmbH. —
Reuters
Macau cloud
should not darken
Philippine casinos
Bloomberry’s gambling revenue is growing
Razon said
Bloomberry
will still pursue
premium
players through
junket operators
instead of doing
it directly. Photo
by Reuters
Southeast Asian country may accelerate in the second half after rising
16% in the first six months of the year.
The Philippine casino market
can grow without China through
increased spending by mass and local
gamblers, Razon said. Bloomberry
will still pursue premium players
through junket operators instead of
doing it directly, he said. “The good
thing now, in hindsight, is that our
relationship with China is really not
that good,” he said. “So we never
had the business from China, which
nowadays is probably a good thing.”
As Bloomberry was constructing its Solaire Resort in Manila, tensions between the Philippines and
China were building over disputed
territories in the South China Sea.
The number of Chinese tourists to
the country fell by about 33% in the
first quarter.
The company posted a net loss
of 773.5 million pesos in the second quarter amid higher operating
costs and expenses at Solaire, which
opened in March 2013. Revenue grew
9.5% to 5.99 billion pesos.
Growth in casino takings will be
subdued unless demand from Chinese gamblers picks up, says Astro
del Castillo, managing director at
First Grade Finance Inc.
Razon said he expects the mass
market to keep growing and account
for 60% of Bloomberry’s gambling
revenue in three to five years. Premium customers from Southeast
Asia, Taiwan and South Korea also
continue to arrive at Solaire, Razon
said.— Bloomberg
Pension fund buys stocks amid outflows
BY I A N C SAYSON ,
C EC I L I A YA P & C L A R ISSA BATINO
MANILA: For the largest Philippine
pension fund, record foreign outflows
are making the nation’s equities a
more attractive investment.
As the Philippine Stock Exchange
Index surged to a record in April, the
Government Service Insurance System (GSIS) was selling, according to
its President Robert Vergara. Since
then, the benchmark gauge has fallen
every month, its longest losing streak
in 13 years, and the fund has been
purchasing shares — spending a third
of its annual equities budget in a five
billion peso (RM468.1 million) buying spree in August alone, he said.
“This year we were really behind
our investment programme ... we
were actually taking profit as the
market was going up,” Vergara said
in an interview in Manila. Now, the
fund is “predominantly buying” and
there’s “a possibility that we will bottom out, maybe in the next couple
of weeks,” he said.
Australia to spend US$1b on
armoured vehicles
SYDNEY: Australia will spend
A$1.3 billion (RM4.03 billion) on
next-generation armoured land
vehicles for its army, Prime Minister Malcolm Turnbull said yesterday as he announced the latest
update to modernise the nation’s
military. Australian forces are part
of the coalition fighting Islamic
State group jihadists in Iraq and
Syria, but Turnbull denied that the
procurement of 1,100 blast-resistant Hawkei’s from Thales Australia Ltd suggested a greater global
engagement.”I am not signalling
that,” Turnbull told reporters at a
joint press conference with Defence Minister Marise Payne at a
test facility for the Hawkei vehicles
north of Melbourne. “However,
the reality is that IEDs (improvised explosive devices) for example are a feature of the modern
battlefield and regardless of the
context in which the Australian
Defence Force is operating that
type of threat is almost certainly
going to be there. These vehicles
are able to operate in every terrain.” — AFP
India agrees to fast-track
German business deals
BY IAN C SAYS O N,
CECILIA YAP & C LARI S S A BATI NO
MANILA: We’re not Macau. That’s
the message from Philippine billionaire Enrique Razon Jr after casino operator Bloomberry Resorts
Corp tumbled 61% this year, making it the nation’s worst-performing
major stock.
Bloomberry’s losses will narrow
because gambling revenue is growing, unlike in Macau, Razon said in
an interview last Friday in Manila.
He said the company’s earnings will
improve and it plans to provision
by year end for all unpaid credit extended to VIP and premium players, he said. Bloomberry provided
1.81 billion pesos (RM171 million)
in the first half for 4.69 billion pesos
of receivables.
“The whole industry has been
painted with the same brush, but
we’re nowhere near the situation
in Macau, where revenue is really
falling,” said Razon, 55.
Philippine casino operators have
plunged in 2015 as an anticipated
flood of high rollers from China failed
to materialise amid an anti-corruption drive spearheaded by President
Xi Jinping and worsening relations
between the two nations. State-run
Philippine Amusement and Gaming
Corp predicts casino revenue in the
IN BRIEF
Foreign money managers sold a
record US$1.28 billion (RM5.6 billion) of the nation’s shares in the
three months through September,
fuelling the stock index’s biggest
quarterly loss in seven years, as
a slowdown in China’s economy
roiled global markets and traders
boosted expectations the United
States will raise interest rates. While
the Philippine Stock Exchange Index remains the region’s priciest,
valuations have fallen to near the
cheapest levels in 20 months.
The outlook for the Philippines
remains positive even as Asian
growth slows, Vergara says. The
nation is more insulated from weaker world growth than other emerging markets because of its reliance
on domestic spending and steady
dollar inflows from remittances, according to the International Monetary Fund. Gross domestic product
growth will probably accelerate to
6.3% in 2016, from 6% this year, the
Asian Development Bank forecast
last month. — Bloomberg
NEW DELHI: India and Germany signed a deal yesterday to
fast-track business approvals, an
arrangement to make it easier for
German companies to operate
in Asia’s third largest economy
that was announced as German
Chancellor Angela Merkel visited New Delhi. The fast-track approvals process will ensure that
German firms will have a single
point of contact in the Indian
administration, helping them to
navigate a web of red tape that
often thwarts business initiative.
The agreement is the first of its
kind and comes as Prime Minister
Narendra Modi seeks to attract
foreign investment in support of
his “Make in India” drive to boost
industrial investment and create
skilled jobs. — Reuters
Yoox Net-a-Porter rises
on trading debut
MILAN: Yoox Net-a-Porter SpA
climbed on its debut after the
web distributors of Prada totes
and Burberry trenchcoats combined to create the world’s largest
online luxury retailer. The shares
gained 2% to €28.63 (RM141) as
of 9.02am in Milan yesterday, giving the company a market value
of about €3.7 billion. Yoox agreed
in March to buy Net-a-Porter
from Cie Financiere Richemont
SA in an all-stock transaction. —
Bloomberg
American Apparel files for
bankruptcy protection
NEW YORK: American Apparel
Inc, the troubled chain that boasts
of “Made in the USA” fashions,
filed for voluntary bankruptcy
protection early yesterday on the
back of a growing list of woes. The
Los Angeles-based company has
been embroiled in a drawn-out
legal battle with its ousted founder and former chief executive Dov
Charney and has seen declining
sales since 2010, leading to a series of steep losses. — AFP
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
26 WORLD
‘Russia conducting classic
asymmetric warfare’
British foreign minister says Syria is ‘a million miles away’ from a free and fair vote
BY WILLIAM JAMES
MANCHESTER: Russia is engaged
in “classic asymmetric warfare” in
Syria by using its military clout to
prop up President Bashar al-Assad
while saying it is attacking Islamic
State (IS) militants, Britain’s foreign
minister said on Sunday.
Russia last week began striking
targets in Syria — a dramatic escalation of foreign involvement in the
civil war which has been criticised
by the West as an attempt to prop
up Assad, rather than its purported
aim of attacking IS.
“It looks like a classic bit of Rus-
sian asymmetric warfare — you
have a strong propaganda message that says you’re doing one
thing while in fact you are doing
something completely different
and when challenged you just flatly
deny it,” Philip Hammond told Reuters in an interview in Manchester.
He said Britain had held discussions with Russia but kept on getting
the same response — that Moscow
was attacking IS militants in Syria.
“You try talking to the Russians,”
he said. “They just keep repeating
their position — that is by the way
also the Iranian position — and it
is just incredible.”
He said that Britain needs “absolute clarity” that Assad will not
be part of Syria’s future.
“That’s not some random bee
in the bonnet that I’ve got; it’s that
without that commitment we will
never get the broad spectrum of
Syrian opposition groups to sit
down and agree around a table
how we take forward the discussion about Syria’s future,” he said.
Hammond dismissed proposals
put forward by Russia and Iran for
elections, saying Syria is “a million
miles away” from being able to hold
a free and fair vote.
“In a country where 250,000 peo-
ple have been killed and 12 million
people have been displaced, half of
them outside the country — how
can you talk about free and fair
elections?” he said.
Hammond said the key to ending the suffering caused by the fouryear civil war is a managed transition to peace — even if it means
Assad retains power temporarily.
“If the price for doing that is that
we have to accept that Assad will
remain as titular head of state for
a period of time, do I really care
if that’s three days, three weeks,
three months or even longer? I
don’t think I do,” he said. — Reuters
North Korea
suspected of
hacking Seoul
subway operator
SEOUL: North Korea is suspected of having launched a
cyberattack last year on the
South Korean capital’s subway system that carries millions of commuters everyday, a Seoul lawmaker said
yesterday, citing intelligence
reports.
The attack, staged between
March and August 2014, affected several servers of Seoul
Metro, which runs four major subway lines, ruling party
legislator Ha Tae-Kyung said.
Nearly 60 employee computers were infected by malware, Ha said.
After analysing the hacking
records, the National Intelligence Service found that the
malware codes were similar to
those North Korean hackers
had employed before, he added.
A Seoul Metro spokesman
confirmed the hack, but stressed
that computers used for the direct operation of subway lines
were not compromised.
“There were data and information leaks, but none related to direct operations,” the
spokesman said.
“We still don’t know who was
behind the attack,” he added.
— AFP
KABUL: Pressure mounted on
Washington yesterday to come
clean over the apparent US air
strike on an Afghan hospital that
killed 22, which medical charity
Afghan forces regain
most of Kunduz — police
KABUL: Police and residents
said Afghan government forces
had regained control of most of
the besieged city of Kunduz yesterday, and some shops in the
centre of the provincial capital
opened for the first time since
it fell to Taliban fighters a week
ago. Residents said it was the
first time in eight days that they
had not heard gun battles and
were able to leave their homes
to buy food and take stock of
the damage done. Soldiers were
conducting house-to-house
searches as they continued to
push Islamist insurgents out of
areas that had witnessed fierce
fighting, with control of pockets of the city swinging several
times between the Taliban and
Afghan army. — Reuters
Turkish jets harassed by
unidentified MIG-29
ANKARA: Two Turkish F-16 jets
were harassed by an unidentified MIG-29 aircraft on the
Syrian border a day after a Russian fighter plane violated Turkish airspace, the military said
yesterday. “Two F-16 jets were
harassed by a MIG-29 plane
— whose nationality could not
be identified — for a total of
five minutes and 40 seconds,”
the army said in a statement,
saying the incident took place
on Sunday. Turkey said earlier
its F-16 jets on Saturday intercepted a Russian fighter plane
which violated Turkish airspace
near the Syrian border, forcing
the aircraft to turn back. — AFP
Carter: Russia pursuing
losing strategy in Syria
IS blows up Arch of Triumph in Palmyra
BEIRUT: Islamic State (IS) extremists have blown up the famous Arch
of Triumph in the ancient Syrian
city of Palmyra, the country’s head
of antiquities said yesterday, as
the jihadists press their campaign
to tear down the treasured heritage site.
The militants have carried out
a sustained campaign of destruction against heritage sites in areas
under their control in Syria and
Iraq, and in mid-August beheaded Palmyra’s 82-year-old former
antiquities chief.
Syrian antiquities director Maamun Abdulkarim warned of impending catastrophe in the Unesco-listed world heritage site, which
the jihadists have been dismantling
since capturing the ruins in May.
“This is a systematic destruc-
tion of the city. They want to raze it
completely,” Abdulkarim told AFP.
“They want to destroy the amphitheatre, the colonnade. We now
fear for the entire city,” he added.
Known as the “Pearl of the Desert”, the ancient oasis town of Palmyra, situated about 210km northeast of Damascus, became famous
as a stopping point for caravans
travelling on the Silk Road. — AFP
Pressure on US as MSF demands probe into Kunduz ‘war crime’
BY A NUJ CHOPRA
IN BRIEF
Doctors Without Borders (MSF)
branded a war crime.
MSF said on Sunday it had
closed the trauma centre, seen as
a lifeline in a war-battered region
with scant medical care, and demanded an independent probe
into Saturday’s devastating air raid.
President Barack Obama has
promised a full investigation but the
international outrage over the deadly
incident has piled pressure on Washington for a more transparent probe.
“Under the clear presumption
that a war crime has been committed, MSF demands that a full
and transparent investigation into
the event be conducted by an independent international body,”
MSF general director Christopher
Stokes said. — AFP
MADRID: US Defence secretary Ashton Carter said yesterday that Russia is pursuing a
“losing strategy” in Syria and
that it must live up to its commitments in Ukraine. Speaking
in Madrid at the start of a fiveday trip to Europe, Carter told
Spanish military officials that by
carrying out bombing in Syria,
Russia has only worsened the
4½-year-old conflict. Russia last
week started air strikes in Syria.
Moscow claimed it was hitting
Islamic State jihadists, but the
Pentagon says Russian jets are
targeting rebel groups in order
to support the regime of President Bashar al-Assad. — AFP
Ukraine starts light
weapons withdrawal
KIEV: Ukraine has started withdrawing tanks and light artillery from the front line in the
eastern region of Luhansk in
accordance with a recent agreement with pro-Russian separatists, the Ukrainian military said
yesterday. Ukraine and separatist leaders agreed last week to
extend a pullback of weapons
in eastern Ukraine, which rebels said could mean an “end
to the war” with the Ukrainian government. Ukraine has
360 tanks in the conflict zone
and 1,400 armoured personnel
carriers, according to military
data published at the end of
August. — Reuters
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
W O R L D 27
China typhoon kills seven, injures hundreds, knocks out power
BEIJING: A typhoon bringing heavy
rain churned inland through southern China yesterday, a day after
making landfall, killing at least
seven people, injuring hundreds,
knocking out power and overturning cars.
The storm made landfall in the
Woman sits
dead for hours
in McDonald’s
restaurant
HONG KONG: A homeless woman lay dead at a Hong Kong McDonald’s restaurant for hours
surrounded by diners who failed
to notice her, sparking concern
over the city’s “McRefugees”.
The woman, who police say
was between 50 and 60, was
found dead Saturday morning
and has been held up as an example of the growing number
of homeless people who seek
shelter in 24-hour restaurants.
“Officers arrived upon a report from a female customer
[that a person was found to have
fainted],” police said in a statement.
“The subject was certified
dead at the scene.”
Local media said the woman was slumped at a table, 24
hours after she first entered the
restaurant in the working class
district of Ping Shek.
She had not moved for seven hours before fellow diners
noticed something was wrong,
according to Apple Daily, citing
CCTV footage.
The woman was thought to
have regularly spent nights in
the McDonald’s, the South China
Morning Post said.
The city’s Social Welfare Department said it was “highly concerned” about the incident.
“We endeavour to support
street sleepers to enhance their
self-reliance... the subject is a
complex social problem,” a department spokeswoman said.
There are concerns over the
plight of the homeless population in the affluent southern
Chinese financial hub, although
the number of homeless is relatively low, estimated at more
than 1,000 by local NGOs.
Many are forced to live on
the street as they cannot afford
to rent even the tiniest home as
housing prices are sky high.
In sweltering temperatures
and high humidity, some find
shelter in air-conditioned restaurants that are open around
the clock.
“McDonald’s Hong Kong
would like to express our grief
over the unfortunate incident at
our Ping Shek Estate restaurant,”
Wendy Lam, senior director of
McDonald’s Hong Kong, said.
“We welcome everyone to
visit our restaurants any time. In
order to provide a pleasant dining environment, we would not
disturb our customers, but our
service will be offered promptly
upon request,” she added. — AFP
southern province of Guangdong
on Sunday, triggering widespread
blackouts, state media said. Winds
knocked out power grids along the
coast, leaving large areas without
electricity, water or telecommunications.
T V footage showed trees
snapped in two by a tornado
spawned by the storm and a building at a construction site raised
from the ground like a toy. A crane
toppled from a high-rise under
construction.
The storm is expected to lose
strength as it heads northwest.
Authorities warned that flooding
and mudslides were possible in the
southwestern province of Yunnan.
The typhoon coincides with a
week-long public holiday in China, and tourist spots including a
popular volcanic island have been
closed. — Reuters
Former Hong Kong
leader seen in court
over corruption
BANGKOK: Thailand’s military
government, which took power in May last year, appointed a
committee to draft the country’s
20th constitution yesterday after
a previous draft was rejected, delaying promised elections until at
least 2017.
The junta-appointed legislature
dismissed the military-backed
VATICAN CITY: Pope Francis
said yesterday that the Church
was “not a museum” but a place
for progress, as members of a
key synod on the family rolled
up their sleeves for the first day
of what promises to be a spicy
debate. Francis urged a spirit
of “solidarity, courage and humility” as the Catholic Church’s
conservative and liberal wings
began tackling hot button topics from communion for remarried divorcees to acceptance of
homosexuality. The 78-year old
reminded red-hatted cardinals
and purple-sashed bishops that
the Church was “not a museum
to keep or preserve. It’s a place
where the holy people of God
move forward”. — AFP
Koreas exchange list
of candidates for
family reunion
North Korea frees South
Korean student held
since April
of Shenzhen which was owned by
a major investor in a broadcaster
seeking a licence from the Hong
Kong government, the ICAC said.
Tsang also failed to declare that
an architect he proposed for a government award was employed as
an interior designer on the flat,
the ICAC added.
The case comes less than a year
after Hong Kong property tycoon
Thomas Kwok and the government’s former deputy leader Rafael
Hui were jailed for graft after Hui
was found guilty of taking bribes
from Kwok and Kwok’s brother
Raymond.
While serving as chief secretary for administration, Hui was
Tsang’s deputy from 2005 to 2007.
Hui was jailed in December for
seven and a half years on a total
of five graft charges, making him
the highest-ranking official in the
city’s history to be found guilty of
taking bribes. — AFP
New Thai constitution to be written
BY AMY SAW ITTA LE FE V RE
& PANAR AT TH E P G U M PANAT
Pope urges Church to move
forward as gay issue
overshadows synod
SEOUL: North and South Korea
yesterday moved a step closer to a
rare reunion for families separated for decades by the Korean War
by exchanging a list of candidates
for the event this month. Red
Cross officials from both sides
met in the border truce village of
Panmunjom and exchanged the
list after ensuring candidates still
have living relatives on the other
side, the South’s unification ministry said. Last Thursday, Seoul
was set to release the final list of
about 100 people who will travel
to the North’s Mount Kumgang
resort for the Oct 20-26 reunion,
it said, adding Pyongyang would
do the same. — AFP
Donald Tsang says his ‘conscience is clear’
HONG KONG: Hong Kong’s former
leader Donald Tsang, who ended
his term in disgrace after accepting
lavish gifts from tycoons, appeared
in court yesterday charged with
misconduct in the latest high-profile corruption case to hit the city.
A grim-faced Tsang, 70, was released on bail after saying earlier
in a statement his “conscience is
clear” over the allegations.
Tsang ended his term in disgrace in June 2012 after admitting
to accepting gifts from tycoons in
the form of trips on luxury yachts
and private jets, but insisted there
was no conflict of interest.
He has since been under investigation by the city’s Independent
Commission Against Corruption
(ICAC).
Tsang, 70, who held the leadership post of chief executive for seven years from 2005, would become
the highest-ranking Hong Kong
official to face a corruption trial.
In a statement issued to the
South China Morning Post, Tsang
said he had a “clear conscience”.
“I have every confidence that
the court will exonerate me after
its proceedings,” he said.
The ICAC said Tsang had been
charged with two counts of misconduct in public office.
The charges relate to his failure
to disclose his plans to lease a luxury flat in the southern Chinese city
IN BRIEF
constitution last month after it
was met with strong opposition
by almost all sides of the political
divide, in effect playing into the
military’s hands by prolonging
army rule.
A major point of contention was
the creation of a National Committee on Reform and Reconciliation
Strategy that would be dominated
by the military, allowing it to exercise power over the executive and
legislative branches in a vaguely
defined “crisis” situation.
The new, 21-member committee has six months to write a new
draft and will need approval by the
legislature and to put the constitution to a referendum, something
that would delay elections until
at least 2017, said deputy Prime
Minister Wissanu Krea-ngam.
The committee, made up of lawyers, academics, civil servants and
military types, starts work immediately. — Reuters
SEOUL: North Korea repatriated
a South Korean college student
who holds a US green card yesterday, six months after capturing him crossing into the country
from China, South Korea’s Unification Ministry said. The release
of Joo Won-moon, who had been
a student at New York University, came days before the North
celebrates the 70th anniversary
of the ruling Workers’ Party on
Saturday. A unification ministry
official said Joo was handed over
at the Panmunjom truce village
along the heavily militarised border at around 5.30pm Seoul time
(0830 GMT). — Reuters
Japanese, Chinese, Irish
scientists win 2015 Nobel
medicine prize
STOCKHOLM: William Campbell, Satoshi Omura and Youyou
Tu jointly won the 2015 Nobel
prize for medicine or physiology for their work against parasitic diseases, the award-giving
body said yesterday. “This year’s
Nobel Laureates have developed
therapies that have revolutionised the treatment of some of
the most devastating parasitic
diseases,” the Nobel Assembly
at Sweden’s Karolinska Institute
said in a statement in awarding
the prize of eight million Swedish kronas (RM4.2 million). —
Reuters
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
28 WORLD
Tsipras will walk tightrope
with unveiling of new budget
As the Greek PM tries to win back the trust of the country’s European partners
BY N I KOS C H RYS OLOR AS
ATHENS: Greek Prime Minister (PM)
Alexis Tsipras was scheduled to unveil his government’s policy plans
for its new term in office yesterday,
including a draft budget for 2016, as
he tries to win back the trust of the
country’s European partners.
In a three-day-long parliamentary debate set to conclude with a
vote of confidence tomorrow, the
41-year-old leader will seek to strike
a balance between complying with
creditors’ demands and fulfilling his
French PM jokes
with robots
during Japan visit
TOKYO: Robots have already
begun taking the place of workers in a host of industries but
how long before they replace
politicians?
That was the thorny philosophical question French Prime
Minister encountered during a
visit to Japan on Monday.
During one of his many
meet-and-greets, Manuel
Valls was introduced to Nao
and Pepper, two chatty robots
who deferentially welcomed
him to the stage as “the minister of ministers”. “I very much
admire the scope of their talent,” Valls quipped in return.
“But I hope in any case, for
the moment, that their innovation stops before they are able
to become a Prime Minister, or
minister of ministers,” he added.
Valls’ three-day trip, which
included a meeting with Prime
Minister Shinzo Abe on Saturday, has been billed as a celebration of Japanese-French
cooperation.
Pepper and Nao are both
good examples of that. They
were designed and programmed by French robotics
company Aldebaran before it
was purchased by Japanese
mobile giant Softbank.
Both robots are available for
purchase in Japan with Pepper — which, according to its
makers, can read people’s emotions — costing a cool US$1,600
(RM6,992).
The steep price tag has done
little to dent its popularity in
a country obsessed with robots.Within a minute of Pepper going on sale in June, the
initial shipment of 1,000 units
sold out.
But Softbank does not want
their technological marvel becoming too popular with users. — AFP
election-campaign promises for a
“parallel programme” to alleviate the
impact of austerity. European leaders
are pushing Greece for deep spending cuts and economic overhauls.
“Comrades, we have an important and difficult task ahead: to implement the agreement of July 12,”
Tsipras told lawmakers of his Syriza
party on Saturday, referring to the
bailout deal he struck in the summer. “At the same time, we have to
negotiate on the issues that are still
open, which we fought to keep open,
to hold the ground we gained.”
Tsipras is trying to contain the
economic fallout from the six months
of wrangling with creditors that
preceded the July deal. The government’s priority is restoring collective
bargaining in labour markets and
tackling the issue of non-performing loans while protecting primary
residences from foreclosures, he told
lawmakers on Saturday.
European authorities, meanwhile,
are pushing Greece to implement
48 “milestones” by mid-October
in order to secure the next tranche
from its bailout, according to a doc-
ument obtained by Bloomberg News
last Friday. They include amending
laws on household insolvency and
early retirement in the public sector.
Tsipras said there’s still room
for negotiation with creditors on
“equivalent measures” for some
parts of the austerity programme,
including opening up the electricity
market and a new round of pension
cuts. Both are among the dozens
of conditions included in Greece’s
bailout agreement with euro area
member states for unlocking emergency loans. — Bloomberg
Netanyahu vows ‘fight to death’
as clashes spread after attacks
BY LAURENT LOZ ANO
JERUSALEM: Prime Minister Benjamin Netanyahu pledged “a fight
to the death against Palestinian
terror” as clashes spread after two
deadly attacks, while Jerusalem’s
Old City was closed to Palestinians
for a second day yesterday.
The Israeli premier’s comments
late on Sunday came as he convened security chiefs immediately
after landing back from the United
States to discuss the clashes in east
Jerusalem and the West Bank.
Palestinian youths throwing
stones and firebombs have faced
off against Israeli security forces
using both live rounds and rubber bullets. Jewish settlers have
also clashed with Palestinians.The
rioting has followed three attacks
in recent days that have killed four
Israelis and wounded several others, including a two-year-old child.
Threatening to further stoke the
flames, Israeli troops shot dead
an 18-year-old Palestinian during
clashes in Tulkarem in the West
Bank on Sunday, Palestinian police
and medics said. Dozens of others
have been wounded. There have
been fears that the sporadic violence could spin out of control, with
some warning of the risk of a third
Palestinian intifada, or uprising.
Netanyahu, facing pressure from
right-wing members of his govern-
Hunt for missing after
devastating floods on
French Riviera
BIOT (France): Rescue workers searched yesterday for four
people still missing after floods
tore through the French Riviera, leaving 17 dead, while a
clean-up began of normally
glitzy towns now strewn with
mud and debris. Mediterranean resort towns beloved
by jet-setting tourists such as
Cannes, Nice and Antibes were
devastated by a torrential weekend downpour that trapped
residents in cars, parking garages and retirement homes.
Rivers of water gushed through
some of the world’s wealthiest
streets, scattering cars hundreds of metres from where
they were parked and destroying businesses in what were described as “apocalyptic” scenes.
Britain’s Foreign Office confirmed the death of a British
national in the floods, without
giving further details. — AFP
Germany expects 1.5
million asylum seekers
this year — report
BERLIN: Germany could receive up to 1.5 million asylum
seekers this year, according
to newspaper Bild, quoting a
confidential document containing estimates that are far
higher than publicly released
official figures. Authorities have
so far predicted that Europe’s
top economy would record between 800,000 and one million
new arrivals in 2015. But Bild
quoted the document saying
that the authorities were now
expecting to receive 920,000
new arrivals in the coming
three months alone, bringing the total number of asylum-seekers this year to 1.5
million. — AFP
Pakistan court jails
sectarian leader for
hate speech
ing coalition to respond forcefully,
announced a package of new measures “to prevent terror and deter
and punish the attackers”. They
included swifter demolition of the
homes of those accused of attacks,
broader use of detention without
trial for suspects, and police and
troop reinforcements for Jerusalem
and the West Bank. — AFP
‘Vietnam arrests ex-soldier for attempted subversion’
HANOI: A former soldier turned
democracy campaigner has been
arrested in Vietnam for attempted
subversion, sources said yesterday,
the same charge that previously saw
him jailed for more than five years.
Tran Anh Kim, 66, was taken
into police custody on Sept 21, a
IN BRIEF
source close to the family told AFP.
“I was informed several days
later that Kim would be jailed for
four months for investigation under Article 79 of the criminal code,”
the source said.
Article 79 is one of several vaguely-worded clauses in the criminal
code which rights groups say are used
by the communist country’s authoritarian rulers to persecute dissenters.
Le Cong Dinh, a human rights blogger who was jailed alongside Kim in
2009 and remains under house arrest,
said he had also been informed of the
dissident’s detention. — AFP
RAWALPINDI: A Pakistan anti-terrorism court yesterday
sentenced a former leader of
a banned sectarian party to six
months in jail for hate speech,
part of a crackdown after last
year’s deadly Peshawar school
attack. Pakistan had previously
tolerated many sectarian organisations, but has taken action this year as part of its grand
National Action Plan to counter
terrorism after a Taliban attack killed 153 people — mostly children — at the Peshawar
school. — AFP
Australia police probe
motives of teen gunman
SYDNEY: Australian Prime Minister Malcolm Turnbull said yesterday it was still not clear if the
teenager who shot and killed
a man outside a police headquarters was a self-motivated
“lone-wolf” attacker. Police have
not identified the black-clad
assailant who shot 58-year-old
finance worker Curtis Cheng in
the back of the head outside
New South Wales state police
headquarters in suburban Sydney last Friday. — AFP
TU E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
S P O RT S 2 9
Route opens for Australia-New Zealand World Cup final
LONDON: Competition for places
has made Australia more aggressive, according to Bernard Foley
the hero of their World Cup win
over England whose performance
has made the Wallabies favourites
to meet New Zealand in the final.
Foley and his teammates all insist they are concentrating only
on playing Wales in the Pool A table-topping decider next Saturday.
But others are already looking
forward to a Wallabies-All Blacks
Klopp, Ancelotti
top list to be
new Liverpool
manager
LONDON: Juergen Klopp and
Carlo Ancelotti are the leading
candidates to succeed sacked
Liverpool manager Brendan
Rodgers, according to reports
in the British media yesterday.
Rodgers, 42, was sacked on
Sunday after a 1-1 draw with
Everton left Liverpool 10th in
the Premier League table, albeit only three points below
the Champions League places,
following a sixth-place finish
last season.
Klopp, 48, has been out of
work since stepping down at
Borussia Dortmund at the end
of last season, while 56-yearold Ancelotti, who previously
worked in England with Chelsea, was sacked by Real Madrid
last May.
Several news outlets, including Sky and the BBC, reported
that Klopp was the frontrunner,
having led Dortmund to two
Bundesliga titles and a Champions League final appearance
in 2013.
Announcing Rodgers’ departure, Liverpool’s American
owners Fenway Sports Group
said: “The search for a new
manager is under way and we
hope to make an appointment
in a decisive and timely manner.”
Rodgers, who took over in
June 2012, led Liverpool to
a second-place finish in the
Premier League in 2014. But
Liverpool have since lost Luis
Suarez, Steven Gerrard and
Raheem Sterling and despite
significant investment in new
players, Rodgers struggled to
reproduce a winning formula.
“Liverpool need a manager
who is big enough to handle
the pressure, without thinking
he is bigger than the club,” former Liverpool defender Mark
Lawrenson wrote in an article
for the BBC.
“Whoever it is will have to
buy into the mindset of the
American owners — they
want success, but their model
is to try to get that by signing
younger players they can train
up and, sometimes, sell on.
Klopp is the favourite to get
the job and he would fit the
bill.” — AFP
clash at Twickenham on Oct 31.
The Waratahs fly-half did not
know he would be Australia’s first
choice No 10 before the tournament. But his 28 point extravaganza
that killed hosts England’s World
Cup dream on Saturday has propelled him to the forefront of the
World Cup stage.
The battle for places “has definitely helped,” said Foley. It has
been one of the features, along with
the Wallabies reinvigorated scrum,
brought in by coach Michael Cheika.
“The competition in every training session and the intensity the
whole squad has applied on each
other has put this team in a really
good spot,” added the 26-year-old
who has Quade Cooper as a rival
for the fly-half position.
But Foley said Australia must
not be complacent after resisting
England’s “extreme” pressure even
though the victory has given them
confidence. “We have to worry
about Wales next week, and whoever after that we will focus on after that. For us it is week by week,”
said Foley.
But with England out and South
Africa battered after their defeat by
Japan, others are already looking to
a first ever Australia-New Zealand
final. If both top their respective
pools they will be in separate halves
of the knockout stage draw. British
bookmakers have made the clash
their favourite.— AFP
Malaysia sanctioned
for crowd trouble
Fifa also fines FAM 40,000 Swiss francs
KUALA LUMPUR: Malaysia have
been issued with a formal warning
and a raft of other sanctions from
soccer’s world governing body Fifa
after their World Cup qualifier against
Saudi Arabia last month was abandoned because of crowd trouble.
Fifa took a dim view of the crowd
disturbances in Malaysia and announced yesterday a series of penalties against the Football Association of Malaysia (FAM), which was
hosting the match so deemed to
be responsible for crowd control.
Fifa’s disciplinary committee
ruled that the match had been
deemed to be forfeited by Malaysia, awarding Saudi Arabia a 3-0
win, and Malaysia’s next World Cup
qualifier at home, against United
Arab Emirates on Nov 17, would
be played without any spectators.
Fifa also fined the FAM 40,000
Swiss francs (RM180,276) and issued a warning.
The visiting Saudi Arabia team
were leading 2-1 in the Group A
Asian qualifier at the Shah Alam
Stadium in Selangor on Sept 8 when
play was stopped three minutes
from the end after fans launched
flares and fireworks onto the pitch.
Players from both teams fled the
pitch as thick smoke began filling
the ground and did not return. The
match was later abandoned and a
report on the incident sent to Fifa.
Malaysia have slipped to 171st
in the latest world rankings and
are already bottom of the group
standings after suffering a record
10-0 loss to UAE, infuriating some
local supporters who had threatened to protest during the match.
Dollah Salleh recently resigned
as coach and the FAM appointed
former international midfielder
Ong Kim Swee as caretaker.
In the lead-up to last month’s
match, Malaysian officials pleaded with disgruntled supporters not
to disrupt the game and deployed
hundreds of extra police in anticipation of trouble. — Reuters
World’s highest marathon
returns to quake-hit Everest
KATHMANDU: Dozens of runners
donned snow goggles and braved
icy temperatures to participate in
the world’s highest marathon in the
foothills of Mount Everest yesterday,
five months after a 7.8-magnitude
earthquake devastated Nepal.
The annual Tenzing-Hillary Everest Marathon, which kicked off in
2003, is usually held in May to mark
the anniversary of the first conquest
of Everest by Tenzing Norgay and
Edmund Hillary on May 29, 1953.
But organisers postponed this
year’s race to October after a massive earthquake hit the Himalayan
nation in April, killing nearly 8,900
people and triggering an avalanche
on the base camp that left 18 dead.
“We decided not to cancel the
race entirely because we wanted to
send a positive message about Nepal to the world and help revive our
tourism industry,” organiser Shikhar
Pandey told AFP.
“Everest represents Nepal. We
want to tell the world that Nepal is
safe by successfully organising an
event like this,” he said.
Fifty-four people from countries
IN BRIEF
Chia eyes EurAsia Cup
spot after Taiwan Masters
triumph
KUALA LUMPUR: Malaysia’s
pro golfer, Danny Chia is eyeing
an automatic spot in Team Asia
for the EurAsia Cup presented
by DRB-Hicom in January after leaping to 8th position on
the Asian Tour’s Order of Merit
following his long-awaited second Tour victory on Sunday.
According to Asian Tour statement yesterday, the 42-year-old
veteran took his season’s tally
to a career high of US$188,138
(RM823,009) after winning the
Mercuries Taiwan Masters by
two shots from China’s Liang
Wen-chong. “It will be great if
I can get into the EurAsia Cup.
Playing in it will definitely be
a good experience,” said Chia.
— Bernama
Lahiri aims for double
victory at CIMB Classic
KUALA LUMPUR: Current
Asian Tour Order of Merit
leader, India’s Anirban Lahiri
aims to clinch a magical Malaysian double victory when
he tees up at the US$7 million
(RM30.62 million) CIMB Classic
later this month. According to
an Asian Tour statement yesterday, the 28-year-old Indian
star is enjoying the season of his
life where he has claimed two
victories, enjoyed a career high
tied 5th place finish in a Major
and earned a debut appearance
at the President’s Cup. But Lahiri hopes a return to the Kuala Lumpur Golf and Country
Club’s West course from Oct 29
to Nov 1, will see him standing
victorious again. — Bernama
Arsenal’s defensive play
pleases Mertesacker
LONDON: Arsenal’s clean
slate in the comprehensive
3-0 Premier League win over
Manchester United on Sunday
will give the side confidence to
build on their defensive display, defender Per Mertesacker has said. The Gunners were
three goals up within the first 20
minutes against United, thanks
to a goals from Alexis Sanchez
and Mesut Ozil and the result
saw them climb to second on
the league table, two points
behind Manchester City after
eight games. Arsenal have kept
four clean sheets, the second
highest in the league, and are
among the teams who have
conceded the least goals so far
this season. — Reuters
Petkovic sorry for
slamming Chinese fans
including the United Kingdom, United States, Israel, Poland and Australia took part in this year’s race, with
half of the participants belonging
to Nepal.
Nepali soldier Bhim Gurung
bagged first place by completing the
marathon in four hours, one minute
and 54 seconds.
“A race at this altitude is very difficult. I am very happy to have come
first,” he said. — AFP
BEIJING: Germany’s Andrea
Petkovic apologised yesterday after she caused a furore
by criticising the behaviour of
Chinese fans at last week’s Wuhan Open. As an umpire tried
to rein in tennis spectators, an
irritated Petkovic advised: “Say
it in Chinese, not in English.
The English (speaking) people
know how to behave.” Footage
of the incident quickly did the
rounds on social media, with
some contributors accusing
her of racism. — AFP
30
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
live it!
T UE
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
MONTBLANC
Montblanc Nightflight
Document Case & Duffel Bag.
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new
des
tha
per
her
wh
STYLE & PERFORMANCE
Montblanc introduces special
edition collection inspired by
luxury carmaker BMW and its
latest 7 Series
Fan
Hel
lets
flex
tion
and
wan
BY HANNAH M ER ICAN
L
uxury brand Montblanc has teamed
up with carmaker BMW to create a
special collection of accessories that
brings together fine craftsmanship
and contemporary design, inspired
by the luxury automotive experience
of the carmaker’s flagship vehicle. This range includes a selection of customised leather goods,
writing instruments and a special car key sleeve
cut exclusively for the new BMW 7 Series digital
Display Key.
This collection was birthed in conjunction
with the launch of the new generation of 7 Series that aims to redefine the driving experience,
with ground-breaking technologies incorporated
into its lightweight design, operating systems, intelligent connectivity and interior ambience for
maximum driving pleasure and comfort. The car’s
Montblanc for BMW Leather &
writing instruments collection.
Pri
Thi
at g
Eve
tex
on
its
uat
Montblanc for BMW
Meisterstück key sleeve.
combination of proportions and drive precision
sets a new benchmark for the company, and such
an achievement should be marked.
Montblanc honours BMW’s heritage and penchant for design and innovation with an amazing
range that includes its own icon — the Meisterstück
pen. With its distinctive barrel and cap in black
precious resin and contrasting platinum-plated
fittings, the Meisterstück pen is one of Montblanc’s most famous writing instruments. For
this collection, the clip of the Meisterstück Platinum Line LeGrand fountain pen and roller ball
are laser-engraved with the BMW ‘7’ pattern as a
reference to the luxury automotive manufacturer. The handcrafted Au585 gold Montblanc M nib
also showcases the brand’s penchant for sophisticated design with its rhodium-plated
inlay which brings to mind the smooth
sensation of driving a BMW.
The leather goods from this collection are crafted from shiny,
black Italian calf leather, and
enhanced with Jacquard
lining for a sophisticated
touch. Showcasing Montblanc and BMW shared
penchant for luxury and
performance, each piece
from the leather collection
is handcrafted by the Florence-based leather goods
manufacturer, Montblanc
Pelletteria.
Characterising the collection is the embossed
BMW 7 Series pattern with the Montblanc emblem
at the centre of a palladium coated ring, as seen on
the Meisterstück Business Card Holder, Meisterstück Pen Pouch, and Meisterstück Passport Holder.
For the urban explorer who is constantly on
the go, the Montblanc Nighflight document case
and duffel bag make great travelling companions thanks to their comfort and functionality.
The case and bag are made of nylon with leather
trimmings and are resistant to stains, water and
scratches. They also have special compartments
for storage and comfortable leather straps complete with jacquard lining. Both items also have
a luggage tag that is embossed with both BMW
and Montblanc’s signatures. Stylish jetsetters will
certainly love these.
At the centre of the collection is the Meisterstück
car key sleeve that has been created to perfectly fit
the new BMW digital Display Key. The sleeve protects the car key as it operates by touch display and
gives important information to the driver such as the
car status, fuel tank and battery level. The sleeve enhances the relationship between the car and owner
by providing a distinguished accessory for the car.
With its cutting-edge design and innovative
pieces, Montblanc takes luxury to new heights
with this new collection. Whether you plan to
drive, jet-set or write in style, this collection has
everything for you.
The Montblanc for BMW special collection will
be available at both BMW dealerships and Montblanc boutiques worldwide from March 2016.
The
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Pri
abo
P
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T U E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
live it! 31
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
STYLE + DESIGN
BY HANNAH M E RI C AN
Classic Gold & Jewellery’s new
collection is an exquisite mix of fine
craftsmanship and intricate design
CLASSIC Gold & Jewellery presents Italian Gold, a
new collection that features an expanding range of
designs and styles. Jewellery lovers will be glad to know
that it comprises three new ranges, all of which are
perfect for the lady who enjoys a little bit of luxury in
her life. Italian Gold embodies an essence of eternity
which is highlighted in the new stunning designs.
Primavera Graduated Collection
This feminine bracelet collection is made from 18-carat gold which is woven into luxurious mesh bracelets.
Every piece is a combination of smooth and supple
texture and shine. The bracelets are ideal for someone who enjoys making a bold statement thanks to
its glamorous yet classic appeal. The Primavera Graduated bracelets are secured with a spring-ring clasp.
Spring Omega
For a modern yet elegant touch, Spring Omega
exudes a feminine sophistication. The bracelets
from this range are available in 18-carat yellow
gold or white gold with designs that are guaranteed to give you confidence and femininity in
day-to-day life. These bracelets make the perfect
gift thanks to their simplistic designs.
Fancy Bangles
Held together by a lobster clasp, these stylish bracelets are made of multi-rows of gorgeous beads in a
flexible in-line setting. Each bracelet in this collection is a statement making piece that balances classic
and current styles and is a great pick for anyone who
wants a new, fresh take on jewellery.
PICK OF THE DAY
IF you are planning to purchase the latest Samsung Galaxy Note, you now have more colours to choose from. In
addition to the existing Gold Platinum and White Pearl
colour, the mobile device is now available in Black Sapphire and Silver Titanium. Add some colour to your electronic gadgets with these four options. The recommended
retail price of the Samsung Galaxy Note5 is RM2,699 and
is available at all Samsung authorised stores. More product information can be found at www.samsung.com/my/
note5. If you are using the old Galaxy Note series, you can
enjoy special trade-up promotions at the Samsung Galaxy Note5 roadshows. Further details on the roadshow
and trade-up can be found at www.samsung.com/my/
note5tradeup.
The new Italian Gold collection is currently available
at Classic Gold & Jewellery retail stores nationwide.
Prices start from RM1,993 onwards. To find out more
about the collection visit www.classicgold.com.my.
Personal
ASSISTANT
CO MPI L ED BY SHALINI YEAP
WORK. LIFE. BALANCE
Indulge in culinary delights like lamb meatball in capers sauce and parsley, beef fillet
steak with sautéed mushroom, slow braised
short ribs as well as white fish fillet with lemon and dill cream sauce at the German Fest
at Cinnamon Coffee House. The buffet spread
consists of hearty starters, main dishes and
desserts. Enjoy the buffet priced at RM128
nett per adult and RM64 nett per child (aged
4 to 12 years) at Cinnamon Coffee House, One
World Hotel, First Avenue, Bandar Utama
City Centre, 47800 Petaling Jaya, Selangor.
Call (03) 7681 1157 or e-mail [email protected]
oneworldhotel.com.my for enquiries.
Tonight, Pisco Bar invites you to enjoy a movie
and the chance to tango your Tuesday night
away in a dance session afterwards! So sit back
and enjoy the movie over drinks and snacks,
happening from 8pm onwards at 29 Jalan
Mesui, Off Jalan Nagasari, 50450 Kuala Lumpur. Admission is free and if you would like to
secure your spot, make a booking via e-mail
to [email protected] Visit www.facebook.
com/piscobarkl or call (03) 2142 2900 for more.
Catch the exhibition of the artworks produced
by New York-based artist Eng Tay in the last 10
years, at Art Accent Gallery all this week. Works
From 2005-2015 is the artist’s latest solo exhibition at the gallery which will feature various
oil paintings and sculptures. Art Accent Gallery
is located at Lot 2F-9 & 10, Bangsar Village 2,
Jalan Telawi 1, Bangsar, 59100 Kuala Lumpur.
Swing by between 10am and 10pm to view or
purchase the artworks. Call (03) 2287 1908 or
log on to www.artaccent.com.my for more.
32
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE F I N AN C I AL DAI LY
live it!
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
Zen TODAY
VIVIENNE WESTWOOD
CALLS TO ‘SAVE VENICE’
BY A NN E- L AU RE M ONDESERT
S
ave Venice was the theme of Vivienne Westwood’s latest Paris fashion show as the famed designer and
eco-activist called for action on climate change.
The grand dame of British fashion brought a taste of Venetian carnival to the
catwalk on the fifth day of Paris fashion shows
on Saturday.
Masked harlequins and macabre jesters,
distorted faces and neon makeup — Westwood’s spring-summer 2016 collection paid
homage to Venice’s famed carnival, and
married it with flashes of her renowned
punk ethic.
The Gold Label collection, presented in a
show called Mirror the World, focused on the
need to restore the lost glory of Venice. “The
problem there is one of repair, but also one of
climate change,” said Westwood in a video on
her blog ahead of the show.
She praised the Renaissance period of the
city as “the period of the greatest flourishing of
art that the West has ever known. Venice was
an emporium of culture.”
Westwood is known as perhaps the most
political of fashion’s top tier designers, and
she used the build-up to Saturday’s show
to call on people to join a march against
climate change and economic austerity
in London on Nov 29. “It will be massive,”
she said in the video. “Bring your children.
The more people, the better the chance to
change the world.”
Her show in London last month had focused
on opposing austerity measures.
The Paris show itself focused on her love of
the Venice carnival — “everyone in disguise
in St Mark’s Square or disappearing around
corners in those narrow streets,” she said. “The
mask hides a time of altered states, where the
poor become rich and vice versa or the ugly become attractive. It dates from a primitive time
when people indulged in excess so that their
sins could be forgiven before a new spring.”
Among the other designers on display on
Saturday, Elie Saab brought the floral displays,
lacy elegance for which she is known, with reality star and US model Kendall Jenner leading the
parade. There was also a rare nod to streetwear
from the Lebanese designer — a satin bomber
jacket in dramatic coloured stripes; a flowery
blouse with a jacket and trouser ensemble.
Military uniforms inspired the show by
artistic director David Koma, presenting his
latest collection for fashion house Mugler.
The catwalk was transformed into a landing
strip and the women wore black, white, marine and khaki, with the focus on epaulettes,
belts, pockets and leather.
Meanwhile, Guillaume Henry’s second show
for Nina Ricci used some interesting fabrics
including organza, a sheer and silky fabric, as
well as varnished ostrich leather and feathers.
The women were sensual night owls in
tights and sandals, transparent tops with extra-long sleeves, worn with loose pants or a
miniskirt. Among the notable creations were
apron dresses available in cow hide, glossy
black, or slate green. — AFP Relaxnews
4.98
The illiterate of the
future will not be
the person who
cannot read. It will
be the person
who does not
know how
to learn.
— Alvin Toffler
128.98
TU E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
Markets 3 3
BURSA MAL AYSIA MAIN MARKET
Bursa Malaysia
YEAR
HIGH
Sectorial Movement
INDICES
CLOSE
+/-
%CHG
KLSE COMPOSITE
1,647.59
KLSE INDUSTRIAL
INDICES
CLOSE
+/-
%CHG
18.79
1.15
TECHNOLOGY
21.61
0.14
3,219.70
31.99
1.00
FTSE BURSA 100
11,077.39
110.08
CONSUMER PRODUCT
569.50
2.22
0.39
FTSE BURSA MID 70
12,358.91
62.98
0.51
INDUSTRIAL PRODUCT
138.63
1.59
1.16
FTSE BURSA SMALL CAP
14,948.98
169.46
1.15
CONSTRUCTION
265.79
3.13
1.19
FTSE BURSA FLEDGLING
15,029.71
161.68
1.09
TRADE & SERVICES
220.26
1.97
0.90
FTSE BURSA EMAS
11,365.23
114.03
1.01
14,121.76
177.35
1.27
FTSE BUR M’SIA ACE
5,687.70
140.55
2.53
KLSE FINANCIAL
0.65
1.00
KLSE PROPERTY
1,159.55
7.16
0.62
FTSE BUR EMAS SHARIAH
12,077.66
126.03
1.05
KLSE PLANTATION
7,326.62
23.45
0.32
FTSE BUR HIJRAH SHARIAH
13,836.40
156.03
1.14
498.50
8.11
1.65
FTSE/ASEAN 40
8,148.47
252.14
3.19
KLSE MINING
Bursa Malaysia Main Market
YEAR
HIGH
YEAR
LOW
DAY
HIGH
CONSUMER PRODUCTS
0.745 0.550 0.600
4.334 2.995 4.000
6.382 4.775 6.100
0.600 0.220 0.285
5.014 4.050 4.890
3.700 1.400 1.410
4.390 3.080
—
71.775 56.740 61.200
0.140 0.045 0.055
0.220 0.015
—
1.150 0.680 0.745
1.280 0.708 1.070
0.584 0.333
—
0.445 0.230
—
13.732 9.825 12.000
0.956 0.720 0.770
2.970 1.708 2.770
0.665 0.400 0.665
3.110 0.980 1.770
0.115 0.050 0.055
2.630 1.263 2.530
1.360 1.056 1.250
0.130 0.065 0.130
0.080 0.040
—
1.042 0.757
—
48.000 39.447 47.080
0.170 0.065 0.080
0.170 0.085
—
0.280 0.165 0.220
0.275 0.170 0.240
2.266 1.750
—
0.277 0.167 0.205
0.990 0.620 0.730
18.891 14.956 18.600
0.830 0.475
—
1.627 0.934 1.060
0.580 0.300
—
0.957 0.595
—
14.980 11.750 13.840
1.220 0.720 0.920
2.822 2.070 2.210
1.130 0.930 0.990
0.175 0.040 0.075
6.890 3.717 5.740
1.180 0.415 1.020
0.552 0.304 0.460
3.500 2.680 3.180
1.377 0.724 1.270
0.515 0.340
—
3.161 1.341 2.300
1.070 0.596 0.920
1.170 0.385 0.675
3.680 1.766 3.340
2.830 1.284 2.460
0.545 0.095 0.180
0.935 0.450 0.700
2.720 1.800 2.150
1.500 0.920
—
0.155 0.075 0.100
7.500 3.014 7.050
5.540 2.950 5.540
0.285 0.130 0.155
0.405 0.150 0.300
7.250 2.210 7.160
0.925 0.550 0.770
2.388 1.187 1.890
5.700 2.364 5.640
0.255 0.080 0.105
1.850 1.160 1.320
1.300 0.850
—
1.417 1.046 1.200
5.357 4.620
—
0.230 0.065 0.100
1.536 1.100
—
73.817 63.743 72.800
2.735 2.201 2.300
0.245 0.080 0.090
0.445 0.212 0.270
0.810 0.592 0.740
1.603 0.583 1.500
7.863 6.355 7.000
1.749 1.252 1.410
22.219 16.951 21.080
0.747 0.577
—
0.300 0.200
—
0.630 0.275 0.385
1.350 0.755 0.950
0.375 0.165 0.210
0.595 0.352 0.450
3.520 1.075 3.520
15.974 13.212 15.800
0.607 0.463
—
2.730 0.929 2.590
1.560 0.990 1.290
2.476 1.258 2.270
4.255 3.031 4.070
1.710 1.000 1.500
2.800 1.295 2.750
0.585 0.365 0.465
0.700 0.340 0.615
0.700 0.320 0.640
1.770 0.685 1.770
3.270 1.465 2.490
0.080 0.040 0.045
2.190 1.710 1.850
0.864 0.730
—
0.654 0.365 0.495
0.635 0.280
—
0.740 0.455 0.500
4.517 2.262 2.520
0.701 0.355
—
2.220 1.060 1.680
1.625 1.250 1.250
0.609 0.445 0.540
0.625 0.350 0.500
11.702 7.410 7.800
1.796 1.337 1.550
0.600 0.408
—
0.195 0.084 0.130
0.670 0.220
—
0.690 0.327 0.440
2.214 1.220 1.770
0.365 0.190
—
1.170 0.766 0.970
3.490 1.165 2.650
2.319 1.390 1.480
INDUSTRIAL PRODUCTS
1.260 0.717 0.975
0.210 0.110 0.150
0.640 0.324 0.555
0.650 0.240 0.320
1.070 0.760 0.915
2.520 1.772 2.010
* Volume Weighted Average Price
DAY
LOW
0.600
3.860
6.000
0.285
4.880
1.400
—
60.020
0.050
—
0.730
1.010
—
—
11.880
0.770
2.750
0.650
1.720
0.055
2.440
1.230
0.115
—
—
47.000
0.075
—
0.215
0.230
—
0.195
0.705
18.460
—
1.060
—
—
13.640
0.920
2.210
0.990
0.070
5.700
0.980
0.450
3.100
1.230
—
2.280
0.895
0.670
3.280
2.440
0.145
0.690
2.100
—
0.085
6.980
5.400
0.140
0.290
7.100
0.760
1.790
5.470
0.100
1.310
—
1.200
—
0.095
—
72.320
2.300
0.085
0.260
0.725
1.480
6.980
1.400
21.000
—
—
0.370
0.865
0.195
0.450
3.330
15.340
—
2.530
1.250
2.250
4.000
1.500
2.750
0.450
0.615
0.635
1.640
2.430
0.045
1.840
—
0.475
—
0.485
2.390
—
1.620
1.250
0.540
0.500
7.530
1.550
—
0.120
—
0.425
1.690
—
0.930
2.550
1.450
0.955
0.135
0.550
0.320
0.915
2.000
CODE
7120
7090
2658
7051
6432
7722
7129
4162
7243
7193
9288
7174
7154
7128
2836
7035
7148
9423
2828
5188
7205
7202
5214
7179
7119
3026
7198
7182
5091
9091
7149
7208
7094
3689
9776
2755
8605
9172
3255
5102
5606
5606PA
5187
3301
5160
7213
7141
5024
8478
5107
7152
8931
5247
7216
8303
6203
7062
0002
5172
7006
9385
7943
8079
7089
7126
7085
7087
5189
3662
7935
5886
5202
5150
3921
4707
7060
7139
7215
5066
7107
4006
7052
3719
5022
9407
6068
5231
4081
5080
7088
4065
7190
8966
7134
7237
7084
9946
5252
5157
7180
7165
7412
7246
8532
7103
7186
7082
7211
7071
4405
7200
7252
9369
7230
7176
4588
7757
7203
5156
7121
5155
5584
7184
5159
7178
5131
0012
7086
7061
7131
7191
9148
COUNTER
ACOSTEC
AHEALTH
AJI
AMTEK
APOLLO
ASIABRN
ASIAFLE
BAT
BIOOSMO
BIOSIS
BONIA
CAB
CAELY
CAMRES
CARLSBG
CCK
CCMDBIO
CHEEWAH
CIHLDG
CNOUHUA
COCOLND
CSCENIC
CSL
DBE
DEGEM
DLADY
DPS
EKA
EKOWOOD
EMICO
ENGKAH
EURO
EUROSP
F&N
FARMBES
FCW
FFHB
FPI
GAB
GCB
GOLDIS
GOLDIS-PA
HBGLOB
HLIND
HOMERIZ
HOVID
HUATLAI
HUPSENG
HWATAI
IQGROUP
JAYCORP
JERASIA
KAREX
KAWAN
KFM
KHEESAN
KHIND
KOTRA
KSTAR
LATITUD
LAYHONG
LCHEONG
LEESK
LIIHEN
LONBISC
LTKM
MAGNI
MAXWELL
MFLOUR
MILUX
MINTYE
MSM
MSPORTS
MWE
NESTLE
NHFATT
NICE
NIHSIN
NTPM
OFI
ORIENT
PADINI
PANAMY
PAOS
PARAGON
PCCS
PELIKAN
PMCORP
POHKONG
POHUAT
PPB
PPG
PRLEXUS
PW
PWROOT
QL
REX
SASBADI
SAUDEE
SERNKOU
SGB
SHH
SIGN
SINOTOP
SPRITZER
SWSCAP
SYF
TAFI
TAKASO
TCHONG
TEKSENG
TEOSENG
TGL
TOMEI
TPC
UMW
UPA
WANGZNG
XDL
XIANLNG
XINQUAN
YEELEE
YEN
YOCB
YSPSAH
ZHULIAN
3A
ABLEGRP
ABRIC
ACME
ADVENTA
ADVPKG
CLOSING
(RM)
0.600
3.950
6.100
0.285
4.890
1.410
3.640
60.980
0.055
0.020
0.735
1.070
0.510
0.320
12.000
0.770
2.760
0.665
1.770
0.055
2.440
1.250
0.125
0.050
0.880
47.080
0.080
0.145
0.215
0.240
1.990
0.195
0.730
18.480
0.500
1.060
0.430
0.685
13.840
0.920
2.210
0.990
0.070
5.720
1.020
0.455
3.180
1.260
0.360
2.290
0.900
0.675
3.330
2.460
0.145
0.700
2.100
1.080
0.090
7.040
5.420
0.145
0.300
7.140
0.770
1.870
5.620
0.105
1.320
0.925
1.200
4.760
0.100
1.230
72.500
2.300
0.090
0.265
0.725
1.480
6.980
1.410
21.000
0.670
0.210
0.385
0.865
0.200
0.450
3.500
15.380
0.475
2.570
1.290
2.250
4.050
1.500
2.750
0.465
0.615
0.640
1.770
2.440
0.045
1.840
0.770
0.490
0.400
0.500
2.520
0.465
1.680
1.250
0.540
0.500
7.570
1.550
0.600
0.125
0.500
0.430
1.770
0.190
0.970
2.630
1.460
0.970
0.140
0.550
0.320
0.915
2.010
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
-0.005
30
UNCH
11.6
UNCH
33.5
0.015
30.4
-0.010
4.6
-0.050
39
—
—
0.460
182.3
UNCH
424.3
—
—
-0.005
535.4
0.060
417.3
—
—
—
—
0.100
124.9
UNCH
9.9
UNCH
59.5
0.020
13
0.020
53.5
UNCH
210
-0.040
148
UNCH
35.7
0.015 28215.4
—
—
—
—
0.080
1.6
UNCH
450.1
—
—
-0.005
52.2
0.005
991.3
—
—
-0.010
354
0.025
23.1
0.060
135
—
—
-0.040
1.9
—
—
—
—
0.080
15.3
-0.005
10
UNCH
75.8
UNCH
7.5
UNCH
458.1
0.040
362.4
0.035 2150.1
0.010 4415.5
0.080
25.5
0.050
829
—
—
-0.010
24.8
-0.005
338.8
UNCH
44.9
0.050
179.7
0.030
23.4
0.015
67
UNCH
66.5
UNCH
3.1
—
—
0.005
200.2
0.050
134.5
0.020
202.8
0.005
157.2
0.005 1371.3
UNCH
327.1
UNCH
87.8
0.130
927.1
0.010
347.4
UNCH
155
0.010
157
—
—
-0.080
3
—
—
UNCH
761
—
—
-0.380
2.6
0.020
10
UNCH
100.4
0.010 1186.1
-0.010
1188
-0.020
19
UNCH
25
0.020
483.8
0.180
10.7
—
—
—
—
-0.070
20
-0.035
374.5
0.005
170.2
0.010
115.7
0.220
972.4
-0.020
423.6
—
—
-0.020
376.7
0.050
65.8
-0.010
8.3
0.060
538.6
UNCH
18
UNCH
2.2
UNCH
223
-0.020
5
0.010
31
0.160
802.2
0.020
541.6
UNCH
11.9
0.010
44.6
—
—
0.015 6175.7
—
—
0.015
329.7
0.090
10.9
—
—
0.070
2339
UNCH
1.6
0.005
25
UNCH
10
UNCH 1044.8
0.020
4
—
—
-0.005 15005.2
—
—
0.015
828.7
0.080
326.6
—
—
0.040
679.9
0.080
294
UNCH
43.3
0.560
0.000
4.604
0.000
5.640
4.033
—
62.855
0.176
—
3.399
0.575
—
—
12.303
0.000
2.599
0.000
0.000
0.080
2.192
1.110
0.199
—
—
48.592
0.095
—
0.245
1.000
—
0.340
0.000
18.260
—
0.857
—
—
16.231
1.388
1.980
0.000
0.166
5.229
0.567
0.340
0.000
6.066
—
0.544
0.585
0.000
3.250
1.280
0.335
0.503
2.877
—
0.113
1.553
0.000
0.000
0.000
1.650
0.696
2.636
2.282
0.292
1.465
—
1.388
—
0.174
—
68.567
2.915
0.135
0.156
0.704
2.311
8.629
1.769
22.684
—
—
0.470
0.606
0.258
0.464
0.837
14.816
—
1.000
0.711
1.828
4.165
0.000
0.000
0.229
0.200
0.000
0.000
1.371
0.066
1.802
—
0.000
—
0.268
6.522
—
0.600
1.593
0.657
0.369
12.391
1.330
—
0.329
—
0.830
1.310
—
0.871
1.336
4.939
315.79
14.48
11.66
—
12.72
—
12.57
19.63
—
—
12.78
10.54
13.42
9.14
18.52
13.46
14.30
9.67
23.41
—
14.13
15.36
1.97
—
7.10
23.49
22.86
—
—
5.36
29.66
50.00
—
23.66
—
107.07
14.29
36.05
19.52
—
10.67
—
—
10.18
13.84
16.43
4.89
21.61
—
9.90
15.38
5.57
34.83
19.07
—
12.30
9.60
135.00
—
8.58
13.92
—
10.75
11.59
9.58
9.40
10.57
3.76
14.46
—
18.58
11.66
4.05
19.37
30.35
12.76
—
63.10
16.59
14.58
13.34
11.58
11.84
46.53
—
—
—
52.63
13.51
10.87
17.84
12.50
12.86
9.12
14.21
26.45
555.56
24.19
—
34.17
—
13.44
8.09
75.00
11.10
—
11.11
57.14
—
32.18
15.92
10.08
11.16
—
8.24
17.41
7.66
6.94
9.40
42.74
0.95
13.85
—
8.32
15.32
14.82
—
2.78
3.28
—
5.11
0.35
4.12
5.12
—
—
1.70
—
1.96
—
5.92
2.60
5.34
—
—
—
2.05
6.40
—
—
1.70
2.12
—
—
—
—
3.27
—
—
2.98
—
4.72
—
4.38
4.66
—
0.90
—
—
5.07
4.15
2.20
—
2.78
—
3.49
3.89
—
0.50
0.81
—
—
3.33
—
—
—
—
—
—
2.87
—
3.12
1.42
—
4.17
—
2.50
5.04
—
1.08
3.31
4.35
—
1.89
1.01
2.36
1.72
7.09
2.38
3.73
—
—
—
—
2.22
3.14
1.56
4.21
1.07
6.20
3.11
1.05
—
1.09
—
—
—
1.13
1.64
—
2.17
1.30
—
—
—
1.98
2.15
1.98
6.00
1.85
—
5.42
5.16
4.17
—
—
4.65
1.69
—
4.12
2.47
4.79
106.7
462.7
370.9
14.2
391.2
111.6
694.8
17,411.6
27.4
2.1
592.6
161.2
40.8
62.1
3,696.9
121.4
769.9
28.0
286.7
36.7
418.7
150.6
155.3
33.7
117.9
3,013.1
47.0
45.2
36.1
23.0
140.8
47.4
32.4
6,775.6
30.5
265.0
35.6
169.4
4,181.0
440.2
1,349.2
451.2
32.8
1,875.6
306.0
358.4
275.4
1,008.0
26.9
201.6
123.5
55.4
2,225.3
501.0
9.9
62.5
84.1
142.9
24.0
684.3
278.8
9.6
50.3
428.4
143.6
243.3
609.7
42.0
710.5
50.3
73.0
3,346.2
51.8
284.8
17,001.3
172.9
25.1
62.7
814.3
355.2
4,330.3
927.7
1,275.7
80.9
14.7
23.1
478.6
154.7
184.7
396.9
18,233.0
47.5
299.4
97.5
683.5
5,054.5
92.5
349.3
41.9
73.8
66.9
88.5
292.8
88.9
261.9
97.4
299.5
32.0
102.9
1,693.4
116.8
504.0
50.9
74.8
40.0
8,844.0
123.4
96.0
168.5
36.4
145.4
323.8
23.8
155.2
353.8
671.6
0.893
0.142
0.280
0.430
1.061
0.000
19.17
82.35
—
10.00
38.45
14.50
1.44
—
—
—
—
4.98
381.8
36.9
77.3
69.9
139.8
41.2
0.015
0.005
UNCH
UNCH
UNCH
0.010
119.1
3495.1
69
20
41
17.5
# PE is calculated based on latest 12 months reported Earnings Per Share
YEAR
LOW
DAY
HIGH
DAY
LOW
0.217 0.115 0.120
0.120
0.560 0.325
—
—
0.400 0.265
—
—
3.390 1.928 3.390
3.180
1.120 0.200 0.400
0.320
0.783 0.572 0.690
0.685
0.567 0.335 0.365
0.365
1.257 0.710
—
—
0.250 0.165 0.185
0.175
1.272 0.942 1.130
1.130
5.599 3.924
—
—
0.658 0.400
—
—
0.880 0.560 0.620
0.610
0.215 0.100 0.120
0.115
0.945 0.480
—
—
2.600 1.600 2.230
2.180
0.815 0.285 0.350
0.350
0.150 0.090
—
—
1.719 0.980 1.100
1.090
2.520 2.000 2.520
2.460
1.360 0.673 1.360
1.270
0.670 0.320 0.380
0.370
0.290 0.175
—
—
0.455 0.115 0.305
0.295
2.893 1.902 2.560
2.430
0.286 0.109 0.135
0.120
2.419 1.630 2.060
2.010
1.109 0.823 0.935
0.900
1.544 1.004 1.300
1.300
1.860 1.380
—
—
1.600 1.140 1.410
1.410
1.740 1.300 1.420
1.400
1.707 1.400 1.520
1.500
1.230 0.856
—
—
0.105 0.055 0.070
0.065
5.977 3.243 5.210
5.080
1.290 0.200
—
—
4.679 1.593 1.950
1.910
0.405 0.150 0.320
0.300
0.945 0.600 0.825
0.810
1.116 0.880 0.945
0.940
0.790 0.491 0.710
0.710
0.440 0.275 0.310
0.310
4.551 3.962
—
—
0.475 0.180 0.310
0.295
0.575 0.265 0.440
0.435
0.385 0.250
—
—
0.395 0.312
—
—
0.920 0.660 0.815
0.805
1.562 0.929 1.140
1.120
2.162 1.164 1.450
1.410
0.450 0.220 0.315
0.300
0.880 0.455 0.615
0.590
1.610 1.000 1.180
1.180
0.335 0.190
—
—
0.903 0.600 0.730
0.730
2.070 0.475 2.020
1.930
1.083 0.427 0.730
0.695
1.334 0.945 1.020
1.000
3.169 2.189 2.450
2.430
0.562 0.355
—
—
2.837 2.020 2.290
2.270
1.970 0.976 1.970
1.930
1.645 1.243 1.410
1.410
1.070 0.455 0.960
0.935
0.090 0.040 0.050
0.045
0.580 0.205
—
—
0.135 0.064 0.095
0.090
0.670 0.285
—
—
0.460 0.180 0.235
0.220
0.135 0.070
—
—
1.254 0.883 0.970
0.955
0.905 0.320 0.510
0.500
5.150 3.226 4.820
4.750
3.500 2.650
—
—
1.280 0.356 1.280
1.210
0.955 0.625 0.890
0.870
0.748 0.230 0.250
0.250
1.510 0.620 0.680
0.660
1.360 0.755
—
—
1.040 0.530 0.770
0.730
0.440 0.310
—
—
0.155 0.050 0.055
0.055
4.524 2.986 3.450
3.420
0.190 0.065 0.075
0.070
0.970 0.760
—
—
1.950 1.170 1.600
1.600
0.510 0.250 0.300
0.265
0.131 0.045 0.055
0.055
0.265 0.135 0.150
0.150
0.460 0.150 0.220
0.210
1.280 0.920
—
—
1.830 1.210 1.830
1.760
2.108 1.060 1.310
1.260
0.340 0.145 0.175
0.170
0.504 0.360 0.450
0.430
0.710 0.430
—
—
3.220 2.730 3.120
3.070
2.260 1.031 1.940
1.920
0.255 0.110 0.130
0.125
2.241 1.174 1.570
1.510
0.917 0.379 0.485
0.475
1.260 0.902 1.160
1.110
0.660 0.335 0.380
0.360
7.920 4.142 7.920
7.800
0.600 0.250
—
—
6.209 4.320 5.070
4.890
0.745 0.330
—
—
0.780 0.420
—
—
10.612 8.306 9.180
9.050
0.715 0.384 0.505
0.480
0.699 0.213 0.685
0.665
0.605 0.420 0.435
0.430
0.215 0.110 0.130
0.125
0.080 0.030 0.060
0.040
0.139 0.070 0.075
0.075
0.655 0.220 0.330
0.310
0.325 0.170
—
—
0.120 0.065 0.085
0.085
4.250 2.648 3.500
3.420
1.016 0.330 0.400
0.380
0.884 0.510
—
—
0.480 0.320
—
—
0.900 0.660 0.745
0.740
0.440 0.190 0.220
0.220
0.960 0.515
—
—
1.470 1.091
—
—
0.950 0.105
—
—
2.100 1.640
—
—
1.220 0.355 0.975
0.945
0.175 0.060 0.070
0.065
1.920 0.700 1.280
1.180
0.700 0.300
—
—
3.250 2.090
—
—
2.188 1.040 1.180
1.150
1.606 0.855 0.950
0.900
0.410 0.210
—
—
1.160 0.120
—
—
0.160 0.100
—
—
0.705 0.470 0.515
0.515
1.080 0.515 0.850
0.840
1.404 0.848 0.950
0.940
0.135 0.050 0.060
0.055
6.547 4.519 6.190
6.040
0.625 0.375 0.600
0.585
4.674 3.448 4.600
4.550
0.330 0.045 0.145
0.140
23.670 20.194 22.760 22.380
3.230 2.300 3.150
3.000
7.030 5.007 6.580
6.400
1.372 0.781
—
—
3.428 1.400 2.160
2.090
1.090 0.900 0.990
0.990
0.510 0.335
—
—
0.905 0.535 0.815
0.795
0.380 0.290
—
—
0.576 0.384
—
—
0.837 0.450 0.695
0.685
0.230 0.110 0.135
0.125
1.800 1.130
—
—
0.900 0.630 0.880
0.880
6.330 4.960 6.270
6.000
0.370 0.240
—
—
0.850 0.548 0.735
0.715
4.682 3.154 3.620
3.600
CODE
7146
5198
2682
7609
9954
2674
4758
6556
9342
5568
5015
7214
7162
7070
7181
8133
7005
7187
0168
6297
5100
9938
7221
7188
5105
5229
7076
2879
7171
8435
8044
5007
5797
8052
7018
2852
7986
5071
7195
2127
5094
7157
5082
8125
8176
7114
5835
5835PA
5265
7169
1619
7233
8907
9016
7217
7773
5101
7249
2984
7229
0149
3107
5197
3611
7197
5220
7192
7096
5649
0136
7077
3247
5151
5168
7105
5095
3298
5072
5199
7033
8443
5165
2739
5000
9601
9687
7222
7183
7223
8648
2747
7043
7167
4383
0054
7199
6211
3522
5371
5060
9466
7164
6971
7017
7153
7130
3476
5192
8362
3794
9326
5092
5232
8745
3581
2887
4235
9881
5068
9199
5098
7029
8095
5152
3778
5223
8192
7059
6149
5001
7219
5576
7595
5916
3883
7004
5087
7002
5025
4944
7140
5065
7225
5183
9997
5436
5146
6033
3042
7095
7172
8869
6637
8117
8273
9458
9873
7168
7123
7544
7498
7765
7232
7803
5134
COUNTER
AEM
AFUJIYA
AISB
AJIYA
AKNIGHT
ALCOM
ANCOM
ANNJOO
ANZO
APB
APM
ARANK
ASTINO
ASUPREM
ATURMJU
BHIC
BIG
BKOON
BOILERM
BOXPAK
BPPLAS
BRIGHT
BSLCORP
BTM
CANONE
CAP
CBIP
CCM
CENBOND
CEPCO
CFM
CHINWEL
CHOOBEE
CICB
CME
CMSB
CNASIA
COASTAL
COMCORP
COMFORT
CSCSTEL
CYL
CYMAO
DAIBOCI
DENKO
DNONCE
DOLMITE
DOLMITE-PA
DOLPHIN
DOMINAN
DRBHCOM
DUFU
EG
EKSONS
EMETALL
EPMB
EVERGRN
EWEIN
FACBIND
FAVCO
FIBON
FIMACOR
FLBHD
GBH
GESHEN
GLOTEC
GOODWAY
GPA
GPHAROS
GREENYB
GSB
GUH
HALEX
HARTA
HCK
HEVEA
HEXZA
HIAPTEK
HIBISCS
HIGHTEC
HIL
HOKHENG
HUAAN
HUMEIND
HWGB
IDEALUBB
IMASPRO
IRETEX
JADI
JASKITA
JAVA
JMR
JOHOTIN
JTIASA
KARYON
KEINHIN
KIALIM
KIANJOO
KIMHIN
KINSTEL
KKB
KNM
KOBAY
KOMARK
KOSSAN
KPOWER
KSENG
KSSC
KYM
LAFMSIA
LBALUM
LCTH
LEONFB
LEWEKO
LIONCOR
LIONDIV
LIONIND
LSTEEL
LUSTER
LYSAGHT
MASTEEL
MASTER
MAYPAK
MBL
MELEWAR
MENTIGA
MERCURY
METALR
METROD
MIECO
MINETEC
MINHO
MLGLOBAL
MSC
MUDA
MULTICO
MYCRON
NAKA
NWP
NYLEX
OKA
ORNA
PA
PCHEM
PENSONI
PERSTIM
PERWAJA
PETGAS
PETRONM
PIE
PMBTECH
PMETAL
PNEPCB
POLY
PPHB
PREMIER
PRESTAR
PRG
PWORTH
QUALITY
RALCO
RAPID
RESINTC
RUBEREX
SAB
CLOSING
(RM)
0.120
0.370
0.290
3.300
0.320
0.685
0.365
0.750
0.185
1.130
4.050
0.500
0.620
0.120
0.600
2.230
0.350
0.095
1.100
2.520
1.340
0.375
0.195
0.300
2.540
0.130
2.040
0.915
1.300
1.440
1.410
1.420
1.510
0.900
0.065
5.180
0.315
1.930
0.315
0.815
0.940
0.710
0.310
4.450
0.310
0.435
0.300
0.395
0.815
1.140
1.410
0.315
0.595
1.180
0.210
0.730
2.020
0.710
1.020
2.440
0.385
2.290
1.970
1.410
0.950
0.045
0.280
0.090
0.360
0.235
0.090
0.970
0.510
4.750
3.060
1.270
0.880
0.250
0.665
1.040
0.770
0.400
0.055
3.420
0.070
0.795
1.600
0.290
0.055
0.150
0.220
1.010
1.780
1.280
0.175
0.430
0.480
3.090
1.940
0.125
1.550
0.480
1.150
0.380
7.870
0.470
5.070
0.435
0.480
9.180
0.495
0.680
0.435
0.125
0.055
0.075
0.325
0.170
0.085
3.500
0.395
0.650
0.400
0.745
0.220
0.580
1.100
0.200
1.890
0.960
0.065
1.280
0.360
2.290
1.180
0.950
0.280
0.125
0.120
0.515
0.840
0.950
0.060
6.110
0.590
4.550
0.145
22.400
3.100
6.580
0.970
2.160
0.990
0.375
0.815
0.345
0.420
0.690
0.130
1.500
0.880
6.100
0.265
0.725
3.620
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
UNCH
171
—
—
—
—
0.200 1822.3
-0.090
23
0.010
9
-0.005
5
—
—
UNCH
110.5
UNCH
10
—
—
—
—
0.005
368
0.005
205
—
—
0.060
41.4
UNCH
6
—
—
UNCH
113
0.090
122.2
0.070 1783.7
0.005
95
—
—
0.005 1001.5
0.130
515.2
0.010 15625.2
0.010
102.2
-0.015
10.3
UNCH
85.9
—
—
UNCH
5
0.030
425.8
0.020
15
—
—
-0.005
186.2
0.070 1412.8
—
—
0.010
323.7
0.010 2019.3
0.010 1770.4
UNCH
47
UNCH
10
UNCH
40
—
—
0.015 1996.8
-0.005
29
—
—
—
—
0.005
1019
UNCH
182.7
0.020
2390
UNCH
82.1
-0.005
583.2
0.030
10
—
—
0.030
1
0.080 3256.1
0.020
281.1
0.055
22.1
UNCH
18.5
—
—
0.010
7
0.050 1322.3
-0.010
3.5
0.035 1170.2
UNCH 12122.9
—
—
-0.010
339.1
—
—
0.015 2587.2
—
—
0.030
77.3
0.010
142.5
0.050 1317.2
—
—
0.070 5530.5
0.010
297.5
UNCH
208
0.005 5059.1
—
—
0.035
19.2
—
—
UNCH
50.4
0.070
3.8
UNCH
360
—
—
-0.020
20
0.030 5347.6
UNCH
13.3
0.005
250
0.025
18
—
—
0.070 1953.1
0.020 1477.9
-0.005
97.6
-0.020
158
—
—
UNCH
130.6
0.020
54.6
UNCH
470
0.040
375.5
0.010 23681.4
0.070
41.3
UNCH
77
0.060 6196.8
—
—
0.070
30.4
—
—
—
—
0.130 1059.2
UNCH
29.8
0.025 8076.7
0.005
262.3
UNCH
175
0.020 5585.5
0.005
53.3
UNCH
111.2
—
—
UNCH
600
0.100
21
0.015
290.6
—
—
—
—
-0.005
77.5
-0.030
20
—
—
—
—
—
—
—
—
0.015 2461.2
UNCH 4173.6
0.100 4312.5
—
—
—
—
-0.020
14.5
0.045
5.1
—
—
—
—
—
—
-0.005
16
UNCH
47.6
0.025
55
UNCH
500.2
0.050 3575.6
0.010
1216
-0.030
13.6
0.005
105
0.360 1571.1
0.100
160.9
0.080
16.3
—
—
0.070 1582.8
-0.060
5
—
—
0.020
111.4
—
—
—
—
0.010
370.9
0.005 2473.3
—
—
0.060
10
-0.230
193.9
—
—
0.005
87.6
0.020
19
0.210
—
—
2.206
1.195
1.000
0.373
—
0.219
0.000
—
—
1.193
0.185
—
2.741
0.360
—
2.483
2.405
0.647
1.342
—
0.210
3.629
0.370
3.176
1.051
1.631
—
0.900
1.354
1.600
—
0.060
5.900
—
3.192
0.000
0.414
1.299
0.000
0.371
—
0.300
0.000
—
—
0.000
0.951
2.568
0.195
0.336
1.267
—
0.000
0.474
1.002
1.273
3.009
—
6.469
1.001
1.260
0.240
0.055
—
0.085
—
0.239
—
1.002
0.000
7.383
—
0.911
0.672
0.719
2.033
—
0.000
—
0.142
1.233
0.211
—
0.000
1.655
0.000
0.150
0.000
—
1.762
2.390
0.359
0.360
—
3.204
1.250
0.155
2.679
0.430
0.000
0.605
3.703
—
7.467
—
—
9.834
0.530
0.221
0.474
0.175
0.095
0.205
0.761
—
0.091
0.000
1.078
—
—
1.019
0.231
—
—
—
—
0.335
0.165
0.000
—
—
0.911
1.685
—
—
—
0.530
0.912
0.747
0.145
6.740
0.558
3.869
0.127
23.904
3.040
6.873
—
2.358
0.409
—
1.000
—
—
0.000
0.236
—
0.000
3.770
—
0.766
2.844
41.38
30.08
—
12.82
—
—
37.24
750.00
—
10.05
9.48
6.43
8.56
—
—
23.57
—
—
16.92
12.35
21.51
—
—
—
4.99
2.50
12.51
—
10.34
23.96
—
8.90
11.72
—
13.83
25.26
—
5.35
10.54
28.70
93.07
12.26
—
20.79
11.52
3.14
10.20
—
3.36
8.20
15.79
5.72
1.73
4.28
—
8.63
15.15
42.77
17.29
6.00
10.29
7.82
10.29
3.48
8.13
—
—
—
—
17.80
—
13.84
23.50
35.16
16.79
11.01
12.57
—
—
6.30
9.92
34.19
—
28.84
—
—
12.79
—
—
15.00
—
157.81
8.82
35.96
10.00
9.77
3.77
10.01
10.36
1.41
9.30
13.41
7.24
—
30.12
—
10.96
12.61
35.82
32.12
12.63
14.53
5.28
—
—
—
—
—
—
8.57
—
7.95
—
14.14
—
10.55
8.84
—
13.47
7.20
—
9.19
1.67
—
22.56
25.20
11.24
—
—
13.45
8.31
8.15
—
20.88
4.31
9.78
—
19.63
11.31
12.38
11.24
12.50
761.54
12.54
6.81
132.69
7.61
19.60
23.21
—
13.37
—
6.43
16.04
16.33
—
—
—
0.61
—
7.30
—
4.00
—
5.75
4.81
4.50
4.69
—
—
—
—
—
1.59
—
4.48
—
—
—
1.97
—
2.94
2.73
4.62
—
—
4.11
3.97
1.94
—
1.64
—
3.01
—
—
3.19
7.04
—
3.03
—
—
—
—
—
3.62
4.26
—
—
—
—
5.48
—
0.70
2.75
4.92
2.86
4.37
4.57
10.64
—
—
—
—
—
4.68
—
5.15
—
1.37
—
0.89
4.55
1.20
—
3.37
1.95
—
—
0.88
—
—
2.19
—
—
2.00
—
2.97
1.97
1.17
2.29
2.33
—
—
3.09
—
2.58
—
2.61
—
1.02
—
1.97
4.60
—
3.49
4.04
0.74
6.90
—
—
—
—
—
—
—
1.65
1.54
—
4.03
—
—
5.45
—
3.17
—
—
—
—
—
2.54
8.42
—
—
—
5.83
3.57
2.63
—
2.62
4.24
7.69
—
1.92
—
1.82
4.12
4.86
—
—
—
—
4.76
1.45
—
—
—
—
—
2.07
1.38
MKT CAP
(MIL)
21.9
66.6
38.2
228.4
18.6
92.0
79.9
392.0
52.0
127.5
816.5
60.0
170.0
35.0
36.7
554.1
16.8
26.3
567.6
151.3
251.5
61.6
19.1
37.4
488.1
151.0
1,098.0
418.7
156.0
64.5
57.8
425.3
166.0
41.2
28.7
5,565.3
14.3
1,026.0
44.1
366.3
357.2
71.0
23.3
506.6
32.4
19.6
79.1
4.9
180.9
188.1
2,725.9
55.3
45.9
193.8
35.9
121.2
1,036.3
149.8
86.9
534.1
37.7
561.6
203.3
263.1
76.0
242.2
30.9
88.2
48.4
78.4
39.6
269.6
54.1
7,794.1
169.6
535.6
176.3
179.6
652.2
42.2
214.6
32.0
61.7
1,638.5
42.1
55.8
128.0
38.3
51.8
67.4
38.1
128.1
166.1
1,246.4
83.2
42.6
29.7
1,372.5
301.9
131.2
399.6
941.9
78.3
47.4
5,032.6
26.5
1,832.7
41.8
71.9
7,800.2
123.0
244.8
134.9
40.2
72.4
104.4
233.3
21.8
147.2
145.5
96.6
35.5
16.8
68.5
49.9
40.6
44.2
9.6
226.8
201.6
43.2
140.6
32.3
229.0
360.0
42.2
79.4
6.9
38.4
100.1
130.8
71.5
56.8
48,880.0
76.5
451.8
81.2
44,323.6
837.0
505.4
77.6
2,805.5
65.1
60.0
89.6
116.3
76.4
100.1
62.7
86.9
36.9
533.4
36.4
166.2
495.7
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE FI N AN C I AL DAI LY
34 Markets
T UE
BURSA MAL AYSIA MAIN MARKET
YEAR
HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
6.100 2.170 6.010
5.940
1.425 0.800 0.840
0.830
1.553 1.130 1.360
1.350
2.610 0.977 2.580
2.550
1.170 0.700 0.740
0.720
7.620 6.348 7.420
7.380
1.050 0.280 0.320
0.315
0.455 0.230 0.245
0.245
1.128 0.526 0.635
0.625
0.495 0.250 0.315
0.305
0.730 0.370
—
—
6.000 4.400 6.000
5.770
0.648 0.365 0.445
0.435
0.850 0.440
—
—
1.556 0.551 1.360
1.320
1.750 0.478 1.750
1.680
0.845 0.581 0.780
0.775
1.005 0.540 0.565
0.540
1.508 0.730
—
—
0.569 0.200 0.255
0.255
2.212 1.500 1.650
1.650
1.930 1.300 1.370
1.340
1.790 0.521 1.760
1.710
2.670 1.539 2.080
2.030
3.884 3.115 3.760
3.750
0.445 0.240 0.280
0.260
1.130 0.370 0.480
0.480
15.886 14.020 14.900 14.860
15.723 13.194
—
—
0.255 0.080 0.120
0.115
0.540 0.215
—
—
1.190 0.700 0.910
0.910
1.520 0.685 1.340
1.270
0.420 0.220
—
—
2.390 1.650 1.950
1.900
2.150 1.562
—
—
0.895 0.640
—
—
2.400 1.146 2.400
2.350
2.300 1.660 1.750
1.750
8.550 4.078 8.010
7.890
0.773 0.530
—
—
0.250 0.140 0.145
0.145
1.696 1.208 1.630
1.600
4.438 1.370 4.420
4.160
0.971 0.641
—
—
0.945 0.530 0.780
0.675
1.510 0.396 1.430
1.390
1.700 1.127 1.220
1.200
0.445 0.260
—
—
1.780 1.200 1.560
1.530
2.290 1.318 2.290
2.260
0.700 0.470 0.545
0.520
0.650 0.420 0.580
0.580
2.460 1.880
—
—
1.304 0.895 1.060
1.030
2.640 1.110 1.260
1.240
1.235 0.800 0.880
0.850
0.360 0.170 0.220
0.210
0.880 0.535 0.720
0.720
CONSTRUCTION
0.530 0.260
—
—
0.732 0.505 0.640
0.640
1.444 0.540 0.680
0.675
0.925 0.510 0.585
0.575
0.650 0.330 0.450
0.435
1.250 0.860 0.995
0.960
1.476 0.950 1.020
1.020
1.879 1.475
—
—
1.168 0.702 0.950
0.930
1.189 0.850 0.935
0.915
0.497 0.340 0.430
0.430
1.807 0.943
—
—
1.717 1.130 1.420
1.360
5.293 3.770 4.520
4.420
1.824 0.800 0.845
0.840
1.540 0.780 0.955
0.905
1.478 1.114
—
—
1.490 1.180
—
—
1.947 1.593
—
—
3.685 2.870 3.230
3.190
0.835 0.540 0.675
0.660
0.905 0.530 0.640
0.590
1.180 0.375 1.160
1.120
0.520 0.300 0.380
0.370
1.220 0.740 0.880
0.870
1.428 1.050 1.300
1.250
1.500 1.060
—
—
1.440 0.860 0.910
0.900
0.510 0.305 0.365
0.355
1.336 0.508 1.070
1.030
0.400 0.190 0.240
0.240
2.160 0.840 1.030
0.990
3.043 1.478 2.160
2.010
1.009 0.450 0.500
0.485
1.695 1.220
—
—
2.043 1.219 1.650
1.600
0.235 0.115 0.145
0.145
4.618 3.000 3.550
3.460
1.050 0.477 0.800
0.760
1.320 0.980 1.220
1.190
0.530 0.300 0.390
0.375
0.515 0.265 0.365
0.350
1.520 0.845 1.450
1.350
1.005 0.490 0.550
0.550
2.031 1.083 1.490
1.450
1.060 0.555
—
—
0.395 0.225 0.255
0.250
TRADING SERVICES
0.666 0.150 0.205
0.200
0.781 0.315 0.465
0.465
3.733 2.600 2.730
2.690
0.250 0.120 0.185
0.175
2.900 0.765 1.270
1.220
7.248 4.220 5.350
5.150
1.280 0.365 0.490
0.475
0.085 0.020 0.025
0.020
11.312 9.590 9.920
9.900
1.869 1.540 1.750
1.750
0.240 0.090 0.210
0.205
1.889 0.765 0.955
0.935
0.215 0.105 0.125
0.120
3.341 2.702 2.910
2.850
4.896 4.450
—
—
0.495 0.270 0.380
0.375
7.036 5.514 6.020
5.780
0.317 0.210 0.260
0.260
1.400 0.705 0.950
0.945
0.743 0.375 0.395
0.385
0.450 0.193 0.260
0.255
7.097 6.364 6.500
6.500
2.927 1.890 1.960
1.910
0.547 0.345 0.380
0.370
3.218 1.960 2.200
2.150
0.854 0.630 0.680
0.680
0.580 0.330 0.440
0.415
3.537 2.950 3.150
3.090
0.990 0.475 0.575
0.565
1.610 0.555 0.615
0.605
4.906 3.722 3.940
3.890
1.207 0.740 0.810
0.755
1.960 1.000 1.960
1.910
3.640 1.850 2.960
2.770
1.112 0.505 0.825
0.810
0.575 0.340
—
—
0.682 0.420 0.450
0.450
0.115 0.060
—
—
1.040 0.650 0.790
0.750
0.070 0.040 0.045
0.040
2.621 1.390 1.710
1.700
0.285 0.085 0.100
0.095
3.353 1.450 1.670
1.630
2.135 0.953 1.180
1.150
0.685 0.460 0.600
0.585
1.815 1.183 1.650
1.600
6.653 3.530 4.010
4.000
1.724 0.986 1.590
1.540
0.450 0.275 0.350
0.285
1.500 0.441 1.190
1.090
0.450 0.245
—
—
0.325 0.195 0.215
0.215
3.817 1.949 3.500
3.400
0.425 0.190 0.240
0.235
1.182 0.861 0.920
0.900
1.422 1.062 1.130
1.100
0.860 0.450 0.750
0.750
* Volume Weighted Average Price
CODE
COUNTER
CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
YEAR
HIGH
1.334
2.303
0.946
1.735
0.340
0.450
3.375
1.840
4.620
9.774
1.570
0.553
2.537
0.070
0.455
5.620
2.980
3.879
0.050
1.510
6.450
0.910
1.630
0.430
2.775
0.670
0.450
2.084
0.476
1.944
4.389
1.741
0.555
0.450
0.570
0.285
0.905
1.570
2.909
1.879
0.200
7.144
1.664
3.457
2.084
0.882
1.030
2.610
2.990
9.296
2.754
0.621
0.125
0.330
0.465
3.070
1.160
4.520
0.140
1.007
1.003
1.776
0.200
2.990
0.501
1.022
2.564
1.443
0.295
2.839
1.818
1.300
0.295
5.950
22.800
0.250
7.372
0.270
0.430
5.116
2.713
3.345
0.200
0.405
0.921
0.720
0.660
0.225
2.311
0.410
0.860
1.240
1.470
1.810
9.599
0.933
4.071
1.860
2.527
3.500
0.420
2.603
0.215
0.555
4.060
4.438
16.839
1.729
0.575
0.825
7.526
0.750
1.340
0.560
3.056
1.321
2.943
3.833
1.698
0.750
3.753
0.505
3.155
0.550
4.610
1.460
0.130
3.236
1.052
1.677
FINANCE
15.741
3.238
4.833
13.200
13.400
6.573
1.970
4.290
8.811
7.050
1.560
1.409
14.820
13.880
18.015
2.150
1.236
0.900
0.235
2.650
0.764
15.088
0.773
3.350
9.749
2.540
4.480
2.640
1.485
19.645
0.290
8.982
0.923
4.230
9822
7811
5170
7247
9237
4731
7239
7366
7073
5145
5163
4324
5181
7115
7155
7248
7132
7099
5665
7143
6904
7207
7235
7106
5012
4022
5149
4448
4448P
5178
7097
7439
9741
6378
7034
7374
7854
7285
5010
7113
7173
4359
7100
7133
7227
4995
6963
5142
7226
7111
7231
7050
7025
5009
4243
7245
5048
7020
7014
SAM
SAPIND
SCABLE
SCGM
SCIB
SCIENTX
SCNWOLF
SCOMIEN
SEACERA
SEALINK
SEB
SHELL
SIGGAS
SKBSHUT
SKPRES
SLP
SMISCOR
SMPC
SSTEEL
STONE
SUBUR
SUCCESS
SUPERLN
SUPERMX
TAANN
TADMAX
TAS
TASEK
TASEK-PA
TATGIAP
TAWIN
TECGUAN
TECNIC
TEKALA
TGUAN
TIENWAH
TIMWELL
TOMYPAK
TONGHER
TOPGLOV
TOYOINK
TURIYA
UCHITEC
ULICORP
UMSNGB
VERSATL
VS
WASEONG
WATTA
WEIDA
WELLCAL
WONG
WOODLAN
WTHORSE
WTK
WZSATU
YILAI
YKGI
YLI
5.970
0.830
1.350
2.550
0.730
7.400
0.315
0.245
0.630
0.310
0.385
5.790
0.445
0.650
1.320
1.700
0.780
0.565
0.880
0.255
1.650
1.360
1.740
2.040
3.750
0.260
0.480
14.860
15.100
0.120
0.220
0.910
1.300
0.240
1.910
1.720
0.650
2.380
1.750
7.950
0.585
0.145
1.630
4.350
0.760
0.730
1.420
1.210
0.280
1.550
2.270
0.540
0.580
2.160
1.060
1.240
0.880
0.220
0.720
-0.070
-0.010
0.010
0.010
UNCH
UNCH
-0.005
-0.005
0.010
0.005
—
0.020
-0.025
—
-0.020
0.030
0.025
-0.020
—
0.005
0.050
UNCH
0.010
-0.020
UNCH
-0.010
0.015
UNCH
—
0.010
—
UNCH
-0.040
—
0.040
—
—
-0.010
UNCH
UNCH
—
0.005
0.020
0.250
—
0.020
0.040
0.010
—
0.020
0.010
-0.005
0.070
—
0.020
UNCH
0.035
0.010
0.005
150
50
75.2
55.7
36.5
224.8
44.5
10
87
2790.4
—
47.1
78
—
5036.9
441
0.3
8.6
—
495
5
45.3
388.3
1513.7
412.9
1.6
17.5
6.3
—
26
—
1
689.1
—
78.5
—
—
1405.1
15.4
1539.9
—
1.8
195.2
586
—
8.2
9204.8
189.7
—
120.2
419.9
55.2
0.1
—
544.1
94
12.7
274.3
10
2.586 10.84
1.447 13.47
1.541
8.56
0.870 18.21
0.491
—
5.621 10.52
0.299
—
0.430 38.28
0.893 23.08
0.403 24.22
—
—
6.998
—
0.580
9.74
—
—
0.320 24.91
0.420 23.38
0.636 20.47
1.089
1.99
—
—
0.635
—
1.980 121.32
1.224
7.00
0.472 11.40
2.636 15.07
4.033 11.05
0.350
1.78
1.134
6.73
0.000 17.40
—
—
0.250
—
—
—
0.000 24.86
2.939
0.50
—
—
1.801 16.48
— 13.79
—
—
1.426 15.24
1.795 10.92
5.730 22.00
— 43.33
0.213 16.11
1.400 14.48
1.014 25.82
—
5.52
1.000
—
1.368
3.18
1.682
9.16
—
—
1.686
8.56
3.453 20.81
0.505
—
0.484 21.64
—
7.84
1.259 19.24
0.904 17.64
0.000 11.44
1.000
—
0.797
—
2.00
7.23
1.67
3.66
—
2.97
—
—
4.76
—
5.19
—
1.57
—
1.48
1.47
3.21
—
—
—
3.03
5.88
1.72
2.45
5.33
—
—
4.71
3.05
—
—
—
—
—
3.66
4.65
—
2.52
6.86
2.14
1.71
—
6.13
3.22
3.29
—
2.54
3.72
—
1.94
4.05
—
—
4.63
1.73
—
2.27
—
—
515.0
60.4
428.0
306.0
53.7
1,702.0
27.6
83.8
114.5
155.0
30.8
1,737.0
83.4
26.0
1,429.8
420.5
34.9
39.7
369.1
22.9
344.9
163.2
139.2
1,387.5
1,390.3
115.8
86.4
1,837.0
5.1
18.6
14.1
36.5
52.5
36.7
201.0
166.0
57.9
260.5
223.0
4,968.7
62.6
33.2
638.9
631.6
60.8
85.7
1,648.7
937.6
23.7
206.7
752.9
49.5
23.2
518.4
510.2
313.6
140.8
76.6
73.1
7007
7078
6173
5190
5932
8761
8591
7528
5253
8877
7047
7161
9261
5398
5226
5169
5169PA
5169PB
6238
3336
5268
8834
4723
9083
3565
5171
9628
5129
5006
9571
5924
5085
5703
8311
7055
5070
7145
9598
5205
5263
9717
5054
5622
5042
9679
7028
2283
ARK
AZRB
BDB
BENALEC
BPURI
BREM
CRESBLD
DKLS
ECONBHD
EKOVEST
FAJAR
FUTUTEC
GADANG
GAMUDA
GBGAQRS
HOHUP
HOHUP-PA
HOHUP-PB
HSL
IJM
IKHMAS
IREKA
JAKS
JETSON
KEURO
KIMLUN
LEBTECH
MELATI
MERGE
MITRA
MTDACPI
MUDAJYA
MUHIBAH
PESONA
PLB
PRTASCO
PSIPTEK
PTARAS
SENDAI
SUNCON
SYCAL
TRC
TRIPLC
TSRCAP
WCT
ZECON
ZELAN
0.290
0.640
0.675
0.580
0.450
0.990
1.020
1.710
0.940
0.935
0.430
1.540
1.400
4.510
0.845
0.940
1.360
1.290
1.770
3.200
0.670
0.640
1.140
0.370
0.880
1.300
1.440
0.905
0.360
1.050
0.240
0.995
2.100
0.495
1.400
1.620
0.145
3.550
0.790
1.200
0.390
0.360
1.400
0.550
1.450
0.570
0.255
—
UNCH
0.005
0.005
0.015
-0.005
0.040
—
0.020
0.010
UNCH
—
0.040
0.080
0.010
0.045
—
—
—
UNCH
0.005
0.040
0.020
UNCH
0.010
0.070
—
-0.035
0.005
0.020
0.015
-0.005
0.100
0.015
—
0.010
UNCH
0.090
0.030
-0.010
0.020
0.025
0.050
UNCH
UNCH
—
0.005
—
110
11.9
89.8
424.3
45.1
1
—
112.6
330.7
73.5
—
1809.5
2235
27.8
4552.2
—
—
—
6043.7
4683
1
3725.7
801.3
44.2
596.6
—
29
41.1
1949
19
117.7
820.4
1305.7
—
427.2
131.8
33.7
757.4
1805.9
602.3
541.1
381.3
10
396.2
—
1107.7
—
0.931
0.000
0.888
0.799
1.255
1.480
—
0.000
2.720
0.603
—
1.010
4.762
1.178
1.184
—
—
—
5.810
0.000
1.052
0.522
0.000
1.180
1.845
—
0.996
0.340
0.478
0.523
2.783
2.322
0.460
—
1.391
0.299
6.189
1.195
0.000
0.298
0.554
1.250
0.000
2.270
—
0.300
16.48
16.24
4.91
58.00
14.47
7.84
7.02
7.17
10.78
44.95
—
8.68
5.04
15.56
8.30
4.29
—
—
12.44
15.08
—
—
31.15
—
66.67
8.19
58.30
13.67
6.27
6.81
—
—
11.02
20.37
16.22
—
15.26
10.99
11.62
11.53
3.38
22.22
12.68
10.78
14.96
—
4.18
—
3.13
5.19
—
4.44
3.03
3.68
1.75
2.66
2.14
2.91
1.95
2.86
2.66
2.24
—
1.84
1.16
1.47
2.34
—
—
—
—
—
2.92
—
3.04
—
3.17
—
9.05
1.90
2.02
7.14
5.56
—
5.07
1.58
—
—
0.50
—
1.82
1.35
—
—
13.3
309.5
205.1
470.8
97.9
342.0
176.2
158.5
502.9
799.8
141.9
139.9
316.9
10,850.6
330.3
325.7
11.0
25.4
1,031.3
11,433.5
348.4
109.4
499.7
69.5
882.4
390.7
196.5
108.6
24.1
674.2
55.6
549.7
987.7
314.2
127.8
546.0
46.0
577.8
611.5
1,551.5
124.9
173.0
91.0
64.0
1,740.7
67.9
215.4
5238
5166
6599
7315
5099
5014
5115
0159
6351
7083
5194
5210
1481
6399
7048
7579
6888
5021
7251
7241
6998
5032
5248
3395
5196
4219
6025
1562
7036
9474
2771
5257
5245
2925
7117
7209
7016
5104
5136
5037
5184
0091
5141
5132
7212
7277
5908
5216
2097
5259
5036
7471
1368
0064
5081
5208
7189
AAX
AEGB
AEON
AHB
AIRASIA
AIRPORT
ALAM
AMEDIA
AMWAY
ANALABS
APFT
ARMADA
ASB
ASTRO
ATLAN
AWC
AXIATA
AYS
BARAKAH
BHS
BINTAI
BIPORT
BJAUTO
BJCORP
BJFOOD
BJLAND
BJMEDIA
BJTOTO
BORNOIL
BRAHIMS
BSTEAD
CARIMIN
CARING
CCB
CENTURY
CHEETAH
CHUAN
CNI
COMPLET
COMPUGT
CYPARK
DAYA
DAYANG
DELEUM
DESTINI
DIALOG
DKSH
DSONIC
EASTLND
EATECH
EDARAN
EDEN
EDGENTA
EFFICEN
EIG
EITA
EKIB
0.200
0.465
2.700
0.185
1.270
5.230
0.480
0.025
9.900
1.750
0.205
0.940
0.120
2.890
4.580
0.380
5.970
0.260
0.950
0.390
0.255
6.500
1.930
0.375
2.200
0.680
0.440
3.130
0.570
0.605
3.940
0.780
1.960
2.940
0.815
0.410
0.450
0.065
0.790
0.045
1.700
0.100
1.630
1.160
0.600
1.650
4.000
1.560
0.350
1.170
0.340
0.215
3.450
0.235
0.920
1.130
0.750
UNCH
-0.005
0.010
0.005
0.010
0.030
0.005
UNCH
-0.020
0.050
-0.005
UNCH
-0.005
0.040
—
UNCH
0.170
UNCH
0.010
UNCH
0.005
UNCH
0.010
UNCH
0.100
-0.005
UNCH
0.060
-0.005
-0.005
0.040
-0.020
0.040
0.260
UNCH
—
-0.020
—
0.040
UNCH
0.010
0.005
-0.010
UNCH
0.020
0.030
-0.020
0.020
UNCH
0.090
—
UNCH
-0.030
0.005
0.020
0.010
UNCH
3742.6
40
161.7
531.7
34824
443.1
422.1
59
12.7
3
5437.6
18872.2
252
3999.3
—
820.8
16791.8
29.8
686.8
208.3
772.3
2
2404.7
1719.1
228.3
3
44.1
820.6
5867.5
116.7
38.3
48.6
498.1
510.6
1118.5
—
2
—
43.1
1982
348.7
5964.3
1543.8
738.3
217
10925.8
14.8
10284.9
13.9
2538
—
64
34.1
1004.5
46
56.1
30
1.040
0.344
15.101
0.000
2.412
8.659
1.512
0.089
12.480
1.730
0.311
3.968
0.140
2.917
—
0.277
6.719
0.310
1.392
1.312
0.320
0.000
1.535
0.525
1.679
0.820
0.490
3.924
0.489
1.493
5.333
0.000
1.759
2.454
2.050
—
0.458
—
0.690
0.050
2.457
0.381
5.370
4.279
0.371
2.979
6.572
9.405
0.480
0.000
—
0.336
2.565
0.146
0.000
0.958
0.385
—
—
20.59
14.45
—
12.45
9.45
—
17.07
14.46
—
—
—
27.03
23.95
11.01
21.17
11.21
8.47
—
8.25
23.34
10.52
2.09
3.82
—
—
11.84
19.32
—
12.73
—
33.16
8.45
7.15
19.07
39.47
—
87.78
—
8.07
—
8.71
8.02
28.44
29.73
11.64
47.71
2.32
19.18
106.2
—
15.40
23.74
10.86
10.71
—
—
10.75
1.85
—
2.36
1.45
—
—
4.04
1.71
—
1.73
2.08
4.15
6.00
—
3.69
3.85
2.11
—
—
3.38
5.03
2.67
1.93
—
—
5.91
—
—
5.33
—
1.02
—
4.91
3.05
1.27
4.62
3.80
—
2.94
—
4.29
6.03
—
1.27
2.38
0.96
—
0.85
—
—
1.45
—
3.80
3.54
—
829.6
190.6
3,790.8
29.6
3,534.4
8,677.6
443.7
29.9
1,627.4
105.0
87.4
5,514.3
79.7
15,033.0
1,161.7
86.9
51,975.2
98.9
782.0
166.4
54.7
2,990.0
2,200.5
1,624.4
825.0
3,400.2
103.4
4,228.7
218.4
143.0
4,074.7
182.4
426.7
296.2
304.4
52.3
75.2
46.8
96.3
96.0
410.7
165.2
1,429.7
464.0
484.9
8,414.6
630.6
2,106.0
86.0
589.7
20.4
66.9
2,806.6
166.6
170.7
146.9
68.9
# PE is calculated based on latest 12 months reported Earnings Per Share
YEAR
LOW
DAY
HIGH
DAY
LOW
0.966 1.140
1.100
1.500
—
—
0.450 0.510
0.505
1.250 1.520
1.420
0.110 0.175
0.160
0.110
—
—
1.892 2.500
2.420
0.820 1.160
1.140
3.716 4.270
4.120
6.510 7.330
7.230
0.960 1.520
1.490
0.380
—
—
1.890 2.280
2.270
0.060
—
—
0.265 0.335
0.335
3.416 5.610
5.560
1.350 2.490
2.440
2.969 3.200
3.200
0.010 0.015
0.010
0.250 0.345
0.340
4.576 6.060
6.000
0.599 0.835
0.830
0.790 1.000
1.000
0.205 0.240
0.235
1.450 1.800
1.750
0.360
—
—
0.215 0.320
0.320
1.638 1.850
1.800
0.250 0.305
0.305
1.420 1.550
1.520
3.472 4.190
4.140
1.031 1.340
1.310
0.350 0.390
0.385
0.190 0.215
0.205
0.270 0.330
0.320
0.120 0.265
0.255
0.500 0.680
0.655
0.637 1.570
1.500
2.421 2.590
2.570
1.180 1.660
1.630
0.135 0.145
0.145
6.083 6.680
6.580
0.775 0.895
0.880
2.507 2.890
2.760
1.011 1.320
1.280
0.500 0.550
0.540
0.650 0.850
0.840
1.886 2.550
2.550
0.895 1.060
1.030
6.365 8.900
8.690
1.490 2.250
2.170
0.330 0.405
0.400
0.065 0.075
0.070
0.155 0.190
0.180
0.270 0.300
0.295
2.500 2.870
2.800
0.560
—
—
2.064
—
—
0.075 0.095
0.080
0.587 0.860
0.850
0.615 0.760
0.750
1.231 1.350
1.320
0.085 0.110
0.105
0.680 2.310
2.260
0.378
—
—
0.456 0.600
0.580
0.990 1.190
1.150
0.910 1.140
1.130
0.055 0.080
0.075
0.880 1.140
1.080
0.985
—
—
0.240 0.345
0.335
0.135 0.165
0.165
2.798 5.850
5.830
14.210 22.300 22.180
0.030
—
—
3.929 6.690
6.500
0.167 0.205
0.195
0.220
—
—
3.337 3.750
3.610
1.296 1.910
1.880
1.864 2.900
2.840
0.100 0.140
0.135
0.340 0.380
0.360
0.535 0.645
0.635
0.572 0.720
0.655
0.393 0.505
0.460
0.090 0.115
0.115
1.183 1.920
1.900
0.135 0.185
0.180
0.230 0.275
0.265
0.640 1.040
1.040
1.236 1.390
1.370
1.155 1.480
1.390
6.700 8.160
8.000
0.751 0.900
0.850
1.360 1.900
1.860
0.848 1.820
1.770
2.039 2.440
2.440
2.250
—
—
0.100 0.150
0.145
1.900 2.150
2.120
0.110 0.160
0.150
0.330 0.355
0.340
1.521 3.500
3.410
2.374 3.810
3.800
10.260 12.180 12.040
0.686 1.540
1.530
0.290 0.390
0.370
0.130 0.200
0.185
5.908 6.820
6.780
0.435 0.565
0.550
0.878 1.150
1.080
0.370
—
—
2.563
—
—
0.866
—
—
2.300
—
—
0.860 1.170
1.130
1.200 1.280
1.240
0.500
—
—
1.280 2.010
1.990
0.360 0.480
0.450
2.252
—
—
0.420
—
—
2.713 4.300
4.170
0.755 1.230
1.210
0.025 0.035
0.030
2.310 2.900
2.870
0.434 0.595
0.585
1.349 1.550
1.500
10.083
2.100
3.310
10.100
10.100
4.170
1.225
3.700
7.457
4.453
0.895
1.182
12.300
7.400
12.500
1.770
0.580
0.782
0.125
1.513
0.532
10.559
0.552
2.650
7.963
1.260
2.990
1.290
1.173
16.880
0.198
5.850
0.550
2.010
—
2.370
3.400
10.300
—
4.660
1.540
4.080
8.000
4.540
1.320
1.260
13.480
—
14.600
2.000
0.700
—
0.135
—
0.625
13.780
0.750
2.850
8.600
1.640
3.390
1.450
1.360
18.180
0.260
5.980
0.605
3.900
—
2.330
3.360
10.240
—
4.580
1.530
4.040
7.820
4.480
1.290
1.240
13.200
—
13.940
2.000
0.690
—
0.135
—
0.610
13.740
0.725
2.850
8.460
1.590
3.360
1.440
1.350
17.820
0.255
5.900
0.595
3.830
CODE
5056
6939
9318
7210
0128
9377
5209
0078
4715
3182
3204
7676
7668
7110
7253
3034
2062
5008
7013
5255
5225
5614
5673
8923
0058
8672
5079
6491
0151
5035
5878
5843
9121
4847
6874
7170
8486
5143
3859
5264
3514
6012
5077
5983
4502
5090
7234
3069
5186
3816
2194
0059
0043
3891
3905
0138
9806
5509
4464
5533
0172
5201
3018
5260
8419
5125
5657
5041
6254
5133
7108
0047
7080
5219
5681
7027
7081
7201
7163
4634
5204
8346
0037
8885
8567
5147
7185
9113
0099
7158
7045
7053
9792
5250
4197
9431
5218
5242
6084
9865
1201
6521
0016
5173
8524
5140
5347
8702
7228
7206
4863
0101
8397
7218
5711
5167
7137
5243
7091
5754
7250
7240
5016
7692
5246
5267
7122
7293
7066
4677
5139
5185
2488
1163
1163PA
1015
5088
5258
1818
1023
2143
5228
5819
5274
1082
6688
3379
3379PA
3441
5096
6483
8621
1198
1058
1155
1171
6459
5237
6009
1295
9296
1066
4898
6139
COUNTER
CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
0.88
5.29
5.37
3.29
—
—
4.78
0.73
1.48
0.55
3.49
1.46
6.58
—
—
4.46
1.02
4.69
—
—
0.50
4.19
—
—
12.57
—
—
4.62
3.28
3.29
1.93
2.99
—
—
—
—
—
3.23
7.78
—
1.38
5.11
1.12
2.82
8.33
6.16
—
3.14
—
1.54
1.57
2.47
—
—
—
0.54
—
1.65
—
2.35
—
4.51
—
—
5.23
4.30
—
3.32
—
1.75
1.30
—
—
0.68
1.71
—
5.08
1.90
—
3.49
1.71
—
1.79
—
4.69
4.51
9.00
—
3.82
—
—
—
9.42
1.72
4.43
1.11
1.07
1.67
6.15
2.14
—
3.27
—
—
3.59
2.37
2.40
9.74
—
—
3.34
0.25
3.64
—
1.29
5.10
2.31
0.87
3.54
—
1.89
—
2.80
—
2.67
—
—
0.52
—
6.17
338.6
246.0
244.9
263.0
179.1
22.3
3,107.3
1,421.8
25,355.5
27,138.2
456.6
96.8
461.0
5.2
53.6
12,586.7
444.1
219.2
48.8
400.2
49,750.8
148.7
72.5
36.4
245.0
77.2
40.3
509.3
67.1
151.5
4,416.0
668.7
57.7
86.6
180.9
22.1
151.7
410.2
3,695.0
8,300.0
152.9
49,939.5
890.0
1,109.6
1,464.1
928.0
35.7
620.5
1,680.0
39,058.2
6,790.5
65.9
53.1
557.2
706.8
3,365.9
39.1
1,998.6
70.4
87.4
401.4
616.1
112.6
427.4
120.4
369.9
1,290.8
374.3
69.5
366.8
1,153.5
405.7
32.3
1,086.9
22,034.8
2.8
1,731.9
131.6
12.5
2,013.8
919.6
290.0
182.3
326.2
433.7
97.9
91.7
21.8
675.4
290.2
620.6
54.2
1,032.4
1,788.4
50,434.6
36.5
11,265.3
297.0
1,802.1
170.8
522.4
606.3
105.6
426.0
1,529.8
380.0
68,287.7
191.1
141.2
213.0
25,554.0
970.4
462.8
15.2
198.7
105.8
105.8
2,486.3
163.3
57.6
581.9
55.2
168.0
24.4
14,663.0
219.6
18.3
3,147.3
94.6
16,622.7
4.22
6.38
4.56
0.49
0.59
5.95
7.84
5.71
4.35
1.78
—
5.78
3.06
1.47
2.65
1.25
1.44
4.49
—
3.86
1.64
4.12
8.28
3.51
6.63
5.89
—
—
6.54
3.03
5.77
1.01
2.98
3.91
1,946.9
4,565.9
5,232.6
1,733.7
931.5
13,835.1
326.8
6,261.4
4,244.8
38,119.2
372.6
234.4
25,228.4
2,518.3
15,075.6
510.3
481.9
118.0
84.1
310.8
446.4
4,568.1
220.7
576.8
82,037.9
4,513.3
720.2
1,029.6
334.5
70,577.3
350.2
15,323.8
1,035.7
3,132.8
ENGTEX
FIAMMA
FITTERS
FREIGHT
FRONTKN
FSBM
GASMSIA
GDEX
GENM
GENTING
GKENT
GUNUNG
HAIO
HAISAN
HANDAL
HAPSENG
HARBOUR
HARISON
HUBLINE
ICON
IHH
ILB
IPMUDA
JIANKUN
JOBST
KAMDAR
KBES
KFIMA
KGB
KNUSFOR
KPJ
KPS
KPSCB
KTB
KUB
LFECORP
LIONFIB
LUXCHEM
MAGNUM
MALAKOF
MARCO
MAXIS
MAYBULK
MBMR
MEDIA
MEDIAC
MESB
MFCB
MHB
MISC
MMCCORP
MMODE
MTRONIC
MUIIND
MULPHA
MYEG
NATWIDE
NCB
NICORP
OCB
OCK
OLDTOWN
OLYMPIA
OWG
PANSAR
PANTECH
PARKSON
PBA
PDZ
PENERGY
PERDANA
PERISAI
PERMAJU
PESTECH
PETDAG
PETONE
PHARMA
PICORP
PJBUMI
POS
PRESBHD
PRKCORP
RGB
RPB
SALCON
SAMCHEM
SAMUDRA
SANBUMI
SCICOM
SCOMI
SCOMIES
SEEHUP
SEG
SEM
SIME
SJC
SKPETRO
SOLID
STAR
SUIWAH
SUMATEC
SURIA
SYMPHNY
SYSCORP
TALIWRK
TASCO
TENAGA
TEXCHEM
TGOFFS
THHEAVY
TM
TMCLIFE
TNLOGIS
TOCEAN
TSTORE
TURBO
UMS
UMWOG
UNIMECH
UTUSAN
UZMA
VOIR
WARISAN
WIDETEC
WPRTS
XINHWA
YFG
YINSON
YONGTAI
YTL
1.140
1.700
0.510
1.520
0.170
0.175
2.420
1.150
4.270
7.250
1.520
0.410
2.280
0.065
0.335
5.600
2.440
3.200
0.015
0.340
6.050
0.835
1.000
0.240
1.750
0.390
0.320
1.840
0.305
1.520
4.190
1.340
0.390
0.215
0.325
0.260
0.655
1.550
2.570
1.660
0.145
6.650
0.890
2.840
1.320
0.550
0.850
2.550
1.050
8.750
2.230
0.405
0.070
0.190
0.300
2.800
0.650
4.250
0.090
0.850
0.760
1.330
0.110
2.310
0.430
0.600
1.180
1.130
0.080
1.140
1.540
0.340
0.165
5.850
22.180
0.055
6.690
0.200
0.250
3.750
1.900
2.900
0.140
0.380
0.640
0.720
0.500
0.115
1.900
0.185
0.265
1.040
1.380
1.450
8.120
0.900
1.880
1.800
2.440
2.800
0.150
2.140
0.160
0.355
3.480
3.800
12.100
1.540
0.370
0.190
6.800
0.560
1.100
0.370
2.900
0.980
2.600
1.150
1.270
0.520
2.000
0.460
2.500
0.545
4.300
1.220
0.030
2.880
0.590
1.540
0.040
510.4
—
—
0.005
201
UNCH
1.9
0.010 34003.3
—
—
-0.030
61.2
0.010
247.1
0.160 2380.2
-0.030 2049.5
0.020 1316.1
—
—
UNCH
17
—
—
0.010
198.2
0.040
520.6
-0.020
68.8
0.100
1.5
UNCH
1156
UNCH
292.8
0.040 8509.8
0.005
93.6
UNCH
10
UNCH
50
-0.030
18.3
—
—
0.020
10
0.030
46.1
UNCH
15
0.010
6
UNCH
102.2
0.030
245.3
UNCH
140
0.005 1335.7
0.005
727.1
-0.005
136
-0.015
31
0.050 1398.9
0.010
275.4
UNCH 2411.8
UNCH
385
0.100 3308.7
UNCH
184.2
-0.060
17.5
0.040
999.8
0.005
983.2
0.030
1
UNCH
828.1
UNCH 1734.3
0.080 2273.8
0.060
286.1
UNCH
501.8
UNCH
1565
UNCH
240.9
0.005
1184
UNCH 2508.7
—
—
—
—
0.005 4094.1
0.050
6.4
0.005
13.5
-0.020
500.4
0.005 1569.2
0.050
331.9
—
—
0.020
252
0.030 1007.9
UNCH
294
0.010 2703.3
0.020
55
—
—
0.005 12457.4
UNCH
55
0.030
7.5
0.040
339.1
—
—
0.190 1773.2
UNCH
148.4
—
—
0.080
66.8
0.030
813.8
0.070
58.6
UNCH
290
UNCH
14.1
0.005 1052.1
0.005
2.4
0.020
48.1
0.010
212.5
UNCH
43.7
0.005 1014.7
0.005
862.7
-0.040
1
-0.030
263.7
-0.030 1336.1
0.070 5294.3
0.130
0.3
0.020
10085
0.020
871.8
UNCH
6.5
—
—
0.005 18659.5
0.020
22.2
0.010 1212.1
-0.005
61
-0.020
79.9
-0.040
5
0.040 8366.6
UNCH
27.1
UNCH
28.1
-0.005 9419.4
0.010
10477
0.005
660.2
0.020 2505.6
—
—
—
—
—
—
—
—
UNCH 3228.1
-0.010
8.8
—
—
UNCH
166
-0.005
49.9
—
—
—
—
0.070 3986.3
UNCH
117
UNCH
362.5
0.010
62.7
0.010
633
0.050 6931.1
1.658
7.26
—
6.66
0.750 14.17
1.540 12.91
0.075
9.29
—
—
3.875 22.30
2.952 48.32
4.211 20.72
10.196 20.50
1.081 13.50
— 10.90
2.644 14.78
—
—
0.468
6.62
2.654 11.36
0.869
8.53
3.050 10.60
0.048
—
0.000
7.93
4.042 62.96
0.723
—
0.670
5.87
0.322
—
0.000
3.87
—
8.86
0.275
—
1.978
9.62
0.000 13.15
0.000
5.40
6.116 28.54
2.191
6.30
0.462
4.38
0.152 10.97
0.429 30.95
0.151 25.24
1.000
—
1.286 18.34
3.264 14.24
0.000
3.39
0.150
7.29
7.027 30.35
1.704
—
3.599
9.10
2.650 19.38
1.005
2.42
0.000 21.63
1.976
7.77
3.738 15.37
1.000 14.68
2.820
4.06
0.686
8.54
0.094 35.00
0.201
—
0.424
3.69
2.509 49.12
— 3250.0
— 51.20
0.115
—
0.000 14.68
0.816 18.36
2.573 13.12
0.124
4.33
0.000 27.60
—
8.08
0.994
9.17
3.506 68.60
0.984 15.25
0.080
—
2.187
8.62
— 29.11
1.458 13.88
0.346
—
2.757 22.63
30.797 34.47
—
0.59
4.619 17.38
0.175 12.42
—
—
5.937 16.42
2.589 56.55
1.000
2.39
0.115
8.28
0.386
—
0.674 48.85
0.000 12.93
0.350
8.43
0.217
—
0.654 20.17
0.368
6.17
0.721
9.50
1.000 203.92
1.536 28.93
0.000 29.71
9.647 21.59
0.000 57.32
4.291 13.35
0.725 31.03
2.459 15.57
— 15.86
0.304
7.77
2.666
4.84
0.118 106.67
0.435 84.52
0.982
4.91
2.066 14.17
1.000 10.27
0.865 34.53
0.629
—
0.900
—
1.000 33.68
0.384 54.90
1.000
6.31
— 43.02
— 10.90
—
7.83
— 12.22
3.400 14.22
1.755 11.94
—
—
4.650 10.83
0.000
—
—
—
— 14.08
2.533 28.05
0.000 12.20
0.130 17.65
5.861 10.29
0.000
4.08
1.611 14.95
AEONCR
AFFIN
AFG
ALLIANZ
ALLIANZ-PA
AMBANK
APEX
BIMB
BURSA
CIMB
ECM
ELKDESA
HLBANK
HLCAP
HLFG
HWANG
INSAS
INSAS-PA
JOHAN
KAF
KENANGA
LPI
MAA
MANULFE
MAYBANK
MBSB
MNRB
MPHBCAP
P&O
PBBANK
RCECAP
RHBCAP
TA
TAKAFUL
13.520
2.350
3.380
10.240
10.120
4.590
1.530
4.060
7.940
4.490
1.300
1.250
13.420
10.200
14.320
2.000
0.695
0.890
0.135
2.590
0.610
13.760
0.725
2.850
8.600
1.590
3.380
1.440
1.360
18.180
0.260
5.920
0.605
3.840
—
—
-0.020
623.2
0.010 1180.5
UNCH
27.8
—
—
0.010
3338
-0.040
13.5
UNCH
63.7
-0.010
512.3
0.020 13277.1
0.010
112.1
-0.010
626.5
0.220
298.9
—
—
0.260
79.1
-0.010
8
0.010
145.9
—
—
0.005
146.4
—
—
-0.005
187.2
0.060
8
-0.020
203
UNCH
30.8
0.150 9825.7
-0.010 1331.2
0.020
45.5
-0.010
22.5
UNCH
34
0.380 6129.6
0.005
1155
0.040
244.8
UNCH
432.4
0.010
572
—
4.253
4.969
10.400
—
7.396
1.180
1.000
8.033
7.536
1.068
1.512
1.000
—
15.806
4.315
0.963
—
0.160
—
0.620
16.538
0.663
1.000
9.750
2.620
3.648
1.767
1.467
1.000
0.265
7.601
0.782
1.000
67.26
8.77
9.85
5.79
—
8.01
16.47
11.29
20.86
16.27
8.89
8.53
10.62
32.15
9.26
10.27
5.00
—
—
54.41
15.29
14.08
—
16.77
11.67
5.35
5.33
15.88
18.84
14.47
10.92
7.50
12.90
21.11
2
PROP
1
1
0
0
1
0
0
1
2
3
3
1
2
0
2
1
2
1
0
1
0
0
1
1
0
2
2
0
2
2
2
0
1
0
0
1
2
0
1
1
0
1
1
1
2
1
0
0
0
0
3
0
0
1
1
0
3
3
2
2
2
0
1
2
0
1
1
1
1
3
0
1
6
3
1
3
1
0
8
0
2
0
0
0
2
1
1
2
1
1
2
0
MINI
1
PLAN
1
18
8
1
0
9
0
8
3
10
1
1
1
2
3
0
1
4
23
3
2
0
3
2
1
1
2
5
0
1
0
4
3
0
6
2
0
1
1
2
6
28
HOTE
0
1
0
7
TECH
1
0
0
0
0
0
0
1
0
1
1
0
0
6
0
3
0
0
4
0
* Volu
T U E SDAY OC TOBE R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
Markets 3 5
BURSA MAL AYSIA MAIN MARKET . ACE MARKET
AP
IL)
8.6
6.0
4.9
3.0
9.1
2.3
7.3
1.8
5.5
8.2
6.6
6.8
1.0
5.2
3.6
6.7
4.1
9.2
8.8
0.2
0.8
8.7
2.5
6.4
5.0
7.2
0.3
9.3
7.1
1.5
6.0
8.7
7.7
6.6
0.9
2.1
1.7
0.2
5.0
0.0
2.9
9.5
0.0
9.6
4.1
8.0
5.7
0.5
0.0
8.2
0.5
5.9
3.1
7.2
6.8
5.9
9.1
8.6
0.4
7.4
1.4
6.1
2.6
7.4
0.4
9.9
0.8
4.3
9.5
6.8
3.5
5.7
2.3
6.9
4.8
2.8
1.9
1.6
2.5
3.8
9.6
0.0
2.3
6.2
3.7
7.9
1.7
1.8
5.4
0.2
0.6
4.2
2.4
8.4
4.6
6.5
5.3
7.0
2.1
0.8
2.4
6.3
5.6
6.0
9.8
0.0
7.7
1.1
1.2
3.0
4.0
0.4
2.8
5.2
8.7
5.8
5.8
6.3
3.3
7.6
1.9
5.2
8.0
4.4
3.0
9.6
8.3
7.3
4.6
2.7
6.9
5.9
2.6
3.7
1.5
5.1
6.8
1.4
4.8
9.2
2.6
4.4
8.4
8.3
5.6
0.3
1.9
8.0
4.1
0.8
6.4
8.1
0.7
6.8
7.9
3.3
0.2
9.6
4.5
7.3
0.2
3.8
5.7
2.8
YEAR
HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
2.228 1.210
PROPERTIES
1.011 0.655
1.236 0.785
0.507 0.354
0.305 0.155
1.360 0.864
0.915 0.510
0.926 0.726
1.480 0.900
2.795 1.850
3.198 1.460
3.394 1.980
1.460 0.430
2.511 1.413
0.375 0.210
2.100 1.170
1.520 0.720
2.950 1.200
1.000 0.655
0.626 0.410
1.123 0.730
0.515 0.340
0.842 0.425
1.150 0.860
1.775 1.020
0.750 0.440
2.282 1.589
2.770 1.770
0.879 0.461
2.420 1.160
2.884 2.329
2.624 1.735
0.585 0.315
1.600 0.745
0.380 0.205
0.090 0.040
1.237 0.808
2.300 1.330
0.591 0.324
1.500 1.100
1.582 1.230
0.390 0.250
1.163 0.742
1.692 1.260
1.092 0.630
2.736 1.727
1.405 1.032
0.685 0.535
0.950 0.555
0.440 0.275
0.294 0.186
3.585 1.900
0.464 0.300
0.460 0.145
1.599 0.795
1.970 0.915
0.495 0.265
3.401 1.950
3.150 2.109
2.152 1.580
2.511 1.706
2.051 1.280
0.640 0.290
1.818 1.290
2.976 1.720
0.320 0.195
1.003 0.715
1.440 0.640
1.112 0.855
1.080 0.450
3.413 2.609
0.210 0.140
1.503 0.850
6.067 4.500
3.540 2.920
1.189 0.702
3.527 2.763
1.001 0.690
0.368 0.245
8.648 5.391
0.120 0.050
2.347 1.160
0.195 0.105
0.760 0.253
0.145 0.075
2.425 1.460
1.344 0.830
1.829 0.755
2.184 1.680
1.888 1.140
1.764 0.698
2.076 1.552
0.935 0.595
MINING
1.560 1.120
PLANTATIONS
1.150 1.000
18.468 16.380
8.450 7.423
1.456 1.096
0.936 0.685
9.606 7.800
0.780 0.380
8.300 7.000
3.604 1.180
10.721 8.494
1.940 0.900
1.270 0.701
1.240 0.790
2.573 1.922
3.754 2.990
0.842 0.605
1.700 1.200
4.874 3.652
23.375 19.127
3.687 2.631
2.846 2.156
0.525 0.345
3.070 2.410
2.068 1.430
1.900 1.500
1.067 0.800
2.879 2.610
5.424 4.000
0.430 0.200
1.230 0.800
0.710 0.465
4.150 3.500
3.662 2.670
0.850 0.560
6.332 3.610
2.498 1.700
0.927 0.510
1.718 1.110
1.793 1.103
2.378 1.730
6.785 5.350
28.000 22.165
HOTELS
0.964 0.515
1.460 0.840
0.530 0.095
7.397 5.810
TECHNOLOGY
1.000 0.690
0.670 0.195
0.300 0.115
0.380 0.210
0.255 0.130
0.305 0.185
0.410 0.180
1.797 1.002
0.699 0.470
1.976 1.094
1.280 0.850
0.385 0.185
0.319 0.232
6.449 3.454
0.743 0.539
3.547 1.804
0.300 0.100
0.780 0.432
4.600 2.246
0.250 0.045
1.290
1.280
5230
0.940
0.875
0.445
0.210
1.090
0.580
—
0.980
1.970
1.650
2.080
0.570
1.580
0.280
1.390
0.740
1.890
0.790
0.490
0.895
0.380
0.615
—
1.190
0.480
1.820
2.700
0.545
2.420
2.500
2.070
0.370
0.800
0.225
0.050
1.020
1.600
0.410
1.470
1.440
0.270
0.945
1.290
0.750
2.310
1.150
0.580
0.610
0.300
—
2.250
0.355
—
1.160
0.950
0.325
2.210
3.150
1.670
1.960
1.680
0.320
—
2.030
0.240
0.895
0.820
0.930
0.465
3.050
0.170
0.960
4.910
3.240
0.820
3.130
0.700
0.280
6.900
0.060
1.330
0.135
0.525
0.085
1.540
0.940
1.210
1.950
1.250
—
1.800
0.670
0.925
0.875
0.445
0.205
1.080
0.560
—
0.980
1.970
1.600
2.050
0.550
1.560
0.275
1.350
0.735
1.800
0.790
0.475
0.830
0.375
0.580
—
1.170
0.440
1.790
2.700
0.520
2.300
2.490
2.040
0.355
0.790
0.220
0.045
1.020
1.510
0.400
1.450
1.420
0.260
0.930
1.270
0.735
2.280
1.150
0.565
0.610
0.300
—
2.230
0.345
—
1.130
0.950
0.315
2.170
3.140
1.650
1.950
1.650
0.320
—
2.000
0.230
0.885
0.810
0.885
0.465
3.000
0.165
0.955
4.900
3.180
0.795
3.100
0.690
0.275
6.800
0.055
1.310
0.125
0.495
0.080
1.530
0.930
1.170
1.890
1.250
—
1.790
0.670
1007
5959
1007PA
4057
6602
9814
3239
5738
6718
5049
5355
3484
3417
3557
8206
6076
8613
6815
6041
5020
9962
1147
2968
1503
7010
5062
5018
4251
5084
1597
5249
5175
1589
6769
3115
7323
5038
3174
8494
5789
3573
7617
8583
6181
5236
5182
5040
1694
8141
8141PA
6114
8893
6548
1651
9539
3913
5073
5827
5053
6661
1724
6912
1945
5075
2208
4596
5207
2224
4286
6017
4375
5213
1783
8664
3743
5211
1538
5158
2305
2259
5191
2429
7889
7079
5239
5401
5148
5200
2976
7003
3158
2577
1.230
1.220
2186
KUCHAI
—
17.200
—
1.400
0.800
8.200
0.480
—
1.570
10.400
1.430
1.020
—
2.380
3.310
—
—
4.290
22.780
—
2.800
0.480
3.070
—
1.620
0.960
—
—
—
—
0.565
—
3.100
—
4.700
1.930
0.685
1.440
1.390
2.100
5.960
26.100
—
17.100
—
1.380
0.760
8.200
0.460
—
1.510
10.160
1.400
1.020
—
2.300
3.210
—
—
4.150
22.500
—
2.780
0.430
3.020
—
1.600
0.955
—
—
—
—
0.545
—
3.100
—
4.640
1.900
0.660
1.390
1.380
2.010
5.950
25.920
7054
1899
5069
5254
8982
1929
3948
5029
5222
2291
7382
2135
7501
5138
2216
2607
6262
1961
2445
2453
5027
1996
2003
6572
4936
5026
5047
2038
1902
9695
5113
2542
2569
4316
5126
5135
2054
5112
5251
9059
2593
2089
AASIA
BKAWAN
BLDPLNT
BPLANT
CEPAT
CHINTEK
DUTALND
FAREAST
FGV
GENP
GLBHD
GOPENG
HARNLEN
HSPLANT
IJMPLNT
INCKEN
INNO
IOICORP
KLK
KLUANG
KMLOONG
KRETAM
KULIM
KWANTAS
MALPAC
MHC
NPC
NSOP
PINEPAC
PLS
RSAWIT
RVIEW
SBAGAN
SHCHAN
SOP
SWKPLNT
TDM
THPLANT
TMAKMUR
TSH
UMCCA
UTDPLT
1.050
17.140
8.100
1.390
0.800
8.200
0.475
7.200
1.520
10.280
1.420
1.020
0.840
2.350
3.300
0.660
1.390
4.170
22.640
3.130
2.790
0.465
3.060
1.550
1.600
0.955
2.800
4.300
0.260
0.800
0.560
3.600
3.100
0.650
4.690
1.900
0.670
1.420
1.380
2.100
5.960
25.920
—
1.120
0.280
6.300
—
1.100
0.270
6.170
5592
1643
1287
5517
GCE
LANDMRK
PMHLDG
SHANG
0.600
1.110
0.280
6.300
—
UNCH
0.010
UNCH
—
54.9
756
54
—
1.097
0.065
6.645
0.870
0.270
0.145
0.375
0.180
0.200
0.240
1.420
0.620
1.800
1.020
0.235
0.265
6.200
—
3.400
0.115
0.690
4.600
0.225
0.790
0.265
0.140
0.355
0.175
0.195
0.230
1.410
0.615
1.710
1.000
0.225
0.260
6.010
—
3.310
0.115
0.680
4.450
0.205
7031
5195
0051
7204
8338
0029
4456
5162
0065
0090
0021
0082
0056
7022
5028
0166
9393
5161
9334
0143
AMTEL
CENSOF
CUSCAPI
D&O
DATAPRP
DIGISTA
DNEX
ECS
EFORCE
ELSOFT
GHLSYS
GPACKET
GRANFLO
GTRONIC
HTPADU
INARI
ITRONIC
JCY
KESM
KEYASIC
0.870
0.270
0.145
0.355
0.175
0.200
0.240
1.410
0.615
1.760
1.010
0.230
0.265
6.100
0.620
3.390
0.115
0.685
4.450
0.210
0.075
0.005
0.005
-0.005
UNCH
UNCH
0.005
-0.010
UNCH
0.060
UNCH
0.005
UNCH
-0.100
—
0.030
-0.005
0.005
-0.050
-0.010
3.1
662.3
450
4975.3
280
51
1400.6
25
25
589.3
682.4
1605.1
105
846
—
420.9
0.2
1320.8
139.8
1808.7
0.000
0.579
0.378
0.310
0.255
0.230
0.264
1.201
0.509
0.652
0.796
0.462
0.276
3.122
—
1.542
0.640
0.574
2.047
0.000
* Volume Weighted Average Price
CODE
COUNTER
CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
TUNEPRO
1.280
-0.010
875.2
1.895
13.49
3.16
962.3
AMPROP
A&M
AMPROP-PA
ASIAPAC
BCB
BERTAM
BJASSET
CHHB
CRESNDO
CVIEW
DAIMAN
DBHD
E&O
ECOFIRS
ECOWLD
ENCORP
ENRA
EUPE
FARLIM
GLOMAC
GMUTUAL
GOB
GPLUS
GUOCO
HOOVER
HUAYANG
HUNZPTY
IBHD
IBRACO
IGB
IOIPG
IVORY
IWCITY
JKGLAND
KBUNAI
KEN
KSL
L&G
LBICAP
LBS
LIENHOE
MAGNA
MAHSING
MALTON
MATRIX
MCT
MEDAINC
MENANG
MJPERAK
MJPERAK-PA
MKH
MKLAND
MPCORP
MRCB
MUH
MUIPROP
NAIM
OIB
OSK
OSKPROP
PARAMON
PASDEC
PJDEV
PLENITU
PTGTIN
SAPRES
SBCCORP
SDRED
SEAL
SHL
SMI
SNTORIA
SPB
SPSETIA
SUNSURIA
SUNWAY
SYMLIFE
TAGB
TAHPS
TALAMT
TAMBUN
TANCO
THRIVEN
TIGER
TITIJYA
TROP
UEMS
UOADEV
WINGTM
Y&G
YNHPROP
YTLLAND
0.935
0.875
0.445
0.210
1.090
0.560
0.920
0.980
1.970
1.650
2.050
0.570
1.570
0.275
1.370
0.740
1.890
0.790
0.480
0.890
0.375
0.605
1.050
1.190
0.440
1.790
2.700
0.535
2.400
2.490
2.070
0.370
0.790
0.220
0.050
1.020
1.590
0.405
1.470
1.430
0.270
0.935
1.280
0.740
2.310
1.150
0.570
0.610
0.300
0.200
2.250
0.350
0.160
1.140
0.950
0.325
2.170
3.140
1.650
1.950
1.680
0.320
1.520
2.000
0.240
0.895
0.820
0.930
0.465
3.000
0.170
0.960
4.900
3.230
0.815
3.110
0.700
0.280
6.800
0.055
1.320
0.135
0.495
0.085
1.540
0.940
1.190
1.940
1.250
1.440
1.800
0.670
0.015
271.2
UNCH
9.6
UNCH
0.5
0.005
803
0.010
22.3
-0.020
0.7
—
—
0.060
4
0.010
19
0.020
28
-0.030
43
0.020
11.5
0.020
94.8
UNCH
60.5
0.020 2933.3
0.005
152.9
0.110
2.5
-0.020
1
0.005
55
0.060 1187.1
-0.020
20
0.030 22561.3
—
—
0.020
60.3
-0.040
19.6
UNCH
806.4
UNCH
5.1
0.015
885.5
0.100
41.1
0.010
38.4
0.020
923.7
0.005
36
-0.010
280
0.005
211.6
0.005
677.1
UNCH
5
0.060
535.7
0.005 1085.1
0.010
155.6
UNCH
80
0.010 1246.1
0.005
2.5
0.010 3108.2
-0.010
974.8
UNCH
35.1
UNCH
3
-0.010
189.8
0.005
46.5
-0.005
7.6
—
—
UNCH
61.2
-0.005
185
—
—
-0.010 4885.5
UNCH
18
0.015
231.1
-0.010
925.4
0.140
4
-0.010
135.1
UNCH
14
0.020
35
UNCH
50
—
—
0.010
63
UNCH
245
0.010
18
0.010
70
0.030
3.4
UNCH
0.7
UNCH
43.6
UNCH
10.1
0.025
26.5
-0.010
24.2
-0.030
24.6
0.030
327.5
-0.010
459.2
0.005
506
0.005
393.1
-0.200
6.4
UNCH 5364.6
-0.020
160.2
UNCH 1081.3
-0.005
47.9
UNCH 10713.1
-0.010
2
0.010
132.7
UNCH 15957.6
0.090
10.6
UNCH
2
—
—
-0.020
124.3
UNCH
10
0.829
0.932
0.000
0.147
0.000
0.596
—
1.020
3.069
2.594
3.289
0.380
1.920
0.198
2.716
1.045
1.060
0.725
0.510
1.083
0.462
0.758
—
1.070
0.355
2.133
2.302
2.532
2.016
2.710
0.000
0.609
1.257
0.262
0.076
1.480
2.051
0.373
1.240
1.661
0.325
1.305
2.198
0.882
3.220
0.726
0.794
0.655
0.515
—
2.646
0.366
—
1.373
0.000
0.172
3.622
2.410
1.608
1.350
1.536
0.444
—
2.699
0.300
0.927
1.217
0.882
0.519
2.150
0.174
0.618
4.633
2.873
0.830
2.648
1.086
0.299
5.530
0.066
1.411
0.160
1.210
0.219
1.555
1.341
2.305
1.990
2.342
—
1.727
0.952
7.38
10.39
—
0.57
6.73
7.83
14.15
—
3.66
4.37
16.61
—
12.53
32.35
65.87
—
22.72
7.49
45.28
7.36
4.88
2.40
7.89
4.22
17.19
4.06
24.98
6.86
8.51
15.76
8.24
9.37
—
8.46
—
6.33
3.82
2.49
6.63
10.10
—
6.03
8.36
7.51
5.46
—
—
3.06
90.91
—
10.78
7.94
—
6.62
3.99
—
4.22
14.23
7.72
3.82
11.31
—
7.87
3.52
—
5.96
8.24
5.09
—
6.92
—
14.66
12.08
11.41
24.70
6.49
5.80
10.81
13.51
—
5.59
—
16.89
—
6.72
4.90
11.23
8.16
6.05
8.64
30.77
27.24
3.21
1.71
4.49
1.43
—
—
2.17
—
3.55
14.55
2.44
—
1.70
—
—
—
—
1.90
10.42
4.78
5.33
—
—
1.68
—
7.26
—
2.82
5.24
2.01
2.90
—
—
0.91
—
2.94
6.29
4.94
3.40
2.27
—
5.35
5.08
—
6.43
1.74
—
—
—
2.50
3.56
2.86
—
2.19
—
—
1.61
3.82
4.55
5.13
4.46
—
4.28
—
—
2.79
1.95
3.23
—
8.33
—
2.08
2.45
3.00
—
3.54
7.14
3.57
4.71
—
7.35
—
—
—
2.60
6.56
2.52
6.70
3.74
6.08
—
—
558.3
319.4
132.1
208.4
224.8
115.8
1,024.0
270.2
450.1
165.0
435.0
176.3
1,977.9
200.8
3,239.0
206.2
257.4
101.1
67.4
647.8
140.9
275.1
154.2
833.5
17.6
472.6
673.9
529.6
425.5
3,398.3
7,822.2
164.8
529.1
166.8
288.8
195.6
1,572.1
442.3
107.8
788.1
97.7
311.3
3,084.1
331.8
1,271.2
1,535.0
280.8
162.9
59.3
18.3
943.7
422.5
46.0
2,036.7
53.6
248.3
542.5
284.3
2,314.5
645.2
709.4
65.9
803.2
763.1
83.1
124.9
192.6
396.3
103.0
726.4
35.7
464.7
1,683.7
8,489.2
599.4
5,595.2
217.0
1,490.1
509.0
232.1
559.7
45.2
186.5
68.8
554.4
1,360.6
5,399.5
2,950.3
608.5
287.1
794.6
565.7
1.226
6.54
—
152.2
—
—
19.530 15.21
— 31.29
0.000 30.22
0.938 17.66
0.000 24.17
0.485
8.29
— 14.13
4.456 46.63
10.947 26.36
1.050
—
0.740 19.28
—
—
2.617 19.34
3.367 32.35
—
—
— 23.84
5.619 156.77
24.513 28.22
— 40.92
2.598 13.15
3.488
—
3.678 60.24
—
—
1.533
—
1.055 20.81
— 33.33
—
—
—
—
—
—
0.811
—
— 29.53
3.230 37.80
—
—
6.100 28.90
2.550 12.51
0.981 30.18
1.861 36.60
0.000
7.31
2.804 56.76
1.000 26.47
26.600 19.57
1.90
3.50
0.49
—
2.50
1.95
—
4.17
6.58
0.63
0.70
2.94
9.52
3.40
1.82
1.65
—
2.16
2.43
0.32
4.66
—
3.10
3.23
—
2.09
0.36
1.63
—
—
—
2.78
—
—
1.07
4.74
2.24
1.41
10.87
1.19
2.68
1.54
126.0
7,472.2
757.4
2,224.0
254.8
749.2
401.9
1,018.0
5,545.2
7,992.2
316.5
182.9
155.8
1,880.0
2,905.9
277.7
265.8
26,937.9
24,168.3
197.7
869.9
871.9
4,111.5
483.1
120.0
187.7
336.0
301.9
38.9
261.4
794.4
233.5
205.6
74.8
2,063.5
532.0
992.7
1,255.1
549.5
2,847.1
1,246.9
5,394.8
—
—
—
36.84
3.33
—
—
1.90
118.2
533.7
260.1
2,772.0
63.50
19.57
—
56.35
—
—
16.90
7.39
15.07
17.17
77.69
1.56
10.82
25.17
34.83
14.21
—
8.68
11.24
—
—
—
—
—
—
—
—
4.26
3.25
3.98
—
—
3.77
1.48
3.23
2.33
—
6.93
0.67
—
42.9
134.1
63.2
347.3
67.0
92.7
186.1
253.8
127.2
318.8
655.4
158.8
128.0
1,717.4
62.8
2,476.2
11.8
1,412.9
191.4
169.3
1.230
0.020
20
—
—
0.140
13.8
—
—
0.010
177.3
0.040
109.1
0.020
4
0.015
387.6
—
—
0.010 18388.2
UNCH
108.1
-0.020
132
0.010
2
—
—
0.060
981.2
UNCH
9
—
—
—
—
-0.030
4936
0.140
1388
—
—
-0.010
120.7
0.025 3024.4
0.040
659.5
—
—
UNCH
9
0.020
30.2
—
—
—
—
—
—
—
—
0.015 4810.6
—
—
UNCH
1
—
—
-0.010
49.5
-0.050
4
0.010 3028.8
UNCH
12.4
UNCH
101
0.080
266.8
0.060
9
-0.180
53.3
# PE is calculated based on latest 12 months reported Earnings Per Share
DY
(%)
MKT CAP
(MIL)
YEAR
HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
7.250 4.022 6.750
6.620
1.880 0.990 1.030
1.000
0.550 0.340 0.395
0.385
0.765 0.446 0.520
0.510
0.415 0.280 0.305
0.300
0.915 0.315 0.825
0.805
0.480 0.200 0.305
0.300
0.135 0.045 0.060
0.055
2.598 1.147 2.170
2.120
3.805 2.009 2.880
2.840
0.960 0.606 0.710
0.705
INFRASTRUCTURE PROJECT COMPANIES
6.419 4.860 5.740
5.530
5.220 3.206 5.150
5.120
3.740 2.290 2.720
2.690
0.870 0.350 0.500
0.480
6.970 4.130 6.570
6.520
1.567 1.351 1.540
1.500
CLOSED-END FUNDS
2.450 2.100 2.280
2.250
EXCHANGE TRADED FUNDS
1.084 1.030
—
—
1.890 1.630
—
—
1.575 1.010 1.370
1.355
1.910 1.580 1.645
1.645
1.005 0.925 0.980
0.980
1.195 0.990 1.105
1.100
1.065 0.940 1.000
0.999
REITS
1.168 0.910 1.010
1.010
1.387 1.200 1.360
1.350
1.130 0.970 1.010
0.985
0.938 0.730 0.790
0.790
0.893 0.723 0.845
0.840
1.167 1.010 1.080
1.080
1.812 1.565 1.720
1.630
1.545 1.240 1.410
1.380
1.520 1.337
—
—
1.340 1.141 1.300
1.280
7.305 6.039 7.080
7.010
1.227 0.995 1.140
1.130
1.580 1.255 1.500
1.480
1.694 1.342 1.550
1.530
1.258 1.080 1.190
1.190
1.634 1.253 1.560
1.540
1.050 0.883 1.050
1.040
SPAC
0.690 0.605 0.685
0.680
0.670 0.565 0.615
0.605
0.490 0.390 0.440
0.435
CODE
COUNTER
CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
3867
5011
0083
9008
0041
7160
9075
0118
5005
0097
0008
MPI
MSNIAGA
NOTION
OMESTI
PANPAGE
PENTA
THETA
TRIVE
UNISEM
VITROX
WILLOW
6.740
1.000
0.390
0.510
0.300
0.820
0.305
0.060
2.160
2.880
0.710
0.120
-0.010
UNCH
0.010
UNCH
0.025
-0.005
UNCH
0.040
0.040
0.010
142
51.9
150.6
67.5
41.2
5523.6
339.2
810.5
1446
62.4
38
3.211
2.180
0.678
0.784
0.350
0.213
0.000
0.070
0.871
1.148
0.672
11.80
—
—
—
—
12.13
—
—
14.17
15.09
10.19
2.97
—
—
—
—
—
—
—
3.24
0.87
2.82
1,414.6
60.4
105.5
197.9
72.4
109.3
32.7
59.9
1,585.1
672.2
176.1
6947
6645
6807
5078
5031
6742
DIGI
LITRAK
PUNCAK
SILKHLD
TIMECOM
YTLPOWR
5.730
5.140
2.710
0.480
6.560
1.520
0.180 10607.3
-0.010
240.8
0.060
595.1
-0.010
130.6
0.030
278.6
UNCH
4256
4.873
4.200
3.375
0.385
3.903
1.947
22.39
18.12
—
—
7.97
11.73
4.43
4.86
—
—
0.85
6.58
44,550.8
2,681.3
1,132.8
336.7
3,775.9
11,363.9
5108
ICAP
2.280
-0.020
32.1
2.360
30.44
—
319.2
0800EA
0822EA
0823EA
0820EA
0825EA
0821EA
0824EA
ABFMY1
CIMBA40
CIMBC50
FBMKLCI-EA
METFSID
MYETFDJ
MYETFID
1.040
1.640
1.365
1.645
0.980
1.100
1.000
—
—
0.015
0.035
UNCH
0.010
0.008
—
—
45
3
2
12
18
—
—
1.035
0.000
0.000
1.168
0.000
—
—
—
—
—
—
—
5.46
3.82
—
1.73
—
3.00
2.25
715.4
2.2
18.6
2.8
21.6
277.1
21.6
4952
5116
5269
5120
5127
5130
5106
5180
5121
5227
5235SS
5123
5212
5176
5111
5110
5109
AHP
ALAQAR
ALSREIT
AMFIRST
ARREIT
ATRIUM
AXREIT
CMMT
HEKTAR
IGBREIT
KLCC
MQREIT
PAVREIT
SUNREIT
TWRREIT
UOAREIT
YTLREIT
1.010
1.360
1.000
0.790
0.840
1.080
1.650
1.390
1.510
1.300
7.040
1.140
1.500
1.540
1.190
1.540
1.040
0.010
UNCH
UNCH
UNCH
-0.005
UNCH
-0.030
-0.020
—
0.030
0.040
UNCH
0.020
0.010
UNCH
-0.010
UNCH
9.8
12
1964.8
45.3
33.9
0.5
248.7
215.8
—
407
68.4
154
804.6
2575.5
5
39.4
579.4
1.000
1.330
0.000
1.019
1.030
0.000
3.340
1.427
—
1.216
5.970
1.180
1.300
1.264
1.509
0.000
1.033
39.15
13.10
—
15.64
4.40
7.78
13.64
11.21
11.77
13.27
13.22
10.64
8.73
8.32
7.19
13.21
14.50
7.13
5.66
—
7.00
7.73
8.61
5.32
6.47
6.95
6.44
4.78
7.35
5.47
5.67
5.38
7.18
7.66
101.0
946.9
580.0
542.3
481.5
131.5
1,807.6
2,814.5
605.0
4,505.3
12,709.5
754.0
4,526.8
4,527.7
333.8
651.2
1,377.4
CLIQ
REACH
SONA
0.685
0.615
0.440
Unch
0.005
0.005
126
1941.4
8684.5
0.675
0.000
0.440
—
—
—
—
—
—
432.2
785.9
620.7
CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
0.000
0.128
0.315
0.149
0.000
0.082
0.000
0.140
0.214
0.305
0.196
0.146
0.180
0.122
0.080
0.000
0.222
0.470
—
72.34
—
36.05
—
11.02
—
12.25
—
—
25.61
—
—
13.38
68.42
15.56
16.94
—
—
35.42
1.10
—
0.37
—
—
—
0.66
—
—
4.76
—
—
1.67
—
—
—
—
—
—
59.8
34.6
168.3
51.9
70.9
36.0
154.4
30.0
22.4
120.1
36.3
36.3
80.3
19.6
80.1
25.5
88.9
42.0
29.1
5234
5256
5241
Ace Market
YEAR
HIGH
YEAR
LOW
DAY
HIGH
INDUSTRIAL PRODUCTS
0.784 0.208 0.690
0.150 0.070 0.080
0.590 0.252 0.475
0.320 0.135 0.240
0.370 0.145 0.350
0.093 0.040 0.045
0.530 0.243 0.505
0.170 0.070 0.090
0.515 0.110 0.165
0.235 0.085 0.105
0.275 0.120 0.150
0.180 0.070 0.130
0.435 0.235 0.360
0.180 0.105 0.130
0.115 0.055 0.070
0.180 0.085 0.105
0.315 0.120 0.160
0.415 0.145 0.200
0.250 0.150
—
TECHNOLOGY
0.590 0.360 0.590
0.290 0.130 0.160
1.600 0.300 0.355
0.015 0.005
—
1.060 0.800 0.880
0.365 0.165 0.220
0.120 0.015 0.055
0.150 0.055 0.060
0.145 0.050 0.065
0.142 0.060 0.080
0.430 0.190 0.265
0.115 0.045 0.050
0.260 0.110 0.170
0.070 0.030 0.040
0.175 0.085 0.105
0.155 0.069 0.105
1.854 0.372 0.965
0.095 0.045 0.060
0.230 0.085 0.160
0.210 0.100 0.210
0.380 0.165 0.210
0.705 0.443 0.680
0.565 0.120 0.400
0.670 0.180 0.245
0.085 0.040 0.050
0.415 0.100 0.165
0.265 0.105 0.115
0.160 0.050
—
0.660 0.360 0.535
1.950 0.500 1.100
0.469 0.290 0.370
0.115 0.070
—
0.877 0.368 0.695
0.380 0.175 0.190
0.365 0.175 0.265
0.265 0.075 0.080
0.906 0.606
—
0.090 0.025 0.040
0.135 0.055 0.070
0.250 0.095 0.125
0.420 0.120 0.205
1.307 0.488 0.825
0.454 0.258 0.395
0.060 0.030 0.045
0.430 0.100 0.255
0.183 0.075 0.085
0.530 0.288 0.450
0.165 0.030 0.065
0.660 0.395 0.460
0.930 0.170 0.300
0.175 0.065 0.110
0.388 0.163 0.345
0.210 0.090
—
0.397 0.104 0.235
0.260 0.100 0.110
0.160 0.080 0.115
0.425 0.140 0.170
0.460 0.065 0.075
0.425 0.055 0.215
0.490 0.110 0.155
0.592 0.451 0.540
TRADING SERVICES
0.280 0.180
—
0.200 0.095 0.120
0.260 0.050 0.060
0.344 0.186
—
0.335 0.205
—
0.705 0.350 0.420
0.380 0.280
—
0.250 0.100 0.205
0.240 0.150
—
0.285 0.120 0.190
0.400 0.270
—
0.330 0.136 0.215
0.055 0.005 0.005
0.240 0.130 0.185
0.900 0.575 0.640
1.220 0.480
—
2.670 1.105 2.000
0.310 0.192 0.245
0.485 0.325 0.380
1.320 0.450 1.320
0.235 0.100
—
0.055 0.030 0.040
0.125 0.045 0.125
FINANCE
0.680 0.390 0.500
DAY
LOW
CODE
COUNTER
0.680
0.080
0.465
0.240
0.325
0.045
0.485
0.085
0.155
0.095
0.135
0.115
0.350
0.125
0.065
0.105
0.160
0.185
—
0105
0072
0163
0102
0100
0109
0175
0160
0162
0024
0025
0070
0049
0038
0133
0001
0028
0055
0084
ASIAPLY
AT
CAREPLS
CONNECT
ESCERAM
FLONIC
HHGROUP
HHHCORP
IJACOBS
JAG
LNGRES
MQTECH
OCNCASH
PTB
SANICHI
SCOMNET
SCOPE
SERSOL
TECFAST
0.680
0.080
0.465
0.240
0.345
0.045
0.500
0.090
0.165
0.105
0.150
0.130
0.360
0.130
0.070
0.105
0.160
0.195
0.170
Unch
Unch
-0.005
Unch
0.015
Unch
0.020
Unch
0.010
0.010
Unch
0.015
0.010
-0.005
0.005
0.005
Unch
0.010
—
117.2
3150.2
462
7704.7
9688.1
220
7230.7
93.5
223.9
3379.6
220.8
15239
911.5
301
3806.2
607
20
1125
—
0.545
0.160
0.300
—
0.870
0.190
0.050
0.055
0.060
0.065
0.260
0.050
0.160
0.040
0.105
0.100
0.945
0.060
0.145
0.185
0.200
0.675
0.380
0.235
0.040
0.160
0.115
—
0.535
1.100
0.355
—
0.675
0.175
0.255
0.080
—
0.035
0.065
0.120
0.205
0.795
0.360
0.040
0.250
0.080
0.435
0.060
0.450
0.295
0.090
0.340
—
0.230
0.105
0.105
0.165
0.065
0.200
0.150
0.530
0181
0119
0068
0039
0098
0079
0022
0152
0131
0154
0107
0116
0104
0045
0074
0174
0023
0034
0094
0069
0010
0146
0127
0111
0036
0176
0017
0075
0155
0126
0112
0085
0113
0103
0156
0092
0108
0020
0096
0026
0018
0035
0040
0005
0123
0007
0106
0135
0178
0117
0169
0093
0129
0050
0132
0060
0120
0066
0141
0086
0009
AEMULUS
APPASIA
ASDION
ASIAEP
BAHVEST
CWORKS
CYBERT
DGB
DGSB
EAH
EDUSPEC
FOCUS
GENETEC
GNB
GOCEAN
IDMENSN
IFCAMSC
INGENCO
INIX
INSTACO
IRIS
JFTECH
JHM
K1
KGROUP
KRONO
M3TECH
MEXTER
MGRC
MICROLN
MIKROMB
MLAB
MMSV
MNC
MPAY
MTOUCHE
N2N
NETX
NEXGRAM
NOVAMSC
OMEDIA
OPCOM
OPENSYS
PALETTE
PRIVA
PUC
REXIT
SCN
SEDANIA
SMRT
SMTRACK
SOLUTN
SRIDGE
SYSTECH
TDEX
TMS
VIS
VSOLAR
WINTONI
YGL
YTLE
0.580
0.160
0.320
0.010
0.875
0.200
0.055
0.060
0.065
0.075
0.260
0.050
0.165
0.040
0.105
0.100
0.950
0.060
0.155
0.210
0.205
0.675
0.390
0.240
0.050
0.165
0.115
0.070
0.535
1.100
0.370
0.085
0.685
0.190
0.260
0.080
0.690
0.035
0.070
0.125
0.205
0.795
0.395
0.040
0.250
0.085
0.450
0.060
0.455
0.295
0.105
0.340
0.120
0.235
0.105
0.115
0.165
0.070
0.210
0.155
0.530
0.025
Unch
-0.055
—
0.005
0.030
Unch
0.005
0.005
0.015
Unch
-0.005
0.005
Unch
-0.005
Unch
0.010
Unch
0.010
0.035
0.005
0.005
0.010
0.010
0.005
0.010
0.005
—
-0.015
0.040
0.010
—
0.015
0.005
0.005
Unch
—
Unch
Unch
0.005
0.010
0.020
0.035
-0.005
0.005
Unch
0.010
Unch
-0.005
0.005
0.015
0.005
—
0.010
-0.005
0.005
Unch
Unch
Unch
0.005
Unch
26946.6
38
22.1
—
74.5
65
1942.8
1135
910
27936.2
249
500
7692.6
50
51
2094.2
19344.2
703.8
221
41085
7598.8
25
723.8
4939.4
224
585.4
33.6
—
5
2.2
1684.9
—
1053.3
303.3
8608.3
20
—
222
1227.2
861.1
30
2265.8
4440.1
832
6004.7
2339.8
306.5
1151.1
285.2
1295.2
3337.3
739.5
—
1913.2
165.1
59144.2
494
3323.2
2631.8
23.1
326.7
0.000
—
0.111
—
0.460
—
—
—
1.193
—
0.185
—
0.070
5.79
0.216
—
0.073 16.25
0.208
—
0.126 34.67
0.075
—
0.130
6.82
0.060
3.42
0.169 105.00
0.123
—
0.085 14.35
0.079
—
0.146
—
0.262
—
0.275
—
0.000 27.89
0.000 19.70
0.327 10.13
0.066
—
0.000
2.74
0.185
—
—
—
0.420 13.86
0.000 26.25
0.260 12.76
—
—
0.203
9.57
0.335 24.36
0.115 162.50
0.187
—
— 34.67
0.070
—
0.088 25.93
0.070 56.82
0.000
—
0.745 20.60
0.170 12.87
0.047
—
0.100 21.74
0.221 11.18
0.402 15.31
0.000
—
0.000 14.68
0.224 327.78
0.100
—
0.322 13.44
—
—
0.105 27.33
0.121
—
0.066
—
0.585 12.89
0.000
—
0.060
—
0.000
—
0.630 19.92
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1.05
—
—
—
—
1.11
—
2.08
—
—
—
—
—
2.73
1.35
—
2.92
—
—
—
1.45
—
—
—
—
2.52
2.53
—
1.00
—
3.33
—
—
—
—
2.94
—
2.55
—
—
—
—
—
—
7.55
254.5
45.0
37.2
8.1
373.6
24.2
5.5
29.3
88.1
111.8
219.9
35.3
58.0
11.6
27.7
49.5
531.0
57.2
21.6
273.2
418.3
85.1
48.0
103.9
29.0
39.1
21.3
13.8
50.3
167.4
104.3
15.9
111.7
17.9
184.7
18.5
303.7
21.9
131.8
62.2
43.8
128.2
88.3
11.6
139.6
90.6
85.2
12.0
91.0
76.8
29.7
67.9
14.5
74.6
39.4
57.1
18.3
21.2
107.7
30.0
715.5
—
0.110
0.050
—
—
0.405
—
0.180
—
0.185
—
0.215
0.005
0.180
0.610
—
1.990
0.235
0.380
1.260
—
0.035
0.095
0122
0048
0150
0011
0157
0081
0147
0167
0153
0177
0006
0171
0110
0080
0032
0173
0158
0161
0137
0089
0145
0140
0165
AIM
ANCOMLB
ASIABIO
BTECH
FOCUSP
IDEAL
INNITY
MCLEAN
OVERSEA
PASUKGB
PINEAPP
PLABS
RA
RAYA
REDTONE
REV
SCC
SCH
STEMLFE
TEXCYCL
TFP
UTOPIA
XOX
0.265
0.120
0.060
0.260
0.260
0.420
0.300
0.180
0.155
0.190
0.280
0.215
0.005
0.180
0.610
0.540
2.000
0.245
0.380
1.310
0.150
0.035
0.125
—
—
Unch
146
0.005 3390.9
—
—
—
—
0.010
250
—
—
0.005
81.1
—
—
Unch 1244.1
—
—
Unch
879.5
Unch
360.1
-0.010
188
-0.020
413.7
—
—
0.120
0.5
Unch 2371.1
Unch
80
0.040
925
—
—
Unch
455
0.035 69966.9
— 132.50
0.190
—
0.103
—
— 16.05
— 52.00
0.078 14.74
— 65.22
0.000
—
—
—
0.165
—
—
—
0.150 12.22
0.050
—
0.000
—
0.695 32.45
—
—
1.000 12.69
0.000 12.13
0.399
—
0.466 41.46
—
—
0.077
—
0.164 50.00
—
—
—
2.42
3.85
—
—
—
3.87
—
—
2.33
—
—
—
—
2.50
6.12
7.89
0.19
—
—
—
70.5
56.8
52.0
65.5
42.9
78.0
41.5
21.1
38.0
56.1
13.6
44.5
4.8
23.5
461.9
72.7
85.5
101.0
94.1
223.7
30.8
34.6
41.5
0.480
0053
OSKVI
0.490
0.536
4.08
96.5
0.015
54.4
—
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE FI N AN C I AL DAI LY
36 Markets
B U R S A M A L AY S I A E Q U I T Y D E R I VAT I E S
Bursa Malaysia Equity Derivatives
YEAR
HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE
Main Market & Ace Market Warrants
1.640
0.425
0.105
0.120
0.185
0.090
0.395
0.145
0.270
0.210
0.145
0.225
0.155
0.295
0.185
0.430
0.240
0.180
1.840
0.420
0.185
0.500
0.313
0.240
1.570
0.950
0.530
0.720
0.065
0.290
0.060
0.065
0.300
0.150
0.050
0.405
0.300
0.235
0.060
0.045
0.155
0.185
0.060
0.215
0.090
1.650
0.130
0.405
0.055
0.635
0.140
0.240
0.185
0.780
0.445
1.900
0.060
0.140
0.120
0.255
0.150
0.270
0.055
0.145
0.160
0.160
0.065
0.065
0.150
0.375
1.580
0.470
0.030
0.580
0.025
0.100
0.140
0.190
0.155
0.240
0.085
0.620
0.115
0.130
0.940
0.340
2.484
0.070
0.400
0.155
0.130
0.150
0.150
2.690
0.155
0.195
0.095
0.065
0.710
0.320
0.115
0.225
0.240
0.110
0.165
0.130
1.050
0.710
0.270
1.000
0.170
0.305
0.315
1.260
0.225
0.300
0.185
0.250
0.460
0.260
1.820
0.200
0.350
1.200
0.280
1.220
0.160
0.055
0.165
0.200
0.050
0.660
0.560
0.290
0.125
0.555
0.155
0.100
0.105
0.270
0.075
0.415
0.280
0.190
0.145
0.245
0.200
0.195
0.150
0.380
0.400
0.280
0.385
1.820
0.060
0.090
0.060
0.135
0.105
0.520
0.290
1.020
0.150
0.015
0.030
0.095
0.010
0.150
0.040
0.020
0.070
0.035
0.075
0.050
0.120
0.160
0.025
0.030
0.120
0.487
0.135
0.015
0.260
0.065
0.090
0.550
0.280
0.260
0.300
0.005
0.150
0.025
0.025
0.240
0.005
0.015
0.145
0.100
0.205
0.020
0.015
0.050
0.005
0.010
0.145
0.005
0.390
0.050
0.150
0.015
0.175
0.020
0.030
0.110
0.217
0.235
0.500
0.040
0.010
0.005
0.020
0.005
0.075
0.015
0.055
0.035
0.075
0.025
0.030
0.030
0.150
0.800
0.280
0.015
0.160
0.005
0.025
0.035
0.100
0.150
0.130
0.015
0.220
0.035
0.055
0.495
0.205
0.705
0.015
0.160
0.055
0.045
0.065
0.070
1.300
0.070
0.030
0.020
0.020
0.085
0.085
0.005
0.180
0.135
0.080
0.100
0.005
0.205
0.060
0.045
0.620
0.065
0.055
0.045
0.690
0.025
0.075
0.040
0.115
0.200
0.110
0.480
0.045
0.205
0.360
0.025
0.600
0.015
0.015
0.030
0.105
0.015
0.300
0.130
0.160
0.020
0.195
0.015
0.010
0.030
0.045
0.015
0.110
0.045
0.020
0.040
0.035
0.080
0.020
0.005
0.025
0.100
0.130
0.040
0.650
0.015
0.035
0.015
0.030
0.080
0.360
0.110
1.360
0.195
0.040
0.120
0.185
0.020
0.175
0.060
0.070
0.075
0.055
0.120
0.075
0.295
0.170
0.045
0.140
0.155
1.500
0.165
0.025
0.430
0.085
0.125
0.750
0.750
0.430
0.420
0.030
0.200
0.035
0.040
0.280
0.005
0.020
0.170
0.140
0.230
0.045
0.020
0.065
0.005
0.025
0.210
0.005
0.675
0.055
0.190
0.020
0.250
0.060
0.100
0.115
0.470
0.385
0.800
0.040
0.035
0.025
0.115
0.005
0.120
0.025
0.090
0.050
0.110
0.035
0.035
0.040
0.195
0.995
0.320
0.020
0.250
0.015
0.050
0.065
0.135
0.155
0.200
0.025
0.245
0.065
0.100
0.540
0.280
1.260
0.015
0.200
0.080
0.055
0.075
0.100
1.730
0.105
0.050
0.030
0.025
0.150
0.135
0.025
0.200
0.180
0.090
0.130
0.005
0.800
0.165
0.090
0.710
0.080
0.085
0.080
0.900
0.040
0.105
0.060
0.195
0.220
0.140
0.720
0.105
0.260
0.800
0.050
0.750
0.040
0.020
0.095
0.145
0.025
0.380
0.485
0.225
0.030
0.240
0.025
0.050
0.085
0.220
0.050
0.140
0.105
0.065
0.090
0.040
0.085
0.025
0.025
0.075
0.170
0.150
0.125
0.670
0.015
0.055
0.020
0.035
0.085
0.405
0.150
1.340
0.185
0.035
0.090
0.150
0.020
0.170
0.050
0.065
0.075
0.050
0.110
0.075
0.225
0.170
0.035
0.130
0.155
1.480
0.150
0.025
0.315
0.080
0.120
0.710
0.750
0.360
0.420
0.015
0.190
0.030
0.035
0.275
0.005
0.020
0.165
0.130
0.230
0.045
0.020
0.060
0.005
0.025
0.185
0.005
0.650
0.050
0.175
0.020
0.250
0.055
0.085
0.115
0.425
0.370
0.750
0.040
0.030
0.025
0.105
0.005
0.110
0.025
0.085
0.040
0.110
0.030
0.030
0.030
0.160
0.990
0.320
0.020
0.250
0.015
0.045
0.050
0.125
0.150
0.190
0.020
0.235
0.065
0.095
0.530
0.270
1.240
0.015
0.200
0.080
0.055
0.075
0.095
1.680
0.090
0.045
0.025
0.025
0.150
0.120
0.025
0.200
0.180
0.090
0.125
0.005
0.775
0.165
0.080
0.700
0.080
0.080
0.075
0.885
0.035
0.105
0.055
0.180
0.215
0.130
0.720
0.095
0.255
0.740
0.025
0.740
0.040
0.020
0.090
0.135
0.020
0.355
0.475
0.225
0.030
0.240
0.020
0.050
0.075
0.210
0.050
0.125
0.105
0.065
0.090
0.040
0.085
0.025
0.025
0.065
0.165
0.140
0.115
0.655
0.015
0.050
0.020
0.035
0.080
0.390
0.145
0166WB
3379WB
0069WB
0069WC
1961C7
5249CF
8834WB
7183WA
0010WB
5175WA
0024WA
9083WB
8923WA
7167WA
4383CE
0111WB
5247CH
5247CJ
7216WA
3565WE
8303WA
5171WA
7164WA
7164WB
5038WA
2003WC
8494WA
5789WA
3581WB
7126WA
5068WA
5068WB
7617WB
8583CY
8583CZ
8583WB
8583WC
5264CJ
6012CQ
5189WA
115511
115512
115513
115515
5077CT
1171WA
5040WB
1694WB
0075WA
3662WB
5186CX
5026WA
3816CZ
9571WC
9571WD
6114WB
0085WA
2194CW
2194CY
1651C1
1651C3
1651WA
5150WA
0138CK
0138CL
0138CM
0096WA
0096WC
9008WA
9008WB
6661WC
5053WC
0005WA
5125WA
5657CO
1295C4
1295C5
1295C6
1295C7
9997WB
5146WA
8311WC
6033CK
6033CM
1945WC
8869CM
8869WC
4634CT
7168WA
7145WA
0007WA
6807CF
6807CG
6807WB
7498WB
5256WA
0133WB
0133WC
7073WB
0055WA
4197C2
521816
521817
521818
521819
5218C9
7155WA
0117WA
5241WA
7103WA
7143WA
1201WA
1201WB
5211WA
7106C1
7106C2
7106CZ
7082WB
1538WB
7071WB
5191WA
534720
534723
7252WA
7228WA
7034WA
9075WA
7079WB
4863C6
0101WB
0060WA
8397WC
7113CU
7113CV
5054WB
5401WA
514812
514814
514817
514818
5243CY
7091WA
5005CE
5005CF
5005CJ
0120WA
7240WA
0066WA
9679CT
9679WC
9679WD
9679WE
0141WA
7245WA
5156WB
5156WC
0095WA
5155WA
4677C1
6742WB
2283WA
YEAR
HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE
0.070
0.090
0.110
0.135
0.150
0.065
0.310
0.315
0.435
0.180
0.100
0.040
0.145
0.225
0.130
0.085
0.205
0.080
0.100
0.145
0.645
0.310
0.155
0.080
0.050
0.225
2.550
0.200
0.860
0.285
0.330
0.145
0.860
0.038
0.237
0.720
0.450
0.450
0.185
0.085
0.165
0.280
1.890
0.405
0.180
0.035
0.185
0.360
0.675
0.125
0.170
0.350
0.195
0.070
0.065
0.110
0.300
0.200
0.085
0.345
0.550
0.071
0.086
0.215
0.120
0.850
0.325
0.620
0.603
0.680
0.195
0.200
0.545
0.750
0.285
0.240
0.940
0.525
0.185
0.435
0.120
0.195
0.340
0.320
0.415
0.135
0.940
0.150
0.215
0.735
0.690
0.405
1.060
0.180
0.705
1.320
0.410
0.380
0.635
0.575
0.575
0.595
0.770
0.680
0.920
0.590
0.640
0.625
1.100
0.885
0.725
0.270
0.295
0.275
0.070
0.200
0.150
0.125
0.335
0.040
0.065
0.815
0.235
0.910
0.110
2.880
0.140
0.255
0.210
2.950
0.235
0.055
0.260
0.120
0.125
0.290
0.310
0.250
3.900
0.485
1.030
0.350
0.975
0.370
0.865
0.715
1.090
1.490
2.130
0.020
0.555
1.760
0.045
0.170
0.185
0.035
0.035
0.005
0.060
0.015
0.015
0.090
0.085
0.320
0.085
0.010
0.005
0.060
0.045
0.060
0.020
0.085
0.030
0.015
0.040
0.290
0.090
0.015
0.005
0.035
0.095
1.550
0.025
0.400
0.035
0.060
0.025
0.410
0.010
0.070
0.255
0.085
0.095
0.030
0.035
0.145
0.040
0.140
0.160
0.070
0.010
0.040
0.150
0.255
0.020
0.045
0.215
0.005
0.035
0.020
0.055
0.035
0.065
0.020
0.100
0.160
0.020
0.025
0.080
0.015
0.305
0.105
0.180
0.300
0.140
0.060
0.125
0.100
0.420
0.140
0.130
0.685
0.450
0.145
0.060
0.035
0.060
0.075
0.055
0.120
0.045
0.540
0.010
0.010
0.160
0.305
0.250
0.595
0.125
0.595
0.815
0.220
0.100
0.410
0.050
0.040
0.085
0.200
0.160
0.370
0.100
0.075
0.085
0.480
0.355
0.295
0.195
0.255
0.005
0.005
0.010
0.025
0.035
0.105
0.015
0.030
0.480
0.135
0.450
0.010
1.500
0.010
0.220
0.165
0.530
0.125
0.025
0.070
0.005
0.010
0.050
0.200
0.145
1.960
0.195
0.625
0.030
0.370
0.160
0.365
0.165
0.665
0.975
1.410
0.005
0.170
0.285
0.005
0.050
0.170
0.050
0.035
0.015
0.095
0.055
0.025
0.235
0.220
0.350
0.095
0.015
0.010
0.085
0.060
0.105
0.025
0.100
0.040
0.020
0.065
0.355
0.140
0.015
0.010
0.045
0.125
1.600
0.030
0.475
0.150
0.155
0.035
0.525
0.015
0.160
0.390
0.120
0.135
0.035
0.055
0.150
0.160
0.175
0.315
0.130
0.035
0.055
0.200
0.425
0.050
0.065
0.235
0.010
0.055
0.035
0.110
0.300
0.200
0.085
0.345
0.190
0.035
0.045
0.120
0.045
0.425
0.150
0.270
0.400
0.315
0.100
0.185
0.230
0.605
0.215
0.175
0.800
0.525
0.185
0.135
0.060
0.075
0.130
0.190
0.325
0.085
0.780
0.025
0.015
0.420
0.405
0.330
0.675
0.130
0.595
0.895
0.245
0.115
0.455
0.300
0.285
0.305
0.485
0.385
0.490
0.240
0.245
0.330
0.760
0.590
0.435
0.250
0.295
0.010
0.025
0.030
0.105
0.090
0.145
0.025
0.030
0.500
0.165
0.470
0.045
2.360
0.030
0.255
0.190
0.935
0.235
0.030
0.090
0.005
0.015
0.280
0.280
0.230
3.900
0.425
1.030
0.035
0.480
0.275
0.545
0.340
1.030
1.450
1.970
0.010
0.225
0.855
0.035
0.075
0.185
0.045
0.035
0.005
0.085
0.055
0.025
0.215
0.200
0.335
0.090
0.015
0.005
0.085
0.060
0.105
0.025
0.100
0.040
0.020
0.055
0.350
0.135
0.015
0.010
0.045
0.120
1.600
0.030
0.415
0.140
0.155
0.035
0.475
0.015
0.155
0.380
0.120
0.130
0.030
0.050
0.145
0.160
0.175
0.295
0.125
0.030
0.055
0.190
0.400
0.050
0.060
0.220
0.005
0.055
0.035
0.105
0.280
0.190
0.075
0.330
0.190
0.030
0.035
0.110
0.045
0.410
0.150
0.270
0.390
0.305
0.100
0.185
0.190
0.580
0.195
0.165
0.795
0.515
0.180
0.120
0.055
0.065
0.120
0.175
0.305
0.085
0.755
0.025
0.015
0.375
0.385
0.330
0.645
0.125
0.595
0.890
0.240
0.100
0.440
0.280
0.260
0.285
0.475
0.370
0.455
0.235
0.230
0.310
0.745
0.560
0.405
0.250
0.290
0.010
0.020
0.025
0.100
0.080
0.135
0.020
0.030
0.500
0.155
0.470
0.045
2.240
0.020
0.255
0.185
0.880
0.215
0.030
0.080
0.005
0.015
0.270
0.280
0.205
3.850
0.425
0.950
0.035
0.435
0.265
0.535
0.265
1.010
1.360
1.950
0.005
0.225
0.840
0.035
0.075
0.170
5238WA
6599CE
5185CS
7315WB
509922
509923
509924
509925
509926
5099HB
1015CV
0159WA
52814
5210C3
5210C7
0150WA
6399CT
0072WA
6888C2
6888C3
5258WA
6998WA
5248CH
3395CU
3395CY
3395WB
5196WA
6025WA
7036WB
7188WA
7188WB
1818C8
7174WA
5229WA
0163WA
7076WA
5195WA
5195WB
1023C6
1023C7
1023C8
2852CJ
5071WA
2127WA
0102WA
5214WA
0051WA
7212WA
7277WA
6947C3
0029WB
7169WA
161911
161914
161915
161916
5216CB
5216CD
5216CE
5216CF
3417WB
0154WB
0154WC
3557WC
8206CB
8206WA
0107WA
8877WB
5056WA
7249WA
7047WB
56010
0650C1
65010
65011
65012
65013
65014
65018
0650C2
0650C3
0650C4
0650C5
0650C6
0650C7
0650C8
0650C9
0650CU
0650CX
0650CZ
0650H1
65019
0650H2
65021
65023
0650H3
0650H4
0650H5
0650H6
0650HG
0650HK
0650HO
0650HP
0650HQ
0650HT
0650HU
0650HV
0650HW
0650HX
0650HY
0650HZ
0650JA
0650JB
5222C2
5222C4
5222C5
5222C6
5222C7
9318WB
0109WB
0116WC
7210WA
539821
3611WA
0078CB
2291WA
318222
318225
318226
3182WA
1147WA
7096WA
7022CF
1503CA
7253WA
3034CK
3034CM
3034CN
3034WA
5168CN
5095WB
5072WA
5169WA
7213WB
65110
65111
65112
65113
65114
7013WA
4251WA
0023WA
3336CW
0166CH
0166CJ
WARRANTS
AAX-WA
AEON-CE
AFFIN-CS
AHB-WB
AIRASIAC22
AIRASIAC23
AIRASIAC24
AIRASIAC25
AIRASIAC26
AIRASIA-HB
AMBANK-CV
AMEDIA-WA
APPLE-C14
ARMADA-C3
ARMADA-C7
ASIABIO-WA
ASTRO-CT
AT-WA
AXIATA-C2
AXIATA-C3
BIMB-WA
BINTAI-WA
BJAUTO-CH
BJCORP-CU
BJCORP-CY
BJCORP-WB
BJFOOD-WA
BJMEDIA-WA
BORNOIL-WB
BTM-WA
BTM-WB
BURSA-C8
CAB-WA
CAP-WA
CAREPLS-WA
CBIP-WA
CENSOF-WA
CENSOF-WB
CIMB-C6
CIMB-C7
CIMB-C8
CMSB-CJ
COASTAL-WA
COMFORT-WA
CONNECT-WA
CSL-WA
CUSCAPI-WA
DESTINI-WA
DIALOG-WA
DIGI-C3
DIGISTA-WB
DOMINAN-WA
DRBHCOMC11
DRBHCOMC14
DRBHCOMC15
DRBHCOMC16
DSONIC-CB
DSONIC-CD
DSONIC-CE
DSONIC-CF
E&O-WB
EAH-WB
EAH-WC
ECOFIRS-WC
ECOWLD-CB
ECOWLD-WA
EDUSPEC-WA
EKOVEST-WB
ENGTEX-WA
EWEIN-WA
FAJAR-WB
FB-C10
FBMKLCI-C1
FBMKLCI-C10
FBMKLCI-C11
FBMKLCI-C12
FBMKLCI-C13
FBMKLCI-C14
FBMKLCI-C18
FBMKLCI-C2
FBMKLCI-C3
FBMKLCI-C4
FBMKLCI-C5
FBMKLCI-C6
FBMKLCI-C7
FBMKLCI-C8
FBMKLCI-C9
FBMKLCI-CU
FBMKLCI-CX
FBMKLCI-CZ
FBMKLCI-H1
FBMKLCI-H19
FBMKLCI-H2
FBMKLCI-H21
FBMKLCI-H23
FBMKLCI-H3
FBMKLCI-H4
FBMKLCI-H5
FBMKLCI-H6
FBMKLCI-HG
FBMKLCI-HK
FBMKLCI-HO
FBMKLCI-HP
FBMKLCI-HQ
FBMKLCI-HT
FBMKLCI-HU
FBMKLCI-HV
FBMKLCI-HW
FBMKLCI-HX
FBMKLCI-HY
FBMKLCI-HZ
FBMKLCI-JA
FBMKLCI-JB
FGV-C2
FGV-C4
FGV-C5
FGV-C6
FGV-C7
FITTERS-WB
FLONIC-WB
FOCUS-WC
FREIGHT-WA
GAMUDA-C21
GBH-WA
GDEX-CB
GENP-WA
GENTINGC22
GENTINGC25
GENTINGC26
GENTING-WA
GOB-WA
GPA-WA
GTRONIC-CF
GUOCO-CA
HANDAL-WA
HAPSENG-CK
HAPSENG-CM
HAPSENG-CN
HAPSENG-WA
HARTA-CN
HEVEA-WB
HIAPTEK-WA
HOHUP-WA
HOVID-WB
HSI-C10
HSI-C11
HSI-C12
HSI-C13
HSI-C14
HUBLINE-WA
IBHD-WA
IFCAMSC-WA
IJM-CW
INARI-CH
INARI-CJ
CLOSE
(RM)
+/(RM)
0.050
0.035
0.005
0.095
0.055
0.025
0.235
0.215
0.350
0.090
0.015
0.010
0.085
0.060
0.105
0.025
0.100
0.040
0.020
0.065
0.355
0.140
0.015
0.010
0.045
0.120
1.600
0.030
0.435
0.145
0.155
0.035
0.525
0.015
0.155
0.390
0.120
0.135
0.035
0.055
0.150
0.160
0.175
0.300
0.130
0.035
0.055
0.195
0.420
0.050
0.060
0.230
0.005
0.055
0.035
0.105
0.285
0.200
0.080
0.340
0.190
0.035
0.040
0.120
0.045
0.415
0.150
0.270
0.395
0.315
0.100
0.185
0.225
0.595
0.215
0.175
0.800
0.525
0.180
0.135
0.060
0.070
0.130
0.190
0.325
0.085
0.775
0.025
0.015
0.415
0.385
0.330
0.645
0.125
0.595
0.890
0.240
0.110
0.445
0.285
0.260
0.290
0.475
0.370
0.455
0.235
0.235
0.315
0.750
0.560
0.410
0.250
0.295
0.010
0.020
0.025
0.100
0.080
0.145
0.025
0.030
0.500
0.165
0.470
0.045
2.240
0.020
0.255
0.185
0.920
0.225
0.030
0.080
0.005
0.015
0.275
0.280
0.210
3.900
0.425
1.030
0.035
0.480
0.270
0.535
0.275
1.030
1.450
1.970
0.005
0.225
0.840
0.035
0.075
0.170
0.005
-0.010
-0.015
0.005
-0.010
Unch
0.005
Unch
Unch
-0.010
Unch
Unch
Unch
0.005
Unch
0.005
Unch
Unch
0.005
0.020
0.005
Unch
-0.005
Unch
Unch
-0.005
-0.050
Unch
-0.040
Unch
Unch
-0.005
0.040
Unch
Unch
-0.010
Unch
Unch
Unch
0.005
0.005
0.010
0.015
0.010
Unch
0.010
0.005
-0.005
0.010
0.005
0.005
0.005
Unch
0.010
Unch
0.010
-0.010
0.015
0.005
Unch
-0.030
Unch
0.005
0.010
Unch
0.015
Unch
0.050
0.015
0.010
0.020
0.015
0.045
0.045
0.025
0.015
0.055
0.020
0.020
0.020
0.005
0.005
0.015
0.020
0.030
0.010
0.075
Unch
Unch
0.060
-0.040
-0.015
-0.080
-0.010
-0.050
-0.055
-0.020
-0.010
-0.045
-0.025
-0.035
-0.035
-0.035
-0.040
-0.055
-0.015
-0.025
-0.035
-0.025
-0.050
-0.045
0.010
0.005
0.005
-0.005
Unch
0.005
Unch
0.010
0.005
-0.005
0.020
0.010
0.020
-0.005
-0.120
-0.005
Unch
-0.010
0.050
0.015
Unch
-0.010
Unch
Unch
0.015
0.030
0.015
0.040
0.015
0.080
Unch
0.045
0.010
0.085
-0.055
0.165
0.150
0.160
-0.005
0.010
0.005
Unch
Unch
0.020
VOL PARENT
EXE
(‘000)
PRICE PRICE
1516
50
105
111
20
459.8
154
16916.8
70
21
500
230
30
40
20
4079.6
171.9
399.7
100
35
1044.1
2189.4
120
400
150
470
0.1
21.8
81.2
674.4
54.8
67.2
596.5
12206.7
218
17.6
22.3
120.1
10564.3
141
370
1.5
19.8
1678.5
450
9882.6
30
160
390.4
482.5
300
434.6
400.1
302
17773.9
595.1
2561.2
480.5
28700.8
2129.5
2
3361.4
3620.6
23.1
600
219.4
20
2
397.5
157
10
30
10335
1898
182
28863.7
1000
16
1545
763.8
3530.1
6344.8
333.8
3713.9
655.8
822.3
176.2
158.9
80
6486.2
508.7
38.1
6960.7
1903.4
10
20
377
15058.4
1040
10517.4
24523.1
331
459.8
93.6
168.3
185
9887.4
1472.3
140.6
149
785.3
785.2
277.4
0.2
170
173.5
731.9
11984.3
220.5
500.1
100
1
120
4
100
6.9
1.4
2.5
1085
382.2
14671.2
300
3950
50
142.5
96.3
0.1
92.5
57.9
3.3
2569.7
1.4
26
2087.8
140
3370.7
50
30
50
266.2
15
3403.5
30
155
550
0.200
2.700
2.350
0.185
1.270
1.270
1.270
1.270
1.270
1.270
4.590
0.025
487.21
0.940
0.940
0.060
2.890
0.080
5.970
5.970
4.060
0.255
1.930
0.375
0.375
0.375
2.200
0.440
0.570
0.300
0.300
7.940
1.070
0.130
0.465
2.040
0.270
0.270
4.490
4.490
4.490
5.180
1.930
0.815
0.240
0.125
0.145
0.600
1.650
5.730
0.200
1.140
1.410
1.410
1.410
1.410
1.560
1.560
1.560
1.560
1.570
0.075
0.075
0.275
1.370
1.370
0.260
0.935
1.140
0.710
0.430
406.39
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1,647
1.520
1.520
1.520
1.520
1.520
0.510
0.045
0.050
1.520
4.510
1.410
1.150
10.280
7.250
7.250
7.250
7.250
0.605
0.090
6.100
1.190
0.335
5.600
5.600
5.600
5.600
4.750
1.270
0.250
0.940
0.455
12,446
12,447
12,446
12,447
12,447
0.015
0.535
0.950
3.200
3.390
3.390
0.460
3.150
2.750
0.200
1.650
1.800
1.050
1.200
0.900
1.050
6.000
0.250
448.90
0.980
0.950
0.100
2.650
0.120
7.180
6.700
4.720
0.200
2.714
0.430
0.380
1.000
0.700
0.870
0.100
0.940
0.200
8.400
0.550
1.546
0.320
2.400
0.460
0.460
5.400
5.650
5.000
4.050
3.180
0.500
0.100
1.150
0.270
0.400
1.190
5.600
0.260
1.300
1.800
1.600
1.750
1.400
1.250
1.180
1.450
1.000
2.600
0.120
0.100
0.300
1.680
2.080
0.180
1.350
0.830
0.610
0.700
335.23
1,740
1,720
1,600
1,520
1,560
1,500
1,680
1,800
1,708
1,700
1,750
1,700
1,650
1,720
1,640
1,848
1,800
1,680
1,720
1,675
1,600
1,500
1,600
1,680
1,600
1,500
1,520
1,800
1,735
1,808
1,850
1,800
1,660
1,688
1,658
1,700
1,750
1,700
1,650
1,266
1,108
2.400
2.300
2.100
1.500
1.550
1.000
0.050
0.100
0.970
4.300
1.000
1.500
7.750
8.600
7.000
8.000
7.960
0.800
0.100
6.500
1.600
0.860
3.900
5.000
5.000
1.650
7.000
0.250
0.690
0.600
0.180
24,800
26,200
23,000
21,600
20,200
0.200
1.410
0.100
3.940
3.400
3.300
PR’M
(%)
155.00
20.56
17.66
59.46
38.58
46.65
10.43
14.80
12.20
-6.69
32.68
940
2.60
13.83
18.94
108.33
5.54
100.00
22.28
16.04
25.00
33.33
43.97
17.33
13.33
198.67
4.55
104.55
-6.14
261.67
18.33
8.44
0.47
1,100
2.15
36.76
114.81
120.37
23.78
30.73
24.72
-0.19
73.83
-1.84
-4.17
848.00
124.14
-0.83
-2.42
4.71
60.00
34.21
28.37
21.28
29.82
14.18
7.53
7.69
9.36
7.69
77.71
106.67
86.67
52.73
30.84
82.12
26.92
73.26
7.46
30.28
86.05
9.80
8.34
11.62
3.64
-0.30
6.82
3.73
9.62
10.89
8.82
6.02
8.02
5.81
4.65
6.45
8.95
13.74
9.71
7.01
13.70
9.64
4.94
-3.64
6.14
12.77
4.40
-4.28
-0.99
20.79
15.82
23.87
26.70
20.48
6.28
13.92
12.10
15.93
16.59
10.93
5.82
-0.40
-0.52
59.87
56.58
41.94
18.42
22.50
124.51
66.67
160.00
-3.29
8.51
4.26
38.26
-2.82
21.38
14.14
21.83
22.48
69.42
44.44
11.80
35.29
161.19
-0.89
6.79
4.29
-0.89
101.05
0.79
190.00
14.89
-1.10
103.12
112.48
92.23
84.02
76.53
1,267
205.61
-1.05
24.77
10.25
17.40
EXPIRY
DATE
08/06/2020
30/06/2016
31/12/2015
28/08/2019
29/04/2016
29/01/2016
31/05/2016
07/03/2016
18/07/2016
31/05/2016
31/03/2016
02/01/2018
29/04/2016
25/01/2016
07/03/2016
19/04/2024
29/02/2016
29/01/2019
29/01/2016
29/01/2016
04/12/2023
15/06/2020
10/03/2016
31/12/2015
07/03/2016
22/04/2022
08/08/2017
16/12/2016
28/02/2018
20/12/2019
23/10/2024
29/04/2016
08/02/2020
29/12/2016
09/08/2016
06/11/2019
18/07/2017
07/10/2019
30/12/2015
15/04/2016
18/07/2016
30/10/2015
18/07/2016
18/12/2015
17/09/2021
18/09/2017
24/04/2018
03/10/2016
10/02/2017
29/01/2016
04/04/2023
10/09/2020
15/12/2015
29/04/2016
29/01/2016
30/08/2016
25/01/2016
28/04/2016
01/12/2015
19/02/2016
21/07/2019
24/02/2019
18/06/2019
10/09/2019
30/06/2016
26/03/2022
24/12/2018
25/06/2019
25/10/2017
09/06/2017
24/09/2019
29/02/2016
30/12/2015
29/02/2016
29/02/2016
31/03/2016
31/03/2016
17/03/2016
29/04/2016
30/12/2015
30/06/2016
29/07/2016
31/01/2016
31/01/2016
31/01/2016
31/01/2016
29/02/2016
31/03/2016
07/12/2015
30/12/2015
31/01/2016
17/03/2016
29/02/2016
29/04/2016
31/03/2016
29/02/2016
29/02/2016
31/03/2016
31/03/2016
30/11/2015
29/01/2016
31/03/2016
07/12/2015
07/12/2015
30/12/2015
30/06/2016
30/06/2016
29/07/2016
31/01/2016
31/01/2016
31/01/2016
31/03/2016
31/03/2016
09/12/2015
31/03/2016
04/01/2016
29/07/2016
31/03/2016
12/10/2019
06/11/2019
06/11/2019
06/01/2017
29/02/2016
07/04/2020
08/06/2016
17/06/2019
31/03/2016
18/07/2016
31/03/2016
18/12/2018
24/12/2019
03/06/2025
01/12/2015
13/11/2015
05/04/2016
29/02/2016
29/01/2016
30/08/2016
09/08/2016
27/11/2015
28/02/2020
09/01/2017
21/12/2018
05/06/2018
26/02/2016
26/02/2016
30/03/2016
30/03/2016
30/03/2016
04/11/2019
08/10/2019
15/02/2016
31/05/2016
01/12/2015
18/07/2016
WARRANTS
INARI-WB
INSAS-WB
INSTACO-WB
INSTACO-WC
IOICORP-C7
IOIPG-CF
IREKA-WB
IRETEX-WA
IRIS-WB
IVORY-WA
JAG-WA
JETSON-WB
JIANKUN-WA
JOHOTIN-WA
JTIASA-CE
K1-WB
KAREX-CH
KAREX-CJ
KAWAN-WA
KEURO-WE
KFM-WA
KIMLUN-WA
KNM-WA
KNM-WB
KSL-WA
KULIM-WC
LBICAP-WA
LBS-WA
LIONCOR-WB
LONBISC-WA
LUSTER-WA
LUSTER-WB
MAGNA-WB
MAHSING-CY
MAHSING-CZ
MAHSING-WB
MAHSING-WC
MALAKOF-CJ
MAXIS-CQ
MAXWELL-WA
MAYBANKC11
MAYBANKC12
MAYBANKC13
MAYBANKC15
MAYBULK-CT
MBSB-WA
MEDAINC-WB
MENANG-WB
MEXTER-WA
MFLOUR-WB
MHB-CX
MHC-WA
MISC-CZ
MITRA-WC
MITRA-WD
MKH-WB
MLAB-WA
MMCCORP-CW
MMCCORP-CY
MRCB-C1
MRCB-C3
MRCB-WA
MSPORTS-WA
MYEG-CK
MYEG-CL
MYEG-CM
NEXGRAM-WA
NEXGRAM-WC
OMESTI-WA
OMESTI-WB
OSKPROP-WC
OSK-WC
PALETTE-WA
PANTECH-WA
PARKSON-CO
PBBANK-C4
PBBANK-C5
PBBANK-C6
PBBANK-C7
PENSONI-WB
PERWAJA-WA
PESONA-WC
PETGAS-CK
PETGAS-CM
PJDEV-WC
PMETAL-CM
PMETAL-WC
POS-CT
PRG-WA
PSIPTEK-WA
PUC-WA
PUNCAK-CF
PUNCAK-CG
PUNCAK-WB
RALCO-WB
REACH-WA
SANICHI-WB
SANICHI-WC
SEACERA-WB
SERSOL-WA
SIME-C2
SKPETROC16
SKPETROC17
SKPETROC18
SKPETROC19
SKPETRO-C9
SKPRES-WA
SMRT-WA
SONA-WA
SPRITZER-WA
STONE-WA
SUMATEC-WA
SUMATEC-WB
SUNWAY-WA
SUPERMX-C1
SUPERMX-C2
SUPERMX-CZ
SYF-WB
SYMLIFE-WB
TAKASO-WB
TAMBUN-WA
TENAGA-C20
TENAGA-C23
TEOSENG-WA
TGOFFS-WA
TGUAN-WA
THETA-WA
TIGER-WB
TM-C6
TMCLIFE-WB
TMS-WA
TNLOGIS-WC
TOPGLOV-CU
TOPGLOV-CV
TRC-WB
TROP-WA
UEMS-C12
UEMS-C14
UEMS-C17
UEMS-C18
UMWOG-CY
UNIMECH-WA
UNISEM-CE
UNISEM-CF
UNISEM-CJ
VIS-WA
VOIR-WA
VSOLAR-WA
WCT-CT
WCT-WC
WCT-WD
WCT-WE
WINTONI-WA
WZSATU-WA
XDL-WB
XDL-WC
XINGHE-WA
XINQUAN-WA
YTL-C1
YTLPOWR-WB
ZELAN-WA
CLOSE
(RM)
1.340
0.195
0.035
0.110
0.185
0.020
0.175
0.060
0.070
0.075
0.055
0.120
0.075
0.295
0.170
0.045
0.140
0.155
1.500
0.155
0.025
0.430
0.080
0.125
0.750
0.750
0.420
0.420
0.015
0.200
0.035
0.040
0.280
0.005
0.020
0.170
0.140
0.230
0.045
0.020
0.060
0.005
0.025
0.210
0.005
0.675
0.055
0.190
0.020
0.250
0.060
0.100
0.115
0.440
0.375
0.760
0.040
0.030
0.025
0.105
0.005
0.115
0.025
0.090
0.045
0.110
0.035
0.035
0.040
0.195
0.990
0.320
0.020
0.250
0.015
0.050
0.060
0.135
0.155
0.190
0.020
0.235
0.065
0.095
0.540
0.270
1.250
0.015
0.200
0.080
0.055
0.075
0.095
1.730
0.105
0.050
0.030
0.025
0.150
0.130
0.025
0.200
0.180
0.090
0.130
0.005
0.785
0.165
0.085
0.710
0.080
0.085
0.080
0.885
0.040
0.105
0.055
0.185
0.215
0.140
0.720
0.100
0.255
0.795
0.050
0.750
0.040
0.020
0.095
0.145
0.025
0.365
0.475
0.225
0.030
0.240
0.025
0.050
0.085
0.210
0.050
0.140
0.105
0.065
0.090
0.040
0.085
0.025
0.025
0.075
0.165
0.145
0.120
0.670
0.015
0.055
0.020
0.035
0.080
0.395
0.150
+/(RM)
VOL PARENT
EXE
(‘000)
PRICE PRICE
-0.010
74.4
0.005
85
0.005 12095.3
0.025 13533.9
0.025
76.3
0.010
130
0.005
60.6
0.010
722.3
0.005
1014.5
Unch
40
0.005
900.6
0.010
100
Unch
20
0.075
7393.9
Unch
115
Unch
435.2
0.010
55
0.005
10
0.020
19
-0.015
85.4
Unch
5
0.070
62
-0.005
3281.1
0.005
268.5
0.040
162.3
-0.020
8.5
0.030
412.1
-0.030
2
-0.015
130
0.020
18.8
Unch
1716.9
Unch
709.5
0.005
131.3
-0.005
170
-0.030
30
0.010
90.1
Unch
55.7
0.020
30
0.005
15
Unch
450
-0.005
84
-0.005
700
0.005
180
0.025
4579.1
-0.005
700
Unch
15
Unch
154.2
0.010
50.2
-0.005
84.7
-0.010
20
Unch
911
0.020
47
0.005
200
0.015
67.5
0.010
921.1
0.010
26
Unch
20
-0.010
50
0.005
201.2
-0.010
110
Unch
100
-0.005
4773.1
Unch
20
0.005
3782.7
Unch 13962.9
Unch
5
Unch
54
0.005
500.2
0.010
46.1
-0.005
131.7
Unch
7.2
Unch
34.6
0.005
1871.1
Unch
7
Unch
187.9
0.010
629.9
0.010 120334.8
0.010
139.1
0.005
100
0.005
2491.5
-0.005
43.4
0.005
178.9
0.015
24
0.015
6.5
0.005
45
0.010
260
0.030
31.6
Unch
100
Unch
10
0.005
100
Unch
71.4
0.005
30
0.005
310
0.050
128.3
-0.015
186
Unch
5579
0.005
735
Unch
100
0.005
50
0.005
216.8
Unch
88.8
Unch
50
-0.005
10
0.005
150
Unch
1573
Unch
64
0.015
2207.3
0.005
183.5
0.005 14254.6
0.010
14.8
Unch
10
0.005
171.5
Unch
3200
-0.015
46
Unch
4461.9
-0.005
320
-0.005
230.3
0.005
1674
Unch
120.4
0.010
82
-0.015
10
Unch 10613.7
Unch
138
0.070
1622.9
0.020
7.1
0.020
35.1
Unch
6.2
Unch
51
0.010
3.1
0.005
69.5
0.005
4840
0.020
775.6
Unch
17.5
-0.005
55
Unch
5
Unch
43
Unch
924.6
-0.005
5
0.005
6496.2
-0.020
387
Unch
790
Unch
105
0.005
25
0.005
75
0.005
65
Unch
36
Unch
1.5
0.005
533
0.010
1
0.010
1445.5
Unch
303.5
Unch
2233.3
-0.005
2554.3
-0.020
22.9
-0.005
100
0.005
372.8
Unch
2143.5
0.005
960.5
-0.025
100
0.005
154.6
0.005
542.8
3.390
0.695
0.210
0.210
4.170
2.070
0.640
0.290
0.205
0.370
0.105
0.370
0.240
1.780
1.280
0.240
3.330
3.330
2.460
0.880
0.145
1.300
0.480
0.480
1.590
3.060
1.470
1.430
0.055
0.770
0.085
0.085
0.935
1.280
1.280
1.280
1.280
1.660
6.650
0.105
8.600
8.600
8.600
8.600
0.890
1.590
0.570
0.610
0.070
1.320
1.050
0.955
8.750
1.050
1.050
2.250
0.085
2.230
2.230
1.140
1.140
1.140
0.100
2.800
2.800
2.800
0.070
0.070
0.510
0.510
1.950
1.650
0.040
0.600
1.180
18.180
18.180
18.180
18.180
0.590
0.145
0.495
22.400
22.400
1.520
2.160
2.160
3.750
0.690
0.145
0.085
2.710
2.710
2.710
0.880
0.615
0.070
0.070
0.630
0.195
8.120
1.880
1.880
1.880
1.880
1.880
1.320
0.295
0.440
1.840
0.255
0.150
0.150
3.110
2.040
2.040
2.040
0.490
0.700
0.500
1.320
12.100
12.100
0.795
0.370
1.910
0.305
0.085
6.800
0.560
0.115
1.100
7.950
7.950
0.360
0.940
1.190
1.190
1.190
1.190
1.150
1.270
2.160
2.160
2.160
0.165
0.460
0.070
1.450
1.450
1.450
1.450
0.210
1.240
0.125
0.125
0.060
0.430
1.540
1.520
0.255
Please refer to the bursa malaysia website For the prices of Loan stocks, bonds and overseas structure warrants
2.000
1.000
0.310
0.130
4.200
2.188
1.000
0.800
0.150
0.750
0.100
0.750
0.320
2.280
1.100
0.220
3.000
3.250
0.930
1.180
0.510
1.680
0.980
1.000
0.800
2.770
1.000
1.000
1.000
1.000
0.100
0.100
0.900
1.680
1.680
1.440
2.100
1.400
7.200
0.400
8.000
9.500
10.000
8.800
1.220
1.000
0.600
1.000
0.130
2.060
1.250
1.560
8.300
0.600
1.090
1.890
0.100
2.200
2.700
1.000
1.500
2.300
0.180
2.800
3.000
2.680
0.100
0.100
0.960
0.500
1.000
1.800
0.040
0.600
2.170
19.300
19.500
18.000
18.100
0.600
1.000
0.250
20.500
24.000
1.000
1.600
1.100
5.000
0.750
0.100
0.100
2.700
2.700
1.000
1.000
0.750
0.100
0.100
1.000
0.180
8.500
1.800
1.700
2.000
1.900
2.800
0.550
0.180
0.350
1.180
0.300
0.320
0.175
2.250
2.250
2.100
2.180
0.700
1.100
0.350
0.600
13.000
11.000
1.350
0.500
1.500
1.199
0.200
7.000
0.750
0.100
1.000
5.200
6.850
0.610
1.000
1.280
1.200
1.050
0.930
1.600
1.500
2.000
2.080
2.050
0.250
0.500
0.120
1.651
1.540
1.710
2.080
0.100
0.600
0.350
0.115
0.100
1.000
1.550
1.140
0.250
PR’M
(%)
-1.47
71.94
64.29
14.29
14.03
9.48
83.59
196.55
7.32
122.97
47.62
135.14
64.58
44.66
12.50
10.42
4.10
13.89
-1.22
51.70
268.97
62.31
120.83
134.38
-2.52
15.03
-3.40
-0.70
1,746
55.84
58.82
64.71
26.20
31.88
33.75
25.78
75.00
12.05
10.98
300.00
0.00
10.73
17.15
10.87
38.20
5.35
14.91
95.08
114.29
75.00
30.48
73.82
9.31
-0.95
39.52
17.78
64.71
5.38
24.44
6.14
32.46
111.84
105.00
12.86
12.61
19.29
92.86
92.86
96.08
36.27
2.05
28.48
50.00
41.67
86.28
8.91
10.30
4.95
8.09
33.90
603.45
-2.02
0.22
11.38
1.32
5.32
8.80
35.73
37.68
24.14
82.35
9.87
10.15
0.74
25.57
30.08
85.71
78.57
82.54
58.97
7.76
17.02
14.36
25.53
20.43
50.27
1.14
16.95
-1.14
2.72
49.02
170.00
70.00
0.80
15.00
13.24
14.95
80.61
87.86
-2.00
0.00
13.64
5.66
169.81
48.65
17.80
306.23
158.82
9.93
59.82
8.70
24.09
1.26
8.81
77.78
31.91
11.76
13.45
9.66
4.62
52.17
29.13
7.18
8.33
11.57
75.76
27.17
107.14
17.18
11.38
29.31
53.45
4.76
2.42
192.00
36.00
100.00
140.70
11.04
0.99
56.86
EXPIRY
DATE
17/02/2020
25/02/2020
07/09/2018
22/01/2020
29/01/2016
31/12/2015
25/06/2019
10/06/2019
20/04/2016
26/04/2017
14/08/2019
06/02/2019
23/12/2021
21/11/2017
18/07/2016
11/12/2015
31/03/2016
29/02/2016
28/07/2016
26/08/2016
19/10/2016
12/03/2024
15/11/2017
21/04/2020
19/08/2016
26/02/2016
17/04/2018
11/06/2018
12/04/2019
26/01/2020
03/06/2022
26/05/2023
04/09/2020
25/01/2016
31/03/2016
16/03/2018
21/02/2020
18/07/2016
30/06/2016
24/03/2020
29/02/2016
02/11/2015
31/05/2016
07/03/2016
15/01/2016
31/05/2016
22/04/2022
09/07/2019
17/09/2018
09/05/2017
29/04/2016
28/07/2017
31/03/2016
04/07/2016
23/08/2020
29/12/2017
24/04/2020
31/12/2015
30/12/2015
29/01/2016
12/10/2015
14/09/2018
09/11/2017
15/01/2016
02/11/2015
30/06/2016
16/05/2022
15/01/2024
19/04/2016
30/05/2018
28/08/2017
22/07/2020
20/03/2018
21/12/2020
31/05/2016
30/06/2016
29/01/2016
30/09/2016
18/07/2016
20/01/2024
28/02/2022
27/01/2020
30/10/2015
30/06/2016
04/12/2020
07/03/2016
22/08/2019
31/03/2016
06/07/2019
16/11/2019
25/12/2024
30/11/2015
19/02/2016
20/07/2018
13/12/2019
12/08/2022
13/03/2018
24/09/2019
29/05/2019
18/04/2023
29/02/2016
31/05/2016
30/09/2016
08/06/2016
07/03/2016
15/12/2015
27/06/2017
01/08/2017
30/07/2018
13/12/2016
21/06/2020
03/03/2021
13/11/2018
17/08/2016
01/12/2015
11/03/2016
29/01/2016
11/11/2019
11/11/2020
02/09/2016
30/05/2017
29/01/2016
07/03/2016
29/01/2020
07/04/2016
09/10/2019
04/07/2016
23/12/2018
29/04/2016
21/06/2019
16/01/2017
26/12/2018
11/03/2016
15/04/2016
14/07/2016
06/12/2019
30/12/2015
31/03/2016
26/02/2016
30/08/2016
29/07/2016
18/09/2018
11/12/2015
29/01/2016
29/07/2016
01/09/2016
31/03/2024
01/12/2017
11/12/2015
10/03/2016
11/12/2017
27/08/2020
23/02/2019
28/10/2024
22/01/2017
02/07/2018
22/03/2019
24/06/2019
31/03/2016
11/06/2018
25/01/2019
TU E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
Markets 3 7
GLOBAL ROUNDUP
Singapore
Hong Kong
15 most active counters
FT Straits Times
STOCK
Index points
3600
3300
3000
2,851.25
2700
2,774.06
+58.10
(+2.08%)
2400
Mar 1, 2010
Oct 5, 2015
VOL (MIL)
NEW WAVE
STRATECH
GOLDEN AGRI-RESOURCES
SPACKMAN ENTERTAIN
INTL HEALTHWAY
ROWSLEY
NOBLE
BLUMONT
SINGAPORE TELECOMM
PACIFIC ANDES RESOURCES
QT VASCULAR
CHINA FISHERY
EZRA
CHINA BEARING SINGAPORE
HEALTHWAY MEDICAL CORP
Weaker-than-expected jobs data from the Top gainers
US was interpreted yesterday as a sign that STOCK
an interest rate rise in the US is less likely LH
this month than previously thought, boost- NUTRYFARM INTL
MIYOSHI
ing markets that could see outflows.
NIPPECRAFT
The Straits Times Index ended Monday CHINA FISHERY
2.08% higher at 2,851.25. Market breadth JASPER INVES
was positive. Excluding warrants, gainers ADVANCED SYSTEMS AUTO
SUNMOON FOOD
outnumbered decliners 297 to 121.
SIIC ENVIRON
However, IG Group notes that the 2,850 LUXKING
resistance continues to restrain the bulls. TMC EDUCATION
SINGAPORE
Speculation over the timing of the US LANTROVISION
MOYA HOLDINGS ASIA
Federal Reserve’s rate hike will increase SBI OFFSHORE
uncertainty after the non-farm payrolls MONEYMAX FINANCIAL
data over the weekend, IG says.
Top losers
“More uncertainty will lead to more STOCK
market volatility, which means financial NEW SILKROUTES
participants may be more comfortable PAN ASIAN
sitting on the side-lines than jostling for GLOBAL TECH
ELEKTROMOTIVE
positions,” it says.
ALPHA ENERGY
As long as Straits Times Index is una- INNOPAC
ble to break the 2,850 level, it may retrace MDR
BLUMONT
lower in the coming sessions, IG says.
Spackman Entertainment, the Korean WE
SUNRIGHT
entertainment production group, tumbled SUTL ENTERPRISE
6.8% to 5.5 Singapore cents despite announc- BANYAN TREE
SMELTING
ing the release of its mystery-drama movie MALAYSIA
FAR EAST
The Priest in Korean theatres on Nov 5.
LIBRA
Japan
0.003
0.350
0.070
0.042
0.089
0.005
0.005
0.052
0.680
0.025
0.097
0.450
0.039
0.190
0.170
CLOSE (S$)
0.001
0.046
0.011
0.003
0.130
0.004
0.004
0.004
0.004
0.200
0.037
0.435
0.550
0.124
0.160
+/– (%)
50.00
32.08
32.08
31.25
28.99
25.00
25.00
23.81
20.35
19.05
16.87
15.38
14.71
14.46
13.33
+/– (%)
-50.00
-46.51
-42.11
-25.00
-23.53
-20.00
-20.00
-20.00
-20.00
-18.37
-17.78
-10.31
-9.84
-9.49
-8.57
3900
17625
3415
18,005.49
+280.36
(+1.58%)
8100
3,088.18
+19.13
(+0.62%)
Japanese stocks rose to more than a two-week
high yesterday as chances of an imminent
US rate hike appeared to fade after downbeat US jobs data, while signs of progress in
trade negotiations between Pacific nations
boosted overall sentiment.
The Nikkei share average gained 1.6%
to 18,005.49, the highest closing level since
Sept 18.
That pushed a resolution of the Trans
Pacific Partnership (TPP) talks beyond the
deadline set by Japan’s economy minister
Akira Amari. On Saturday, Amari had said
the next 24 hours would be a make-or-break
period for the talks.
After five years of negotiations, many officials had described this round as the best
chance for an agreement, so failure to strike
a deal in Atlanta would plunge the future of
the talks into uncertainty.
Australian Trade Minister Andrew Robb
said the delay on Sunday came as other TPP
partners reviewed the proposed terms of a
compromise on the monopoly period available for drug companies that develop new
drugs known as biologics.
“It could prove to be beneficial for the
Japanese economy if the free trade zone
proceeds as advertised,” said analysts, after news that negotiators were closing in
on sweeping deal.
Index points
28900
25625
22350
19075
21,854.50
21,056.93
+348.41
(+1.62%)
15800
Mar 1, 2010
Oct 5, 2015
7200
6590
743.14
441.18
421.89
385.64
370.04
332.37
256.96
228.49
199.50
195.79
180.32
146.99
143.20
141.85
135.42
CLOSE (HK$)
+/– (%)
0.017
0.083
0.930
0.046
0.187
0.084
0.018
5.340
1.370
4.610
3.440
1.620
0.035
1.310
0.255
6.25
-3.49
30.99
12.20
6.25
12.00
-5.26
1.33
3.01
1.32
1.47
5.19
16.67
29.70
8.97
CLOSE (HK$)
+/– (%)
2.060
0.800
6.000
0.220
0.930
1.310
1.270
0.430
0.204
0.248
0.164
12.600
0.035
S:.85
1.070
87.27
48.15
36.36
34.97
30.99
29.70
29.59
28.36
27.50
18.66
17.99
17.76
16.67
15.25
15.05
CLOSE (HK$)
1.020
1.000
0.385
0.810
0.171
1.350
0.320
0.650
1.490
1.350
0.370
0.096
1.340
1.390
1.390
+/– (%)
-77.83
-21.26
-10.47
-10.00
-10.00
-10.00
-9.86
-9.72
-9.70
-9.40
-8.64
-8.57
-7.59
-7.33
-7.33
United States
Dow Jones
Index points
Index points
18580
16310
5,405.94
5370
2445
VOL (MIL)
NGAI SHUN
CHINA INNOVATION INVEST
LAP KEI ENGINEERING
MIDLAND IC&I
JUN YANG FINANCIAL
FINSOFT FINANCIAL INVEST
CCT LAND
CHINA CONSTRUC BANK
GOME ELECTRICAL APPLI
IND & COMM
BANK OF CHINA
GCL-POLY ENERGY
CHINA RES AND TRANS
CHINA SEVEN STAR
ENVIRO ENERGY INTL
Hong Kong shares rose 1.6% yesterday, with Top gainers
technology and financial stocks leading STOCK
the way, as expectations of a United States FDB
interest rate hike this year diminished on NAN NAN RES ENTERTAIN
KATE CHINA
weaker-than-forecast US jobs data.
CODE AGRICULTURE
The benchmark Hang Seng Index ended at LAP KEI ENGINEERING
21,854.5 points, while the China Enterprises CHINA SEVEN STAR
Index of Chinese companies listed in Hong REF
GRAND OCEAN ADVANCED
Kong, climbed 2% to 9,883.71 points.
EVERSHINE
Shares of Glencore surged as much as AID PARTNERS CAPITAL
72% before closing up 18% at HK$12.60. Last ITE
PLC
Friday sources told Reuters the company is GLENCORE
CHINA RES AND TRANS
in talks to sell a stake in its agricultural as- ICO
sets, encouraging some investors worried GOLDEN POWER
about its debt levels.
Top losers
Macau gambling stocks extended gains STOCK
from last Friday after data showed a smaller CHINA SEVEN STAR
drop in casino revenue than the previous JETE POWER
month. One broker credited better-than-ex- YUE DA MINING
COPPER INTL
pected tourist arrivals n Macau during Chi- XINGYE
MASTERMIND CAPITAL
na’s Golden Week holidays.
LEGEND STRATEGY INTL
“People are covering back their short AMCO UNITED
positions as sentiment has been too bearish CHAOYUE
earlier, but I wouldn’t be very bullish as the SILVERMAN
SHANGHAI QINGPU
overall economic picture remains bad,” said U-HOME GROUP
Alex Wong, director of Ample Finance Group. CREATIVE ENERGY SOLUTIONS
Hong Kong’s financial stocks rose nearly RUNWAY GLOBAL
MIDAS
2% and technology stocks climbed 2.5%.
CHINA NONFERROUS MINING
5980
6,129.98
+57.51
(+0.95%)
14040
10,403.79
11770
16,472.37
+200.36
(+1.23%)
2,772.70
4760
1960
Oct 5, 2015
STOCK
FTSE 100
2930
10,172.06
15 most active counters
Hang Seng
United Kingdom
Index points
20800
Mar 1, 2010
CLOSE (S$)
UNCH
11.90
4.48
-6.78
-1.16
3.80
1.27
-20.00
2.81
9.52
2.74
28.99
0.89
4.35
-5.56
Euro STOXX 50 Index
Index points
11275
0.012
0.047
0.350
0.055
0.085
0.191
0.400
0.004
3.660
0.023
0.150
0.089
0.113
0.024
0.034
+/– (%)
Europe
Nikkei 225
14450
89.40
68.61
53.60
53.56
46.63
41.51
39.12
34.21
28.31
24.51
23.97
22.47
21.03
19.64
19.04
CLOSE (S$)
Mar 1, 2010
Oct 2, 2015
European shares closed higher last Friday,
as firmer utility stocks and gains on the
Lisbon bourse before weekend elections
in Portugal propped up markets in spite of
weak US jobs data.
The pan-European FTSEurofirst 300 Index
closed up 0.5%, while the eurozone’s blue-chip
Euro STOXX 50 Index finished 0.6% higher.
However, Volkswagen fell 4.3% to around
its lowest level in four years as a French investigation added to pressure from a scandal
over the carmaker’s diesel emissions.
Analysts said European equities would
remain supported by economic stimulus
measures from the European Central Bank.
“The market is trying to find its equilibrium and I believe it’s almost reached
it. Thinking strategically, European stocks
have never been so interesting,” he said.
Portugal’s PSI-20 index was the best-performing market in Europe, climbing 2.1% as
Portugal’s prime minister made a final push
last Friday to boost his chances of not only
winning this weekend’s election but also of
securing an absolute majority and a more
stable government.
Worries over a slowdown in China, the
world’s second-biggest economy, have also
contributed to driving down European stocks
in the last three months, pushing them close
to their 2015 lows.
Mar 1, 2010
9500
Oct 2, 2015
Britain’s benchmark share index closed higher last Friday but gave up much of the session’s gains after weak US jobs data fanned
concerns over global growth.
Britain’s FTSE 100 rose nearly 1% to
6,129.98 points, taking the index into positive territory for the week, and was up about
1.6% before the US figures came out.
The index posted its biggest quarterly decline since 2011 in the third quarter, which
ends tomorrow, although it has now risen
for three straight sessions.
Precious metals miners Randgold and
Fresnillo were among the top risers, gaining
4.8% and 4.2% respectively as the price of
gold rebounded from a two-week low after
the US payrolls data.
Mining group Glencore rose 4.4% after
sources told Reuters the company was in
talks with a Saudi Arabian sovereign wealth
fund and China’s state-backed grain trader ,
China National Cereals, Oils and Foodstuffs
Corporation (COFCO), along with Canadian
pension funds, to sell a stake in its agricultural assets.
Banking stocks also rose after Britain’s
financial regulator said it planned to impose
a two-year deadline for customers to claim
compensation for mis-sold loan insurance,
drawing a line under Britain’s costliest consumer finance scandal.
Mar 1, 2010
Oct 2, 2015
US stock indexes jumped over 1% last Friday as worries about the economy after
a disappointing jobs report gave way to a
robust rally in energy and materials stocks.
The Dow Jones industrial average rose
1.23% to end at 16,472.37 points while the
S&P 500 gained 1.43% to 1,951.36. It bounced
about 3% from its intra-day low to its closing
level. The Nasdaq Composite jumped 1.74%
to finish at 4,707.78.
The three major indexes clawed back
losses of more than 1.5% as poor payroll
data hinted at economic weakness while
strengthening the argument for delaying a
long-awaited interest rate hike.
The recently beaten-down S&P energy index surged 4.01% following a rise in oil prices,
while the materials index jumped 2.41%.
“The silver lining with this disappointing jobs number is that possibly this could
push the rate hike off to the first quarter of
2016,” said Jake Dollarhide, chief executive
of Longbow Asset Management in Tulsa.
Last Friday’s strong performance follows over a month of turbulence in global
markets that has seen the S&P lose 7% of
its value over fears that troubles in China’s
economy could spread around the world.
Analysts on average expect third-quarter earnings to decline 4.2%, according to
Thomson Reuters data. — Agencies
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE FI N AN C I AL DAI LY
38 Markets
INSIDER MOVES . TRADING THEMES . EVENTS . FOREX
Trading themes
Insider moves (Filings on Oct 2, 2015)
Global Inflation Rate
Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook.
COMPANY
SHARES ACQUIRED
(DISPOSED)
1 UTOPIA
AEON CO. (M)
2,000,000
(59,900)
AMMB
AWC
500,000
2,160,000
BERJAYA AUTO
CAHYA MATA SARAWAK
CIMB GROUP
(979,700)
400,100
497,900
CLIQ ENERGY
DIALOG GROUP
(2,768,300)
200,000
DIALOG GROUP
DIGI.COM
ELK-DESA RESOURCES
(1,958,000)
1,989,200
1,340,000
ES CERAMICS TECHNOLOGY
FOCUS LUMBER
GAMUDA
GAMUDA
(4,500,000)
(200,000)
3,000,000
(1,957,700)
DIRECTOR/SUBSTANTIAL
SHAREHOLDER
FNS AVENUE S/B
MITSUBISHI UFJ FINANCIAL GROUP, INC,
JAPAN
EMPLOYEES PROVIDENT FUND BOARD
DATO’ AHMAD KABEED MOHAMAED NAGOOR
LAFARGE MALAYSIA
LINGKARAN TRANS KOTA
MALAYAN BANKING
MALAYSIA AIRPORTS
MAXIS
MEDIA PRIMA
MISC
MY E.G. SERVICES
500,000
(84,800)
8,884,300
(164,778)
1,950,000
(84,000)
(951,800)
1,224,600
ORIENTAL
PANPAGES
PETRONAS DAGANGAN
PETRONAS GAS
PETRONAS GAS
499,100
181,000
117,000
353,300
(965,000)
POS MALAYSIA
PPB GROUP
PUBLIC BANK
RAYA INTERNATIONAL
(533,500)
70,700
2,335,100
625,000
(409,100)
(1,100,000)
(282,800)
7,627,700
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
2,050,700
(260,900)
100,000
4,000,000
(550,700)
(890,700)
1,672,300
(432,800)
50,000
(291,900)
INARI AMERTRON
IOI CORPORATION
IOI PROPERTIES GROUP
IRE-TEX CORPORATION
KUALA LUMPUR KEPONG
KULIM (M)
(100,000)
2,658,600
126,000
(1,900,000)
(600)
(300,000)
LAFARGE MALAYSIA
S P SETIA
SAPURAKENCANA PETROLEUM
TELEKOM MALAYSIA
TENAGA NASIONAL
TIME DOTCOM
TUNE PROTECT GROUP
101,200
TRANSACTION
DATE
59,900,500
263,671,728
29/9
28/9
503,468,937
84,909,652
29/9
29, 30/9
& 1/10
29/9
29/9
28/9
EMPLOYEES PROVIDENT FUND BOARD
65,399,620
EMPLOYEES PROVIDENT FUND BOARD
83,047,927
MITSUBISHI UFJ FINANCIAL GROUP, INC,
737,508,100
JAPAN
CREDIT SUISSE SECURITIES (EUROPE) LTD., UK
43,137,100
KUMPULAN WANG PERSARAAN
264,289,316
(DIPERBADANKAN)
EMPLOYEES PROVIDENT FUND BOARD
585,041,544
EMPLOYEES PROVIDENT FUND BOARD
1,080,260,840
LIM KENG CHIN
2,751,450
CHOY SWEE LAN
LIN HAO YU
LEMBAGA TABUNG HAJI
KUMPULAN WANG PERSARAAN
(DIPERBADANKAN)
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
KUAN KAM PENG
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
KUMPULAN WANG PERSARAAN
(DIPERBADANKAN)
INSAS PLAZA S/B
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
DATO TEY POR YEE
EMPLOYEES PROVIDENT FUND BOARD
KUMPULAN WANG PERSARAAN
(DIPERBADANKAN)
AMANAHRAYA TRUSTEES
- SKIM AMANAH SAHAM BUMIPUTERA
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
KUMPULAN WANG PERSARAAN
(DIPERBADANKAN)
EMPLOYEES PROVIDENT FUND BOARD
LAU KOK FUI
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
KUMPULAN WANG PERSARAAN
(DIPERBADANKAN)
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
EMPLOYEES PROVIDENT FUND BOARD
WATER BEAUTE WORLD
GAMUDA
GENTING PLANTATIONS
HAP SENG PLANTATIONS
HARTALEGA
HARTALEGA
HONG LEONG BANK
IHH HEALTHCARE
IJM CORPORATION
INARI AMERTRON
INARI AMERTRON
SHARES HELD
AFTER CHANGE
29/9
29/9
3,100,001
25,361,680
125,495,200
141,315,900
29/9
29/9
30/9, 1
& 2/10
29 & 30/9
30/9
28 - 30/9
28/9
255,561,805
114,352,700
64,784,000
843,379,468
120,724,400
251,378,483
741,233,500
504,524,678
55,667,187
55,452,949
29/9
29/9
29/9
29/9
29/9
29/9
29/9
29/9
29/9
29/9
36,496,900
597,709,059
342,685,086
30,617,500
148,380,238
68,396,200
29/9 & 1/10
29/9
29/9
17/9
29/9
29/9
59,918,300
29/9
82,003,275
34,519,400
1,428,342,898
223,308,906
560,106,500
164,717,943
294,739,471
74,525,700
28/9
29/9
28 & 29/9
29/9
29/9
29/9
23 & 25/9
28 & 29/9
57,592,616
24,834,100
53,959,100
231,562,800
112,623,600
29/9
1/10
29/9
29/9
28/9
533,500
90,101,079
606,420,263
10,600,000
29/9
29/9
29/9
28, 29/9
& 1/10
29/9
29/9
29/9
23, 25
28 & 29/9
29/9
29/9
150,263,698
862,901,969
585,058,936
939,566,319
(200,000)
200,000
EMPLOYEES PROVIDENT FUND BOARD
31,869,300
KUMPULAN WANG PERSARAAN
63,726,600
(DIPERBADANKAN)
UEM SUNRISE
18,895,500 LEMBAGA TABUNG HAJI
306,114,400
28 - 30/9
YTL CORPORATION
795,300 EMPLOYEES PROVIDENT FUND BOARD
745,762,247
29/9
While every effort is made to ensure accuracy, the information presented is not an exhaustive list and is not an official record of shareholder
filings. Direct and indirect shareholdings are combined due to space constraints. Readers who are interested should check the official filings filed
with Bursa Malaysia.
Note: * denotes Ace Market
Local events to watch out for today
• Selangor Menteri Besar Mohamed Azmin Ali • Launch of the STEM CS (Computer Science)
officiates the Seminar Pendeta Za’ba at Dewan
Education to Malaysian schools at Level 1, Intan
Jubli Perak, Sultan Salahuddin Abdul Aziz Shah,
Suite, Petaling Jaya Hilton, Petaling Jaya Selangor
Shah Alam, Selangor at 8.30am.
at 2pm.
• MoA signing between The Malaysian Financial • The launch of Price Reduction Campaign by KK
Planning Council & SEGi University at SEGi AuSuper Mart, KK Hotel & KK Home Deco at KK
ditorium Hall, Level 2, SEGi University, Jalan TeHotel, 12 Plaza Citra, Jalan Citra, Kajang, Selangor
knologi, Kota Damansara, Petaling Jaya, Selangor
at 2.30pm.
at 10am.
Eurozone inflation
Stocks closest to year low
Stocks closest to year high
STOCK
POHUAT
KOSSAN
JOHOTIN
AJIYA
LAYHONG
DSONIC-CF
DRBHCOMC16
INSTACO-WD
BPPLAS
FL
FBMKLCI-C18
SHH
CARING
CSL
LUXCHEM
INSTACO-WC
DSONIC-CD
OIB
FBMKLCI-JB
FBMKLCI-C14
HIGH
(RM)
LOW
(RM)
CLOSE
(RM)
VOLUME
('000)
3.520
7.920
1.830
3.390
5.540
0.345
0.110
0.120
1.360
1.970
0.185
1.770
1.960
0.130
1.570
0.120
0.200
3.150
0.295
0.525
3.330
7.800
1.760
3.180
5.400
0.330
0.105
0.085
1.270
1.930
0.180
1.640
1.910
0.115
1.500
0.090
0.190
3.140
0.290
0.515
3.500
7.870
1.780
3.300
5.420
0.340
0.105
0.110
1.340
1.970
0.180
1.770
1.960
0.125
1.550
0.110
0.200
3.140
0.295
0.525
972.4
6196.8
1953.1
1822.3
202.8
2129.5
595.1
5118
1783.7
1322.3
1545
802.2
498.1
28215.4
1398.9
13533.9
480.5
4
277.4
16
This table shows stocks that are trading near their year high. This
could suggest a build-up in buying momentum, or the possibility that
profit-taking activities could set in later.
STOCK
FBMKLCI-H21
INARI-CJ
HSI-HQ
YTL-C1
HSI-HR
PBBANK-C7
MAYBANKC12
FBMKLCI-H23
MNC
HOOVER
HIGH
(RM)
LOW
(RM)
CLOSE
(RM)
VOLUME
('000)
0.130
0.185
0.655
0.085
0.965
0.155
0.005
0.595
0.190
0.480
0.125
0.170
0.590
0.080
0.935
0.150
0.005
0.595
0.175
0.440
0.125
0.170
0.600
0.080
0.965
0.155
0.005
0.595
0.190
0.440
1903.4
550
25818.5
100
70
100
700
10
303.3
19.6
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.
Foreign exchange rates
NZ
NZ $
EURO
EURO
0.580
1.724
US
SWISS
BRIT CANADA BRUNEI S’PORE
AUST
M’SIA
CHINA
BANGL’H
DENM’K
UAE
SAUDI SWEDEN
0.853
0.925
0.925
0.918
2.8560
4.140
50.639
4.327
2.392
9,438
42.530
78.339
5.435
30.249
2.372
2.442
5.420
23.688
5.047
1.471
1.595
1.595
1.583
4.9244
7.138
87.314
7.460
4.125
16,274
73.332
135.074
9.371
52.156
4.089
4.211
9.346
40.844
8.703
7.750
1.028
STERLING £
2.332
1.352
1.519
1.477
CANADA $
1.172
0.680
0.763
0.743
0.503
BRUNEI $
1.081
0.627
0.704
0.685
0.464
0.922
SINGAPORE $
1.081
0.627
0.704
0.685
0.464
0.922
1.000
AUSTRALIA $
1.089
0.632
0.710
0.690
0.467
0.929
1.008
1.008
MALAYSIA RM
0.350
0.203
0.228
0.222
0.150
0.299
0.324
0.324
0.321
24.157
14.010
15.733
15.302
10.360
20.608
22.346
22.350
22.175
68.9910
1.975
1.145
1.286
1.251
0.847
1.685
1.827
1.827
1.813
5.6399
8.175
100 DANISH KRONER
23.113
13.405
15.054
14.641
9.913
19.718
21.381
21.384
21.217
66.0110
95.68
100 UAE DIRHAM
41.801
24.244
27.226
26.480
17.928
35.661
38.668
38.675
38.373 119.3847
173.04
2,117
180.86
1000 INA RUPIAH
0.106
0.061
0.069
0.067
0.045
0.090
0.098
0.098
0.097
0.3026
0.439
5.365
0.458
0.253
100 INDIA RUPEE
2.351
1.364
1.531
1.489
1.008
2.006
2.175
2.175
2.158
6.7152
9.733
119.067
10.173
5.625
0.973
0.658
1.310
1.420
1.421
1.409
4.3850
6.356
77.750
6.643
3.673
14,491
65.300
120.279
8.344
46.443
3.641
3.750
8.322
36.370
0.677
1.347
1.460
1.461
1.449
4.5085
6.535
79.940
6.830
3.776
14,899
67.139
123.666
8.579
47.751
3.744
3.856
8.557
37.394
7.968
1.989
2.157
2.157
2.140
6.6591
9.652
118.072
10.088
5.578
22,006
99.165
182.656
12.672
70.529
5.530
5.695
12.638
55.232
11.769
1.084
1.085
1.076
3.3478
4.853
59.360
5.072
2.804
11,063
49.854
91.829
6.371
35.458
2.780
2.863
6.354
27.767
5.917
1.000
0.992
3.0874
4.475
54.742
4.677
2.586
10,203
45.976
84.686
5.875
32.700
2.564
2.640
5.860
25.608
5.456
0.992
3.0869
4.474
54.734
4.676
2.586
10,201
45.969
84.672
5.874
32.694
2.563
2.640
5.859
25.603
5.455
3.1112
4.510
55.164
4.713
2.606
10,282
46.331
85.339
5.920
32.952
2.584
2.661
5.905
25.805
5.498
1.0000
1.449
17.731
1.515
0.838
3,305
14.892
27.430
1.903
10.591
0.830
0.855
1.898
8.294
1.767
1,223
104.514
57.789
1,892
131.286
730.705
57.292
59.002
130.938
572.226
121.928
8.544
4.724
18,638
83.987
154.699
10.732
59.734
4.683
4.823
10.704
46.778
9.967
55.293
218,146
983.01
1,811
125.62
699.14
54.82
56.45
125.28
547.51
116.66
1,778
3,275
227.18
1,264
99.14
102.10
226.58
990.20
210.99
4.506
8.300
0.576
3.205
0.251
0.259
0.574
2.510
0.535
184.195
12.779
71.123
5.576
5.743
12.745
55.697
11.868
1,170
227,994 1,027.386
394,530
22,192
1.277
0.740
0.831
0.809
0.547
1.089
1.181
1.181
1.172
3.6457
5.284
64.642
5.523
3.054
12,048
54.290
18.400
10.671
11.984
11.656
7.891
15.697
17.021
17.024
16.891
52.5500
76.169
932
79.608
44.017
173,662
782.553
1,441
6.938
3.035
38.613
3.027
3.118
6.919
30.238
6.443
556.573
43.639
44.941
99.734
435.861
92.871
3.306
1.917
2.153
2.094
1.418
2.820
3.058
3.059
9.4417
13.685
167.410
14.303
7.909
31,202
140.602
258.982
17.967
100 QATAR RIYAL
42.164
24.454
27.462
26.710
18.084
35.970
39.004
39.010
38.706 120.4207
174.546
2,135
182.425
100.868
397,953
1,793
3,303
229.155
100 SAUDI RIYAL
40.942
23.745
26.666
25.935
17.559
34.927
37.873
37.879
37.584 116.9302
169.486
2,073
177.137
97.944
386,418
1,741
3,207
222.512
1,238
97.101
100 SWEDISH KRONOR
18.449
10.700
12.016
11.687
7.912
15.739
17.066
17.069
16.936
52.6900
76.372
934.241
79.820
44.135
174,124
784.638
1,445
100.266
558.056
43.755
45.061
4.221
2.448
2.750
2.674
1.811
3.601
3.905
3.906
3.875
12.0566
17.476
213.774
18.265
10.099
39,843
179.542
330.707
22.943
127.695
10.012
10.311
22.882
19.812
11.490
12.904
12.550
8.497
16.902
18.327
18.330
18.187
56.5836
82.016 1,003.278
85.718
47.396
186,991
842.619
1,552
107.676
599.294
46.988
48.391
107.390
100 HK$
HK
0.739
0.890
100 THAI BAHT
THAI
0.429
0.916
100 PHILIPPINE PESO
QATAR
1.092
1.535
100 NORWEGIAN KRONER
PHIL
0.633
1.579
100 JAPAN YEN
JAPAN NORWAY
1.123
US $
100 CHINESE RMB
INDIA
0.651
SWISS FR
100 BANGLAD’H TAKA
INA
7.841
1,275
8.075
17.919
78.311
16.686
102.985
228.546
998.795
212.819
969.844
206.650
437.022
93.119
221.921
21.308
469.316
Note: Run your finger down the left-hand side until you reach the country of origin you plan to exchange. Then move your finger until that line intersects with the vertical column of the currency you wish to buy. The figure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.
TU E SDAY OC TOB E R 6 , 2015 • T HEED G E FINA NCIA L DA ILY
Markets 3 9
FUTURES . MONEY MARKET . COMMODITIES
Money market
Index futures
Index points
1980
US Dollar
Long Rolls - KLCI futures
FKLI
Open Interest
1,638.50 90000
(+37.00)
Klibor
USD Index
Index points
-12.00
18.00
102.00
(Unch)
Implied interest rate (%)
95.752
(-0.078)
1790
68000
4.75
94.25
1600
46000
-8.50
86.50
1410
24000
-21.75
78.75
4.5
3.82
(Unch)
3.5
2000
1220
Jan 4, 2010
Oct 5, 2015
71.00
-35.00
Jan 4, 2010
KLCI futures close higher in
tandem with cash market
Oct 5, 2015
FBM KLCI futures
INDEX AND FUTURES
CONTRACT
SETTLEMENT
CHANGE
VOLUME
OPEN CHANGE IN
INTEREST OPEN INTEREST
The FBM KLCI futures contracts on Bursa FBMKLCI 1,647.59 18.79 139.1M
1,638.50
37.00
9,120 49,850
-167
Malaysia Derivatives finished higher yester- OCT-15
1,626.50
36.50
215
342
50
day in tandem with the higher cash market. NOV-15
DEC-15
1,613.50
33.50
76
381
-3
October 2015 gained 37 points to 1,638.5; MAR-15
1,591.50
35.00
4
37
0
November 2015 eased 36.5 points to 1,626.5; TOTAL
9,415 50,610
-120
December 2015 went up 33.5 points to 1,613.5
BID
OFFER
CLOSE
and March 2016 was 35 points higher at FUTURES ROLL OVER
OCT/NOV
-12.0
-13.0
-12.0
1,591.5.
Turnover rose to 9,415 lots versus 7,936 FUTURES FAIR VALUE
DAYS TO EXPIRY
KLIBOR DIVIDEND FAIR VALUE
lots last Friday while open interest surged to CONTRACT
26
3.79
5.39
-2.46
50,610 contract from 49,997 contracts pre- OCT-15
NOV-15
57
8.50
7.52
-2.76
viously. The benchmark FBM KLCI finished ROLL’S FAIR
-0.30
18.79 points higher at 1,647.59.
Southeast Asian stock markets rose yesterday, in line with Asia as expectations the
US Federal Reserve would hike interest rates
The Jakarta Composite Index gained 3.2%,
this year faded after weaker-than-expected
US jobs data, with the key Indonesian index its biggest single-day gain since Aug 27, while
posting its best gain in nearly six weeks.
the Philippine Index increased 1.6%. — Agencies
Commodities
CPO vs Soyoil
Open Interest
4200
200000
3450
1950
2,415
Jan 6, 2008
Oct 5, 2015
1.5
Oct 1, 2000
US dollar weaker as traders
push back expectations
Klibor
The US dollar nursed losses yesterday, falling
around 0.5% against the euro and slipping
against a basket of currencies, after a weak
US jobs report drove traders to push back
expectations of a US Federal Reserve rate
hike to early 2016.
The euro’s bounce, though, is likely to remain muted, with the European Central Bank
likely to come under additional pressure to
ease monetary policy in a bid to neutralise the
impact on inflation from a firmer currency.
The US dollar index, which tracks the
greenback against a basket of six major currencies, slid to 95.218 last Friday, its lowest
since Sept. 21. It last stood at 95.75, down
0.3% on the day.
The US dollar was higher against the yen
at ¥120.20, moving away last Friday’s low of
¥118.68, its lowest since Sept 7. — Reuters
OCT5
NOV5
DEC5
MAR6
JUN6
SEP6
DEC6
MAR7
JUN7
SEP7
DEC7
MAR8
JUN8
SEP8
DEC8
MAR9
JUN9
SEP9
DEC9
MAR0
JUN0
SEP0
TOTAL
Oct 5, 2015
MONTH
(+28)
Gold
Soyoil US$/Ibs
US$/bbl
US$/troy oz
6400
2,778 0.7300
155.0
(RM0.2877/ton)
SETTLEMENT
PRICE
CHANGE
96.22
96.22
96.18
96.15
96.12
96.10
96.07
96.07
96.02
95.98
95.93
95.93
95.93
95.93
95.93
95.93
95.93
95.93
95.93
95.93
95.93
95.93
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
VOLUME
OPEN
INTEREST
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0
—
—
500
120
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
620
1980
46.01
(+0.47)
0.5475
122.5
105000
3800
0.3650
90.0
1340
57500
2500
0.1825
57.5
1020
0.0000
25.0
700
10000
(+28)
1200
Jan 6, 2008
Oct 5, 2015
CPO futures
CONTRACT
OCT-15
NOV-15
DEC-15
JAN-16
FEB-16
LAST
2,365
2,379
2,415
2,443
2,467
CHANGE
46
25
28
24
27
VOLUME
142
5,491
27,800
7,784
2,420
1660
1,132.30
(-4.40)
2,415
Oct 5, 2015
Palm oil rises, tracking
competing markets
Crude Oil
CPO RM/ton
5100
152500
2700
1200
Oct 2, 2006
CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.
CPO & Open Interest
CPO RM/ton
2.5
OPEN CHANGE IN
INTEREST OPEN INTEREST
2,106
21,311
65,527
37,237
14,183
-95
-1,269
-311
561
747
Malaysian palm oil futures continued their
rise yesterday after climbing for the past two
weeks, supported by strong gains in rival oilCPO FUTURES
CPO/SOYOIL
seed and crude oil prices.
FUTURES BASIS (USD)
The benchmark December contract on INDICATIVE ROLL-OVER CURRENT
-57.12
OCT/NOV
-14
the Bursa Malaysia Derivatives exchange OCT/DEC
3 MONTHS AVERAGE
-69.45
-50
closed 1.2% higher at RM2,415 a tonne at OCT/JAN
6 MONTHS AVERAGE
-67.91
-78
the end of the trading session.
NOV/DEC
-36
Prices reached a 15-month high of SGS & ITS EXPORT ESTIMATES (TONNES)
JUN’2015
JUL’2015
AUG’2015
RM2,460 last Tuesday after a rally that saw SHIPMENT DAYS
1 - 10TH DAYS
473/469
309/320
486/499
palm climb almost 20% last month.
783/780
665/666
730/716
“Future crude palm oil prices may attempt 1- 15TH DAYS
DAYS
1,082/1,074
908/908
991/992
to recoup last Friday’s losses in view of strong 11 -- 20TH
25TH DAYS
1,393/1,400
1,179/1,149 1,285/1,276
gains in rival oilseed and energy fronts,” said FULL MONTH
1,696/1,649
1,540/1,544 1,542/1,525
a trader based in Kuala Lumpur.
MALAYSIAN PALM OIL BOARD
JAN’15
FEB’15
MAC’15
APR’15
“However, the current strength in the
1,161
1,122
1,495
1,693
ringgit and news from the Malaysian Palm PRODUCTION
1,184
972
1,182
1,175
Oil Board to temporarily halt palm product EXPORT
STOCKS
1,770
1,743
1,866
2,194
imports from Indonesia due to high stocks
MPOB Palm oil physical
levels may hamper market sentiment and
(IN RM/TON)
OCT’2015
NOV’2015
DEC’2015
keep gains checked.”
DELD
2,296
2,290
2,300
Traded volume stood at 48,590 lots of 25 CPO
PK EX-MILL
1,820
1,845
1,855
tonnes each, well above the average 35,000 CPKO DELD
3,853
3,873
3,861
lots usually traded in a day.
RBD P.OIL FOB
2,466
2,519
2,536
A weaker ringgit, the currency palm is RBD P.OLEIN FOB
2,554
2,532
2,554
2,083
2,092
2,105
traded in, usually lends some support to palm RBD P.STEARIN FOB
prices. It has lost about 20% this year against MPOB FFB REF PRICE (MILL GATE PRICE)
REGION
GRADE A
GRADE B
GRADE C
the US dollar, but rose 0.7% yesterday.
OER (RM/TON)
OER(RM/TON)
OER (RM/TON)
The Malaysian and Indonesian govern- NORTH
20.00% 494
19.00% 472
18.00% 450
ments had announced last Saturday a plan SOUTH
20.00% 504
19.00% 481
18.00% 458
20.00% 500
19.00% 477
18.00% 454
to set up an intergovernmental organisation CENTRAL
of palm producers to ensure industry coop- EAST COAST 20.00% 495 19.00% 472 18.00% 450
SABAH
22.00% 480
21.00% 460
20.00% 439
eration and prop up prices. — Reuters
SARAWAK
22.00% 487
21.00% 466
20.00% 446
Apr 10, 2007
Oct 5, 2015
Oil price up as Russia mulls
Opec talks, rig count drops
Oil rose yesterday after Russia said it was
ready to meet other producers to discuss the
market, where prices have more than halved
from last year’s highs due to a supply glut.
A report showing a fifth weekly fall in
the number of oil rigs drilling in the United
States also underpinned prices.
Brent was US50 cents higher at US$48.63 a
barrel after ending up US44 cents last Friday.
US crude was US50 cents higher at US$46.04
a barrel after settling up US80 cents.
Russia, one of the world’s top three oil
producers, has been unwilling to cut output
to support prices and last November declined
to cooperate with the Organization of the
Petroleum Exporting Countries (Opec) in
order to defend its market share.
“Geopolitical tension created by Russia’s
involvement in Syria makes cooperation with
Opec highly unlikely,” said analyst. — Reuters
Centrifuged Latex
Commodities
AGRICULTURE
UNIT
EXCHANGE
RM/TON
SEN/KG
USC/BSH
USC/BSH
USC/BSH
USC/IBS
US$/TON
USC/IBS
USC/IBS
USC/IBS
MDEX
MRB
CBOT
CBOT
CBOT
CME
NYBOT
NYBOT
NYBOT
NYC
2,415
544.00
390.50
879.75
516.00
131.250
3,092
127.50
13.30
60.63
28
0.50
1.25
5.50
2.75
-0.125
-7
0.15
-0.03
0.49
US$/TON
USC/IBS
US$/TROY OZ
US$/TROY OZ
US$/TROY OZ
USC/TROY OZ
RMB/TON
RMB/TON
KLTM
CMX
CMX
NYMEX
NYMEX
CMX
SHF
SHF
15,440
2.34
1,132.30
913.70
706.15
15.26
11,645
13,655
UNCH
0.01
-4.40
3.70
8.30
0.00
UNCH
UNCH
LIGHT CRUDE OIL
US$/BBL
HEATING OIL
USC/GAL
NATURAL GAS
US$/MMBTU
BRENT CRUDE
US$/BBL
GAS OIL
US$/TON
NYMEX
NYMEX
NYMEX
ICE
ICE
CRUDE PALM OIL
RUBBER
CORN
SOYBEANS
WHEAT
LIVE CATTLE
COCOA
COFFEE
SUGAR
COTTON
LAST PRICE CHANGE
METAL & PRECIOUS METALS
TIN
COPPER
GOLD
PLATINUM
PALLADIUM
SILVER
ALUMINIUM
ZINC
ENERGY
46.01
0.47
1.5557 0.0125
2.674
0.010
48.66
0.53
465.25
13.00
Sen/Kg
1100
1700
900
1325
410.50
950
(-0.50)
500
544.00
(+0.50)
575
300
Jan 7, 2007
Oct 5, 2015
Rubber - M’sia SMR 20
Sen/Kg
700
Aug 31, 2008
200
Oct 5, 2015
Jan 7, 2007
Oct 5, 2015
Markets
40
T U ESDAY OC TOB ER 6 , 2 0 1 5 • TH EEDGE FI N AN C I AL DAI LY
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 9
YOUR DAILY FINANCIAL MARKET S ROUNDUP
I N S I D E R M OV E S . T R A D I N G T H E M E S . E V E N T S . FO R E X PA G E 3 8
G L O BA L M A R K E T S PA G E 3 7
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 3 3
RESEARCH: TAI TS [[email protected]; SUGUMARAN [[email protected]]
KLCI 1,647.59
18.79 FBM ACE 5,687.70
140.55 FTSTI 2,851.25
58.10 NIKKEI
280.36 HANG SENG
18,005.49
The only sin is mediocrity.
— Martha Graham
STOCK
Index point
KL Composite Index
1,647.59
(+18.79)
KLCI futures
1,639.00
(+37.00)
8:45 9:30
10:30
11:30
12:45
14:30
15:30
16:30 17:15
Daily FBM KLCI
Moving average - 20-day
KL Composite Index
1950.0
PBBANK-C5
XOX
FRONTKN
CSL
EAH
HSI-HQ
DRBHCOMC15
MQTECH
XDL
SONA-WA
INSTACO-WC
CAP-WA
GLOTEC
MINETEC-WA
CSL-WA
SONA
(+18.79)
VOLUME
('000)
CHANGE
(%)
CHANGE
(RM)
CLOSE
(RM)
HIGH
(RM)
LOW
(RM)
120,335
69,967
34,003
28,215
27,936
25,819
17,774
15,239
15,005
14,255
13,534
12,207
12,123
11,905
9,883
8,685
20.00
38.89
6.25
13.64
25.00
-11.11
0.00
13.04
-3.85
6.25
29.41
0.00
0.00
33.33
40.00
1.15
0.010
0.035
0.010
0.015
0.015
-0.075
0.000
0.015
-0.005
0.005
0.025
0.000
0.000
0.005
0.010
0.005
0.060
0.125
0.170
0.125
0.075
0.600
0.035
0.130
0.125
0.085
0.110
0.015
0.045
0.020
0.035
0.440
0.065
0.125
0.175
0.130
0.080
0.655
0.035
0.130
0.130
0.090
0.120
0.015
0.050
0.025
0.035
0.440
0.050
0.095
0.160
0.115
0.065
0.590
0.035
0.115
0.120
0.080
0.090
0.015
0.045
0.015
0.030
0.435
Banking shares up as Malaysian
Budget rally takes centre stage
1385.0
1102.5
820.0
Jan 2, 2008
Oct 5, 2015
900
600
300
0
Volume (’mil)
FBM KLCI futures
CONTRACT
SETTLEMENT
CHANGE
HIGH
LOW
OCT-15
NOV-15
DEC-15
1,638.50
1,626.50
1,613.50
37.00
36.50
33.50
1,639.00
1,627.00
1,614.00
1,613.00
1,601.00
1,596.00
KLCI
POINTS
CHANGE
(RM)
CLOSE
(RM)
VOLUME
('000)
0.00
2.53
2.53
2.45
2.40
1.63
1.29
1.22
0.74
0.71
0.68
0.61
0.56
0.47
0.41
-0.92
17.30
1.49
18.79
0.000
0.170
0.380
0.150
0.180
0.160
0.100
0.360
0.070
0.220
0.050
0.080
0.040
0.260
0.070
-0.050
7.570
5.970
18.180
8.600
5.730
4.270
6.650
22.400
8.120
13.420
6.110
8.750
6.050
14.320
4.300
1.540
1044.8
16791.8
6129.6
9825.7
10607.3
2380.2
3308.7
1571.1
5294.3
298.9
3575.6
2273.8
8509.8
79.1
3986.3
6931.1
FBM KLCI sensitivity*
* How stock price changes affected the index on the previous trading day
12.89
KLCI FUTURES 1614.00
11.50
STI 2801.85
10.96
RM/USD 4.4040
CPO RM2412.00
39.00
OIL US$49.15
0.78
GOLD US$1113.30
2.20
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.60 (INCLUSIVE OF 6% GST)
Ignore
the noise,
Najib
tells US
investors
FRIDAY OCTOBER 2, 2015 ISSUE 2017/2015
FINANCIAL
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EVERY FRIDAY
TTER
MAKE BE
WITH
Read this
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D EC I S I O
NS
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(032820)
AT U
ep14 F E
AT U
ep13 F E
GAL
ep12 L E
WS
ep5 N E
for
Strong startHeights
Tropicana
need to
5 things you the Strata
know about Tribunal
Management
RE
on
A rare find Street
Kimberley
RE
Hotels
7 Heritage worth visiting
in Penang
PBBANK-C5
XOX
TMS
INSTACO
AIRASIA
FRONTKN
FBMKLCI-C12
DSONIC-CE
CSL
EAH
AEMULUS
HSI-HQ
FBMKLCI-HK
KNM
GOB
IFCAMSC
ARMADA
SUMATEC
FGV
DRBHCOMC15
TURNOVER
(‘000)
CHANGE
(RM)
CHANGE
(%)
PRICE
(RM)
PE
RATIO
DIVIDEND
YIELD (%)
120,334.8
69,966.9
59,144.2
41,085.0
34,824.0
34,003.3
28,863.7
28,700.8
28,215.4
27,936.2
26,946.6
25,818.5
24,523.1
23,681.4
22,561.3
19,344.2
18,872.2
18,659.5
18,388.2
17,773.9
0.010
0.035
0.005
0.035
0.010
0.010
0.015
0.005
0.015
0.015
0.025
-0.075
-0.035
0.010
0.030
0.010
UNCH
0.005
0.010
UNCH
20.00
38.89
4.55
20.00
0.79
6.25
9.38
6.67
13.64
25.00
4.50
-11.11
-11.86
2.13
5.22
1.06
UNCH
3.45
0.66
UNCH
0.060
0.125
0.115
0.210
1.270
0.170
0.175
0.080
0.125
0.075
0.580
0.600
0.260
0.480
0.605
0.950
0.940
0.150
1.520
0.035
—
36.00
—
—
—
8.74
—
—
1.74
—
—
—
—
13.13
2.29
14.20
—
7.51
46.32
—
0.00
0.00
0.00
0.00
2.38
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1.06
1.73
0.00
6.62
0.00
Top gainers and losers (ranked by RM)
UP
BAT
PBBANK
PETGAS
HLFG
CCB
ULICORP
HLBANK
POHUAT
AJIYA
PHARMA
PANAMY
DIGI
CLOSE
CHANGE
(RM)
60.980
18.180
22.400
14.320
2.940
4.350
13.420
3.500
3.300
6.690
21.000
5.730
0.460
0.380
0.360
0.260
0.260
0.250
0.220
0.220
0.200
0.190
0.180
0.180
NESTLE
RAPID
TAHPS
UTDPLT
HSI-HM
HSI-HN
HSI-HO
HSI-HD
HSI-HS
GENP-WA
GTRONIC
AKNIGHT
0.025
0.050
0.025
0.065
0.035
0.295
0.020
0.040
0.020
0.020
66.67
66.67
66.67
44.44
40.00
34.09
33.33
33.33
33.33
33.33
MAYBANKC12
LIONCOR-WB
MAYBULK-CT
HUBLINE-WA
MAHSING-CY
MMCCORP-CW
XDL-WB
BJAUTO-CH
YTL-C1
AEON-CE
DOWN
CLOSE
CHANGE
(RM)
72.500
6.100
6.800
25.920
1.200
1.180
1.700
1.140
1.310
2.240
6.100
0.320
-0.380
-0.230
-0.200
-0.180
-0.160
-0.160
-0.150
-0.130
-0.130
-0.120
-0.100
-0.090
0.005
0.015
0.005
0.005
0.005
0.030
0.015
0.015
0.080
0.035
-50.00
-50.00
-50.00
-50.00
-50.00
-25.00
-25.00
-25.00
-23.81
-22.22
KUALA LUMPUR: Malaysian shares staged a pre-Budget rebound, led by banking and oil and gas-related stocks. Fund
managers said investors regained confidence following the
recovery of commodity prices.
At 5pm, the KLCI rose 18.79 points or 1.15% to close at
1,647.59, lifted by stocks like Public Bank Bhd, Hong Leong
Financial Group Bhd and Petronas Dagangan Bhd. These
stocks ended among Bursa Malaysia top gainers.
Areca Capital Sdn Bhd chief executive officer Danny Top gainers and losers (ranked by percentage)
Wong described the KLCI’s rise as a Budget rally. Wong said
UP
CHANGE
DOWN
CHANGE
the financial sector, as the key component of the KLCI, would
CLOSE
(%)
CLOSE
(%)
see more interest from investors and would continue to lead
FGV-C2
0.010
100.00
AFFIN-CS
0.005
-75.00
the market rebound.
0.020 100.00
MAHSING-CZ
0.020 -60.00
Danny Wong told theedgemarkets.com the KLCI had IOIPG-CF
CHINA50-C6
0.025
66.67
MAYBANKC12
0.005 -50.00
gained on “revived interest on banking stocks amid interest TGOFFS-WA
0.050
66.67
LIONCOR-WB
0.015 -50.00
towards the banking sector”.
WCT-CT
0.025
66.67
MAYBULK-CT
0.005 -50.00
“This is pre-Budget bounce back. We hope there will be LIONCOR
0.055
57.14
HUBLINE-WA
0.005 -50.00
0.065
44.44
MAHSING-CY
0.005 -50.00
more good news on commodities, crude palm oil besides oil AXIATA-C3
0.035
40.00
MMCCORP-CW
0.030 -25.00
and gas prices. Normally, during winter at year-end, oil and CSL-WA
0.125
38.89
XDL-WB
0.015 -25.00
gas prices will rebound, and Malaysia will be a beneficiary,” XOX
JOHOTIN-WA
0.295
34.09
BJAUTO-CH
0.015 -25.00
Wong said.
PALETTE-WA
0.020
33.33
YTL-C1
0.080 -23.81
Yesterday, crude oil prices rose. Reuters reported that ELKDESA-OR
0.040
33.33
AEON-CE
0.035 -22.22
crude oil prices rose on Monday after Russia said it was prepared to meet other producers to discuss the situation in the Top gainers and losers - warrants (ranked by percentage)
global oil market.
UP
CHANGE
DOWN
CHANGE
The Malaysia goverment will announce its 2016 Budget
CLOSE
(%)
CLOSE
(%)
on Oct 23. — by Chen Shaua Fui & Tan Siew Mung
FGV-C2
0.010 100.00
AFFIN-CS
0.005 -75.00
IOIPG-CF
0.020 100.00
MAHSING-CZ
0.020 -60.00
World equity indices
DOW JONES
S&P 500
NASDAQ 100
FTSE 100
AUSTRALIA
CHINA
HONG KONG
INDIA
I want an edge!
FBM KLCI 1633.93
200.36
Daily top 20 active stocks
1667.5
1,623.20
DOW JONES 16,472.37
Market movers
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.
1,647.59
UMW HOLDINGS
AXIATA GROUP
PUBLIC BANK
MAYBANK
DIGI.COM
GENTING MALAYSIA
MAXIS
PETRONAS GAS
SIME DARBY
HONG LEONG BANK
PETRONAS CHEMICAL
MISC
IHH HEALTHCARE
HONG LEONG FINANCE
WESTPORTS HOLDINGS
YTL CORPORATION
SUB-TOTAL
OTHERS
GRAND TOTAL
348.41
UNUSUAL MARKET ACTIVITIES
FBM KLCI & KLCI futures intraday
1648.0
1644.4
1640.8
1637.2
1633.6
1630.0
1626.4
1622.8
1619.2
1615.6
1612.0
21,854.50
CLOSE
CHANGE
16,472.37
1,951.36
4,267.45
6,129.98
5,150.53
3,052.78
21,854.50
26,785.55
200.36
27.54
74.49
57.51
98.52
14.64
348.41
564.60
INDONESIA
JAPAN
KOREA
PHILIPPINES
SINGAPORE
TAIWAN
THAILAND
VIETNAM
CLOSE
CHANGE
4,343.70
18,005.49
1,978.25
6,961.93
2,851.25
8,352.36
1,363.17
570.00
135.90
280.36
8.57
111.32
58.10
47.33
16.82
7.69
Email: [email protected]
Fax: (03) 7721 8282
CHINA50-C6
TGOFFS-WA
WCT-CT
AXIATA-C3
CSL-WA
JOHOTIN-WA
PALETTE-WA
ELKDESA-OR
AXIATA-C2
MINETEC-WA
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