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 FBM KLCI 1602.30 6.45 KLCI FUTURES 1594.00 6.00 STI 3204.52 48.81 RM/USD 4.1780 CPO RM2207.00 15.00 OIL US$63.06 0.68 GOLD US$1494.00 1.30
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM2.00

THURSDAY SEPTEMBER 12, 2019 ISSUE 2966/2019

FINANCIAL
DAILY
www.theedgemarkets.com
MAKE
BETTER
DECISIONS
Ex-MMM executive deputy chairman
jailed, fined for insider trading
3 HOME BUSINESS

THE EDGE FILE PHOTO

1MDB-TANORE

QUEK LENG CHAN

TRIAL

1MDB-Tanore

WINS BID
trial postponed
to Tuesday as
Najib is on
medical leave

2
S T O RY O N PA G E 6
to buy hospital business in Asean
Hong Leong group and TPG said to be paying
Tony Fernandes: US$1.2 billion for the acquisition from Columbia Asia.
‘Absurd’ that
Malaysia does not Adeline Paul Raj has the story on Page 3.
have LCCTs
3 HOME BUSINESS

Inari partners
with Taiwanese
firm to make
optical transceivers
in Penang
5 HOME BUSINESS

‘No big impact

from Sime Darby’s
car dealership buy’
5 HOME BUSINESS

Weak July industrial

output a temporary
Tadmax gets green light for RM3.5b
blip — economist Pulau Indah power plant project 4 HOME BUSINESS
2 T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
ON EDGE T V
www.theedgemarkets.com
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learned in a
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PRODUCT DEVELOPMENT
& CUSTOMER ADVISORY
Senior Manager Elizabeth Lay
Fernandes: Absurd that
M’sia does not have LCCTs
He hits out at MAHB for refusing to embrace the LCC model
KUALA LUMPUR: AirAsia Group
Bhd co-founder and group chief
executive officer Tan Sri Tony Fer-
nandes says it is “absurd” that low-
cost carriers (LCCs) dominate the
Malaysian aviation market, but the
country does not have dedicated
low-cost carrier terminals (LCCTs).
Fernandes pointed out that in
Malaysia, LCCs account for 57%
and 51% of domestic and interna-
tional flights respectively.
Globally, LCCs expanded by 8%
last year, close to triple the 3% growth
of full-service carriers. This growth
is even more impressive in Asia, es-
pecially Southeast Asia, where LCCs
are growing by 16% and now account
for 50% of air travel, he said.
“Yet it is absurd that Malaysia
does not have any dedicated LCCTs.
At klia2, AirAsia alone accounts for
more than 90% of the total passen-
ger traffic,” he wrote in his LinkedIn
post yesterday.
“If Malaysia is to remain compet-
itive, there is an urgent need for the
development of dedicated LCCTs, es-
pecially at key hubs in Kuala Lumpur,
Penang and Kota Kinabalu,” he said.
He hit out at airport operator
Malaysia Airports Holdings Bhd
(MAHB) for refusing to embrace
the LCC model despite having the
largest low-cost airline in Asia —
AirAsia — as its main user.
“They (MAHB) are abusing their
monopolistic position in the market
by impeding the growth of the LCC
segment in Malaysia. The lack of
support from the aviation author-
ities to boost low-cost travel is dis-
appointing, to say the least. There
is a huge misalignment of interests
between MAHB and airlines.
“Similar to other industries, there
should be a clear distinction be-
Backlash could cost Xi’s Belt
and Road US$800b — report
BY IAIN M ARLOW
HONG KONG: A new report sug-
gested the backlash to China’s polit-
ical and trade policies could shave
as much as US$800 billion (RM3.34
trillion) off investment in President
Xi Jinping’s signature Belt and Road
Initiative (BRI), amid mounting
concerns about the geopolitical
price of doing business with Beijing.
The report published yesterday
from consultancy Silk Road As-
sociates and law firm Baker Mc-
Kenzie outlined five scenarios for
future BRI investment. The most
optimistic is a “global cooperation
model” that sees China spending
more than US$1.3 trillion glob-
ally between 2020 and 2030. The
most pessimistic is “unipolar” and
tween premium and price-sensitive
segments, even for airports,” he said.
Fernandes noted that a better
alignment of interests between
airlines, airports and authorities
is crucial to ensure that Malaysia
remains a preferred aviation hub.
“This can only be achieved if all
stakeholders share the same un-
derstanding and appreciation of
the LCC model, just like Japan and
many other countries in the world.
“Sadly, such appreciation for
the LCC model by Japan and other
countries is not shared by the Ma-
laysian authorities,” he said.
Commending Japan on the
opening of Terminal 2 at Nagoya
Chubu Centrair International Air-
port on Sept 20, Fernandes said the
“simple yet hi-tech terminal” is an
outcome of a collaborative partner-
ship between the government and
major stakeholders.
“Since the initial stage of devel-
opment, the authorities in Japan
have worked closely with major
low-cost airlines including AirAsia,
to ensure that everyone’s business
needs are well addressed.
weighs the impact of a recession,
growing nationalism and more
aggressive competition, predict-
ing investment might only reach
around US$560 billion.
The report’s release came as
Hong Kong kicked off a Belt and
Road investment summit yester-
day attended by several Chinese
officials, one of whom urged the
city’s residents to stop protest-
ing and seize the opportunities
offered through China’s region-
al infrastructure spending plans.
The Asian financial hub has seen
months of unrest that have taken
a toll on its economy, including
tourism and retail.
With more than 130 countries
reported to have signed up to the
initiative, estimates for China’s
For breaking news updates go to
www.theedgemarkets.com
Fernandes noted
that a better
alignment
of interests
between
stakeholders is
crucial to ensure
that Malaysia
remains a
preferred
aviation hub.
The Edge file
photo
“I strongly believe that a firm un-
derstanding and appreciation of the
LCC model among key stakeholders
are pivotal in ensuring the success
of an LCCT. After all, an airport can
hardly be relevant and functional if
the needs of airlines and passengers
are not taken care of,” he wrote.
The long-standing feud between
AirAsia and MAHB is widely known.
But in recent times, the tension has
heightened after the airport opera-
tor launched several lawsuits against
AirAsia and its associate AirAsia X
Bhd to recover overdue passenger
service charge (PSC) payments, as
well as for defamation over three
online articles linked to the charges.
On Tuesday, MAHB also applied
to the court for garnishee orders to
execute a judgement on the out-
standing PSC. A garnishee order is a
form of enforcing a judgement debt
against a creditor to recover money.
Fernandes also commended Na-
goya Airport for “facilitating airlines
that want to promote their brands
at strategic areas at the terminal”.
“This reflects how much the air-
port operator values the partner-
current BRI investments vary wild-
ly — from hundreds of billions of
dollars to as much as US$8 trillion.
The World Bank has suggest-
ed China’s current spending to-
tals around US$575 billion, but
predicting future investments by
Xi’s notoriously opaque govern-
ment over a decade is difficult.
Political opposition to projects in
Sri Lanka and Malaysia, among
other countries, has led to some
projects being revised, curtailed
or cancelled, making investments
even more difficult to track.
The Asian Development Bank
has previously estimated develop-
ing countries in Asia need around
US$26 trillion worth of infrastruc-
ture investments between 2016
and 2030. — Bloomberg
ship they have with airlines. This
symbiotic relationship will at the
end of the day help all parties in-
volved. In Malaysia, branding at
the airports is expensive,” he said.
He noted that Nagoya Airport Ter-
minal 2 was also built with a cheaper
cost. “Even after taking into account
the size difference, overall construc-
tion cost for Nagoya Airport Terminal
2 is estimated to be only about 5%
of the cost to build its Terminal 1.”
Fernandes cited the cost of
building klia2. “[It] was initially
estimated to be RM1.7 billion, but
eventually blew up to RM4 billion
due to the expansion of [the] com-
mercial and retail area, making up
12% of the total space at klia2. As
a result, the construction cost per
1,000 sq m for klia2 is as high as 76%
of the cost to build Kuala Lumpur
International Airport,” he said.
He said airlines are also offered
business-friendly rates at Nagoya
Terminal 2 to run their businesses,
from aircraft operation to branding.
For example, the cost for AirAsia
to operate an A320 from Nagoya’s
Terminal 2 is only half the cost com-
pared with Terminal 1.
“Nagoya is not the sole example.
The low-cost Terminal 3 at Narita
Airport and Terminal 2 at Kansai
Airport which were opened a few
years ago, are other gleaming illus-
trations of LCCTs that were done
right,” he added.
Closer to home, Fernandes point-
ed to countries like Indonesia and
Thailand that had invested in LCCTs.
“In Indonesia, Terminal 2 at Soeka-
rno Hatta International Airport is
dedicated for LCCs, while the Thai
authorities are developing an avi-
ation complex in Utapao, which
includes a dedicated LCCT.”
Scottish court
rules parliament
suspension unlawful
LONDON: Prime Minister Boris
Johnson’s suspension of the British
parliament was unlawful, a Scottish
court ruled yesterday, prompting
immediate calls for lawmakers to
return to work as the government
and parliament battle over the fu-
ture of Brexit.
Scotland’s highest court of appeal
ruled that Johnson’s decision to pro-
rogue, or suspend, parliament from
Monday until Oct 14 was unlawful
— a blow for the government as it
seeks to leave the European Union
(EU) on Oct 31 with or without a deal.
With seven weeks until Britain is
due to leave the EU, the government
and parliament are locked in conflict
over the future of Brexit, with possible
outcomes ranging from leaving with-
out a deal to another referendum that
could cancel the divorce. — Reuters
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
HOME BUSINESS 3

Quek Leng Chan wins Inari partners with Taiwanese firm to

make optical transceivers in Penang

bid to buy hospital

BY J U S TI N L IM
The entity will enable
KUALA LUMPUR: Inari Amertron Inari to diversify
Bhd signed an agreement with its earning streams
PCL Technologies Inc to set up a
while tapping the

business in Asean
Hong Leong, TPG said to be paying US$1.2b for Columbia Asia’s ops
BY A D EL I N E PAU L RA J
KUALA LUMPUR: Tycoon Tan Sri
Quek Leng Chan is venturing into the
healthcare business in a big way. The
Quek-controlled Hong Leong group,
in partnership with private equity
firm TPG, has won a bid to buy the
hospital business of Columbia Asia
group in Southeast Asia, sources said.
The planned venture into health-
care is said to be spearheaded by
the tycoon’s youngest son, Quek
Kon Sean. “They clinched it after a
sizeable top-up to their initial bid,” a
source told The Edge Financial Dai-
ly, describing it as an “expensive”
acquisition.
While details are scant, sources
indicated that the Hong Leong-TPG
team is paying around US$1.2 billion
(RM5.01 billion) cash for the hospi-
tal business. Others who were in the
race included Sime Darby Bhd and
US-based investment firm General
Atlantic. The acquisition will mark
the Hong Leong group’s foray into
healthcare. The conglomerate is al-
ready in banking and financial ser-
vices, property development, hospi-
tality and leisure, manufacturing and
distribution, among others.
A private healthcare company,
Columbia Asia is owned by Seat-
tle-based International Columbia
USA LLC (ICU).
Its website shows that it has 12
hospitals in Malaysia, 11 in India, two
in Vietnam and three in Indonesia,
for a total of 28.
According to earlier news reports,
Columbia Asia started a formal sale
process earlier this year.
It drew first-round, non-binding
bids from a number of investors, in-
cluding sovereign wealth funds and
private equity firms like KKR, CVC
and Carlyle. The last major healthcare
transaction was in January this year,
when IHH Healthcare Bhd complet-
ed the acquisition of a 31.17% stake
in Fortis Healthcare Ltd in a US$584
million deal, allowing it to expand its
footprint in India.
joint-venture to secure, manage
and manufacture optical trans-
ceivers and other related products
in Penang.
Under the shareholders’ sub-
scription agreement, Inari Amertron
said the entity to be formed will have
an initial capital of RM20.85 million.
Inari and PCL would subscribe 30%
and 70% stake in the entity respec-
tively, the semiconductor group
said in a filing with Bursa Malaysia.
Inari Amertron said the entity
will carry out business operations
at Plant 34 in Penang or other plants
owned by the company.
Inari Amertron also said the
proposed subscription represents
an opportunity to invest in a busi-
ness relationship with PCL with a
view to collaborating on a good
business opportunity.
“Notwithstanding the minority
position, the entity will enable In-
ari to diversify its earning streams
while tapping the expertise of PCL
in the optotronics sector.
“Besides, the entity will carry
out operations at Plant 34 or oth-
expertise of PCL in the
optotronics sector.
er plants owned by Inari group in
Penang, as such rental payable by
the entity at the prevailing mar-
ket rate will generate a source of
cash flow and or income to Inari,”
it added.
PCL is a company listed on the
Taiwan Stock Exchange and is
mainly engaged in the research,
manufacturing and sales of the
optical transceiver module.
PCL also provides complete en-
gineering and product manufactur-
ing solution of complex optical and
electro-mechanical components.
Its product lines include optical
transceivers, fibre channels, transis-
tor outline-can packages and opti-
cal sub-assemblies, widely used in
high-speed bandwidth transmission
between netcoms, cloud comput-
ing, wireless communication and
telecommunications equipment.

Ex-MMM executive deputy chairman jailed, fined for insider trading

BY A R J U NA C H A ND RA N SHANKAR Securities Commission Malaysia’s list of criminal trials and appeal outcomes

KUALA LUMPUR: Former Ma- COMPANY PERSON INVOLVED OFFENCE (S) COURT DECISION DATE OF COURT DECISION
laysian Merchant Marine Bhd Three-A Fang Chew Ham Insider trading One day imprisonment Sept 3,2019
(MMM) executive deputy chair- Resources Bhd and a fine of RM1 million
man Datuk Ramesh Rajarat- Insider trading One day imprisonment Sept 3,2019
nam was found guilty of insider and a fine of RM1 million
trading by the Sessions Court Fong Chiew Hean Nine counts of insider trading One day imprisonment Aug 22, 2019
yesterday. and a fine of RM1 million
Ramesh, 55, was sentenced to Tan Bee Geok Insider trading One day imprisonment Aug 22,2019
five years in jail and fined RM9 and a fine of RM1 million
million, following a full trial with Mohd Nor Abdul Wahid Insider trading Charge withdrawn April 15,2019
24 witnesses testifying, said the Azuzay Zamani Allowing a person who is not an authorised Charge withdrawn April 15,2019
Securities Commission Malaysia nominee of a deposited security to effect
(SC) in a statement. dealings in respect of the deposited security
The SC said Judge Azman Linear Corp Bhd Alan Rajendram Furnishing false statement to Seven months imprisonment Aug 29,2019
Ahmad convicted Ramesh on Bursa MalaysiaSecurities Bhd and a fine of RM100,000.00,
all charges, but allowed a stay in default, 6 months jail
of his jail sentence pending an Liqua Health Alice Poh Gaik Lye Using a scheme to defraud Liqua Health Acquitted and discharged July 1,2019. Appeal heard
appeal. Corp Bhd Corporation Bhd (Liqua) in connection in the High Court on
with the purchase of 45,960,450 units July 8,2019
The judge, however, ordered of Liqua shares
the RM9 million fine to be paid
Goh Bak Ming Using a scheme to defraud Liqua Health Acquitted and discharged July 1,2019. Appeal heard
by yesterday, failing which Corporation Bhd (Liqua) in connection in the High Court on
Ramesh must serve a default with the purchase of 45,960,450 units July 8,2019
jail term of nine years. It is un- of Liqua shares
derstood that Ramesh failed to Kosmo Technology Norhamzah Nordin With intent to deceive, furnishing a false Total of two years April 29,2019. Sessions
pay the fine yesterday. Industrial Bhd statement to Bursa Malaysia Bhd imprisonment and is liable to Court Judge allowed a stay
Ramesh was charged in April a total fine of RM1.45 million of the jail terms pending
2015 with three counts of in- accused’s High Court appeal
sider trading under the Capital Mohd Azham Mohd Noor With intent to deceive, furnishing a false Total of two years imprisonment April 29,2019. Sessions
Markets and Services Act 2007 statement to Bursa Malaysia Bhd and is liable to a total fine Court Judge allowed a stay
of RM1.45 million of the jail terms pending
(CMSA). accused’s High Court appeal
He was accused of disposing
Lim Hai Loon With intent to deceive, furnishing a false Total of a year’s imprisionment April 29,2019. Sessions
of 10,200,800 of MMM shares statement to Bursa Malaysia Bhd and is liable to a total fine Court Judge allowed a stay
while in possession of material of RM560,000 of the jail terms pending
non-public information in rela- accused’s High Court appeal
tion to the proposed downgrade Kenmark Industrial Datuk Ishak Ismail Misleading statement in a material particular Charge withdrawn June 10,2019
by Malaysian Rating Corp Bhd Co (M) Bhd
(MARC) on the credit rating of Insider trading Charge withdrawn June 10,2019
MMM’s Al-Bai Bithaman Ajil Source: The Securities Commission Malaysia’s list of criminal trials and appeal outcomes
Islamic Debt Securities, which
was made public by MARC on
Feb 4, 2010, said SC. Feb 19 and Feb 22 in 2010. Practice Note 17 (PN17) company. from Bursa Malaysia in March CMSA and carries a punishment
According to the regula- Ramesh was also found to be in MMM, a shipping and logistics 2011. of an imprisonment term not ex-
tor, the disposals of the MMM possession of material non-public company, fell into PN17 status Insider trading is an offence ceeding 10 years and a fine of not
shares were made on Jan 11, information relating to MMM as a in March 2010, and was delisted under Section 188(2)(a) of the less than RM1 million.
4 HOME BUSINESS
Tadmax gets nod for
RM3.5b Pulau Indah
power plant project
Company banking on venture for future growth
BY EM I R ZA I N U L
KUALA LUMPUR: Seven months
after its last update, Tadmax Re-
sources Bhd said it has received
government approval to pro-
ceed with the development of a
1,000-1,200-megawatt (mw) com-
bined cycle gas and turbine power
plant in Pulau Indah, Selangor.
In a filing with Bursa Malaysia
yesterday, Tadmax said its whol-
ly-owned unit, Tadmax Indah Pow-
er Sdn Bhd, received a letter from
the Energy Commission, notifying
that the government has agreed on
Aug 29, 2019 for the development
of the RM3.5 billion power plant
project to proceed.
In February, The Edge Malaysia
weekly reported that the develop-
ment of the project — scheduled
to be commissioned by early 2023
— had been terminated by the gov-
ernment.
Following the report, Tadmax
said it did not receive any noti-
fication of termination from the
government then. The contract was
‘Positive momentum to continue
as retail trade sales hit record high’
BY TAN XU E Y I N G
KUALA LUMPUR: The sales value
of Malaysia’s wholesale and retail
trade grew 5.7% year-on-year (y-o-y)
in July to a record high of RM112.5
billion, a spurt economists believe
will likely continue in the coming
months sustained by a number of
factors including stable employment.
Following the robust perfor-
mance, UOB Malaysia economist
Julia Goh reckons that the momen-
tum could continue for the remain-
der of the year.
“This underscores the resilience
in private consumption spending
and continues to be the key driver
for Malaysia’s domestic economy.
It will be driven by a stable labour
market and sustained wage growth,
as well as government assistance,”
Goh told The Edge Financial Daily.
Similarly, MIDF Research ex-
pects the encouraging trend of dis-
tributive sales registered in 2018 to
continue this year, supported by
economic conditions such as low
inflationary pressure and upbeat
tourism activities, besides a stable
job market.
“For the second quarter of 2019
(2Q19), distributive sales expand-
ed at a slightly moderating pace of
6.1% y-o-y compared with 6.6%
y-o-y in 1Q19.
awarded to the property developer Worldwide Holdings Bhd as its stra-
through direct negotiation by the tegic partner to carry out the project.
previous government. To recap, Energy, Science, Tech-
The company, which is banking nology, Environment and Climate
on its venture into power genera- Change Minister Yeo Bee Yin an-
tion with the power plant project nounced the ministry’s intention to
for future growth, stressed that it review independent power produc-
“has complied with all the require- er projects that had been awarded
ments of all relevant government previously, two months after taking
agencies and has not received any over the portfolio last year.
notification of termination”. This was said to be part of the
The project was awarded to Tad- reform of the domestic power in-
max in August 2016, which raised dustry, following the change in
eyebrows then, considering the government.
company’s lack of experience and Already, the ministry had an-
expertise in the power generation nounced the termination of pow-
industry. er contracts that had been granted
The group’s high debt then also to Malakoff Corp Bhd and TNB’s
caused concerns that the company 700mw gas-powered plant in Kapar,
might fail to fund the large-scale Selangor; Aman Majestic Sdn Bhd
project. and TNB’s 1,400mw plant in Paka,
Initially, it invited Tenaga Na- Terengganu; Sabah Development
sional Bhd (TNB) to participate Energy (Sandakan) Sdn Bhd and SM
in the power plant, but the latter Hydro Energy Sdn Bhd’s hydropow-
declined the offer in May 2017. er plant in the Palm Oil Industrial
Subsequently, Tadmax roped in Cluster in Sandakan, Sabah; and the
South Korea’s state-owned utility Ko- solar power quota of 400mw to Edra
rea Electric Power Corp as its techni- Power Holdings Sdn Bhd for the con-
cal partner and Selangor state-owned struction of a solar-powered plant.
its forecast expansion for private
Wholesale and retail consumption and services sector
trade sales value at 7.5% and 6.5%, respectively, for
(RM billion)
2019, although it pointed out the
115 high base effect from last year’s
tax holiday period could influence
110 estimates.
In a statement yesterday, the
105
Statistics Department’s chief statis-
tician Datuk Seri Dr Mohd Uzir Ma-
hidin attributed the 5.7% increase
100
108.9
103.5
109.3
105.1
in the nation’s wholesale and retail
112.3
112.5
110.8
trade to retail trade, which expand-
95 ed 7.1%, driven by the 10.5% growth
Jan
Feb
March
April
May
June
July
in retail sales of food, beverages
and tobacco.
2019 “This was followed by retail sales
Source: Department of Statistics Malaysia of other goods in specialised stores
and retail sales in non-specialised
“For 3Q19, we foresee a con-
stores which registered 8.2% and
8.1% respectively. For wholesale
tinuous positive performance in trade, sales value expanded 6.6%.
distributive sales underpinned by On the other hand, motor vehi-
low inflation, stable job market and cles registered a negative growth of
supportive monetary and fiscal 1.7% as against a year ago,” Mohd
policy changes such as the over- Uzir said.
night policy rate cut and stable Compared to the preceding
retail fuel prices. month, the country’s wholesale and
“In addition, average passenger retail trade sales value rose 0.2% in
movement growth of 8.2% y-o-y July from June as retail trade grew
in the first two months of 3Q19 1.1% while wholesale transactions
(2Q19: 5.2% y-o-y) are likely to contracted 2.3%, according to the
be translated into steady growth department.
for retail sales in this quarter,” it “Motor vehicles sub-sector grew
added. 7.3% after a contraction of 5.4% in
The research house maintains June 2019,” Mohd Uzir added.
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
Tex Cycle sees 20% profit contribution
from UK renewable energy plant
BY J US T IN L IM
KUALA LUMPUR Tex Cycle Tech-
nology (M) Bhd is hopeful its
maiden renewable electrical en-
ergy project in the UK will contrib-
ute 20% of the company’s net profit
after the first plant commences
operation by end-2020.
The waste management com-
pany’s executive director, Ho Siew
Cheong, said the company would
be able to recognise the earnings
from the plant immediately upon
the start of operations.
“When the plant starts opera-
tions by end-2020, we collect the
gate fee from the waste compa-
ny and we sell electricity to make
money. So, it (earnings recognition)
is a straight off thing,” Siew Cheong
told a press conference yesterday.
The company has formed a
50:50 joint-venture company,
Culzean W2E Ltd, with Culzean
Generation to venture into the
UK market for renewable energy
projects.
The first plant, which is ex-
pected to commence operations
by end-2020, is located at Elles-
mere Port in Cheshire, north-
west England. It has a capacity to
produce 2mw of electricity in the
first 12 months and up to 4mw in
the future.
The joint venture is also target-
ing to build two plants in Wrex-
ham, Wales and Burnley, Lanca-
shire in the next two years, each
with a capacity to produce 2mw
of electricity.
Tex Cycle chief executive officer
Gary Dass said each plant will
cost £5 million (RM25.83 million).
Funding is expected to come from
UK financial institutions but Cul-
zean W2E also welcomes the par-
ticipation of other companies that
are keen to invest in the plants.
Dass said Culzean Generation
has a combined experience of over
40 years in financing and the en-
ergy sector in the UK.
It has transferred ownership of
electricity supply licences to the
joint-venture company, thereby
allowing the sale of power from
the plants to customers living in
areas not surrounding the gener-
ation site, he added.
In the long run, Culzean W2E
aims to grow the business by ex-
panding it to over 40 sites with a
combined electricity capacity of
150mw in the 10 years after the
completion of the first plant.
On the local front, Dass said its
renewable electrical energy plant
Icon Offshore unit bags RM25.6m
contract from Petronas Carigali
BY AR J UN A C H A N D R A N S H A N K A R
KUALA LUMPUR: Icon Offshore
Bhd’s subsidiary has bagged a
RM25.6 million contract from Pe-
tronas Carigali Sdn Bhd to sup-
ply one anchor handling tug and
supply vessel for the petroleum
arrangement contractor’s pro-
duction operations.
In a filing with Bursa Malay-
sia yesterday, the group said its
unit, Icon Offshore Sdn Bhd, was
Dass says each plant will cost £5
million. Photo by Kenny Yap
in Telok Gong, Port Klang is in the
midst of completing the environ-
mental assessment study and Tex
Cycle is looking to start operations
early next year.
The plant is located at the same
site as the company’s existing re-
cycling business.
The new plant is expected to
contribute some RM7 million per
year to Tex Cycle’s top line, togeth-
er with a profit margin of over 20%
following the commencement of
operation.
In 2016, the company inked a
power purchase agreement with
Tenaga Nasional Bhd to supply
2mw per hour of electricity.
Tex Cycle is 41.37% owned by
Can Cycle Sdn Bhd, a private vehi-
cle jointly held by its group exec-
utive chairman Ho Siew Choong,
and his brothers Siew Cheong and
Siew Weng, as well as Periasamy
Sinakalai. The latter three sit on
the board as executive directors.
Tex Cycle’s net profit for the
year ended Dec 31, 2018 fell
38.62% to RM7.89 million, from
RM12.85 million a year ago. Rev-
enue inched up 0.10% to RM37.07
million from RM37.03 million pre-
viously.
For the six months ended June
30, 2019, its net profit declined
21.97% year-on-year to RM3.43
million from RM4.40 million,
as revenue dropped 20.25% to
RM16.04 million from RM20.11
million.
Shares in Tex Cycle were not
traded yesterday. On Tuesday, the
counter closed at 38.5 sen, with a
market capitalisation of RM98.63
million. Over the past one year, the
stock has retreated 35.83%.
awarded the contract following an
amendment to the letter of con-
tract on Aug 16, and only received
approval from Petronas Carigali
to release the news on Tuesday.
The contract commenced on Aug
17 and will continue for 730 days
from that date, said Icon Offshore.
The group noted that the con-
tract is expected to positively con-
tribute to its earnings and net as-
sets for the financial year ending
Dec 31, 2019 and beyond.
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
‘No big impact
from Sime Darby’s
car dealership buy’
But this will expand the company’s footprint in Australia
BY A H M AD NAQ I B I D RI S
KUALA LUMPUR: While Sime
Darby Bhd’s proposed A$112 mil-
lion (RM321 million) acquisition
of three luxury car dealerships in
Sydney will undoubtedly expand
the group’s footprint in Australia,
analysts do not expect the move
to have a significant impact on its
earnings.
The group has proposed the ac-
quisition of the dealerships repre-
senting the BMW, MINI, Volkswa-
gen, Jaguar and Land Rover marques
from Trivett, the automotive retail
unit of Inchcape Australia Ltd.
Kenanga Investment Bank an-
alyst Wan Mustaqim Wan Ab Aziz
said the acquisition is a net positive
in terms of increasing sales volume,
but does not expect it to have much
impact on the group’s total earnings.
“Sales volume will grow, but in
terms of contribution to the group,
the acquisition will likely have a
neutral effect. [The sales from the
three dealerships] would likely
account for less than 1% of Sime
Darby’s annual sales and earnings.
“However, in terms of expan-
sion, it is a positive move for the
group,” he told The Edge Finan-
cial Daily.
Sarawak Cable gets CDRC
help to mediate with its lenders
BY EM I R ZA I NU L
KUALA LUMPUR: Loss-making
Sarawak Cable Bhd (SCable) said
it had received approval from the
Corporate Debt Restructuring
Committee (CDRC) to help the
company and certain of its sub-
sidiaries to resolve debt issues
with their respective lenders.
This follows a report by The Edge
Malaysia weekly on Monday that
SCable had sought assistance from
CDRC, which comes under the
purview of Bank Negara Malaysia,
to better manage its borrowings.
SCable said notwithstand-
ing this, the operations of the
company and its subsidiaries
will remain as usual.
In a bourse filing yesterday,
SCable said it received a letter on
Aug 7 from CDRC approving the
company’s application for assis-
tance to mediate with its creditors.
“This is part of the company’s
Hong Leong Investment Bank
Bhd analyst Daniel Wong said he
does not expect the acquisition
to have a significant impact on
the group’s performance going
forward.
“I can’t really say much in terms
of numbers, since no details were
given. Generally, I don’t expect the
acquisition to contribute materially
to the group,” Wong told The Edge
Financial Daily.
He added that China is still the
biggest market for the group’s auto
business and pointed out that the
business there is still facing com-
pressed margins, coupled with pes-
simistic sentiment amid the ongo-
ing trade war with the US.
For the financial year ended
June 30, 2019 (FY19), Australia
accounted for about 14% of the
group’s motor division revenue,
while China accounted for 43%,
the biggest contributor among the
markets Sime Darby is present in.
The group posted a 13% increase
in net profit to RM184 million for
the fourth quarter of FY19, from
RM163 million in the previous year,
while revenue grew to RM9.32 bil-
lion from RM8.58 billion.
For the full year, net profit stood
at RM948 million, down 49% from
Flashback: Sept 9, 2019
Sarawak Cable seeks CDRC assistance
B Y J OS E B A R R O C K
S
arawak Cable Bhd is un-
derstood to have sought
assistance from the Cor-
porate Debt Restructuring
Committee (CDRC) to bet-
ter manage its borrowings.
It is understood that while the
company has yet to make an an-
nouncement pertaining to the
matter, some of its creditors are
already aware of its decision.
In a nutshell, the CDRC is a
pre-emptive measure by the gov-
ernment to provide a platform
for corporate borrowers and their
creditors to resolve debt issues
without having to resort to legal
proceedings.
Sarawak Cable managing di-
rector Datuk Ahmad Redza Ab-
dullah, who was abroad when
contacted by The Edge, confirmed
the assistance and admission
to CDRC, saying, “[Yes,] we are
admitted into CDRC. We’re cur-
rently working on a [restructur-
proactive effort in managing its
debt exposure to safeguard [the
company and certain of its sub-
sidiaries], whose core businesses
are still viable.
“Further announcements will be
made in due course as and when
appropriate,” it added.
Earlier, The Edge Malaysia weekly
of this. What we need is some
breathing space.”
Ahmad Redza was appoint-
ed as executive director of Sar-
awak Cable in January last year
and subsequently as MD in mid-
March the same year.
Meanwhile, Sarawak Cable is
understood to have appointed
EY to help with its restructuring.
A check on its annual report
indicates that its principle bank-
ers are AmBank (M) Bhd, Bank of
China (M) Bhd, Bank Muamalat
Malaysia Bhd, CIMB Bank Bhd,
Export-Import Bank of Malaysia
Bhd and Hong Leong Bank Bhd,
among others.
One source familiar with the
matter says, “If I am not mistaken,
the CDRC involvement (assistance)
in Sarawak Cable commenced last
month, in August.”
Another source questions
whether the shareholders are
aware of the company’s plan to
involve the CDRC to help restruc-
ture its debts.Whether Sarawak
RM1.92 billion in the previous
year, while revenue increased 7%
to RM36.16 billion from RM33.83
billion.
In a filing with the bourse yes-
terday, Sime Darby said the pro-
posed acquisition involves the
purchase of business assets and
properties of the three luxury car
dealerships, with definitive agree-
ments entered into by its whol-
ly-owned subsidiaries under Sime
Darby Motors Sdn Bhd (SD Mo-
tors) and Trivett.
“The proposed acquisition is
aligned to SD Motors’ strategy of
expanding in the Australian retail
luxury segment and will strength-
en SD Motors’ presence and brand
visibility in Parramatta, which is
one of Sydney’s most recognised
automotive retail locations,” said
the group.
Sime Darby expects to complete
the proposed acquisition by early
December 2019, upon obtaining
the relevant approvals, including
written consent from the Foreign
Investment Review Board of Aus-
tralia as well as the brand principals.
Sime Darby’s share price fell two
sen or 0.85% to close at RM2.32 yes-
terday, with a market capitalisation
of RM15.78 billion.
had quoted SCable managing di-
rector Datuk Ahmad Redza Abdul-
lah as saying that the company was
working on a restructuring propos-
al with its advisers, but there would
be no haircut for its borrowings.
KENNY YAP/THE EDGE
office building, a one
It was also reported that SCa-
teen and other ancilla
erected for a cash co
of RM65 million to M
Manufacturing Sdn B
ly-owned subsidiary o
ble had appointed EY to help with
Corp Bhd.
In its announcem
sale of the assets, S
ble says the propos
the restructuring.
is to strengthen the
liquidity and cash flo
by raising cash proce
for working capital
According to its annual report,
business segments w
opportunities.
It adds that the p
RM65 million is an att
SCable’s principle bankers are
We believe we
AmBank (M) Bhd, Bank of China
mium over the latest
book value of the pr
can come out of the company stands
this. What we estimated net gain
of about RM18.7 mill
need is some
breathing space.”
— Ahmad Redza
The RM65 million p
also be used to procur
rials such as copper ro
ium rods, steel plates
(Malaysia) Bhd, Bank Muamalat
zinc blocks and opti
Malaysia Bhd, CIMB Bank Bhd,
Export-Import Bank of Malaysia
Bhd and Hong Leong Bank Bhd.
As at end-June, SCable’s cash
and bank balances stood at
RM27.05 million, while its short-
and long-term debt commitments
totalled RM505.64 million and
RM101.22 million respectively.
SCable shares closed up one
sen or 3.7% at 28 sen yesterday,
bringing a market capitalisation
of RM88.77 million.
Performance of Industrial Production Index
10
(%)
8
6 5.1
4.1
4 3.4
2.7
2 3.2
2.5 1.4
0
Jan March May
2018
Source: Department of Statistics Malaysia
‘Weak July industrial output
growth a temporary blip’
BY SYAHIRAH SYED JAAFAR
KUALA LUMPUR: Malaysia’s in-
dustrial output growth slowed to
1.2% year-on-year (y-o-y) in July,
its weakest pace so far this year,
pulled down by a sharp decline in
mining activity amid weak crude
oil output.
Industrial Production Index
(IPI) growth accelerated to 3.9%
y-o-y in June.
Department of Statistics Ma-
laysia chief statistician Datuk
Seri Dr Mohd Uzir Mahidin said
the output of manufacturing and
electricity saw an increase of 4%
and 2% y-o-y respectively, in July.
The gains, however, were offset
by an 8.4% y-o-y contraction in
mining output.
“The decline [in the mining
sector index] was due to the de-
crease in the crude oil and con-
densate index of 22.7%. Mean-
while, natural gas index increased
by 7.3%,” he said in a statement
yesterday.
In a separate statement, the
department announced that the
country’s manufacturing sales
grew 6% y-o-y in July to RM74.2
billion from RM70 billion a year
ago. On a month-on-month ba-
sis, the sales value was up 5.1%
or RM3.6 billion.
Mohd Uzir said the growth
was driven by the increase in
non-metallic mineral products,
basic metal and fabricated met-
al products (7.4%), petroleum,
Hubline buys 75% of property
investment firm for RM16.4m
BY E M I R Z A IN UL
KUALA LUMPUR: Shipowner and
charterer Hubline Bhd is acquir-
ing a 75% stake in property invest-
ment company Absolute Privilege
Sdn Bhd for RM16.37 million to
secure tenancy for its dry bulk
operations.
In a filing with Bursa Malay-
sia yesterday, Hubline said it had
entered into an agreement with
Absolute Privilege’s director Pau
Chiong Ching for the acquisition
of all of his 1.5 million shares in the
company, representing a 75% eq-
uity interest, for RM16.37 million.
Absolute Privilege’s principal
assets are two pieces of land in
Miri, Sarawak, occupying 8,218.2
sq m and 6,074 sq m, worth
RM21.6 million and RM16.4 mil-
lion, respectively.
Hubline said it is acquiring
HOME BUSINESS 5
4.0 4.0 4.0 3.9
3.4
2.8
1.7 1.2
3.1
2.1 2.4 2.1
July Sept Nov Jan March May July
2019
chemical, rubber and plastic prod-
ucts (5.9%) and electrical and elec-
tronics products (5.8%).
RHB Investment Research econ-
omist Vincent Loo Yeong Hong
views July’s weak IPI reading as
a temporary blip caused by weak
crude oil output.
“Manufacturing activity remains
healthy and resilient, even in the
face of protracted US-China trade
frictions. This may be due to trade
diversions from companies in-
volved in the global supply chain
that are looking to diversification
to circumvent the trade tariffs,” he
said in a note to investors yesterday.
“Looking ahead, we maintain
our expectations for Malaysia’s
economic growth to moderate to
4.5% for 2019 and 4.3% in 2020,”
Loo added.
MIDF Research foresees IPI per-
formance to continue expanding at
a steady pace in the second half of
2019 (2H19) as the trade war factor
remains a major downside risk to
global trade activities and manu-
facturing production in particular,
as it has the highest weightage in
the overall IPI.
“For 1H19, IPI growth averaged
at 3.3% y-o-y. Based on the latest
macro trends and indicators, we
maintain our forecast figure at 2.9%.
The manufacturing sector, which
holds [about] 70% of IPI weight,
is expected to perform modest-
ly in 2H19 amid escalating trade
tensions and that could drag the
overall IPI performance this year.”
the stake in the company because
the warehouse and approximately
30% of the properties’ office space
are presently tenanted by its sub-
sidiaries for business operations
in dry bulk shipping.
“The space where the warehouse
is presently situated includes a
wharf along the Miri River which
is essential for the smooth opera-
tion of the dry bulk business to un-
dertake repairs and similar duties.
“Furthermore, as Pau is seeking
to dispose of his shares in Absolute
Privilege, there is a risk that the
future owner of the stake will dis-
continue or not extend the tenancy
of the properties upon its expiry.
“With the current shortage of
similar properties which match
our specific requirements in the
area, Hubline has decided to take
the majority stake in Absolute Priv-
ilege,” Hubline added.
6 HOME BUSINESS
1MDB-Tanore trial postponed
as Najib is on medical leave
This is the second time during his trials that he is said to be down with conjunctivitis
1MDB-TANORE
TRIAL
BY A DA M A ZI Z
KUALA LUMPUR: Datuk Seri Najib
Razak’s trial (1MDB-Tanore trial)
involving 25 counts of abuse of
power and money laundering in-
volving funds from 1Malaysia De-
velopment Bhd (1MDB) has been
postponed to Tuesday as the former
prime minister is on two days of
medical leave (MC) due to another
bout of conjunctivitis.
Deputy public prosecutor Ah-
mad Akram Gharib confirmed
with The Edge Financial Daily
that Najib had obtained the MC
for yesterday and today due to
the eye infection.
Earlier yesterday morning, the
ex-prime minister’s lawyer Tan Sri
Muhammad Shafee Abdullah told
the High Court that Najib is expect-
Saudi businessman tests US jurisdiction
over 1MDB-linked asset
BY ED WARD PETTERSSON
LOS ANGELES: Federal prosecutors
in Los Angeles have been work-
ing for three years to recover assets
around the world that were alleged-
ly acquired with billions of dollars
stolen from Malaysia’s 1Malaysia
Development Bhd (1MDB) fund by
people associated with former prime
minister Datuk Seri Najib Razak.
But the question whether the
civil forfeiture lawsuits for overseas
assets, acquired by foreigners with
Malaysian money, actually belong
in a Southern California courtroom
has yet to be resolved.
Tarek Obaid, a businessman with
dual Saudi and Swiss citizenships,
would have gone to court yesterday
to argue that a Los Angeles-based fed-
eral judge does not have jurisdiction
to order the seizure of his shares in
Palantir Technologies Inc allegedly
bought with 1MDB-linked funds.
The outcome of Obaid’s chal-
lenge before the US Court of Ap-
peals in Pasadena, California, will
be closely watched by Low Taek
Jho, the Malaysian financier better
known as Jho Low, and Riza Aziz,
Najib’s stepson, who are fighting
the Justice Department’s attempts
to seize their properties in London.
Some of Najib’s supporters from Pekan waiting for the former premier to arrive at the
Kuala Lumpur Court Complex yesterday morning. They had left Pahang at 1am and
travelled for four hours to meet him. Photo by Shahrin Yahya
ed to miss today’s hearing as well
due to his condition.
“I had a call at 7.15am (yester-
day) from the client and the wife.
The news is that the conjunctivitis
has returned and the haze does
not help.
“Conjunctivitis is very infec-
tious. I suspect that the hearing
tomorrow (today) is out of the
question,” Muhammad Shafee told
The US has brought 30 forfeiture
lawsuits seeking real estate, invest-
ments, art and jewellery valued at
US$1.7 billion (RM7.1 billion) that
Jho Low, the alleged mastermind
behind the looting of 1MDB, and his
accomplices bought. The lawsuits
were put on hold in 2017 so they
would not interfere with a separate
criminal investigation, but Obaid
was allowed to appeal a ruling that
let the forfeiture case against him to
go ahead in Los Angeles.
US District Judge Dale Fischer said
last year, when she denied Obaid’s
request to dismiss the lawsuit, that
there was “substantial ground for
disagreement” whether Los Angeles
was the proper venue. Specifically,
the judge expressed concern that
the “branch” of the 1MDB money
laundering conspiracy the Justice
Department linked to Southern Cali-
fornia was not the same as the one in
which Obaid allegedly received funds
he used to buy the Palantir shares.
The US claims the 1MDB money
was laundered through shell com-
panies with bank accounts in the US
and abroad. The money was used to
invest in assets in the US and overseas,
according to the Justice Department.
Obaid’s role in the 1MDB scandal
pertains to an early phase of the al-
High Court Justice Collin Lawrence
Sequerah.
Meanwhile, the prosecution and
defence could not accommodate
Judge Sequerah’s request to resume
hearing on subsequent Fridays in
lieu of Najib’s sick leave as they
will have other cases to attend to.
Najib’s hearing is currently
scheduled from Mondays to Thurs-
days in September and October.
leged conspiracy. Soon after 1MDB
was created in 2009, as a govern-
ment-owned development company,
Jho Low arranged a meeting aboard
a yacht off the coast of Monaco be-
tween Najib, who is identified as “Ma-
laysian Official 1” in court filings and
Obaid, according to US prosecutors.
They were to discuss a joint venture
between 1MDB and Obaid’s compa-
ny PetroSaudi International.
Also present was Prince Turki
Abdullah, a PetroSaudi co-founder
who was swept up in an anti-corrup-
tion crackdown in Saudi Arabia two
years ago, prosecutors said.
After the meeting Jho Low emailed
his parents, brother and sister: “Just
closed the deal with PetroSaudi.
Looks like we may have hit a gold
mine,” according to court filings.
Of the US$1 billion 1MDB initial-
ly invested in the joint venture with
PetroSaudi in 2009, US$700 million
immediately disappeared in a bank
account controlled by Jho Low, ac-
cording to the US. Obaid received
US$153 million of the diverted money
in the following months, the US claims.
Obaid’s US$2 million investment
in preferred stock of Palantir Tech-
nologies, a private data-mining com-
pany co-founded by Silicon Valley
billionaire Peter Thiel, came from
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
As the coming Monday is a public
holiday in conjunction with Malay-
sia Day, those who follow the trial
can expect it to resume on Tuesday.
This is the second time during
Najib’s trials that he is said to be
down with conjunctivitis. The
first time was in August, during
the trial involving SRC Interna-
tional Sdn Bhd. He was given a
three-day sick leave then.
Yesterday, about 100 Najib sup-
porters from his parliamentary con-
stituency of Pekan, Pahang came to
see him at the court complex here.
According to Pekan Umno youth
committee member Hussein Ah-
mad, the contingent — led by Chini
state assemblyman Datuk Seri Abu
Bakar Harun — left Pekan at 1am
in two buses and five cars, arriv-
ing at 5am.
Follow the
trial live as
it unfolds at
theedgemarkets.
com/najibs-
1mdb-trial-
reporting or
by scanning this
QR code
the funds he received from Jho Low,
according to federal prosecutors.
Obaid said in his appeal that he
“vigorously disputes” the govern-
ment’s vague attempts to tie him to
the alleged conspiracy.
“Obaid’s alleged misconduct has
nothing to do with California,” ac-
cording to his appeal. “There is no
allegation that Obaid knew or had
any reason to know that any acts in
furtherance of the alleged conspir-
acy occurred in California, such as
to make it foreseeable to Obaid that
he could be hauled into court there.”
Lawyers representing Jho Low’s
London property argued that the
outcome of Obaid’s appeal will have
a profound impact on their ability
to challenge Los Angeles as a prop-
er venue. They said the Justice De-
partment has failed to establish a
connection between Southern Cal-
ifornia and the London acquisition.
The government’s assertion of
venue in these cases rests on an un-
precedented legal theory: That acts
in a district in furtherance of one
conspiracy are sufficient to give rise
to the forfeiture of, and thus to confer
venue over, assets that are alleged-
ly the proceeds of another, entirely
separate and distinct conspiracy,”
Jho Low’s lawyers said. — Bloomberg
Jamaluddin Jarjis
had fallout with
daughter, says
half-brother
BY A DA M A Z IZ
KUALA LUMPUR: The late Tan Sri
Dr Jamaluddin Jarjis had a fallout
with his eldest daughter Nur Anis
Jamaluddin in 2013 over the con-
trol of the Teras Dara Konsortium
Sdn Bhd (TDK) group of compa-
nies which the former minister
owned, the High Court here was
told yesterday.
Jamaluddin’s half-brother Mo-
hamad Najeb Ali told Justice Datuk
Mohd Firuz Jaffril that Nur Anis was
not involved in the management
of the companies owned by her fa-
ther, until after his passing in 2015.
Mohamad Najeb is the first
witness in the court hearing of
the inheritance dispute between
Jamaluddin’s children Nur Anis
and Ikhwan Hafiz and their grand-
mother Aminah Abdullah. Aminah
is Jamaluddin’s mother.
The dispute involves RM1.36
billion worth of shares in three
companies under TDK — Ran-
tai Wawasan Sdn Bhd (RM1.044
billion), Alpine Motion Sdn Bhd
(RM233 million), and Ivory Insights
Sdn Bhd (RM80 million).
“Nur Anis never worked for the
company,” Mohamad Najeb told
Judge Mohd Firuz during the wit-
ness’ re-examination by lawyer
Pawancheek Merican, who rep-
resented Aminah.
“[Nur Anis] tried to put board
control on the management of her
[late] father’s companies. Her fa-
ther was not very happy. There was
a fallout in early 2013 [and] after
that, Nur Anis never came back
to work for the company [until
Jamaluddin’s passing],” Moham-
ad Najeb said.
Mohamad Najeb said this af-
ter lawyers Chew Chang Min and
Habizan Habeeb Rahman, who
represented Nur Anis and Ikhwan
Hafiz, produced Nur Anis’ emails
which discussed the management
of TDK.
According to Mohamad Najeb,
one of Jamaluddin’s associates
contacted Nur Anis and Ikhwan
Hafiz after Jamaluddin’s death,
to inform them of a presentation
session on all the companies un-
der the TDK group.
“If they know the companies,
there was no need for a presenta-
tion six days after [Jamaluddin]
died,” Mohamad Najeb said.
Mohamad Najeb’s claim was
met with expressions of shock by
Nur Anis and Ikhwan Hafiz, who
attended the hearing with other
family members.
However, Mohamad Najeb ac-
knowledged that Ikhwan Hafiz has
been involved with the companies
for some time, and that he had
been groomed by Jamaluddin to
take on a managerial role.
Mohamad Najeb also agreed
with Habizan’s suggestion that the
companies were well managed,
after Jamaluddin’s passing in 2015.
Aminah is asking the court to
declare that she is Jamaluddin’s
lawful mother, hence a beneficiary
of his estate and has an interest
in the shares of Rantai Wawasan,
Alpine Motion and Ivory Insights.
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HE ED G E FINA NCIA L DA ILY 7
8 ST O C KS W I T H M O M E N T U M
IRB applies for Tengku
Adnan’s tax case to be decided
through summary judgement
KUALA LUMPUR: The Inland Revenue
Board (IRB) has applied for its suit against
former federal territories minister Datuk
Seri Tengku Adnan Tengku Mansor, seek-
ing RM57.17 million in income tax arrears
for the period between 2012 and 2017,
to be decided via summary judgement.
Deputy High Court Registrar Idamasliza
Maarof set Dec 12 to hear the application
after the management of the case in her
chambers yesterday, attended by Senior
Revenue Counsel Norhisham Ahmad and
Al-Hummidallah Idrus, representing the
IRB, and Datuk Satharuban Sivasubrama-
niam, acting on behalf of Tengku Adnan.
The IRB applied for summary judge-
ment under Rule 14 of the Rules of Court
2012. A summary judgement is where
a court decides a case without hearing
testimony of witnesses.
Tengku Adnan, meanwhile, has ap-
plied for a stay of proceeding under Or-
der 92, Rule 4 of the Rules of Court 2012.
The court fixed Nov 15 for hearing of
the ex-minister’s application and Dec 12
for IRB’s application.
On July 24, the Malaysian government
filed a suit through the IRB in the High
Court naming Tengku Adnan, who is also
the former secretary-general of Umno.
In its statement of claim, the govern-
ment said Tengku Adnan still owed in-
come tax for the year of assessment 2012
until the year of assessment 2017 as stated
in the Notice of Assessment dated March
15, 2019.
Rise in IoT hardware spending benefits
semiconductor firms — Mida
KUALA LUMPUR: Steady increases
in Internet of things (IoT) hardware
spending will be a significant source
of revenue for the semiconductor in-
dustry in the future, as semiconductors
are the bedrock of technology, said the
Malaysian Investment Development
Authority (Mida).
In its August 2019 e-newsletter, Mida
said these days, it is nearly impossible to
find a device that does not rely on semi-
conductors.
For instance, it said autonomous vehi-
cles, one of the up-and-coming IoT appli-
cations, saw a 58% jump in semiconductor
revenues from 2016 to 2017.
“As the IoT continued to materialise,
other applications such as cloud-based
computing and artificial intelligence (AI)
will also see an increase in hardware spend-
ing, thus leading to an additional demand
for semiconductors,” it said.
Citing market research firm Gartner’s
statistics, Mida said there would be an es-
timated 20.4 billion smart devices in 2020,
while hardware equipment such as smart
devices are expected to account for 35% of
the total IoT market in 2020.
Meanwhile, Mida said the growing de-
mand for AI-based applications from var-
ious industries would create new growth
opportunities for semiconductor manu-
facturers.
“The industries include medical devices
and imaging technology, life sciences and
Stocks with momentum were picked up using a proprietary algorithm by Asia Analytica Data Sdn Bhd and first appeared at www.theedgemarkets.com.
Please exercise your own judgement or seek professional advice for your specific investment needs. We are not responsible for your investment decisions.
www.theedgemarkets.com
HOME BUSINESS
It said the Notice of Evaluation was
sent by registered post to the ex-minis-
ter on March 20 to his last address and
that the Notice of Appeal was received
and signed on March 22 by the return of
the yellow Registered Acceptance card.
The government claimed that because
Tengku Adnan failed to pay the income
tax amount from 2012 to 2017 within 30
days from the date of filing of the Notice
of Assessment stipulated under Section
103 of the Income Tax Act 1967, a 10%
tax increase was imposed.
The government said Tengku Adnan still
failed to pay the entire income tax amount
along with the 10% increase within the 60
days stipulated under Section 103, add-
ing that a further 5% tax increase would
be imposed on the defendant.
It claimed that the former minis-
ter still failed to pay the owed income
tax due, including a total increase of
RM57,167,069.35.
The total is RM64,444.38 (2012);
RM6,614,861.59 (2013); RM8,887,576.69
(2014); RM9,198,523.67 (2015);
RM5,520,818.05 (2016); and
RM26,880,844.97 (2017).
The government is therefore seek-
ing from Tengku Adnan a sum of
RM57,167,069.35, interest on the sum
of RM57,167,069.35 at a rate of 5% per
annum from the date of judgement to
the date of realisation, costs and other
relief deemed appropriate by the court.
— Bernama
biotechnology, clean and green technology,
as well as information and communications
technology,” it said.
It said the rapidly expanding automotive
market would also provide ample oppor-
tunities for automotive semiconductors
to improve the connectivity, battery per-
formance in electric vehicles, enhanced
sensors, and other technologies.
“Similarly, the introduction of 5G
(fifth-generation) technology, which prom-
ises to provide data transmission speeds
over wireless broadband networks of up to
20Gbps, 20 times faster than 4G networks,
will also benefit the semiconductor indus-
try,” it said. Mida said it is estimated that by
2025, 5G infrastructure spending would hit
US$326 billion, with nearly 80% spent on
network infrastructure, which is essential
for 5G networks to operate smoothly.
Besides, it said the transition to smaller
and more current nodes in identity card
(IC) manufacturing would ensure that com-
panies producing ICs have a competitive
advantage by offering components with
increased power and performance.
However, it said the move presents a
challenge in terms of cost and resources
that the semiconductor industry needs
to address.
Overall, Mida noted that the semicon-
ductor industry is challenged with concerns
driven by innovation and technological
developments moving at a drastic pace.
— Bernama
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
Our shareholders, directors and employees may have positions in any of the stocks mentioned.
MAGNI-TECH INDUSTRIES BHD (+ve)
TRADING of shares in Magni-Tech Indus- lion compared with RM22.01 million a year
tries Bhd (fundamental: 2.8/3, valuation: ago. Quarterly revenue expanded 19.6% to
2.4/3) triggered our momentum algorithm
yesterday for the fourth time this year.
The stock closed 38 sen or 7.04% higher
RM327.33 million from RM273.74 million.
It attributed the higher revenue to its gar-
ment business, which accounted for 92.5%
at RM5.78. A total of 316,000 shares changed
hands compared with the average 107,353
and 96.8% of the group’s revenue and oper-
ating profit respectively for 1QFY20.
shares recorded in the past 200 days. The group also declared a single-tier in-
Magni-Tech achieved a 38.6% growth in terim dividend of seven sen per share, higher
net profit for the first financial quarter end- than the five sen declared for 1QFY19. The
ed July 31, 2019 (1QFY20) to RM30.51 mil- dividend is payable on Oct 25.
MAGNI-TECH INDUSTRIES BHD Valuation score* 2.40
Fundamental score** 2.80
TTM P/E (x) 8.56
TTM PEG (x) 0.69
P/NAV (x) 1.66
TTM Dividend yield (%) 4.26
Market capitalisation (mil) 878.35
Shares outstanding (ex-treasury) mil 162.66
Beta 0.67
12-month price range 3.86-5.44
*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
NOVA WELLNESS GROUP BHD (+ve)
TRADING of shares in Nova Wellness Group lion a year ago, on higher sales contribu-
Bhd (fundamental: N/A, valuation: N/A) tions from its house brand segment under
triggered our momentum algorithm yes- the functional food category, namely Activ-
terday for the first time this year. Max and Hepar-P. Revenue for the quarter
The stock closed half a sen or 0.92% higher rose 19% to RM9.63 million against RM8.06
at 55 sen. A total of 2.05 million shares were million a year ago. Improved quarterly earn-
traded compared with the average 294,039 ings lifted the full year’s net profit by 32%
shares recorded in the past 200 days. to RM10.94 million from RM8.3 million for
For the fourth financial quarter ended FY18, on the back of higher revenue which
June 30, 2019 (4QFY19), net profit jumped rose 17% to RM29.7 million for FY19 from
134% to RM5.64 million versus RM2.41 mil- RM25.3 million the previous year.
NOVA WELLNESS GROUP BHD Valuation score* -
Fundamental score** -
TTM P/E (x) 14.92
TTM PEG (x) -
P/NAV (x) 2.25
TTM Dividend yield (%) 4.22
Market capitalisation (mil) 173.17
Shares outstanding (ex-treasury) mil
Beta
317.74
1.10
12-month price range 0.29-0.55
*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
OCK GROUP BHD (+ve)
TRADING of shares in OCK Group Bhd (fun- chanical and electrical engineering services.
damental: 0.8/3, valuation: 1.1/3) triggered Revenue for the quarter was RM115.84
our momentum algorithm yesterday for the million, up marginally from RM115.55 mil-
second time this year. lion a year ago.
The stock closed four sen or 6.56% high- For the first half, net profit rose 32% to
er at 65 sen. A total of 28.66 million shares RM12.33 million compared with RM9.35
were traded compared with the average 4.51 million, on the back of higher revenue which
million shares recorded in the past 200 days. rose 3% to RM219.33 million from RM213.06
For the second quarter ended June 30, 2019, million a year ago.
the telecommunications network services pro- Despite a competitive telecommunica-
vider’s net profit jumped 66% to RM6.99 mil- tion industry landscape, OCK is expecting
lion versus RM4.22 million a year ago, mainly a positive growth trajectory for the group
due to higher revenue contributions from me- going forward.
OCK GROUP BHD Valuation score* 1.10
Fundamental score** 0.80
TTM P/E (x) 19.66
TTM PEG (x) 1.22
P/NAV (x) 1.17
TTM Dividend yield (%) -
Market capitalisation (mil) 531.60
Shares outstanding (ex-treasury) mil 871.47
Beta 0.88
12-month price range 0.41-0.62
*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
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Ditech paves way for US$1.8b sale
A deal reached with homeowners enables the mortgage servicer to pay creditors, exit bankruptcy
BY J O SH S AU L
NEW YORK: Bankrupt mortgage
servicer Ditech Holding Corp
cleared the way for the US$1.8
billion (RM7.52 billion) sale of its
businesses by agreeing on Tues-
day to preserve some homeowner
claims like the right to fix mistakes
on their loans.
The accord ends a dispute over
the sale, allowing Ditech to pay
creditors and exit bankruptcy. A
group of consumer creditors as well
as attorneys general from about a
dozen states objected to a previous
plan to offload the assets in “free
and clear” transactions. Those ar-
rangements would have stripped
homeowners of rights, including
Sun Hung Kai sells homes
cheap as HK protests persist
BY S H AW N A KWA N
HONG KONG: Sun Hung Kai Prop-
erties Ltd, Hong Kong’s biggest de-
veloper, is offering new homes at a
discount to entice buyers amid the
worsening political crisis.
The first batch of units in the Kow-
loon development Cullinan West III
are priced at HK$21,722 (RM11,566)
per sq ft, or 20% lower than current
market levels in the area. The pric-
ing is described by the developer as
“travelling back in time” — it is close
to the price set two years ago for the
first phase of the same development
even though home values have risen
8% in the period.
“Recent social events and the
US-China trade war have height-
ened some buyers’ wait-and-see
attitude,” Victor Lui, deputy man-
aging director at the company, said.
Months-long anti-government
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those that could help them save
their homes from wrongful fore-
closures, the New York attorney
general’s office wrote in its objec-
tion to the sale.
Late last month, the federal judge
overseeing the case sided with con-
sumers and state authorities and
rejected the sale. The bankruptcy
court still needs to approve the new
deal as part of Ditech’s bankruptcy
plan. A hearing is slated for Sept 25.
“It’s an improvement over the pri-
or plan and that’s good and maybe
it’s the best that can be done under
the circumstances,” said Seton Hall
University professor Stephen Lub-
ben. “My concern is still that people
would have a hard time getting their
mortgage statements corrected.”
protests have put more property
buyers on the sidelines and sales
have been hit across the board. The
transaction value for new luxury
homes slumped 31% in July to an
eight-month low, data from Cen-
taline Property Agency Ltd show.
Monthly rents for ultra-luxury res-
idences have fallen by around the
same amount, the South China
Morning Post reported on Tues-
day, citing Landscope Christie’s
International Real Estate.
What began as protests against
now-withdrawn legislation that
would have allowed extraditions
to mainland China have grown
into demonstrations for wider de-
mocracy.
With Chief Executive Carrie Lam
refusing to satisfy protesters’ de-
mands other than officially killing
the controversial bill, the unrest
looks set to linger. — Bloomberg
Print + Digital
(12 months)
$169$3.25 per week
4,000 complaints
After negotiations this month,
Ditech and the consumer credi-
tor group reached an agreement
that creates a US$10 million fund
for claims holders and requires the
appointment of a special master
to hear consumer claims, Ditech
lawyer Ray Schrock said in court.
The sale does not ratify mistakes
in mortgage accounts and both
Ditech and the new buyers have
committed to investigating account
misstatements and correct them.
“If your account is overstated,
the sale will not prevent the con-
sumer borrowers from challenging
the amounts due,” consumer cred-
itor group lawyer Victor Noskov
said in court.
Anbang sells luxury hotels to S Korea’s Mirae for US$5.8b
BY GILLIAN TAN & PATRICK CLARK
NEW YORK: Anbang Insurance
Group Co has agreed to sell a lux-
ury hotel portfolio for a little more
than US$5.8 billion (RM24.24 bil-
lion) to South Korea’s Mirae Asset
Management Co, marking the end
of the Chinese insurer’s short-
lived investment in the properties.
Mirae posted a 10% deposit on
the portfolio this week, according
to a person familiar with the mat-
ter who asked not to be named
because the details are private.
The parties were nearing a sale
last month, as Bloomberg News
reported at the time. Irregulari-
ties in the deeds to some of the
properties delayed the sale, ac-
cording to the Wall Street Journal.
Anbang bought the properties’
owner, Strategic Hotels & Resorts
Inc, from Blackstone Group Inc
for about US$5.5 billion in 2016.
The deal was part of a global buy-
ing spree that made Anbang em-
*Subscription to The Edge Collection is non-cancellable and non-refundable.
Visit our website or subscribe via hotlinespore@bizedge.com
Ditech has signed agreements to
sell its mortgage servicing rights to
New Residential Investment Corp
— which is managed by Fortress
Investment Group LLC — for just
over US$1 billion and its reverse
mortgage business to Mortgage
Assets Management LLC, which is
affiliated with Waterfall Asset Man-
agement LLC, for about US$762
million, according to a court filing.
More than 4,000 homeowners
have filed complaints to federal
agencies regarding Ditech over the
past year, including allegations that
it failed to properly credit payments
and wrongly foreclosed on their
homes. Ditech lawyers argued in
court last month that the buyers
would only complete the transac-
Filepic of the Westin St Francis, one of the luxury hotels included in the portfolio
Anbang sold to Mirae, in San Francisco, California, the US. Photo by Bloomberg
blematic of China’s unbridled appe-
tite for international trophy assets.
That era ended when Chinese au-
thorities seized control of Anbang
and later sentenced chairman Wu
Xiaohui to 18 years in prison.
The properties include the Wes-
tin St Francis in San Francisco, the
P R O P E RT Y 9
tions if they were unencumbered
by consumer claims.
Homeowners alleging they were
wronged by the company include a
Staten Island man who says Ditech
refused to apply a 2017 mortgage
payment and an elderly woman in
Long Island who claims the com-
pany began foreclosure proceed-
ings for failure to pay property tax-
es even though it knew she had a
repayment plan with her town to
catch up, according to the New
York attorney general’s objection.
Ditech filed for bankruptcy in
February with a plan to cut more
than US$800 million in debt and
continue operations as it sought
options that included a sale of the
company. — Bloomberg
Loews Santa Monica Beach Hotel,
the JW Marriott Essex House in
New York, and the Four Seasons
in Jackson Hole, Wyoming. Sepa-
rately, Anbang still owns the famed
Waldorf Astoria hotel in Manhat-
tan from a US$1.95 billion deal in
2015. — Bloomberg
10 H O M E
Ruling on native custom stands
Iban villagers lose bid to review apex court decision
PUTRAJAYA: Iban communities
from two villages in Sarawak have
lost their bid to review the Federal
Court’s ruling that their native cus-
tom has no force of law in Sarawak.
In a 4-1 majority decision by the
five-member bench, it held that
there was no basis for a new panel
of the Federal Court to review the
earlier decision of the court.
Chief Judge of Malaya Tan Sri
Azahar Mohamed and Federal Court
judges Datuk Alizatul Khair Osman
Khairuddin, Tan Sri Idrus Harun and
Datuk Mohd Zawawi Salleh decided
the majority decision while Chief
Judge of Sabah and Sarawak Tan
Sri David Wong Dak Wah dissented.
In his 29-page judgement, Justice
Azahar said the grounds for review,
submitted by counsels representing
Tuai Rumah Sandah Tabau and Siew
Ak Libau respectively in Kanowit
and Sibu that the Federal Court's
earlier decision had erred in law
and had made various obvious er-
Lawyer not allowed to
intervene in AG’s bid to
remove parts of affidavit
BY H AF I Z YATI M
KUALA LUMPUR: Lawyer Mohd
Haniff Khatri Abdulla was not al-
lowed by the High Court to in-
tervene in the Attorney-Gener-
al’s Chambers’ move to expunge
portions of an incendiary affidavit
by a senior judge alleging judicial
interference in the late Karpal Sin-
gh’s sedition conviction.
The affidavit by Court of Ap-
peal Judge Datuk Dr Hamid Sul-
tan Abu Backer contains sever-
al claims that support lawyer
Sangeet Kaur Deo’s application
against the chief justice (CJ) to
declare that the latter failed to de-
fend the judiciary after the judge
revealed alleged interference in
her late father Karpal’s sedition
case last year.
The affidavit also forms the ba-
sis for the government’s decision
to form a Royal Commission of
Inquiry to investigate the allega-
tions of interference.
Justice Datuk Mohd Firuz Jaf-
fril in his decision said the lawyer
had not shown how he would be
affected by this case.
Hence, the court ruled that he
had not shown the legal reason to
be a party in the suit.
Furthermore, Mohd Firuz said
when the case came up and legal
representatives of Hamid came to
court, they did not indicate then
that they wanted to intervene in
the matter.
“For the above reasons, the
court dismisses the application,”
said the judge.
Hamid was represented by law-
rors, was not a valid and legitimate
basis to seek a review of the Federal
Court decision.
He said it was not for the Federal
Court review panel to resolve wheth-
er the earlier panel in the same case
had interpreted or applied the law
correctly or not for that it was a mat-
ter of opinion.
Justice Azahar said the Federal
Court had decided the three ap-
peals with a 3-1 majority and was
not a 2-2 decision as claimed by
the applicants.
He said even though at the time
of delivery of judgement, Justice
Tan Sri Abdull Hamid Embong had
retired, there was no dispute that
the judgement of the Federal Court
was delivered by the remaining four
judges pursuant to section 78 (1) of
the Courts of Judicature Act 1964.
“Therefore, at the time when the
judgement of the Federal Court was
pronounced, the Federal Court was
properly constituted and the judge-
yers Datuk Joy Appukuttan and
Haniff.
Following this, Mohd Firuz
fixed Oct 2 to hear Sangeet’s suit.
Sangeet informed The Edge Fi-
nancial Daily of yesterday’s decision.
Haniff wanted to intervene as
his client had affirmed an explo-
sive affidavit in Sangeet’s suit al-
leging misconduct of top judges
and judicial interference in the
deceased lawyer’s sedition case
and would also like to see the
judiciary investigated for these
claims.
His affidavit states that initially,
the judges of the Court of Appeal
wanted to acquit the late Karpal of
sedition but were influenced by sen-
ior judges to convict the former DAP
chairman and reduced his sentence
to a fine via a majority decision.
The Court of Appeal judge had
additionally claimed that he was
reprimanded by a senior judge for
dissenting in the M Indira Gandhi
conversion case.
Subsequently, his dissenting
judgement in the Court of Appeal
was accepted as the unanimous
decision in the Federal Court,
when the apex court quashed the
conversion of Indira Gandhi’s chil-
dren to Islam.
Sangeet filed the suit during the
tenure of previous CJ Tan Sri Rich-
ard Malanjum over the allegations
that senior judges then had tried to
influence the case, leading to her
father’s conviction being upheld
by the Court of Appeal.
The new CJ, who was appointed
this year, is Tan Sri Tengku Mai-
mun Tuan Mat.
ments delivered cannot constitute
a nullity,” he said.
He said although one of the three
judges declined to answer the ques-
tions of law, it cannot be denied that
for varying reasons the three judg-
es, forming the majority, decided
to allow the three appeals by the
respondents in the case.
The applicants’ counsel had sub-
mitted that there was a hung deci-
sion as the Federal Court's earlier
panel was split 2-2 in its decision
since one judge had retired and
the other judge did not answer to
the legal questions.
Justice Azahar said the appli-
cants’ claim to question the com-
position of the panel of judges of
the earlier Federal Court panel was
without any merit, noting that they
had not raised an objection to the
composition of the panel then.
The applicants had contended
that the composition of the earlier
Federal Court panel that heard the
Checks in Shah Alam showed that pharmacies are reporting brisk sales of face masks in
the past few days. Photo by Bernama
Wear the right facemasks
— Selangor health dept
SHAH ALAM: Children, senior cit-
izens and people with respiratory
problems in particular are advised to
wear the right type of face masks for
protection from the worsening haze.
Selangor director of health Da-
tuk Dr Khalid Ibrahim said two
types of face masks being sold in
the market are the surgical mask
and the N95.
“Apart from wearing face masks
outdoors, we are also advised to
drink at least eight glasses of water,
and wash our hands with soap and
clean water after being involved in
outdoor activity.
“Physical activity outdoors should
also be reduced,” he said when con-
tacted by Bernama yesterday. Checks
in Shah Alam showed that pharma-
cies are reporting brisk sales of face
masks in the past few days.
Surgical masks were being sold
for between RM3.80 and RM4 for
a pack of 10 pieces.
The domestic trade and con-
sumer affairs ministry’s Selangor
branch has warned traders not to
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
appeals did not have a judge with
Bornean judicial experience there-
by contravening paragraph 26 (4) of
the Inter-Governmental Committee
Report (IGC) 1962 read with Article
8 of the Malaysia Agreement.
He said there was no valid reason
to depart from the Federal Court
decision in Keruntum Sdn Bhd vs
Director of Forests & Ors case where
the Federal Court held that a litigant
cannot enforce the recommenda-
tion under paragraph 26 (4) of the
IGC that a case originating from
the Borneo states should comprise
of at least one judge with Bornean
judicial experience.
He also said that there must be
a finality in litigation.
Justice Wong, in his 49-page
judgement, had allowed the review
applications and ordered the ap-
peals to be reheard before another
panel of judges, one of which must
be a judge cloaked with Borneo ju-
dicial experience. — Bernama
take advantage of the current hazy
conditions by indiscriminately rais-
ing the prices of five types of face
masks, which are categorised as a
controlled item.
The five types of face masks are
the single-ply (ear loop) face mask
(medical/surgical), the two-ply (ear
loop) face mask (medical/surgical),
the three-ply (ear loop) face mask
(medical/surgical), the three-ply
(tie on) face mask (medical/surgi-
cal) and the N95 face mask.
According to the Metrologi-
cal Department website, the Air
Pollutant Index (API) as of 2pm
in Selangor showed unhealthy air
quality in Shah Alam with an API
of 145, followed by Klang (137),
Banting (133), Johan Setia, Klang
(183), Petaling Jaya (142) and Kuala
Selangor (133).
An API reading of between 0 and
50 is good, followed by 51 to 100
(moderate), 101 to 200 (unhealthy),
201 to 300 (very unhealthy), and
301 and above which is deemed
hazardous. — Bernama
Terengganu
drafting rules
on attire
for athletes
KUALA TERENGGANU: The
Terengganu government is
drafting guidelines on syari-
ah-compliant attire and con-
duct for athletes.
State Youth Development,
Sports and Non-Government
Development Committee
chairman Wan Sukairi Wan
Abdullah said the guidelines
would not only cover aspects of
syariah-compliant sportswear,
but also how athletes socialise
and conduct themselves dur-
ing events.
The state government was
now seeking feedback on the
matter from sports associ-
ations, academics, and the
state mufti, Wan Sukairi said.
“When we have finally got
the right syariah-compliant
attire, we will enforce the
guidelines,” he told report-
ers after attending a syari-
ah sports workshop here on
Tuesday.
Wan Sukairi said the state
government was forced to
withdraw from several sports
events it considered totally
against Islamic requirements,
and named rhythmic gymnas-
tics and women's gymnastics
as two of them, adding that
those sports exposed the ath-
letes’ bodies and movements
considered indecent for the
spectators. — Bernama
Yeo’s suit
against Jamal
most likely to
end amicably
KUALA LUMPUR: The defama-
tion suit filed by Energy, Green
Technology, Science, Climate
Change and Environment Min-
ister Yeo Bee Yin against Sun-
gai Besar Umno division chief
Datuk Seri Jamal Md Yunos in
connection with the Yayasan
Warisan Anak Selangor (Yawas)
fund will most likely be settled
amicably.
Lawyer Mohammed Nasser
Yusof, representing Jamal, told
reporters that he would review
the terms of the settlement of-
fered by Yeo on Sept 3.
“If there is a solution we will
submit notice to the court (for
further action), otherwise, the
trial will be heard on March
5 and 6 and April 20 and 21
next year,” he said after case
management before Judge Da-
tuk Nik Hasmat Nik Mohamad
yesterday.
Yeo, who is also Bakri mem-
ber of parliament, claimed that
Jamal’s statement, among oth-
ers, gave the impression that
she had abused public funds
for personal use and painted
her as an unethical and un-
reliable person. — Bernama
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
MAHB’s passenger
traffic momentum
seen boosting revenue
Malaysia Airports Holdings Bhd
(Sept 11, RM8.50)
Maintain buy with an unchanged
target price (TP) of RM9.43: Au-
gust 2019 passenger traffic of Malay-
sia Airports Holdings Bhd’s (MAHB)
airports (excluding Istanbul Sabi-
ha Gokcen International Airport
[ISGA]) increased by 9.2% year-on-
year (y-o-y) to 9.2 million passen-
gers. This is the highest passenger
traffic recorded thus far in 2019 and
marks the third consecutive month
in which traffic was above nine mil-
lion passengers. On a cumulative
basis, passenger traffic of airports
in Malaysia in the first eight months
of 2019 (8M19) increased by 5.6%
y-o-y to reach 69.6 million, making
up 68% of our financial year 2019
(FY19) passenger traffic growth
estimate of 102.5 million.
For the ISGA, international pas-
senger traffic soared 17.5% y-o-y
to reach 1.4 million in the same
month, outweighing the 5.4% y-o-y
decline to two million in domestic
passenger traffic. This brought the
ISGA’s overall passenger growth in
8M19 to 2.9% y-o-y after hitting 23.5
million in passenger traffic. The
catalyst for the international sec-
tor was the geographical location
of ISGA situated near the Istanbul
city. Overall, MAHB’s total cumu-
lative passenger traffic (including
ISGA) grew by 4.9% y-o-y to 93.1
million in 8M19.
Domestic traffic of airports in
Malaysia in August continued its
upward trend, increasing by 14.8%
y-o-y to 4.7 million passengers,
surpassing the peak reached in De-
cember 2018. We note that year-on-
year growth has been registered
for domestic traffic for the 10th
consecutive month. The bulk of
the growth in August was attrib-
utable to a 18.8% y-o-y jump in
domestic traffic of Kuala Lumpur
International Airport’s Main Ter-
minal. We attribute the growth in
Eversendai’s recent job wins within estimates
Eversendai Corp Bhd
FYE DEC (RM MIL) 2017
Revenue 1,811.5
Ebitda 186.9
Dep & amortisation (50.4)
Net finance cost (32.1)
PBT 104.5
Taxation (9.2)
MI 1.5
Net profit 93.8
Core net profit 88.8
GDPS (sen) 0.0
Dividend yield (%) 0.0
Source: TA Securities
B R O K E R S’ C A L L 11
Meaningful 5G iPhone
contributions to Inari
may start next year
Inari Amertron Bhd (sub-1GHz), mid (1GHz to 6GHz)
(Sept 11, RM1.73) and high (above 6GHz).
Maintain hold with a higher fair Recall that the long-standing
value (FV) of RM1.59: We maintain feud between Apple and Qual-
our “hold” call on Inari Amertron comm Inc was only settled in April,
Bhd with a higher FV of RM1.59 a leaving Apple with less than suf-
share. We roll forward our valuation ficient time to incorporate Qual-
from forecast financial year 2020 comm’s 5G modem in its latest iP-
Malaysia Airports Holdings Bhd to a forecast calendar year 2020 hones. Historically, Apple has also
price-earnings ratio of 17.5 times, been slower than its peers in terms
FYE DEC (RM MIL) 2017A 2018A 2019E 2020F 2021F while maintaining our earnings of adopting new cellular technol-
Revenue 4,172.8 4,593.40 4,786.10 5,240.8 5,481.9 forecasts. ogy, as seen during the transition
Apple Inc, at a keynote event from 3G to 4G.
Ebitda 1,709.9 1,919.60 2,383.50 2,201.1 2,412.0
in the Steve Jobs Theater, unveiled However, we opine that the ad-
Ebit/operating profit 857.4 1,038.80 1,496.10 1,562.8 1,543.7 three new models — the iPhone 11, dition of these frequency bands
PBT 183.3 338.8 780.6 734.5 802.7 11 Pro and 11 Pro Max. Pre-orders serves as an early sign leading up
Patanci 73.1 239.8 727.3 558.2 610.1 begin tomorrow with price tags of to the adoption of 5G in iPhones
Normalised Patanci 77.5 240.4 439.5 558.2 610.1 US$699 (RM2,922), US$999 and in 2020.
Normalised EPS (sen) 4.7 14.5 26.5 33.6 36.8 US$1,099 respectively. The latest iPhone line-up also
Normalised EPS The iPhone 11 replaces last features a new A13 processor which
growth (%) 775.7 210.0 82.8 27.0 9.3
year’s entry-level iPhone XR but promises better performance and
is priced US$50 lower. We deem that efficiency, providing up to five
PER (x) 183.4 59.1 32.4 25.5 23.3
Apple’s decision on a price reduc- hours of extra battery life compared
Dividend per share (sen) 10.0 13.0 14.0 14.0 14.0 tion is due to the underwhelming with the iPhone X last year. The
Dividend yield (%) 1.2 1.5 1.6 1.6 1.6 demand for iPhone XR last year. entry-level iPhone 11 has an up-
Sources: Company, MIDF Research While none of the three mod- graded dual-camera set-up, while
els support fifth-generation (5G) the 11 Pro and 11 Pro Max get the
connectivity, we note, based on range-topping triple-camera set-up.
the shift in airlines’ capacity from earnings of MAHB for FY19. the specification sheets, that the Based on the keynote presenta-
the international sector to the do- We maintain our TP at RM9.43 latest iPhone models support tion, we feel that Apple is placing
mestic, in addition to the Hari Raya per share. Band 42 (3,500MHz) and Band 48 more emphasis on its software rath-
Aidiladha festivities. We opine that the current pas- (3,600MHz). er than hardware, such as Apple
International passenger traffic senger traffic momentum will con- These frequencies are within TV+ and Apple Arcade, in line with
of Malaysian operations increased tinue to provide a strong base for the 3.5GHz range that is emerg- its strategy to focus on recurring
by 4% y-o-y to reach 4.6 million incremental revenue generation, ing as a core band for 5G in the subscription income given the
passengers in August, the highest supported by accommodative visa mid-frequency category, owing slowdown in hardware sales.
since December 2018 and followed policies in Malaysia for tourists to its capability to provide a good With 5G support expected to
a similar trend for domestic pas- from China and India that temper mix of capacity (the amount of data only materialise in the 2020 iPhone
sengers. This increase was part- the pressure from the impending transfer) and coverage (the distance models, outsourced assembly and
ly contributed by haj movements international departure levy. Other the signals travel). As detailed in the test players in the radio frequency
and new routes operated by Malin- growth factors include direct con- GSM Association’s 5G spectrum po- supply chain may only see mean-
do Air which include Kuala Lum- nectivity seen from internation- sition paper, 5G needs spectrums in ingful contributions next year. —
pur-Denpasar-Sydney started in al airlines flying straight to loca- three key frequency ranges — low AmInvestment Bank, Sept 11
mid-August. tions such as Langkawi. As such,
The latest news indicate that we strongly believe MAHB’s pas- Inari Amertron Bhd
MAHB was fined by the Malay- senger numbers can surpass the
sian Aviation Commission with an 100 million mark in 2019, while FYE JUNE (RM MIL) 2019 2020F 2021F 2022F
amount of RM1.2 million due to maintaining a relatively conserv-
Revenue 1,152.9 1,464.7 1,750.0 1,989.4
its failure to meet several quality ative growth rate of 3.5% which
of service requirements. This was, translates into 102.5 million pas- Core net profit 190.1 256.6 323.9 374.9
however, not due to the system sengers. Even if there is no growth FD core EPS (sen) 5.9 8.0 10.1 11.7
disruption in late-August but re- in the last four months of 2019, we FD core EPS growth (%) (14.2) 35.0 26.2 15.8
lated to toilet cleanliness for staff are confident that passenger traffic Consensus net profit - 236.5 289.6 332.5
and passengers in respect of the will be in excess of 100 million pas- DPS (sen) 5.2 7.0 8.8 10.2
first quarter of calendar year 2019. sengers. Risks to our call include: i) PER (x) 29.1 21.5 17.1 14.7
Nevertheless, even if we were to add an adverse revision of the user fee
EV/Ebitda (x) 16.3 12.4 10.0 8.6
the said fine to potential charges paid to the government; and ii) low-
related to the system disruption, er-than-expected returns under the Dividend yield (%) 3.0 4.0 5.1 5.9
the total estimated amount would new Regulated Asset Base frame- ROE (%) 17.6 22.5 26.8 28.8
still be less than 1% of projected work. — MIDF Research, Sept 11 Source: AmInvestment Bank
Eversendai Corp Bhd designed for the Dubai Expo 2020 Assuming a net margin of 2.2%,
(Sept 11, 42.5 sen) and a suspension bridge project these projects are expected to
2018 2019F 2020F 2021F Maintain sell with an unchanged in the King Abdullah Financial contribute RM6.3 million in net
1,705.8 1,533.4 1,778.0 1,600.0 target price (TP) of 29.5 sen: District of Saudi Arabia. profit or earnings per share of 0.8
Eversendai Corp Bhd has recent- In the Netherlands, its works sen throughout the construction
186.5 133.2 126.7 122.6
ly secured seven structural steel include engineering and fabri- period.
(57.9) (50.5) (50.4) (50.3) projects totalling RM288 million cation under a jacket and piles We maintain our FY19 to FY21
(49.2) (46.4) (32.2) (28.8) in Dubai, Saudi Arabia, India, contract. earnings forecasts as the job wins
79.4 36.4 44.1 43.5 Singapore and the Netherlands. In Singapore, its works cover are within our FY19 order book
(2.4) (3.3) (4.0) (3.9) They are structural steel works. a data centre project. replenishment assumptions of
3.3 1.6 1.9 1.9 In India, its works include those With these job wins, Eversen- RM1.6 billion.
70.2 31.5 38.2 37.7 for three commercial building dai has secured RM890 million We make no change to our TP
towers in Hyderabad, an airport of new jobs year to date. Its out- of 29.5 sen. We maintain our “sell”
74.0 31.5 38.2 37.7
main terminal building and an standing order book is estimat- call as its lofty net gearing level
0.0 0.0 1.0 1.0 ITC boiler structure in Chennai. ed at RM2.39 billion, translating of 1.07 times as at end-June re-
0.0 0.0 2.3 2.3 In the Middle East, its works into 1.4 times financial year 2018 mains a concern. — TA Securities,
cover the Saudi Arabia Pavilion (FY18) revenue. Sept 11
12 B R O K E R S’ C A L L T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY

Palm oil stockpile seen resuming

its uptrend in coming months
Plantation sector Plantation sector peer comparison
Maintain underweight: Palm typically commences in July and
oil inventory declined for the PRICE TP UPSIDE RATING P/E (X) P/B (X) ROE (%) YIELD (%) peaks around September and
13th consecutive month by 5.3% RM RM +/- FY18 FY19 FY20 FY18 FY19 FY20 FY19 FY19 October, and the Indian govern-
month-on-month (m-o-m) to 2.25 Large mkt cap ment’s recent move to hike im-
million tonnes in August 2019, as FGV 0.945 0.97 2.6% Hold -15.3 -38.8 488.5 0.8 0.8 0.8 -2.0 0.9 port duty on processed palm oil
seasonally higher production was IOI Corp 4.410 3.84 -12.9% Hold 25.5 38.7 34.4 3.0 2.9 2.8 7.7 1.6 from Malaysia, by five percentage
more than mitigated by a 16.4% KLK 23.660 22.84 -3.5% Hold 35.2 39.8 34.5 2.5 2.5 2.4 6.1 1.8
points to 50%. The hike eliminat-
m-o-m jump in exports. Against ed Malaysian refiners’ price com-
consensus, the stockpile came in Sime Darby Plt 4.890 3.66 -25.2% Sell 27.7 463.2 82.2 2.4 2.6 2.7 0.6 1.0 petitiveness against their regional
higher than Bloomberg consen- peers, hence dragging exports of
Small-mid cap
sus median estimate of 2.22 mil- processed palm oil from Malay-
lion tonnes, due mainly to high- CBIP 0.825 0.78 -5.5% Sell 6.5 14.0 13.3 0.5 0.5 0.5 3.9 4.1 sia to India. We note that India is
er-than-expected production. IJM Plt 1.500 1.21 -19.3% Sell 19.0 -105.1 67.2 0.8 0.9 0.9 -0.8 1.3 Malaysia’s largest palm oil export
Production continued to trend Hap Seng Plt 1.450 1.48 2.1% Hold 23.2 65.5 40.5 0.6 0.6 0.6 0.9 1.3 destination, accounting for 28%
up, increasing by 4.6% m-o-m Genting Plt 9.990 8.67 -13.2% Sell 56.5 54.6 43.7 2.0 1.9 1.9 1.9 1.2 of the latter’s total palm oil ex-
to 1.82 million tonnes in August TSH Resources 0.870 0.79 -9.2% Sell 11.1 22.7 35.1 0.9 0.8 0.8 2.3 1.1 ports. Exports of Malaysian palm
2019. Cumulatively, palm oil pro- Source: Hong Leong Investment Bank Research
oil to India have surged by 93.7%
duction grew 10.8% to 13.35 mil- in 9M19. We are maintaining our
lion tonnes in the nine months of average crude palm oil price as-
2019 (9M19), driven mainly by in August 2019, boosted mainly stocking activities by Indian im- palm oil exports declined by 12- sumptions of RM2,100 a tonne
estates in Peninsular Malaysia, by higher exports of crude and porters ahead of the country’s im- 14.9% m-o-m during the first 10 for 2019 and RM2,200 a tonne
attributed mainly by a pickup in processed palm oil. We note the port duty hike; and iii) Malaysian days of September 2019. for 2020.
oil yield, which we believe was strong m-o-m export growth was palm’s better price competitive- We maintain our view that We maintain our “under-
due to absence of lagged impact driven by China (+237.4%), India ness against its Indonesian peers palm oil stockpile will resume weight” stance on the sector, giv-
from El Nino. (+22.6%) and Pakistan (+31.3%), due to the ringgit depreciation in its uptrend in the coming months, en our less optimistic view on the
Exports increased for the third which was in turn due to: i) re- August 2019. mainly on the back of the com- sector’s murky outlook and pricey
consecutive month, by 16.4% stocking activities ahead of the Both cargo surveyors (AmSpec mencement of the seasonally valuations. — Hong Leong Invest-
m-o-m to 1.73 million tonnes Diwali festival; ii) increased re- Agri and Intertek) indicated that higher production cycle, which ment Bank Research, Sept 11

Good prospects seen for Magni-Tech expected to gain

GHL Systems’ lending business
GHL Systems Bhd
(Sept 11, RM1.42)
Maintain hold with a higher tar-
get price (TP) of RM1.45: We at-
tended GHL Systems Bhd’s inau-
gural analyst briefing last Friday
along with 20 analysts and fund
managers at the group’s head-
quarters in Bandar Sri Daman-
sara, Kuala Lumpur. The briefing
was hosted by group chief execu-
tive officer Danny Leong and the
management team. There were no
surprises; however, the manage-
ment is upbeat on GHL’s growth
prospects driven by the upcom-
ing second-generation transac-
tion payment acquisition (TPA)
that will allow the company to
acquire merchants directly. The
group plans to roll out the second
TPA in October 2019.
The group is excited about its
new money lending business that
will allow it to provide value-add-
ed services to its merchants. GHL
received money lending licences
in Malaysia and Thailand from
the respective countries’ regu-
lators last month. GHL plans to
roll out the business in the fourth
quarter of 2019 through internal
funds. GHL had RM121 million net
cash as at end June 2019. We see
attractive prospects for the lend-
ing business given that GHL could
charge up to 18% and 36% effective
annual interest rates in Malaysia
and Thailand, respectively.
The total processing value
(TPV) of GHL’s TPA surged 32%
from US-China trade war
Magni-Tech Industries Bhd The company’s
(Sept 11, RM5.78) net cash position
GHL Systems Bhd Maintain outperform with an
unchanged target price (TP) of remains healthy at
FYE DEC (RM MIL) 2017A 2018A 2019F 2020F 2021F RM6.60: Magni-Tech Industries RM225.8 million, or
Revenue 255.6 295.4 333.8 352.7 375.2 Bhd posted a 19.6% year-on-year RM1.38 per share,
(y-o-y) revenue growth for the
Net profit 20.54 24.54 28.19 37.89 43.50
first quarter of its financial year while its dividend
Core EPS (RM) 0.034 0.039 0.042 0.056 0.064
Core EPS growth (%) 22.0 15.0 5.7 34.4 14.8
2020 (1QFY20), to RM327.3 mil- yield looks
lion, while its net profit jumped attractive at 3.9%.
FD core PER (x) 39.18 34.08 32.25 24.00 20.90 38.6% y-o-y to RM30.5 million,
Price to sales (x) 3.56 3.08 2.72 2.58 2.42 driven by higher sales orders re-
EV/Ebitda (x) 16.89 14.69 11.31 9.26 8.15 ceived from the garment seg-
P/FCFE (x) 31.05 NA 30.77 18.89 18.30 ment and better operational ef- nue for the packaging segment
Net gearing (%) (23.5) (21.1) (26.6) (34.7) (41.5)
ficiencies. dropped 7.1% y-o-y to RM24.6
Quarterly earnings were in million due to lower sales orders.
P/BV (x) 3.32 2.26 2.11 1.94 1.78 line with our expectations, mak- Quarterly profit before tax
ROE (%) 8.70 7.89 6.78 8.44 8.88 ing up 26.4% of our earnings es- (PBT) was up 38.2% y-o-y. The
CGS-CIMB/ timates. Magni-Tech declared garment segment’s PBT rose
consensus EPS (x) 0.94 1.02 1.00 a higher dividend per share of 38.8% y-o-y, in tandem with the
Source: CGS-CIMB Research, company reports seven sen for 1QFY20 (1QFY19: growth in sales and boosted by
five sen). Our sum-of-parts-based the lower operating expenses to
TP of RM6.60 is maintained and revenue ratio due to better oper-
year-on-year (y-o-y) to RM6.2 bil- (MDR) of 25 basis points (bps) to we reiterate our “outperform” ational efficiency. The packaging
lion in the first half of 2019, driven 60bps, lower than its TPA MDR call on Magni-Tech as we expect division’s PBT also posted a com-
by a 45% y-o-y surge in electronic of 90bps. The group is seeing it to benefit from the ongoing mendable growth of 25.9% y-o-y
TPA transaction value on the back accelerating growth in e-wallet US-China trade war due to di- on better gross margin, higher
of a bigger merchant base. Th e transactions; it now processes version of US imports from China interest and dividend income.
group expects to deliver at least nearly RM30 million worth of to Vietnam. The company’s net We expect Magni-Tech to be
30% TPV growth in the forecasted transactions per month as of Au- cash position remains healthy at one of the major beneficiaries
financial year 2019, driven by the gust, from RM5 million a month RM225.8 million, or RM1.38 per from the ongoing US-China trade
growing merchant base and new in January 2019. share, while its dividend yield dispute whereby major US cus-
products, such as e-wallet. We peg our TP at 24 times fore- looks attractive at 3.9%. tomers diverts its orders to Viet-
Despite the higher TPV and a casted calendar year 2021 price- Quarterly revenue rose 19.6% nam and other Asean garment
wider merchant base, the group to-earnings, in line with the sec- y-o-y. The garment segment’s manufacturers. We understand
said it still expects its TPA margin tor mean. Higher TPA margin revenue surged 22.4% y-o-y to that the construction of Plant 2
to stay under pressure partially and stronger contribution from RM302.8 million due to higher was completed in March 2019
due to the ongoing competition. overseas operations are key up- sales orders as a result of trade and is currently contributing
Apart from that, the group also side risks to our call, while key diversion from US customers. The positively to Magni-Tech’s busi-
said that the lower TPA margin downside risks are declining MDR, garment segment remains the ness. The company has recruited
is also due to its product mix. TPV and delays in growing the group’s largest revenue contrib- more than 800 workers for the
For example, e-wallet providers merchant base. — CGS-CIMB Re- utor, accounted for about 92.5% new plant. — PublicInvest Re-
offer merchant discount rates search, Sept 10 of total revenue. However, reve- search, Sept 11
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Without Bolton, Trump
can now go soft on Iran
The president is basically pushing for the same kind of nuclear bargain that his predecessor negotiated
BY E L I L A K E
U
S President Donald
Trump’s decision to
part ways with his
national security
adviser John Bol-
ton was overdeter-
mined. They disagreed on Afghani-
stan. They differed on North Korea.
There was tension between them
over Venezuela. They could not
even agree on whether Bolton quit
or was fired.
Their most significant dispute,
however, was on Iran. Bolton fa-
voured completely abandoning the
2015 nuclear deal negotiated under
former president Barack Obama
and pressed for maximum pres-
sure on Iran’s leaders. Along with
Secretary of State Mike Pompeo,
Bolton helped persuade Trump
earlier this year to retain a US mil-
itary presence in Syria to counter
Iran’s Revolutionary Guard Corps.
Trump has supported maximum
pressure, but he has also flirted late-
ly with diplomacy. At the Group of
Seven (G7) meeting in France last
month, the president pared down his
Who lost Argentina, again?
BY
MOHAMED A EL-ERIAN
INVESTORS and economic observers
have begun to ask the same question
that I posed in an article published
18 years ago: “Who lost Argentina?”
In late 2001, the country was in the
grips of an intensifying blame game,
and would soon default on its debt
obligations, fall into a deep recession,
and suffer a lasting blow to its inter-
national credibility. This time around,
many of the same contenders for
the roles of victim and accuser are
back, but others have joined them.
Intentionally or not, all are reprising
an avoidable tragedy.
After a poor primary election out-
come, Argentinian President Mau-
ricio Macri finds himself running
for another term under economic
and financial conditions that he
promised would never return. The
country has imposed capital con-
trols and announced a reprofiling
of its debt payments. Its sovereign
debt has been downgraded deeper
into junk territory by Moody’s, and
to selective default by Standard &
Poor’s. A deep recession is under-
way, inflation is very high, and an
increase in poverty is sure to follow.
It has not even been four years
since Macri took office and began
pursuing a reform agenda that was
widely praised by the internation-
administration’s initial 12 conditions
for lifting sanctions on Iran to just
three. While he has always left the
door open to talks, Trump has been
musing about this idea more openly
and more frequently. It nearly hap-
pened at the G7, when Iranian For-
eign Minister Javad Zarif was invited
to the summit by French President
Emmanuel Macron. Bolton, senior
US officials told me, learned about
his visit from the Israelis.
The prospect of Trump meet-
ing with Iranian President Hassan
Rouhani came up at a news brief-
ing on Tuesday with Pompeo and
Treasury Secretary Steve Mnuchin.
When asked if Trump could meet
with Rouhani later this month at
the UN General Assembly, Pom-
peo said: “Sure. The president has
made it very clear: He is prepared
to meet with no preconditions.”
To date, the Iranians have not
agreed to any kind of meeting.
Zarif has said the US must lift
sanctions before such a parley.
Rouhani offered Obama — who
pursued an accord with Iran
throughout most of his presidency
— only a brief phone call.
al community. But since then, the
country has run into trouble and be-
come the recipient of record-break-
ing support from the International
Monetary Fund (IMF).
Argentina has fallen back into
crisis for the simple reason that not
enough has changed since the last
debacle. As such, the country’s eco-
nomic and financial foundations
have remained vulnerable to both
internal and external shocks.
Although they have been com-
mitted to an ambitious reform pro-
gramme, Argentina’s economic and
financial authorities have also made
several avoidable mistakes. Fiscal
discipline and structural reforms
have been unevenly applied, and
the central bank has squandered its
credibility at key moments.
More to the point, Argentini-
an authorities succumbed to the
same temptation that tripped up
their predecessors. In an effort to
compensate for slower-than-ex-
pected improvements in domestic
capacity, they permitted excessive
foreign currency debt, aggravating
what economists call the “original
sin”: a significant currency mis-
match between assets and liabil-
ities, as well as between revenues
and debt servicing.
Worse, this debt was underwrit-
ten not just by experienced emerging
market investors, but also by “tour-
ist investors” seeking returns above
what was available in their home
Nonetheless, Bolton’s exit could
pave the way for the Trump dream
of a US-Iran summit. Zarif himself
has made Bolton the centrepiece
of his propaganda campaign. He
blamed Bolton, but not Trump, for
the increased tensions between his
country and America, and Zarif’s al-
lies in Washington have already ap-
plauded the end of the Bolton era.
On Tuesday, the president of the
National Iranian American Council
praised Trump. “We congratulate
President Donald Trump on what
may become the best decision of his
markets. The latter tend to lack suf-
ficient knowledge of the asset class
into which they are venturing, and
thus are notorious for contributing
to price overshoots — both on the
way up and the way down.
Undeterred by Argentina’s histo-
ry of chronic volatility and episodic
illiquidity — including eight prior
defaults — creditors gobbled up as
much debt as the country and its
companies would issue, including an
oversubscribed 100-year bond that
raised US$2.75 billion at an interest
rate of just 7.9%. In doing so, they
drove the yields of Argentine debt
well below what economic, financial
and liquidity conditions warranted,
which encouraged Argentine entities
to issue even more bonds despite the
weakening fundamentals.
The search for higher yields has
been encouraged by unusually loose
monetary policies — ultra-low (and,
in the case of the European Central
Bank, negative) policy rates and
quantitative easing — in advanced
economies. Systemically important
central banks (the Bank of Japan, the
US Federal Reserve and the ECB)
thus have become the latest players
in the old Argentine blame game.
Moreover, influenced by years
of strong central bank support for
asset markets, investors have been
conditioned to expect ample and
predictable liquidity — a consistent
“common global factor” — to com-
pensate for all sorts of individual
Bolton’s (pic)
exit could pave
the way for the
Trump dream
of a US-Iran
summit. Photo
by Reuters
Presidency,” said Jamal Abdi. “This
single move dramatically reduces
the chances of a new, catastrophic
war in the Middle East.”
See related story on Page 20
Trump has heard this argument
from elements of the right as well.
Fox News host Tucker Carlson rant-
ed in June that Bolton was a “bu-
reaucratic tapeworm”. Republican
senator Rand Paul has offered his
services as a back channel to Iran
to help establish negotiations.
credit weaknesses. And this phe-
nomenon has been accentuated
by the proliferation of passive in-
vesting, with the majority of indi-
ces heavily favouring outstanding
market values (hence, the more
debt an emerging market issues,
like Argentina, the higher its weight
in many indices becomes).
Then there is the IMF, which
readily stepped in once again to
assist Argentina when domestic
policy slippages made investors
nervous in 2018. So far, Argentina
has received US$44 billion under the
IMF’s largest-ever funding arrange-
ment. Yet, since day one, the IMF’s
programme has been criticised for
its assumptions about Argentina’s
growth prospects and its path to
longer-term financial viability. As it
happens, the same issues plagued
the IMF’s previous efforts to Argen-
tina, including in the particularly
messy lead-up to the 2001 default.
As in Agatha Christie’s Murder on
the Orient Express, almost everyone
involved has had a hand in Argenti-
na’s ongoing economic and financial
debacle, and all are victims them-
selves, having suffered reputational
harm and, in some cases, financial
losses. Yet those costs pale in com-
parison to what the Argentine peo-
ple will face if their government does
not move quickly — in cooperation
with private creditors and the IMF
— to reverse the economic and fi-
nancial deterioration.
COMMENT 13
Of course it is preposterous
to argue that Bolton, who served
Trump for less than a year and
a half, is responsible for US ten-
sions with a country that has been
attacking American citizens and
soldiers for 40 years. The issue is
what the US should do about this
state of hostilities.
That is why Trump’s frustrations
with Bolton count as ironic. In 2017,
the president held a series of meet-
ings with Bolton to get his perspec-
tive on leaving the Iran nuclear
deal — undercutting General HR
McMaster, who was then serving as
his national security adviser. Mc-
Master wanted to keep the deal and
pressure European allies to help
renegotiate it and make it stronger.
Now it appears that Trump has
buyer’s remorse. While he would
never acknowledge it, Trump is ba-
sically pushing for a bargain very
similar to the one that he criticised
Obama for negotiating. Trump is
free to appoint a national security
adviser who shares his new position
— and whoever takes the job will be
safe until the president inevitably
changes his mind. — Bloomberg
Whoever prevails at next month’s
presidential election, Argentina’s
government must reject the notion
that its only choice is between ac-
cepting and refusing all demands
from the IMF and external creditors.
Like Brazil under then-president
Luis Inácio Lula da Silva in 2002, Ar-
gentina needs to embark on a third
path, by developing a home-grown
adjustment and reform programme
that places greater emphasis on
protecting the most vulnerable seg-
ments of society. With sufficient buy-
in from domestic constituencies,
such a programme would provide
an incentive-aligned path for Argen-
tina to pursue its recovery in coop-
eration with creditors and the IMF.
Given the downturn in the global
economy and the rising risk of global
financial volatility, there is no time
to waste. Everyone with a stake in
Argentina has a role to play in pre-
venting a repeat of the depression
and disorderly default of the early
2000s. Managing a domestic-led
recovery will not be easy, but it is
achievable — and far better than
the alternatives. — Project Syndicate
Mohamed A El-Erian, chief economic
adviser at Allianz, was chairman of
US president Barack Obama’s Global
Development Council. He is the au-
thor, most recently, of The Only Game
in Town: Central Banks, Instability,
and Avoiding the Next Collapse.
14 W O R L D B U S I N E S S
‘Grab in talks to merge Indonesia
firms to overtake Gojek’
Deal could help Ovo-Dana dominate multibillion US dollar online payment market
BY FA N NY POTKI N
JAKARTA: SoftBank-backed ride
hailer Grab is in talks to merge Ovo,
an Indonesian digital payment firm
in which it owns shares, with an Ant
Financial-backed local peer to pow-
er ahead of arch-rival Gojek, people
familiar with the matter said.
A deal would see Singa-
pore-based Grab buy a majority
interest in Dana from Indonesian
media conglomerate Elang Mah-
kota Teknologi (Emtek) and merge
it with Ovo, they said.
It could help Ovo-Dana dom-
inate Gojek in Indonesia’s multi-
billion US dollar online payment
market.
Ovo and Gojek have been vying
for the top spot in payments since
2018, with Dana not far behind.
Grab and Gojek are the top-two
start-up brands in Southeast Asia,
valued at US$14 billion (RM58.52
billion) and US$10 billion respec-
tively, according to sources.
They compete in a host of areas
including financial services, e-com-
merce, ride-hailing and food delivery.
“It is part of the Grab-Gojek bat-
tle,” one of the sources said.
‘Temasek, KKR
eyeing stake in
hospital group’
BY A N S HU MA N DAGA
SINGAPORE: Temasek Holdings,
Singapore’s state investor, and
buyout firm KKR are among the
suitors which have advanced to
the second round of an auction
to buy into the hospital unit of
Metro Pacific Investments Corp,
sources told Reuters.
The unit, which operates 14
hospitals, many of which are
among the largest and most
modern in the Philippines, had
attracted interest from over a
dozen investors.
The sale comes as global in-
vestors scout for targets after
raising billions of US dollars in
the last few years.
Southeast Asia is viewed by
investors as an attractive pros-
pect due to strong healthcare
spending.
Buyout firm CVC and stra-
tegic investors are among the
bidders, said the sources, who
have knowledge of the matter.
The bidders are valuing the
hospital unit at up to US$2 bil-
lion (RM8.36 billion), pegging
its valuation at just over 20 times
next year’s estimated core profit,
as they seek a majority econom-
ic stake in it, the sources added
on condition of anonymity as
the talks are private. — Reuters
The plan also points to intensify-
ing competition in Indonesia’s dig-
ital payment industry that is seek-
ing to piggyback on the country’s
booming e-commerce market and
its 260 million people.
Grab and Ovo declined to com-
ment, while Dana said it does not
comment on market rumours.
It was not immediately clear
how much a deal would be worth.
Finance Asia, citing sources, put
Ovo’s latest valuation at US$2.9
billion.
India-China spat delays RCEP
BY SHRUTI SRIVASTAVA
& P HILIP J HEIJMANS
NEW DELHI/SINGAPORE: A spat
between the world’s most populous
countries is holding up a pan-Asian
trade agreement encompassing
nearly a third of all global trade.
Trade ministers from 16
Asia-Pacific countries this week
hailed a “critical milestone” after
seven years of talks and vowed to
wind them up before a regional
summit in November. But officials
involved in the process say ma-
jor sticking points remain around
market access and the ability of
workers to find employment in
other countries.
The main source of tension is
between India and China over the
amount of goods with preferential
tariffs, according to a person famil-
iar with the negotiations who asked
not to be identified. The person
said India was also unhappy with
the position of Southeast Asian
countries on the free movement
of professionals, particularly in the
information technology sector, and
is weighing whether to be part of
the deal at all.
Covering nearly half of the
globe’s population, the Regional
Comprehensive Economic Part-
nership (RCEP) was proclaimed
“the world’s biggest regional free
The overall structure of the deal
would need to be negotiated with
the country’s central bank due to
foreign ownership restrictions, the
sources said.
Grab’s exact ownership of Ovo
could not be ascertained but sourc-
es said it owns a sizeable stake.
Emtek currently owns over 50%
of the company that owns Dana,
which was formed in 2017 through
a tie-up with Ant.
The talks for a merger follow
SoftBank Group’s announcement
trade deal” when talks started in 2012.
Shortly after US President Donald
Trump took office in 2016 and pulled
the US out of an Asia-Pacific trade
deal, Chinese President Xi Jinping
sought to accelerate talks on the Asia-
wide pact to cement and bolster Chi-
na’s influence.
But negotiators have repeatedly
blown through deadlines, mostly
because India’s Prime Minister Nar-
endra Modi’s government is worried
about exacerbating a trade deficit
with China and the rest of Asia is not
willing to accept large amounts of
Indian workers in return for greater
market access. The talks include the
10-member Asean, Japan, South Ko-
rea, Australia, New Zealand, India
and China.
“I’m not too optimistic because of
the differences among the member
countries, especially towards how
they see the RCEP benefitting the
economy versus the challenges it
creates,” said Yeah Kim Leng, an eco-
nomics professor at Sunway Univer-
sity in Malaysia who is an external
member of Bank Negara Malaysia’s
monetary policy committee.
“The big question now is if they
would like to proceed without India,
which could cause some big push-
back from New Zealand and Aus-
tralia,” he said. “That would in turn
make the process take a longer time.”
Officially, the group is sticking to-
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
The deal would
see Singapore-
based Grab
buy a majority
interest in Dana
from Emtek and
merge it with
Ovo, sources
said. Photo by
Reuters
in July it will invest US$2 billion in
Indonesia through Grab.
SoftBank, Grab’s biggest share-
holder, supports the proposal,
sources said.
The plan was discussed with
top Indonesian officials when the
Japanese investment firm’s chief
executive officer Masayoshi Son
visited Jakarta in July, a source
with knowledge of those discus-
sions said.
“Son is in favour,” the person
said. — Reuters
gether. Thai Commerce Minister Jurin
Laksanawisit on Tuesday said each of
the 16 nations negotiating the trade
pact, including India, supports the
conclusion of the talks by November.
“Everything is on track,” Jurin told
reporters. “We made progress in every
meeting over the past week.”
On Monday, Indian External Af-
fairs Minister Subrahmanyam Jais-
hankar openly blamed China for
what he described as “unfair” trade
policies that created “an enormous
trade deficit”. China has not com-
mented officially on the latest round
of talks. On Aug 29, commerce minis-
try spokesman Gao Feng said China
would play a constructive role and
“push for the conclusion of the ne-
gotiations as scheduled”.
“The Chinese side is still optimis-
tic,” said Wang Huiyao, an adviser to
China’s cabinet and the founder of
the Center for China and Globali-
zation. “China wants it because of
the Sino-US trade war,” he added,
saying the deal would be a “way for
the region to show that it opposes
unilateralism”.
Many member countries insist
the advantages of a regional pact out-
weigh any lingering doubts, particu-
larly as they cope with the fallout of
slowing global economic growth and
an enduring US-China trade war. The
next round of negotiations is expected
to be held later this month in Danang,
Central Retail
to target US$2b
IPO in 2020 —
sources
BY J UL IA F IO R E T T I
& A N UC H IT N G UY E N
HONG KONG/BANGKOK:
Central Group, one of Thai-
land’s biggest conglomerates,
is targeting an initial public of-
fering (IPO) of its retail arm as
soon as the first quarter of next
year which could raise around
US$2 billion (RM8.36 billion),
according to people familiar
with the matter.
The IPO plan was pushed
back from the last quarter of
2019 to allow the group to com-
plete a restructuring involving
Bangkok-based department
store operator Robinson Pcl
ahead of the proposed listing,
said the people, who asked not
to be identified as the discus-
sions are private.
At US$2 billion, Central
Retail Corp’s planned offering
would be the second-largest
in Thailand on record after
BTS Rail Mass Transit Growth
Infrastructure Fund’s US2.1
billion listing in 2013, ac-
cording to data compiled by
Bloomberg.
The closely-held conglom-
erate operates shopping malls
under the Central and Central
Embassy brands, as well as Zen
men’s lifestyle stores and Su-
persports athletic equipment
shops. — Bloomberg
Vietnam. Indonesian Trade Minis-
ter Enggartiasto Lukita warned in a
statement on Monday that the talks
had reached a “point of no return”.
He acknowledged negotiations had
remained far apart in some areas,
and some solutions proposed by
individual countries did not work
for the “outlying majority”.
Still, not everyone is despairing
at the agreement’s progress. Strik-
ing a tone of cautious optimism,
Rebecca Fatima Sta Maria, an ex-
ecutive director of the Asia-Pacific
Economic Cooperation Secretariat,
noted talks around the Compre-
hensive and Progressive Trans-Pa-
cific Partnership took eight years
from the start to ratification.
“I only worry when people stop
talking — not when they are still
coming to the table for discussions,”
Sta Maria, a former secretary-gen-
eral of Malaysia’s trade ministry,
said in an email. “In my experience,
trade negotiations can be unpre-
dictable and we may frustrate our-
selves if we try to pin down a magic
formula, other than patience and
an open mind.”
Sta Maria said she looks forward
to more good news in November.
She said in May that a lack of pro-
gress this year in the RCEP would
be “embarrassing”, especially for
Southeast Asia economies that have
pushed for the deal. — Bloomberg
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Google hit with
demand from states
over ad business
Investigative demand seeks details of ad tech, acquisitions
BY DAVI D M CL AU GHL I N,
G ER R I T D E VY N C K & NAOMI NIX
WASHINGTON/NEW YORK: State
attorneys-general (AGs) investigat-
ing Google are ordering it to turn
over a wide range of information
about its advertising business, ac-
cording to an investigative demand
that takes direct aim at the biggest
source of the company’s revenue.
Texas AG Ken Paxton’s office,
which is leading the nationwide
probe, on Monday issued a 29-page
civil investigative demand obtained
by Bloomberg. In more than 200
directives, investigators ordered
the company to produce detailed
explanations and documents by
Apple reveals triple-camera iPhone
BY ST E PHEN N EL L I S
& N O EL R AND EWI CH
CUPERTINO, California: Apple
Inc caught up with hardware ri-
vals on Tuesday by revealing a tri-
ple-camera iPhone, and it rolled
out a streaming TV service priced
at US$5 (RM20.90) a month, un-
dercutting Disney and Netflix.
The announcements came at
the company’s biggest marketing
event, where it unveils its top
products for the year ahead, and
showcased an aggressive Apple
ready to battle on price.
The long-awaited Apple TV+
streaming television service will
be available in over 100 countries,
starting in November. The service
will not be available in China when
it launches, nor will the Apple Ar-
cade video game subscription.
Oct 9 related to its sprawling system
of online advertising products.
The Sept 9 investigative demand,
which is similar to a subpoena,
was issued as 48 states, the District
of Columbia and Puerto Rico an-
nounced an antitrust investigation
of Google from the steps of the US
Supreme Court in Washington. The
AGs said they were looking at Goog-
le’s advertising practices, but their
detailed demand to the company
has not been previously reported.
According to the document, the
states want information about Goog-
le’s past acquisitions of advertising
technology companies, including
DoubleClick and AdMob; its top ad-
vertisers and publishers; data collec-
Buyers of an iPhone, iPad or
Mac will get a free year of stream-
ing TV, potentially drawing hun-
dreds of millions of viewers to the
service. That catapults the new
service into a rarified group of
companies.
“I think the pricing on the Ap-
ple TV service was definitely a
positive surprise,” said Michael
James, managing director of equity
trading at Wedbush Securities in
Los Angeles. “That’s why you’re
seeing the hammering in some
of the other video service-related
names like Netflix, Amazon and
Roku. Clearly, that was a positive
that people were happy to hear.”
There was no bundle with Ap-
ple Music or other services as
some analysts had expected. But
Ben Bajarin, an analyst with Crea-
tive Strategies, said the TV service,
tion practices; pricing models; and
the functions of the ad auction market
that delivers ads across the Internet.
The document’s questions dig
deep into the “black box” of Goog-
le’s money-making machine and
ask for a thorough explanation of
how it all works. Even to experts, the
ad tech market can seem opaque
and dizzying in its complexity.
The process of showing an ad to a
single person visiting a web page can
involve dozens of companies and
multiple auctions and transactions.
Google has worked its way into con-
trolling much of that process, and
investigators want to know exactly
how powerful the company has be-
come in this space. — Bloomberg
Apple chief executive officer
Tim Cook presenting the new
iPhone 11 at an Apple event at
the company’s headquarters in
Cupertino, California yesterday.
Photo by Reuters
a US$5 a month “Arcade” gaming
service and the base model iPhone
11, seem designed to draw in users
for the longer term.
Apple said its new iPhone 11
will come with two back camer-
as, including an ultra wide-angle
lens and the next generation of
microchips, the A13. Prices start
at US$699, down from last year’s
new iPhone that started at US$749.
The more expensive iPhone 11
Pro will have three cameras on
the back — wide-angle, telepho-
to and ultra-wide. It can create
videos with all three back cam-
eras and the front camera at the
same time and starts at US$999.
Th e iPhone 11 Pro Max with a
bigger screen starts at US$1,099.
The new phones are available to
order tomorrow and will start
shipping on Sept 20. — Reuters
W O R L D B U S I N E S S 15
‘WeWork presses on
with IPO, pushing
SoftBank into a corner’
BY ANI RB A N S E N
& J O S HUA F R A N K L IN
BENGALURU/NEW YORK: Of-
fice-sharing start-up WeWork is
pressing ahead with plans to go
public despite lukewarm interest
in its shares, three sources said,
leaving its largest investor, SoftBank
Group, with a stark choice: Take a
haircut or pony up even more cash.
The We Company, WeWork’s par-
ent, may seek a valuation as low as
US$15 billion (RM62.7 billion) to
US$18 billion in an initial public of-
fering (IPO), down from the US$47
billion value it commanded in the
last private fundraising round in
January, one source familiar with
the situation said.
That means SoftBank, which has
invested US$10.65 billion in We-
Work since 2017 through its Sau-
di-backed US$100 billion Vision
Fund and other vehicles, would have
to write down the value of its in-
‘Global money laundering watchdog
closely monitoring Facebook’s Libra’
BY TO M W IL S O N
LONDON: The global anti-money
laundering watchdog is closely mon-
itoring developments on Facebook’s
planned Libra cryptocurrency, its
new head told Reuters on Tuesday,
in the latest sign of growing regula-
tory scrutiny of the project.
The Facebook-led Libra project is
mooted for launch by June next year.
Regulators’ and politicians’ concerns
range from the risks that Libra could
be used to launder money to priva-
cy and the possibility that it could
upset financial stability.
“We want to make sure that if
there are significant risks, they need
to be addressed,” said Xiangmin Liu,
the president of the Paris-based Fi-
nancial Action Task Force (FATF),
which acts as the global stand-
ard-setter on anti-money launder-
ing. Earlier on Tuesday, a senior US
Treasury official, speaking to report-
Uber makes further cuts to its staff
BY LI Z E T T E C H A PMA N
SAN FRANCISCO: Uber Technolo-
gies Inc is dismissing 435 employees,
the second major staff cut this sum-
mer, as the company faces mounting
losses and a declining stock price.
The eliminated jobs are in the
product and engineering divisions,
representing about 8% of those
groups. Uber said it was firing about
400 marketing employees, about a
third of that department, in July.
Four months after Uber went
public, the stock is trading about
25% below the initial public offering
price. Last month, the ride-hailing
company reported its largest-ever
quarterly loss of US$5.24 billion
vestment should the IPO go ahead.
Sources familiar with the situa-
tion cautioned that no final decisions
have yet been made and the plans
around valuation and timing of the
IPO are all still subject to change.
The sources requested anonym-
ity because the matter is private.
SoftBank declined to comment. We
Company also declined to comment.
The sharply lower valuation re-
flects concerns around the sustain-
ability of We Company’s business
model, which relies on a mix of
long-term liabilities and short-term
revenue, and how such a mod-
el would weather an economic
downturn, according to investors
and analysts.
A sharp cut to WeWork’s valua-
tion would be a blow to SoftBank
as at a time when it is seeking funds
from investors for a second Vision
Fund, for which it says US$108 bil-
lion in pledges have been secured.
— Reuters
ers in Switzerland, said that Libra
must meet the highest standards for
combating money laundering and
terrorism financing if it is to get off
the ground. The Libra project has
renewed focus on how cryptocur-
rencies are regulated, with current
rules on the sector patchy and var-
ying from country to country.
In the first global attempt to bring
the crypto sector to heel, the FATF —
a body set up 30 years ago to tackle
money laundering — told coun-
tries in June to tighten oversight of
cryptocurrency exchanges to stop
digital coins being used to launder
cash and finance terrorism.
Liu, speaking at an event in Lon-
don, said the illegal use of crypto-
currencies is probably spreading at
pace. Known examples, from mon-
ey laundering to drug trafficking,
probably represent only a fraction
of the true scale of criminal use, he
said. — Reuters
(RM21.9 billion). This week, Cali-
fornia lawmakers are expected to
vote on a labour bill that could dra-
matically alter the gig economy and
foist new costs onto Uber.
Uber instituted a hiring freeze of
technical staff in the US and Canada
last month. A spokesman now says
the freeze is over following Tuesday’s
cuts. The news was reported earlier
by TechCrunch.
“We are not doing this for Wall
Street,” Dara Khosrowshahi, Uber’s
chief executive officer, wrote on
Tuesday in an email to staff. “We
are doing this for Uber. It’s critical
we get our edge back and contin-
ually push ourselves to do better.”
— Bloomberg
16 FO CU S
Singapore to pick its AI battles as
it grapples with limited resources
‘Our focus really will be around domains which are relevant to us’
BY BENJAMIN CHER
S
ingapore has to take a “targeted,
purposeful approach” in its arti-
ficial intelligence (AI) efforts, as it
lacks the resources of superpow-
ers such as the US and China, says
Minister for Communications and
Information S Iswaran.
“Our focus really will be around domains
which are relevant to us,” he adds. Iswaran
was speaking at Bloomberg’s Sooner Than
You Think technology conference on Sept 5.
According to him, the domains that the city
state has fixed its sights on include health-
care, education and transport.
More than just developing successful ap-
plication solutions that can be used in Sin-
gapore, Iswaran says these solutions should
also be scalable across the region. “We have
issued what we called ‘grand challenges’ for
AI. We want the private sector to come in
and be partners with us in finding solutions
to these grand challenges.”
 The way Iswaran sees it, the flow of data
needs to be free to derive value from it —
the same way Singapore has been a bene-
ficiary of free and open trade. He believes
public-private partnerships can help allay
fears over the breach of confidentiality and
data security in cross-border exchanges.
 “Many countries are concerned about the
confidentiality and security of data… There
are security considerations which are legit-
imate, but we also feel [they] should not be
a barrier to the flow of data,” says Iswaran.
“If you curtail the flow of data, you curtail
the value derived. And, actually, [flow of
data] is good for the country’s own interest.”
 Already, tech leaders in Asia have warned
that the ongoing trade war between the US
and China is fragmenting the global indus-
try and threatening collaboration in key
research areas.
  To combat these broadening risks,
Iswaran says Singapore needs to find
like-minded partners across the world and
continue to build bridges despite the geopo-
litical tensions. He highlights recent digital
economy agreements that Singapore has
inked with New Zealand and Chile.
 The minister acknowledges that Singa-
pore is unable to compete with the sheer
scale and level of resources that countries
Shanmugam: Tech should be used to support lawyers, not replace them
BY STAN I SL AU S JU DE C HAN
SINGAPORE must ensure that technol-
ogy is used to support and enable law-
yers, said Minister for Law K Shanmugam,
amid fears that artificial intelligence (AI)
could impact the employability of young
law school graduates hoping to get jobs
in law firms.
“Technology is evolving quickly and it is
really critical that the legal profession under-
stands where tech is headed. And we need to
at least keep pace with other jurisdictions,”
he said at the opening of the TechLaw.Fest
2019 on Sept 5.
Citing a study last year where 20 expe-
Many countries are concerned about the confidentiality
and security of data… There are security considerations
which are legitimate, but we also feel [they] should not be
a barrier to the flow of data. If you curtail the flow of data,
you curtail the value derived. — Iswaran
such as the US and China possess. “We take a
very targeted, purposeful approach in terms
of what we’ll fund,” he says. And more than
just financial funding, he says Singapore will
also work at mobilising talent — “not just
Singapore talent but global talent” — for
the application solutions.
“That’s why we’ve put out the call for in-
ternational talent, called Tech@SG, to draw
in the capabilities to work on interesting,
promising areas,” he adds.
 These remarks echo Minister for Trade
and Industry Chan Chun Sing’s reply to a
question in Parliament on Sept 2 on the
need for Tech@SG. Chan said talent was
critical in the effort to develop Singapore’s
tech ecosystem and in effect create more
rienced US lawyers were pitted against an
AI programme by legal tech firm LawGeex
in the vetting of five non-disclosure agree-
ments, Shanmugam noted that the lawyers
finished their task in 92 minutes with an
accuracy of 85%.
The AI programme completed the same
task in an astounding 26 seconds — with
94% accuracy.
“These are tech apps that are transforming
the way people are practising law,” Shanmugam
said. “It also raises a separate question: Once
tech comes in this way, how many lawyers do
you need for a transaction?
“There are some policy questions involved
as well, and we’re studying [these issues]
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
PHOTO BY BLOOMBERG
opportunities for Singaporeans. While Sin-
gapore had initiatives such as the TechSkills
Accelerator, and tertiary institutions were
training new talent in tech-related courses,
these efforts were not enough, he added.
“These efforts are insufficient because de-
mand for tech talent is far outstripping local
supply. This is not just a Singapore issue. It
is a global challenge. Companies have also
given our agencies feedback that we lack
experienced software engineers and prod-
uct managers. They are looking for people
who can take charge of the development and
rollout of digital products at a global scale
instead of only working on specific compo-
nents of the product,” Chan said.
He noted that there was a need to aug-
very carefully,” said Shanmugam, who is
also Minister for Home Affairs. “How can
we ensure that tech is used to support and
enable lawyers? How can we leverage on
the new opportunities that tech can open
up for our Singaporean lawyers?”
The way Shanmugam sees it, a large part
of the routine work in the legal profession
can be done by machines. “Tech can help to
do more of the routine, vetting work, and it
can free up the lawyers to do the higher-val-
ue analytical work,” he said.
He added that tech can also be used to
allow law firms to develop profitable alter-
native pricing models.
Organised by the Ministry of Law, the Sin-
ment local workers with skilled workers
from around the world to meet demands
from companies. This would also improve
Singaporeans’ competitiveness as they learnt
to work with people from across the world.
“This is why we launched Tech@SG —
to help fast-growth tech companies, both
local and foreign, grow in Singapore. This
programme is intended for companies with
the commitment and ability to build teams
and products in Singapore. They will have to
be incorporated in Singapore, have a digital
or technology offering or have a business
model built around proprietary technolo-
gies, research or hardware.
“Tech@SG will enable such companies
to put together globally competitive teams
to develop their products and international-
ise quickly. In addition, Tech@SG will raise
the quality of tech talent in Singapore and
create more opportunities for our tech ex-
perts to team up with the best from around
the world.”
Local efforts are bearing fruit, as Depu-
ty Prime Minister and Minister of Finance
Heng Swee Keat noted in his speech at the
opening ceremony for e-commerce platform
Shopee’s regional headquarters on Sept 3.
“Existing initiatives under SkillsFuture and
Adapt and Grow have shown good results.
The training and job placement programmes
under IMDA’s TechSkills Accelerator are also
paying off,” he said.
Even as Singapore has embraced AI, one of
the biggest worries it has triggered has been the
potential loss of jobs. But while the government
has pushed retraining and reskilling initiatives
to help workers displaced due to digital disrup-
tions, the head of a government-owned firm
nurturing deep-tech startups in Singapore
paints a more sobering picture.
 Speaking at the same event as Iswaran,
Steve Leonard, CEO of SGInnovate, said
there were still important points to discuss
and debate. “There will be job displacement,
and it is going be asymmetric. I’m a big be-
liever that there will be more loss than gain
in the immediate term, and I don’t think that
people can easily be retrained and reskilled.
 “Some say tax the robots and create a dif-
ferent source of revenue for those that are ‘left
behind’. [But] the more we can be honest, it
leads us to the discussion of universal basic
income, for example.” — The Edge Singapore
gapore Academy of Law, and MP Singapore,
the two-day TechLaw.Fest 2019 conference
seeks to encourage participants to weigh
the legal issues surrounding the heavy use
of data in today’s world.
It will also explore the legal and regulatory
issues around responsible data use, access
and control of data, data security and 5G, as
well as the role of data in commerce.
The event will also see the launch of the
Asia-Pacific Legal Innovation and Tech-
nology Association, which will be the first
international body committed to promot-
ing cross-border collaborations and knowl-
edge-sharing in legal tech and innovation.
— The Edge Singapore
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
From left: Goola Warden, managing editor of The Edge Singapore and panel moderator; Natarajan of RHB; Yeo of Cushman & Wakefield; and Chui of ESR-REIT. Photo by Samuel Isaac Chua
Diversified portfolio shields ESR-REIT from possible
tenant defaults; REITs seen as resilient in downturns
BY T H E ED GE SI NGA PORE
WHEN news broke that national water body
the Public Utilities Board was assuming con-
trol of Hyflux’s desalination plant, Adrian
Chui, CEO of ESR-REIT’s manager, received
calls from anxious unitholders. “Why are
you allowing PUB to take away your assets
without paying anything?”
In actual fact, PUB is taking over the plant
at 92 Tuas South Avenue 3. What ESR-REIT
owns is Hyflux’s nearby membrane produc-
tion facility at 8 Tuas South Lane.
Chui recognises that investors are rightly
concerned with the real estate investment
trust’s exposure to Hyflux — especially since
the beleaguered utilities company is among
the REIT’s top 10 tenants. However, he stress-
es that its tenant base is very diversified and
that any impact from Hyflux’s default, if any,
will be minimal as it accounts for just 3.1%
of ESR-REIT’s total rent collection.
Chui, who was speaking at a REIT forum
organised by The Edge Singapore on Aug 26,
adds that Hyflux, for all its debt woes over
the past year, has yet to draw down on the
security deposit of three months’ rent held
by ESR-REIT. According to various reports,
Hyflux may be close to a restructuring deal
with a potential rescuer, Utico from United
Arab Emirates.
In a subsequent announcement on Sept
5, ESR-REIT said another firm had taken up
a 168,846 sq ft space at 8 Tuas South Lane.
The REIT said P-Way Construction & Engi-
neering had been contracted by the Land
Transport Authority to provide track works
services for the upcoming Jurong Region
MRT line.
Merger with Sabana?
With a total portfolio of 56 industrial and
logistics assets worth just over S$3.03 billion
(RM9.16 billion), ESR-REIT is ranked as the
fifth-largest industrial REIT in Singapore. Its
sponsor is ESR, a Warburg Pincus-backed
fund manager. The REIT, which was previous-
ly called Cambridge Industrial Trust, gained
prominence when it merged with Viva Indus-
trial Trust (VIT), sparking a REIT consolidation
wave. In May this year, sponsor ESR bought a
controlling stake in Sabana REIT, which led
to speculation that ESR-REIT might undergo
another merger.
However, Chui points out that he will eval-
uate Sabana’s assets no differently from how
he evaluates other assets and consider if the
transaction, if any, is accretive to ESR-REIT’s
unitholders. “For the record, ESR cannot force
us into a merger because ESR cannot vote on
both sides of the coin — both are listed com-
panies and this is something that was shown
when we did the merger with [VIT]. So, if the
transaction is not accretive or of value to my
unitholders, I don’t think I should buy,” he says.
Resilient investments
Besides Chui, other speakers at the forum in-
cluded Dennis Yeo, Cushman and Wakefield
chief executive for Singapore and Southeast
Asia, and Vijay Natarajan, an analyst with
RHB Securities who specialises in REITs
and property.
Apart from specific concerns about
ESR-REIT’s business and prospects, the
speakers were asked for their broader views
on how REITs as an asset class would per-
form in the upcoming downturn compared
with other assets such as bonds and com-
modities. Natarajan says while REITs are
considered low risk, there may be risk when
recession hits. REIT managers do, however,
have more leeway to mitigate risks when this
happens, he adds.
Yeo says while there is a danger of a down-
turn occurring, Singapore has been actively
adapting to the situation, to the benefit of
industrial REITs. For example, manufactur-
ing remains a core economic activity, but in-
stead of having to compete with lower-cost
economies, Singapore has moved into “ad-
vanced” or “modern” manufacturing, which
still requires factory space.
Multinational manufacturers are confi-
dent of operating here because of the strong
intellectual property laws, and sound logis-
tics support and connectivity. “If they are
already in China or another country, or want
to set up another facility that could be their
sales centre as well as manufacturing plant,
Singapore always comes up top,” he says.
According to Chui, REITs are more trans-
parent relative to other asset classes. For one,
they provide details such as length of leases
and weighted average lease expiry, chang-
es in rental and occupancy rates, and debt
profile including weighted debt to expiry
— which give more visibility to the REITs’
top and bottom lines. In addition, the assets
owned by these REITs are not intangible
concepts and assets, but bricks and mortar.
“If you take a train to UE BizHub East
(which is a key property in ESR-REIT’s port-
folio), you can see the assets there, you can
see how they’re performing. I’m not sure
about commodities but when you invest in
a coal mine, you hope coal is there and not
pebbles,” he says. “If you buy a bond of a
company, you may not necessarily be able to
see the underlying performance. For REITs,
it is very clear — you buy a retail REIT, you go
to a retail mall, you can see the footfall, you
see if the traffic is increasing or decreasing,
you can see shops closing.”
Chui adds that relative to other assets such
as shares, REITs have proven to be relatively
resilient as well. The sector has weathered
recessions and market cycles. “Generally,
you don’t see distributions collapsing 30%
or 40%; you don’t see REITs going belly up.
Some fund managers tell me that REITs are
actually countercyclical. Generally, you get
a clear picture when you invest in REITs.”
Retail REITs
However, in the REIT universe, retail REITs
are seen as more vulnerable than the other
REITs, as e-commerce is growing in popular-
ity at the expense of physical retail. Natarajan
points out that this is not a new challenge.
REIT managers have been actively looking
at which of their tenants are at risk, finding
new ones that stand a better chance of draw-
ing in footfall and converting the traffic into
sales. “The retail sector is here to stay, but
not all retail malls are here to stay,” he states.
Chui agrees that the retail scene is con-
stantly evolving, and that retail REITs are
adapting with it. Previously, food and bev-
erage outlets were tucked away on the top
floor or basement of malls. Today, big-name
restaurants are given prime ground-floor po-
sitions. For example, at CapitaLand’s Bedok
Mall, which he frequents, popular hotpot
chain Hai Di Lao and McDonalds are located
near the main ground floor entrance. “Land-
lords, like us, adapt with the times,” he says.
Yeo notes that the retail industry’s chang-
ing dynamics have benefited industrial rather
than retail landlords. “For example, Lazada
will not take a retail mall as their place of
operation, but they will take a warehouse
for their e-commerce activities. So, I won’t
call it a boom, but this is where I see demand
coming from. The market is changing,” says
Yeo, referring to Southeast Asia’s leading
online shopping platform, which is backed
by Alibaba Group Holding.
FO CU S 17
Higher gearing?
As the Singapore REIT sector develops, regu-
lators are ready to adapt the rules governing
it. As part of a proposal mooted in July by
the Monetary Authority of Singapore, REITs
will be allowed to increase their gearing limit
above the 45% level now. This means they
can borrow more to boost their asset base.
The panellists agree that this is a positive
move. “Cost of debt is much, much cheaper
than cost of equity at this point in time in
the market, and if there’s a higher gearing,
they can borrow a bit more; they can use
the cheaper cost of debt to buy assets with
much higher yields,” says Natarajan.
However, he warns that REIT managers
must strike a balance in their gearing, which
he calls a double-edged sword. “Past crises
have definitely shown that higher gearing
at the wrong point in time can punish you
quite badly,” he adds. Nevertheless, he is
confident that REITs typically will not max
out their gearing limits. The current cap is
45%, but the average gearing of the sector as
a whole was 34% as at May 31, 2019.
From Chui’s perspective, the higher gear-
ing limit gives managers more flexibility. He
is confident that market discipline is effec-
tive and if any REIT leverages up too much,
investors will react accordingly.
He also warns of potential risks in this
prolonged, low interest rate environment.
“The challenge is for REIT managers like us
to control our urge to go on a debt-fuelled
acquisition just for the sake of gaining mar-
ket share.”
When rates come down, what is likely
to happen is that everybody will be chas-
ing good-quality assets, which would go to
the bigger players. The second-tier REITs,
meanwhile, would then be compelled to
buy second-tier assets. “After everything is
bought up, financial engineering will come
in and this is the danger I see,” warns Chui.
While he recommends safeguards in the
form of mandated interest cover limits, the
optimal approach is to leave it to market dis-
cipline. “Singapore REITs have been here for
20 years already; all of you are very sophis-
ticated investors. The market is discerning
enough to know and differentiate which are
the REITs that just want to buy for the sake
of buying and earning fees, and which are
the ones that are here for the longer term, to
create sustainable value,” says Chui. — The
Edge Singapore
18 W O R L D B U S I N E S S
Hong Kong Exchange makes
surprise £29.6b bid for LSE
Bid could throw the European exchange’s own transformative deal into jeopardy
BY A M B E REEN C H OU DHURY
& K I U YA N WONG
HONG KONG: Hong Kong Ex-
changes and Clearing Ltd (HKEX)
made an unexpected bid for Lon-
don Stock Exchange Group plc
(LSE), which could potentially
throw the European exchange’s
own transformative deal into
jeopardy.
The transaction values one
of Europe’s largest exchanges at
£29.6 billion (RM152.8 billion),
according to a HKEX a statement
Boeing’s
key demand
measure falls
to 2009 levels
BY JU LI E JOH N SSON
& B R A N D ON KOCHKODIN
CHICAGO/NEW YORK: It
is still too early to sound an
alarm about the health of the
aerospace industry, but one
key indicator is blinking yel-
low.
Slowing jetliner sales at
Boeing Co have sent its book-
to-bill ratio — a measure of
demand — plunging to levels
not seen since the 2009 reces-
sion. Investors will be looking
for insights into the outlook for
commercial aircraft yesterday,
when Boeing chief executive
officer Dennis Muilenburg
makes his first public com-
ments since the company re-
ported second-quarter earn-
ings in July.
The Chicago-based plane-
maker netted negative 85 air-
craft orders this year through
Aug 31, as airline bankruptcies
overseas wiped out sales gains
and the worldwide grounding
of its 737 MAX in March was
an added drag. The company
delivered 276 aircraft over that
stretch for a book-to-bill of
-0.31, the first time that ratio
has been negative in a decade.
Companies like to keep
the measure at around one
to replace the backlog they are
shipping to customers.
Boeing’s slump while its
best-selling 737 model is
sidelined is hardly surpris-
ing. Moreover, the ratio mat-
ters less for the company right
now since it booked US$474.3
billion in orders earlier this
decade amid the largest sales
boom in aerospace history — a
backlog that equates to about
seven years of production. —
Bloomberg
yesterday. The Asian bourse op-
erator had considered the “ambi-
tious and far-reaching” deal for
many months, HKEX chief execu-
tive officer Charles Li (pic) said.
The LSE, which agreed to snap
up data provider Refinitiv in a
US$27 billion (RM112.9 billion)
blockbuster deal just weeks ago,
declined to comment.
Both firms have been involved
in exchange merger deals in recent
years, with LSE failing in its attempt
to combine with Deutsche Boerse
AG and HKEX acquiring London
Europeans want to do their own
test flights of fixed Boeing 737
BY ALAN LEV IN
& RICHAR D W EISS
WASHINGTON/FRANKFURT: The
European Aviation Safety Agency
(Easa) plans to send its own pilots
to the US to conduct flight tests of
Boeing Co’s grounded 737 MAX jet
before it is returned to service.
The European regulator is con-
ducting what it calls an “independ-
ent” review of the 737 MAX before
it is returned to service after being
grounded for almost six months since
the second fatal crash involving a
malfunctioning flight-control system.
“Easa intends to conduct its own
test flights separate from, but in full
coordination with, the FAA (US Fed-
eral Aviation Administration),” Janet
Northcote, an agency spokeswoman,
said in an email in response to ques-
tions. “The test flights are not sched-
uled yet, the date will depend on the
development schedule of Boeing.”
The crashes — one off the coast
of Indonesia in October and a sec-
ond in Ethiopia in March — were
triggered by a malfunctioning sensor
known as an angle-of-attack vane that
measured whether the plane’s nose
was pointed up or down relative to
GE to lose majority control of Baker Hughes
with up to US$3b share sale
BY DEBROOP ROY & ANK I T A J M E RA
BENGALURU: General Electric (GE)
is looking to raise up to US$3 billion
(RM12.54 billion) in sale of major-
ity-owned Baker Hughes shares,
resulting in a reduction of the US
industrial conglomerate’s stake in
the oilfield services provider to less
than 50%, Baker Hughes said on
Tuesday.
Shares of Baker Hughes, in which
GE owned an about 50.4% stake as
Metal Exchange in 2012 for £1.4 UK Business Secretary Andrea
billion. Leadsom, speaking on Bloomberg
“These are two major security Television as news of the deal
exchanges in the world,” said
Ronald Wan, chief executive
at Partners Capital Interna-
tional Ltd here. “A takeover
from Hong Kong, a special
administrative region of Chi-
na, could be seen as a take-
over from China. It won’t be
easy to clear all the regulatory
hurdles — the deal is su-
per politically
sensitive.”
PHOTO BY BLOOMBERG
Family members of victims of the Ethiopian Airlines Flight 302 crash holding photographs
during a vigil outside the Department of Transportation in Washington DC, the US on
Tuesday. The crash was triggered by a malfunctioning sensor. Photo by Bloomberg
the oncoming air. Boeing has two
such sensors on all its aircraft, while
other manufacturers, including the
Blagnac, France-based Airbus SE,
have used three or more to ensure
more redundancy.
Easa is also examining whether
Boeing’s use of two vanes is sufficient,
of June 30, fell 3.7% to US$23.20 in
after-hours trading, while GE’s were
marginally up at US$9.15.
GE had long planned to sell down
its stake in Baker Hughes.
But the issue came under scru-
tiny last month when Madoff whis-
tleblower Harry Markopolos issued
a lengthy report that alleged in part
that GE was improperly counting
Baker Hughes’ income, capital and
cash in GE’s financial statements.
GE has said its accounting was
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
broke, said the British
government would
examine scrutinise
any tie-up between
the exchanges.
Leadsom said
the UK authorities
would “look very
carefully at anything
that had security impli-
cations for the UK.” —
Bloomberg
Northcote said. The regulations do
not necessarily require an additional
one must be added. Safety could be
addressed “through improvement
of the flight crew procedures and
training, or through design enhance-
ments, or a combination of the two,”
Easa said. — Bloomberg
appropriate since it is the majority
shareholder.
Baker Hughes said GE would
sell up to 120.75 million shares, in-
cluding over-allotment option, of
Baker Hughes’ Class A common in
a secondary offering. Baker Hughes
will additionally repurchase US$250
million of Class B common stock
from GE in a private transaction.
GE currently owns about 522
million shares of Baker Hughes.
— Reuters
IN BRIEF
JPMorgan Chase lowers
2019 outlook for net in-
terest income to US$57b
NEW YORK: JPMorgan Chase &
Co lowered its outlook for 2019
net interest income by about
US$500 million (RM2.09 billion)
on Tuesday, following similar
moves by rival big banks Wells
Fargo & Co and Citigroup Inc.
“Our [net interest income] will
be a little bit lower than we told
you last time,” chief executive
officer Jamie Dimon said at Bar-
clays’ Financial Services Con-
ference here. “I think we told
you US$57.5 [billion] and I’m
closer to US$57 [billion] for this
year.” That is a lower forecast for
full-year net interest income
than the bank gave in mid-Ju-
ly and it shows that banks with
large pools of customer deposits
are struggling to make as much
money amid lower interest rates
and an inverted yield curve. —
Reuters
Fitness start-up Peloton
Interactive targets up to
US$1.33b in IPO
BENGALURU: Peloton Inter-
active Inc, the fitness start-up
known for on-demand work-
out programmes on its exercise
bikes, is planning to raise up to
US$1.33 billion (RM5.56 bil-
lion) in an initial public offer-
ing (IPO). The New York-based
company in a regulatory filing
said it expects to offer 46 mil-
lion shares, including under-
writers’ option, priced between
US$26 and US$29 per share.
The top end of the indicative
price range gives the compa-
ny a market value of US$8.23
billion, based on 283.7 million
outstanding shares, including
the IPO underwriters’ option.
— Reuters
SocGen looking to save
€600m at Paris
headquarters — source
PARIS: Societe Generale SA
(SocGen) is studying ways to
save €600 million (RM2.76 bil-
lion) in annual costs tied to its
operations here, part of an ef-
fort to win back investor con-
fidence and improve returns.
The review, known internally
as “Ithaque,” started in June,
according to a person familiar
with the matter. No decision
has been made and the savings
target may still change, said the
person, asking not to be identi-
fied because the matter is con-
fidential. The bank declined to
comment. — Bloomberg
Charles Schwab to cut
600 jobs on ‘challenging’
economic climate
LOS ANGELES: Charles Schwab
Corp said it is cutting 600 jobs, or
about 3% of its workforce, as the
broker-dealer and wealth-advi-
sory firm faces “an increasingly
challenging economic environ-
ment.” “These actions are a pru-
dent step to ensure we manage
our expense growth while con-
tinuing to invest in initiatives
that allow us to achieve greater
scale and efficiency,” the firm
said in a statement on Tuesday.
— Bloomberg
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HE ED G E FINA NCIA L DA ILY 19
20 WORLD
China exempts some US
goods from retaliatory tariffs
Move comes as trade negotiators from both sides prepare to meet later this month
BY SE YOU N G L EE & JU DY HUA
BEIJING: China announced exemp-
tions for 16 types of US products
from additional retaliatory duties,
in a move that comes as trade ne-
gotiators from the two countries
prepare to meet later this month to
try and de-escalate their protracted
tariff row.
The exemptions apply to US
goods including some anti-can-
cer drugs and lubricants, as well
Canada again
sails warship
through Taiwan
Strait
BY K EL SEY JOHN SON
OTTAWA: Canada has sailed a
warship through the sensitive
Taiwan Strait, the Canadian gov-
ernment said, three months af-
ter a similar operation and amid
strained ties between Beijing
and Ottawa.
Such passages typically upset
China, which claims Taiwan as
part of Chinese territory.
In April, Beijing condemned a
French decision to send a frigate
through the strait as illegal, and
China has also been upset by US
navy ships passing through the
same waterway.
Canada’s government said
the frigate HMCS Ottawa passed
through the Taiwan Strait on
Monday and Tuesday.
“This route was chosen as it
was the most direct route be-
tween UN Security Council sanc-
tions monitoring activities in
Northeast Asia and engagements
in Southeast Asia,” the Depart-
ment of National Defence said
on Tuesday.
In June, two Canadian ships
also sailed through the strait.
Taiwan’s defence minis-
try said the latest ship passed
through the strait in a souther-
ly direction and was monitored
throughout by Taiwan’s armed
forces. In Beijing, Chinese For-
eign Ministry spokesman Hua
Chunying said that China did
not take exception “normal pas-
sage” through the Taiwan Strait
by foreign warships.
“But I don’t know what spe-
cial purpose the Canadian side
had in taking pains to make such
a high-profile announcement
about this,” she told a daily news
briefing yesterday.
“We hope the Canadian side
takes practical actions to show
that it respects China’s sover-
eignty and security.” — Reuters
as animal feed such as whey and
fish meal, the ministry of finance
said in a statement on its website
yesterday.
China has imposed several
rounds of duties on US goods in
retaliation against US Section 301
tariffs, beginning last year in July
and August with a 25% levy on about
US$50 billion of US imports.
In all, the world’s two largest
economies have slapped tit-for-
tat tariffs on hundreds of billions
Trump fires foreign policy hawk Bolton
BY STEV E HOLLAND
& M ATT SP ETALNIC K
WASHINGTON: US President Don-
ald Trump abruptly fired his nation-
al security adviser John Bolton (pic)
amid disagreements with his hard-
line aide over how to handle foreign
policy challenges such as North Ko-
rea, Iran, Afghanistan and Russia.
“I informed John Bolton last night
that his services are no longer need-
ed at the White House. I disagreed
strongly with many of his sugges-
tions, as did others in the Admin-
istration,” Trump tweeted on Tues-
day, adding that he would name a
replacement next week.
Bolton, a leading foreign policy
hawk and Trump’s third national se-
curity adviser, had pressed the pres-
ident not to let up pressure on North
Korea despite diplomatic efforts.
Bolton, a chief architect of Trump’s
Trudeau kicks off tough re-election campaign
BY DAV ID LJUNGGRE N
OTTAWA: Canadian Prime Minister
Justin Trudeau, admired abroad for
his progressive policies but dam-
aged by scandals at home, kicked
off a six-week re-election campaign
yesterday with opinion polls sug-
gesting his hold on power will be
weakened.
Trudeau, who swept to office in
November 2015 promising “sunny
ways” and stressing the importance
of gender equality, gay rights and
the environment, faces an electorate
more focused on the economy and
affordability when it votes on Oct 21.
Trudeau will visit the Ottawa res-
idence of governor General Julie
Payette, the acting head of state, to
formally launch the race at 10am
(1400 GMT).
The 47-year-old married father
of three, whose colourful socks and
classic good looks are often splashed
across the international media, may
have history on his side. Not since
of dollars worth of goods in a bit-
ter trade war that has dragged on
for well over a year and hurt busi-
ness investment, profits and global
growth.
The items on the two tariff ex-
emption lists — posted on the min-
istry’s website — will not be subject
to additional duties imposed by Chi-
na on US goods “as countermeas-
ures to US Section 301 measures”,
the ministry said in its statement.
The exemption will take effect
REUTERS
strident stance against Iran, had also
argued against Trump’s suggestions
of a possible meeting with the Ira-
nian leadership and advocated a
tougher approach on Russia and,
more recently, Afghanistan.
The announcement followed
an acrimonious conversation on
Monday that included their dif-
ferences over Afghanistan, said a
1935 has a Canadian prime minister
who won a parliamentary majority
in his first term been booted from
office in the next election.
But Trudeau may not win enough
seats to govern by himself after a
series of missteps that called into
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
on Sept 17 and be valid for a year
through to Sept 16, 2020, it said.
Yesterday’s announcement
comes before Chinese trade dep-
uties are expected to meet with their
US counterparts in mid-September
in Washington. That will be followed
by minister-level meetings in early
October in the US capital, involv-
ing Chinese Vice Premier Liu He,
US Trade Representative Robert
Lighthizer and Treasury Secretary
Steven Mnuchin. — Reuters
source familiar with the matter.
The 70-year-old Bolton, who took
up the post in April 2018, replacing
HR McMaster, had also often been
at odds with Secretary of State Mike
Pompeo, a Trump loyalist.
Pompeo acknowledged he and
Bolton often had differences but he
told reporters: “I don’t think that
any leader around the world should
make any assumption that because
some one of us departs that Pres-
ident Trump’s foreign policy will
change in a material way.”
Offering a different version of
events than Trump, Bolton tweet-
ed: “I offered to resign last night
and President Trump said, “Let’s
talk about it tomorrow.”
Trump had sometimes joked
about Bolton’s image as a warmon-
ger, reportedly saying in one Oval
Office meeting that “John has never
seen a war he doesn’t like.” — Reuters
question his leadership while cut-
ting into his once sky-high popu-
larity. That would leave him and his
Liberal Party weakened, relying on
opposition members of parliament
to push through legislation.
A Nanos Research poll released
N Korea’s Kim
oversaw test of
‘super-large’
missile launcher
BY J O N H E R S KOV IT Z
TOKYO: North Korean leader
Kim Jong-un oversaw the test
of a “super-large multiple rock-
et launcher” the state’s media
said of the military display that
came shortly after Pyongyang
announced it was willing to re-
start nuclear talks with the US.
Kim said the weapon
system of the super-
large multiple rocket
launcher had been
verified in terms of
combat operation.
Kim, military leaders and top
officials “in the field of national
defence science” saw two rounds
of test fire on Tuesday of “tactical
guided weapons including su-
per-large multiple rocket launch-
er,” the official Korean Central
News Agency (KCNA) said a day
after the launches. South Korea
said North Korea fired “short-
range projectiles” into its east-
ern seas that flew about 330km.
“The supreme leader said that the
weapon system of the super-large
multiple rocket launcher had
been finally verified in terms of
combat operation,” KCNA said.
The test appeared to be of
600 mm calibre multiple-launch
rocket system that North Korea
first introduced last month, said
Ankit Panda, an adjunct senior
fellow at the Federation of Amer-
ican Scientists.
Panda adding that the trajec-
tory varied considerably from
the previous test, suggesting
North Korea was exploring what
this system was capable of. —
Bloomberg
Filepic of Trudeau speaking
at the Niagara-on-the
Lake Community Centre
in Niagara-on-the-Lake,
Ontario, Canada. He was
set to visit the Ottawa
residence of governor
General Payette, the acting
head of state, to formally
launch the race at 10am
(1400 GMT) yesterday.
Photo by Reuters
on Tuesday showed the Liberals at
34.6% and the main opposition Con-
servatives, led by Andrew Scheer,
at 30.7%. That margin would not
be enough to guarantee a majority
of seats in the House of Commons.
— Reuters
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
REUTERS
Japan’s Abe
drafts rising star
Shinjiro Koizumi,
allies in broad
cabinet reshuffle
BY L I N DA SI EG
TOKYO: Japanese Prime Minis-
ter Shinzo Abe drafted the pop-
ular son of charismatic ex-pre-
mier Junichiro Koizumi in a
broad cabinet reshuffle yes-
terday that kept allies in key
posts, as Abe faces a tax rise
and aims to amend the pacifist
constitution.
Telegenic Shinjiro Koizumi
(pic), Abe’s new environment
minister, regularly tops lists of
lawmakers whom voters fa-
vour to succeed to the nation’s
top job.
Koizumi was one of 13 first-
time ministers among 19 whose
appointments were announced
by Chief Cabinet Secretary
Yoshihide Suga.
At 38, Koizumi becomes the
third-youngest to win a port-
folio in post-war Japan, me-
dia said.
Koizumi’s appointment, al-
though to one of the less pow-
erful cabinet posts, could give
a popularity boost to the new
line-up.
It could also bolster Koi-
zumi’s chance of competing
to succeed Abe when the prime
minister’s term as ruling Liber-
al Democratic Party chief ends
in September 2021.
Abe, who returned to power
in December 2012 promising to
reboot the economy and bol-
ster defence, is already on track
to become Japan’s longest-serv-
ing premier in November.
Koizumi — popularly called
Shinjiro to distinguish him
from his father — grabbed
headlines last month with news
that he would marry Christel
Takigawa, a French-Japanese
television presenter, and they
will soon have a baby.
Abe, although drafting more
than a dozen new faces, re-
tained his close allies, Finance
Minister Taro Aso, 78, and Suga,
70. Both have served in their
posts since Abe returned to
office.
“It looks like the ultimate
buddy-buddy cabinet,” said
Norihiro Fujito, chief invest-
ment strategist at Mitsubishi
UFJ Morgan Stanley. — Reuters
Hong Kong protesters
hit pause button
to mark Sept 11
They also denounce media report of planned ‘terror’ attacks
BY JESSIE PANG
HONG KONG: Hong Kong ac-
tivists called off protests yes-
terday in remembrance of the
Sept 11, 2001, attacks on the US
and denounced a Chinese state
newspaper report that they were
planning “massive terror” in the
Chinese-ruled city.
Hong Kong has been rocked
by months of sometimes violent
unrest, prompted by anger over
planned legislation to allow extra-
ditions to China, but broadening
into calls for democracy and for
Communist Party rulers in Beijing
to leave the city alone.
“Anti-government fanatics are
planning massive terror attacks,
including blowing up gas pipes, in
Hong Kong on September 11,” the
Seoul to file WTO complaint over
Japan’s ‘discriminatory’ export curbs
BY HYUNJOO JIN
SEOUL: South Korea plans to file
a complaint over Japan’s tighter
export controls at the World Trade
Organization (WTO), accusing To-
kyo of being “politically motivated”
and “discriminatory” in an escalat-
ing row rooted in wartime history.
In July, Japan imposed tighter
controls on exports of three mate-
rials to South Korea used in smart-
phone chips and displays following
a diplomatic dispute over compen-
sation for forced labourers during
Japan’s occupation of Korea during
World War Two.
The complaint intends “to pre-
Hong Kong edition of the China
Daily said on its Facebook page
alongside a picture of the attacks
on the twin towers in New York.
“The 9/11 terror plot also en-
courages indiscriminate attacks on
non-native speakers of Cantonese
and starting mountain fires.” The
post said “leaked information was
part of the strategy being schemed
by radical protesters in their online
chat rooms”.
The former British colony of
Hong Kong returned to China in
1997 under a “one country, two
systems” formula that guarantees
freedoms not enjoyed on the main-
land, including an independent
legal system, triggering the anger
over the extradition bill.
Hong Kong leader Carrie Lam
has said she will withdraw the bill
vent the act of abusing trade for
political purposes from recurring,”
South Korea’s Trade Minister Yoo
Myung-Hee said at a briefing.
Bilateral relations deteriorat-
ed after South Korea’s Supreme
Court last year ordered two Jap-
anese companies to compensate
wartime workers in a ruling that
Tokyo said violated international
law. Japan says the issue of com-
pensation was settled under a 1965
treaty.
The dispute has rippled through
security cooperation over North Ko-
rea, with Seoul deciding to scrap a
military intelligence-sharing pact
with Japan, inviting criticism from
but many Hong Kong residents fear
Beijing is steadily eroding the au-
tonomy of the Asian financial hub.
China denies meddling and has
accused the US, Britain and others
of fomenting the unrest.
“We don’t even need to do a
fact check to know that this is fake
news,” said one protester, Michael,
24, referring to the China Daily post.
“The state media doesn’t care
about its credibility. Whenever
something they claimed to have
heard on WhatsApp or friends’
friends, they will spread it right
away.”
“In solidarity against terrorism,
all forms of protest in Hong Kong
will be suspended on Sept 11, apart
from potential singing and chant-
ing,” the protesters said in a state-
ment. — Reuters
Filepic of a police
officer standing guard
near the national
flags of Japan and
South Korea at a hotel
in Tokyo. Bilateral
relations deteriorated
after South Korea’s
Supreme Court last
year ordered two
Japanese companies
to compensate
wartime workers in a
ruling that Tokyo said
violated international
law. Photo by Reuters
both Tokyo and Washington.
Yoo said South Korean firms are
“faced with serious damage” as a re-
sult of the export curbs, which also
cast uncertainty on the global sup-
ply chain and the global economy.
The materials affected by Ja-
pan’s export controls are fluori-
nated polyimides, photoresists and
hydrogen fluoride, which are used
by South Korean technology firms
such as Samsung Electronics.
Japan requires exporters to seek
permission each time they want to
ship those materials, which takes
up to 90 days. Previously, it only
took a couple of weeks to ship, Yoo
said. — Reuters
W O R L D 21
Duterte says Xi
offering gas deal
if arbitration
case ignored
BY MA RT IN PE T T Y
MANILA: Philippine President
Rodrigo Duterte said his Chi-
nese counterpart has offered
Manila a controlling stake in
a joint energy venture in the
South China Sea, if it sets aside
an international arbitral award
that went against Beijing.
Duterte said President Xi
Jinping told him during their
recent meeting that if he ig-
nored the Permanent Court of
Arbitration’s 2016 ruling, China
would agree to be the junior
partner in a joint venture to de-
velop gas deposits at the Reed
Bank, located within Manila’s
Exclusive Economic Zone.
“Set aside the ruling,”
Duterte was quoted as telling
reporters late on Tuesday.
“Set aside your claim,” he
said, quoting Xi. “Then allow
everybody connected with the
Chinese companies. They want
to explore. If there is some-
thing, they said, we will be gra-
cious enough to give you 60%,
only 40% will be theirs. That is
the promise of Xi Jinping.”
The Philippines’ only ac-
cessible gas resources at the
Malampaya fields are set to run
out by 2024. — Rueters
Philippine
minister says
no access for UN
drug war probe
BY MA RT IN PE T T Y
MANILA: The Philippines will
not allow visits by the UN to
investigate its bloody war on
drugs, its foreign minister said
yesterday, calling its human
rights experts “bastards” who
had already demonstrated
prejudice.
The UN Human Rights
Council approved a resolution
in July to compile a compre-
hensive report on President
Rodrigo Duterte’s three-year
crackdown, during which at
least 6,700 people have been
killed in what police say were
shootouts with dealers who
resisted arrest.
Asked in a television in-
terview if UN investigators
would be allowed to work in
the Philippines, Foreign Sec-
retary Teodoro Locsin said:
“No. Because they have al-
ready prejudged.”
“I already said those bas-
tards — especially that woman
acting like the queen in Alice in
Wonderland — first, the judge-
ment, then the trial. No.”
Locsin was referring to Ag-
nes Callamard, the UN special
rapporteur on extrajudicial,
summary or arbitrary execu-
tions. She has been a staunch
critic of Duterte. — Reuters
22
live it!
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
Personal
ASSISTANT
CO M PI L ED BY L A KSHM I SEKHAR
WORK. LIFE. BALANCE
CHECK OUT G13 Gallery’s showcase at the
Art Expo Malaysia 2019. The artworks include
an array of emerging artists and established
veterans with all sorts of genres. Over at booth
12 and 13 there will be different displays for
guests to enjoy. Booth 13 includes a pres-
entations by Chin Wan Kee, Datuk Sharifah
Fatimah Syed Zubir and Kow Leong Kiang. Art
Expo Malaysia is one of the longest running
international art fairs in Southeast Asia and
this year is not one to miss. It will be held at
the Matrade Exhibition and Convention Centre
Kuala Lumpur, from Oct 11 until Oct 13. For
more information visit g13gallery.com
FOR some soulful music head to No Black Tie
for John Dip Silas Trio featuring Amelia Ong.
Silas enrolled to study music at The Austral-
ian International Conservatorium of Music
in Sydney at the young age of 18. Exposed
to jazz, he has been an active member of the
Malaysian jazz scene and even teaches at the
University of Malaya as the piano tutor and
jazz ensemble facilitator. Having performed
all over the world, from Australia and China
to Malaysia and Singapore, Silas has worked
with internationally accalaimed musicians
such as Shunzo Ohno, Michael Simon, James
Flynn and more. The show kicks off at 9pm for
RM53, or RM174.80 with dinner. No Black Tie, 17
Jalan Mesui, off Jalan Nagasari, Kuala Lumpur.
For more information visit noblacktie.com.my
IF you are looking for
a new kind of self-help
guide, one that is more
suited to our gener-
ation, try The Subtle
Art of Not Giving a
F*ck: A Counterintui-
tive Approach to Living
a Good Life by Mark
Manson. Shift your
thinking and consider
a different perspective on topics of positiv-
ity with Manson’s raw approach to life. He
encourages us to embrace fears, faults and
uncertainties, while also adding his fun sense
of humour. This guide to life is available for
RM71.91 at malaysia.kinokuniya.com
THE SCENES
We speak to film-maker
Ruby Yang on the
making of M for
Malaysia, a documentary
that records a
pivotal moment in
Malaysian history
BY L AK S HM I S E K HAR
F
ilm-maker, director, producer
and editor, Ruby Yang is a well-
known figure in the world of
documentaries. She has won an
Academy Award for the film The
Blood of Yingzhou District in
2007, and she is known for the award-win-
ning film My Voice, My Life, and her feature
documentary Citizen Hong Kong. Yang is
now a member of the Director’s Guild of
America and the Academy of Motion Pic-
ture Arts and Sciences. She also heads the
Hong Kong Documentary Initiative at the
University of Hong Kong. Yang has brought
her distinguished experience to M for Ma-
laysia — a documentary which follows the
2018 Malaysian general election and the
peaceful change of government — as the
film’s creative producer. We had the oppor-
tunity to speak to her about her experience
with this history-making piece.
How did you get involved in
the making of M for Malaysia?
Actually a mutual friend introduced me
to Dian Lee (director, producer and exec-
utive producer of M for Malaysia), as she
was looking for someone to mentor her for
the film because it was her first time being
a director. She has never done a feature
length documentary, so they approached
me and asked me to help with the project.
They sent me the footage and I looked at it. It
was pretty amazing footage of the campaign
and I saw that it was very much the people’s
T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY
BEHIND
power in how the government changed.
Without a drop of blood and through the
ballot box — that is so important. It is re-
ally about democracy so I decided to help
them. That was back in October last year.
What do you think is the message
M for Malaysia has for viewers?
I think it is about a true form of democracy.
I believe many voters showed up to vote,
and that is the privilege of democracy. You
are able to vote and exercise you right to
vote. I think that is most important. I think
the true from of democracy is by voting and
also through a good leader, who is truly gen-
uine and who wants to make changes for
the better, for the society and the country.
How aware were you about Malaysia’s
political climate before this project?
I read about the corruption, the 1MDB
(1Malaysia Development Bhd) story, as
it was on the news quite a bit. It was quite
negative news. I learned a lot through
Lee and Ineza Roussille, (directory and
co-producer of M for Malaysia). And of
course the editor, Sebastian Ng is really
into Malaysian politics and as an outsider
I had a lot of questions. For two months I
had to learn Malaysia’s recent history, after
independence. So I was not very aware
of the history until the project.
From left: CAAMFest37 director Masashi Niwano, Rendra Zawawi, Lee, Roussille, Yang, CAAMFest37
executive director Stephan Gong.
Can you tell me a bit about your
role as creative producer?
I think the structure of the film is most
important and so is the theme. Lee and
Ineza had to convince me that they had a
clear theme in the film and make how they
are going to tell the story clear. The film
is actually about reconciliation, because
most of the politicians were in jail before
and then they came out to help Tun Dr
Mahathir Mohamad. And that is one of the
things that I wanted to be sure was clear in
the film because for me, as a film person
and an outsider, you have to convince me
that it is believable. Also for international
audiences, that is hard to believe so it has
to be very clear. The history of the people
wanting to have a clear, corruption free
government, shown through things like
Bersih, show that the people’s movement
was not built overnight, it is through the
history. So was something that I asked
them to put in the film, for outsiders and
for international audiences. That is the
structure of the film, because they have
the storyline already but context wise, for
me, that is important.
What do you like about
M for Malaysia?
I like the personal moments between
Dr Mahathir and Tun Dr Siti Hasmah
 live it! 23
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY

WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE

TRAVEL BY ANANDHI GOP INATH

Luxury Escapes launches ‘Experiences’

platform for travellers in Asia
LUXURY Escapes, one of the world’s fast- can transform a trip into the way for travellers to immerse
est growing travel brands, has announced holiday of a lifetime. themselves in their desti-
the launch of its new category-leading The launch of Luxury nations, we’re recognising
product, Experiences. Building on the Escapes Experiences that luxury is increasing-
e-commerce platform’s extensive part- capitalises on macro ly about personalisation Thai cooking class.
nerships with some of the world’s best market trends, with and the opportunity
known and loved travel brands, Experi- projected global to travel in a way that
ences offers a curated collection of hand- spending on the ex- works for you.”
picked, in-destination activities, help- perience economy The official launch
ing customers to add anything from a to hit US$8 trillion by of Experiences comes
12-course degustation dining experience 2031. With travellers after an early access
at the world famous Vue de Monde in increasingly choosing period where custom-
Melbourne to wine tasting, heli-tour and to spend less on materi- er purchases grew 220%,
lunch in South Australia’s McLaren Vale al goods and prioritising with destinations such as
wine region and even a drive in a Ferrari experiences, travel industry the Maldives, Fiji, Japan and
through the streets of Barcelona for their brands are well-placed to deliv- Thailand, the most popular lo-
next getaway. er more extensive local and custom- cations for Experiences so far.
Since launching in Australia in October ised experiences for travellers. “The Experiences economy is only going
2013, Luxury Escapes has helped nearly “With over 50% of our members naming to get bigger, particularly in travel. We’ve
2.6 million travellers enjoy some of the ‘unique, personally curated experiences’ already seen huge growth in experiential
world’s best holidays from an incredible as the No 1 travel trend they were excited travel with our Tours business growing 40%
collection of hotels and resort partners. about, we knew we had a specific oppor- year-on-year. The early success of Experi-
Holiday packages from Luxury Escapes tunity to build a product to deliver these ences is a testament to the trust our cus-
often include indulgent extras such as once-in-a-lifetime experiences,” Luxury tomers have in knowing that we person-
spa treatments, degustation dinners and Escapes chief executive officer Cameron ally try every local experience before we Taupo Tandem Skydiving in New Zealand.
VIP airport transfers — the things that Holland (pic) says. “By creating a smarter recommend it,” added Holland.

Vasse Felix in Western Australia. Hughes Airport Transfer.

Mohd Ali which is very genuine. I think

it is nice for them to have such a long
lasting relationship and support for each
other. I think Dr Mahathir, and the suc-
cess of him being a good politician and
prime minister, that success is still prob-
ably through the support of Siti Hasmah.
That I really like. And of course, it is the
people’s power that I really like.
How do you feel about this
documentary is different from other
films you have produced or directed?
Every film is different, so I cannot gener-
alise how it is different. This film is good
because Ineza is the granddaughter of
Dr Mahathir. And so it is her personal
view of her grandfather as a politician
and as a grandfather, and I think that is Ineza and Dr Mahathir. Siti Hasmah on election night.
special as well.
What was the response like at them did not experience being in the coun-good documentary can give a good social has such a positive image because there’s
all the festivals it was taken too? try for the change of government and when impact. I think documentaries like M for so much turmoil in different regions.
It was very positive. The world premier they saw the film they were very moved andMalaysia definitely records a time in history,
was at the San Francisco CAAMFest37 and a lot of people cried during the screening.
which is important for Malaysia. The theme
there were a lot of Malaysians who came is so important that it links to many other M for Malaysia will be screening in select-
out to support the film. For overseas Ma- Do you think documentaries, like countries, and shows that change can be ed movie theatres from today until Sunday
laysians who have not been back, this film M for Malaysia, can impact change? made through the ballot box and positive nationwide. For more information visit
was really special to them because a lot of Definitely. I have always believed that a movements. I think the society right now mformalaysia.com
2 4 S P O RT S T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY

New PGA Tour season starts ‘Bukit Jalil

with dust yet to settle on old one
West Virginia’s Greenbrier Classic kicks off today as the opening event
BY A N D REW B OTH
CARY: It has only been 18 days
since Rory McIlroy was crowned
FedEx Cup champion but players
are already gearing up for the new
US PGA Tour season with the open-
ing event, the Greenbrier Classic,
kicking off in West Virginia today.
With the calendar even more
crowded thanks to the golf event
at the 2020 Tokyo Olympics, the
Greenbrier Classic will be the first
of 49 official FedEx Cup events, of
which 11 will be played between
now and late November as part of
the so-called “wraparound” season.
World No 10 Bryson DeCham-
beau heads the field in West Vir-
ginia, while the spotlight will also
be on 2018 US amateur champion
Viktor Hovland as the Norwegian
makes his debut as a Tour member
after a series of impressive results
since turning professional in June.
The event will be followed by
four more in the US before the Tour
crosses the Pacific for a three-event
Asian swing with tournaments in
South Korea, China, and the new
Zozo Championship in Japan,
which replaces Kuala Lumpur’s
CIMB Classic on the calendar.
McIlroy and Tiger Woods are
among a host of top names already
signed up to play in Japan.
The top American and interna-
tional players will be active until
just before Christmas due to the
Dec 12-15 Presidents Cup at Royal
Melbourne in Australia, and after a
short break, the 2020 campaign will
roll on at a relentless pace.
From late February through late
August, there is a top event pretty
much every other week, with the July
30-Aug 2 Olympic golf competition
jammed in just two weeks after the
British Open, and two weeks before
the start of the FedEx Cup play-offs.
Driver testing
The new season will also mark the
introduction of random testing of
players’ drivers to ensure they are
legal.
The game’s international gov-
erning body, the Royal and Ancient
Golf Club of St Andrews, tested
drivers at the British Open in July
and found Xander Schauffele’s to
be non-conforming, but the PGA
Tour until now has not tested.
Yet to be unveiled by the Tour is
a new pace-of-play policy, which
is being reviewed following com-
plaints about slow play and after a
video of DeChambeau taking more
than two minutes to line up a putt at
a tournament in August went viral.
While world No 1 Brooks Koepka
and No 2 McIlroy will have heavy
schedules, Woods is expected to
again carry a lighter load.
He played only three non-ma-
jors since winning the Masters in
April, and recent knee surgery sug-
gests he will be just as sparing in
his appearances in the new season.
— Reuters
stadium is
fantastic but
pitch is a pity’
KUALA LUMPUR: After escap-
ing a setback with a 2-1 narrow
win against underdogs Ma-
laysia, United Arab Emirates
head coach Bert van Marwijk
started his post-match press
conference on Tuesday night
full of praise for the Bukit Jalil
National Stadium.
The Dutchman, who
coached the Netherlands to
the 2010 World Cup final, said
after the Group G match of
the second-round 2022 World
Cup/2023 Asian Cup Joint Qual-
ifiers that the 87,000-capaci-
ty stadium is one of the most
beautiful he has ever been to.
However, the praises did not
last long, as soon after that, the
67-year-old started to lament
about the pitch condition,
which he pointed out did not
seem to match what he called
an excellent stadium.
“Firstly, I want to congratu-
late you on the beautiful stadi-
um — one of the most beautiful

England beat spirited Kosovo in eight-goal thriller
BY M A RT Y N HERMA N
SOUTHAMPTON: England’s march
towards the Euro 2020 finals contin-
ued but not quite in the manner they
might have expected as they beat a
brave and enterprising Kosovo side 5-3
in an extraordinary Group A qualifier
at the St Mary’s Stadium on Tuesday.
Valon Berisha gave 120th-ranked
Kosovo the lead after 35 seconds
but England hit back seven minutes
later through Raheem Sterling’s
header and the rampant hosts led
5-1 at the interval with a double for
teenager Jadon Sancho.
Kosovo, surprisingly second in
the group just a point behind Eng-
land at kick-off, were not about to
depart the biggest night in their
short footballing history quiet-
ly though and exposed worrying
weaknesses in England’s defence.
Within 10 minutes of the restart,
they scored twice through Berisha
and a penalty by Vedat Muriqi, rat-
tling England and leaving manager
Gareth Southgate frowning.
“Whether it was the intensity of
Ronaldo hits four for Portugal in 5-1 rout of Lithuania
BY B R I AN HOMEWOOD
VILNIUS: Portugal captain Cris-
tiano Ronaldo took his internation-
al tally to 93 goals when he scored
four times to give the European
champions a 5-1 win away to Lith-
uania in their Euro 2020 qualifier
on Tuesday.
Playing in his 161st interna-
tional, the 34-year-old notched
his eighth hat-trick for his coun-
try and the 54th of his remarkable
career to help Portugal through
what had threatened to turn into
a frustrating evening.
the game, whether it was the pres-
sure, I don’t know,” Southgate said.
“In many ways, it was a better
experience than strolling through
the game at five, six [goals] or what-
ever, even though we probably all
could have done without it.”
Unheralded midfielder William
Carvalho completed the rout in
stoppage time as Portugal stayed
second in Group B with eight
points, five behind leaders Ukraine
with one game in hand.
Serbia are a further point be-
hind at third after a 3-1 win against
Luxemburg.
“I scored one goal against Ser-
bia and four today (Tuesday) and
what I want most is to continue
like this,” said Ronaldo, who con-
verted an early penalty and then
added three second-half goals.
— Reuters
Harry Kane, who scored England’s
second goal, had a penalty saved by
Arijanet Muric and Sterling then hit
the post but Kosovo were still going
forward until the final whistle and Ber-
sant Celina went close to making it 5-4.
England, who conceded three at
stadiums that I have ever seen
in the world. Only it’s [a] pity
that you have this pitch. You
cannot play really fast football,
also for Malaysia. That’s a pity,
but this is a beautiful stadium,”
he said.
The criticism of the pitch
Sancho (right) is not new as even Tan Cheng
scoring England’s Hoe and several national play-
fourth goal of ers had complained about the
the Euro 2020 pitch condition ahead of the
qualifier Group first-round play-off against Ti-
A match against mor Leste in June. — Bernama
Kosovo at the St
Mary’s Stadium
in Southampton,
Britain on
IOC hopes to
Tuesday. Photo remain relevant
by Reuters
with Tokyo 2020’s
‘urban festival’
BY JACK TARRANT
home for the first time since 2012, TOKYO: The International
lead the group with a maximum 12 Olympic Committee (IOC)
points having scored 19 goals in the hopes that Tokyo 2020’s “urban
process. Kosovo drop to third with festival”, which will offer fans
eight points, one behind the Czech the chance to try out Olympic
Republic who beat Montenegro 3-0 sports, will help the governing
away. — Reuters body remain relevant and in-
crease long-term youth engage-
ment with the Games.
In July, Games organisers an-
nounced plans to develop a Wa-
terfront City in Tokyo Bay, involv-
ing demonstration events and fan
participation in sports, as well as
concerts and other performances
Ronaldo (centre) during next year’s sporting show-
attempting a shot piece.
at goal during The plans, which mirror a
the Euro 2020 similar idea tested at last year’s
qualifier Group Youth Olympic Games in Bue-
B match between nos Aires, are part of the IOC’s
Lithuania and wider aim of increasing its ap-
Portugal at the peal to younger sports fans.
LFF Stadium in “We have made a point
Vilnius, Lithuania to take sports to youth,” IOC
on Tuesday. Photo Games director Christophe
by Reuters Dubi told Reuters by telephone.
— Reuters
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Markets 2 5
BURSA MAL AYSIA MAIN MARKET

Bursa Malaysia YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE COUNTER CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
0.728 0.410 0.550 0.515 8966 PRLEXUS 0.545 0.045 388.4 0.536 — 2.75 98.5
Sectorial Movement 0.305 0.190 0.220
0.920 0.686 —
0.210
—
0186
7134
PTRANS
PWF
0.215
0.750
-0.005
—
4091.1
—
0.215
—
8.37
9.92
4.42
3.33
305.9
130.5
2.120 1.332 2.110 2.070 7237 PWROOT 2.080 0.010 558.8 2.082 26.10 3.99 838.3
INDICES CLOSE +/- %CHG INDICES CLOSE +/- %CHG 7.575 5.937 6.910 6.820 7084 QL 6.910 UNCH 1770.9 6.905 50.15 0.65 11,211.0
FBM KLCI 1,602.30 6.45 0.40 CONSTRUCTION 208.08 2.66 1.29 0.420 0.280 0.300 0.300 9946 REX 0.300 UNCH 100 0.300 — — 74.0
0.238 0.175 0.180 0.175 0037 RGB 0.175 -0.005 869 0.179 7.92 4.00 270.7
FBM ACE 4,505.73 26.24 0.59 CONSUMER PRODUCTS & SERVICES 652.36 4.81 0.74 0.845 0.652 — — 5278 RHONEMA 0.700 — — — 14.20 4.29 127.8
FBM TOP 100 11,127.81 47.21 0.43 ENERGY 1,084.74 7.30 0.68 0.644 0.276 0.625 0.595 0183 SALUTE 0.620 0.020 2218.3 0.611 — 3.87 240.6
FBM EMAS 11,291.86 50.07 0.45 FINANCIAL SERVICES 15,561.10 44.40 0.29 0.490 0.180 0.340 0.325 9113 SANBUMI 0.335 0.005 3286.3 0.334 — — 83.4
0.310 0.165 0.170 0.165 5252 SASBADI 0.170 UNCH 415.7 0.170 89.47 — 71.2
FBM MID 70 13,889.26 68.79 0.50 HEALTH CARE 1,265.86 10.29 0.82 0.450 0.260 0.275 0.260 5157 SAUDEE 0.270 -0.020 582.3 0.265 — — 37.1
FBM MIDS CAP 13,924.57 83.02 0.60 INDUSTRIAL PRODUCTS & SERVICES 150.99 1.95 1.31 0.675 0.577 0.630 0.625 9792 SEG 0.630 UNCH 398.5 0.629 18.21 4.37 796.7
FBM SMALL CAP 12,997.05 114.06 0.89 PLANTATION 6,845.74 18.53 0.27 1.560 1.199 1.450 1.430 5250 SEM 1.450 -0.010 2857.4 1.443 30.27 1.66 1,788.4
0.625 0.440 0.570 0.555 7180 SERNKOU 0.565 UNCH 145 0.566 11.72 — 135.6
FBM FLEDGLING 14,259.94 17.48 0.12 PROPERTY 786.22 2.05 0.26 5.900 4.770 — — 5517 SHANG 5.250 — — — 37.42 2.86 2,310.0
FTSE4GOOD BURSA M’SIA 890.25 4.03 0.45 REAL ESTATE INVESTMENT TRUSTS 1,011.05 -5.55 -0.55 0.750 0.415 — — 7412 SHH 0.465 — — — — — 23.2
0.565 0.315 0.470 0.445 7246 SIGN 0.450 -0.005 16.8 0.451 45.00 3.33 108.1
FBM PALM OIL PLANTATION MYR 11,675.33 -21.79 -0.19 TECHNOLOGY 33.53 0.21 0.63
2.646 2.022 2.360 2.300 4197 SIME 2.320 -0.020 7896.5 2.321 16.57 3.88 15,777.9
FBM EMAS SHARIAH 11,817.15 70.72 0.60 TELECOMMUNICATION & MEDIA 698.70 6.95 1.00 0.470 0.180 — — 8532 SINOTOP 0.195 — — — 22.67 — 77.0
FBM HIJRAH SHARIAH 13,135.65 88.66 0.68 TRANSPORTATION & LOGISTICS 766.85 0.26 0.03 0.250 0.105 0.140 0.140 9776 SMCAP 0.140 UNCH 325.3 0.140 — — 29.9
0.310 0.210 0.235 0.235 7943 SNC 0.235 UNCH 0.9 0.235 — — 15.5
FBM MIDS CAP SHARIAH 13,300.18 95.06 0.72 UTILITIES 983.85 0.17 0.02 0.345 0.200 0.270 0.260 5242 SOLID 0.270 UNCH 107.2 0.261 72.97 0.74 105.9
2.400 1.965 — — 7103 SPRITZER 2.280 — — — 18.17 1.54 478.8
0.680 0.582 — — 0301 SUPREME 0.680 — — — 15.70 0.62 81.6

Bursa Malaysia Main Market 0.790 0.500

0.267 0.175 0.185
0.420 0.240
—

—
—
0.180
—
7186
7082
7211
SWSCAP
SYF
TAFI
0.700
0.185
0.240
—
0.005
—
—
142
—
—
0.183
—
—
—
—
—
6.76
—
127.6
114.6
19.2
1.702 1.294 1.390 1.360 4405 TCHONG 1.360 -0.010 69.7 1.375 7.11 2.94 913.9
YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP 1.550 0.695 1.050 1.050 7439 TECGUAN 1.050 UNCH 23.4 1.050 5.02 — 42.1
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) 0.335 0.210 0.240 0.235 7200 TEKSENG 0.235 0.005 46.1 0.236 — — 81.8
CONSUMER PRODUCTS & SERVICES 1.391 0.697 1.110 1.080 7252 TEOSENG 1.100 0.020 417.8 1.095 6.40 5.00 330.0
0.985 0.700 0.840 0.825 0012 3A 0.840 0.010 56 0.828 11.60 2.38 413.3 1.150 0.866 — — 9369 TGL 1.120 — — — 7.01 4.46 45.6
0.315 0.170 0.180 0.175 5238 AAX 0.175 -0.005 1428.2 0.175 — — 725.9 0.588 0.440 — — 7230 TOMEI 0.460 — — — 10.95 2.17 63.8
0.490 0.335 — — 7120 ACOSTEC 0.360 — — — — — 70.0 0.460 0.300 0.320 0.320 7176 TPC 0.320 -0.005 50 0.320 8.21 — 74.8
1.949 1.345 1.560 1.500 6599 AEON 1.510 -0.020 323 1.527 17.74 2.65 2,120.0 5.988 4.177 5.280 5.010 4588 UMW 5.120 0.090 45.4 5.108 16.71 1.46 5,981.7
0.185 0.115 — — 7315 AHB 0.120 — — — 13.95 — 21.1 2.315 1.977 2.170 2.170 7757 UPA 2.170 0.010 2 2.170 16.90 3.69 172.7
2.404 1.950 2.000 2.000 7090 AHEALTH 2.000 0.020 347.7 2.000 16.67 1.73 943.3 0.970 0.770 0.910 0.895 7240 VERTICE 0.900 UNCH 492.3 0.900 — — 169.9
2.157 1.309 1.830 1.790 5099 AIRASIA 1.820 0.010 11842.8 1.809 10.59 13.19 6,082.4 1.253 0.910 — — 7203 WANGZNG 0.980 — — — 15.63 4.08 156.8
21.695 16.636 16.960 16.880 2658 AJI 16.880 0.040 9.7 16.89 17.36 2.78 1,026.3 2.268 2.021 — — 5016 WARISAN 2.140 — — — — 1.87 143.8
6.765 5.391 5.990 5.970 6351 AMWAY 5.970 -0.020 2.2 5.988 14.39 3.35 981.4 0.160 0.070 0.085 0.080 5156 XDL 0.080 -0.005 705 0.080 9.64 — 144.4
0.030 0.010 0.010 0.010 5194 APFT 0.010 UNCH 18204.2 0.010 0.81 — 13.4 0.540 0.375 — — 7121 XIANLNG 0.380 — — — — — 30.4
4.072 3.550 — — 6432 APOLLO 3.890 — — — 18.91 5.14 311.2 2.340 1.769 2.120 2.120 5584 YEELEE 2.120 UNCH 25 2.120 12.76 1.89 406.2
0.160 0.105 0.125 0.120 1481 ASB 0.125 UNCH 254.9 0.123 — 2.00 116.1 1.206 0.924 — — 5159 YOCB 1.020 — — — 7.14 4.41 163.2
0.570 0.325 0.510 0.500 7722 ASIABRN 0.500 -0.020 19 0.505 10.64 — 116.3 3.272 2.210 2.310 2.300 7178 YSPSAH 2.300 UNCH 33.9 2.301 13.02 3.04 321.0
2.628 2.316 — — 7129 ASIAFLE 2.420 — — — 9.52 5.79 471.3 1.659 1.135 1.530 1.520 5131 ZHULIAN 1.520 UNCH 82.9 1.520 11.35 5.26 699.2
4.740 3.871 4.190 4.150 7048 ATLAN 4.190 UNCH 3.6 4.161 26.84 3.58 1,062.8 3.272 2.210 2.410 2.410 7178 YSPSAH 2.410 -0.010 10.2 2.410 11.69 2.90 336.4
0.325 0.115 0.140 0.120 8885 AVI 0.125 UNCH 1806.4 0.128 — — 118.1 1.659 1.135 1.560 1.560 5131 ZHULIAN 1.560 UNCH 1 1.560 11.65 5.13 717.6
0.170 0.160 — — 0301 BABA 0.170 — — — — — 38.2 INDUSTRIAL PRODUCTS & SERVICES
37.306 18.340 19.040 18.500 4162 BAT 18.800 0.100 451.3 18.82 12.57 7.61 5,368.0 0.100 0.070 0.070 0.070 7086 ABLEGRP 0.070 -0.005 239.9 0.070 — — 18.5
2.780 1.659 2.330 2.280 5248 BAUTO 2.300 0.010 5131.4 2.298 10.24 6.20 2,675.7 0.605 0.350 0.495 0.495 7191 ADVENTA 0.495 -0.010 2 0.495 — — 75.6
1.799 1.264 1.520 1.500 5196 BJFOOD 1.520 0.030 229.6 1.509 24.56 2.63 580.9 2.250 1.740 1.960 1.950 9148 ADVPKG 1.960 0.060 5.6 1.957 82.01 3.06 40.2
0.305 0.150 0.220 0.210 4219 BJLAND 0.215 UNCH 7074.4 0.215 8.43 — 1,075.1 0.140 0.080 0.090 0.090 7146 AEM 0.090 -0.010 22 0.090 — — 29.6
2.780 1.908 2.720 2.670 1562 BJTOTO 2.690 0.020 1302.3 2.693 20.46 5.95 3,634.3 0.710 0.385 — — 5198 AFUJIYA 0.490 — — — 18.08 — 88.2
0.360 0.205 0.265 0.265 9288 BONIA 0.265 -0.005 45.4 0.265 11.47 1.89 213.7 0.335 0.200 — — 2682 AISB 0.225 — — — — — 32.5
0.305 0.055 0.185 0.165 9474 BRAHIMS 0.170 -0.015 5955 0.174 — — 40.2 0.630 0.410 0.425 0.410 7609 AJIYA 0.410 -0.015 135 0.413 5.68 — 124.9
0.868 0.400 0.410 0.400 7174 CAB 0.405 UNCH 613.7 0.405 20.56 1.23 266.7 0.895 0.420 — — 2674 ALCOM 0.490 — — — 31.82 — 65.8
0.605 0.320 0.360 0.340 7154 CAELY 0.340 -0.015 4.5 0.344 56.67 1.47 55.7 1.293 0.920 — — 7083 ANALABS 1.100 — — — 31.43 1.82 132.1
0.295 0.210 0.220 0.220 7128 CAMRES 0.220 UNCH 12.1 0.220 15.83 — 43.3 0.614 0.440 0.475 0.460 4758 ANCOM 0.465 -0.015 81.8 0.465 6.77 — 112.0
2.300 1.500 2.250 2.250 5245 CARING 2.250 0.020 20 2.250 23.61 2.22 489.8 1.814 1.110 1.240 1.210 6556 ANNJOO 1.240 0.010 136.4 1.233 28.77 9.68 694.3
26.790 16.463 25.720 25.200 2836 CARLSBG 25.300 -0.420 211.1 25.30 27.12 3.66 7,735.4 0.055 0.025 0.030 0.025 9342 ANZO 0.030 UNCH 69.6 0.026 — — 26.4
2.000 1.230 1.280 1.280 2925 CCB 1.280 -0.050 8.4 1.280 — — 129.0 0.880 0.500 — — 5568 APB 0.585 — — — — — 66.0
0.847 0.355 0.495 0.490 7035 CCK 0.495 UNCH 774.5 0.491 13.27 2.53 312.2 3.413 2.360 2.450 2.400 5015 APM 2.440 -0.010 105.5 2.413 14.91 4.92 491.9
0.390 0.270 0.300 0.300 7209 CHEETAH 0.300 UNCH 20.2 0.300 93.75 1.33 38.3 0.630 0.469 — — 7214 ARANK 0.480 — — — 6.63 4.83 81.4
1.850 1.210 1.350 1.350 2828 CIHLDG 1.350 UNCH 2 1.350 11.48 7.41 218.7 0.605 0.186 0.315 0.305 7181 ARBB 0.310 UNCH 5465.2 0.310 1.65 — 72.6
0.095 0.060 0.075 0.065 5104 CNI 0.075 0.005 2837.2 0.070 — 4.00 54.0 0.872 0.581 0.700 0.690 7162 ASTINO 0.700 UNCH 112.1 0.700 9.27 1.43 191.9
0.065 0.025 0.045 0.040 5188 CNOUHUA 0.045 0.005 2209.2 0.040 — — 30.1 1.880 1.340 1.410 1.410 8176 ATAIMS 1.410 0.060 1 1.410 15.31 2.33 1,698.2
2.153 1.800 1.900 1.880 7205 COCOLND 1.900 0.010 35.7 1.882 12.93 3.16 434.7 0.850 0.410 0.430 0.420 7099 ATTA 0.420 0.010 19.9 0.423 12.39 — 89.6
0.085 0.005 0.070 0.065 0301 CRG 0.070 0.010 69.2 0.065 19.44 — 56.4 0.918 0.580 0.605 0.595 7579 AWC 0.605 0.010 226.7 0.601 8.51 1.24 179.4
1.282 1.010 1.030 1.020 7202 CSCENIC 1.020 -0.010 56.6 1.026 16.06 6.86 122.9 0.405 0.295 0.305 0.295 5021 AYS 0.300 0.005 51.5 0.298 10.95 6.67 114.1
0.540 0.400 — — 9423 CWG 0.500 — — — 12.17 3.00 63.1 1.400 1.120 1.280 1.220 8133 BHIC 1.280 -0.030 25.3 1.244 — 2.73 318.0
0.040 0.025 — — 7179 DBE 0.030 — — — — — 80.3 0.515 0.260 0.305 0.295 7005 BIG 0.305 0.005 26.6 0.301 7.46 — 14.7
1.050 0.840 — — 7119 DEGEM 0.840 — — — 82.35 1.19 112.6 0.170 0.110 0.120 0.120 6998 BINTAI 0.120 UNCH 122 0.120 3.03 — 34.8
3.420 2.062 2.560 2.540 5908 DKSH 2.540 UNCH 31.2 2.555 13.02 3.94 400.5 0.325 0.245 0.260 0.255 3395 BJCORP 0.255 UNCH 4978.8 0.255 — — 1,329.8
64.555 58.442 62.200 62.000 3026 DLADY 62.000 -0.400 1.7 62.11 34.30 1.61 3,968.0 0.766 0.485 0.590 0.575 0168 BOILERM 0.580 0.005 318.3 0.584 10.64 3.45 299.3
1.480 0.898 1.410 1.370 7148 DPHARMA 1.390 0.010 964.5 1.386 16.77 3.96 945.3 0.060 0.040 0.045 0.040 7036 BORNOIL 0.045 UNCH 2305 0.042 — — 240.3
3.000 1.600 2.500 2.440 1619 DRBHCOM 2.490 0.050 6827.1 2.472 20.43 1.20 4,813.8 1.350 0.865 1.100 1.080 6297 BOXPAK 1.100 UNCH 20.7 1.099 — — 132.1
0.155 0.075 0.095 0.095 2097 EASTLND 0.095 UNCH 79.8 0.095 — — 28.0 1.128 0.833 0.980 0.980 5100 BPPLAS 0.980 0.005 6 0.980 8.79 5.61 183.9
0.675 0.530 — — 5081 EIG 0.660 — — — 17.01 4.55 156.5 0.220 0.140 0.175 0.175 9938 BRIGHT 0.175 -0.005 33.7 0.175 — — 35.9
0.075 0.035 — — 7182 EKA 0.050 — — — — — 15.6 0.445 0.260 — — 7221 BSLCORP 0.290 — — — 15.18 — 28.4
0.215 0.150 0.160 0.160 9091 EMICO 0.160 UNCH 40 0.160 13.68 — 16.9 1.953 0.995 1.070 1.050 2771 BSTEAD 1.070 0.010 293.1 1.060 — 4.67 2,168.9
0.130 0.090 — — 0302 ENEST 0.130 — — — 19.40 — 60.5 0.175 0.070 0.100 0.095 7188 BTM 0.100 0.005 37.1 0.095 — — 14.1
1.120 0.797 — — 7149 ENGKAH 1.000 — — — 9.14 6.00 70.8 3.941 1.807 3.200 3.160 5105 CANONE 3.200 UNCH 66.8 3.182 4.10 1.25 614.9
0.195 0.155 — — 0302 ETH 0.190 — — — — — 46.7 0.015 0.010 — — 5229 CAP 0.010 — — — — — 13.6
0.205 0.080 — — 7208 EURO 0.105 — — — — — 28.1 1.354 0.815 0.830 0.820 7076 CBIP 0.830 0.005 78.9 0.823 23.12 4.82 446.7
0.700 0.320 — — 7094 EUROSP 0.400 — — — — — 17.8 2.168 1.577 1.600 1.590 2879 CCM 1.590 -0.010 75 1.597 11.89 3.77 266.6
37.707 28.688 35.300 35.040 3689 F&N 35.200 -0.100 152.7 35.27 30.50 1.63 12,910 0.845 0.630 — — 8435 CEPCO 0.845 — — — — — 63.1
0.959 0.620 0.620 0.620 2755 FCW 0.620 UNCH 1 0.620 248.00 16.13 155.0 0.290 0.260 — — 0302 CETECH 0.285 — — — 17.70 0.35 98.6
0.505 0.428 0.500 0.490 6939 FIAMMA 0.490 UNCH 55.1 0.490 7.21 4.59 249.9 1.360 0.900 — — 8044 CFM 1.110 — — — — — 45.5
0.523 0.277 0.400 0.390 8605 FIHB 0.400 0.010 56 0.395 5.99 — 43.6 0.880 0.420 — — 8052 CGB 0.525 — — — — 1.85 47.3
1.955 1.247 1.660 1.630 9172 FPI 1.650 -0.010 137.2 1.643 10.29 6.06 408.1 0.450 0.275 — — 7187 CHGP 0.280 — — — 40.58 — 83.2
3.170 0.680 2.350 2.320 7184 G3 2.330 -0.010 42.4 2.336 — — 966.2 0.910 0.618 0.785 0.780 5273 CHINHIN 0.785 0.005 230 0.785 17.96 3.18 436.8
4.196 1.979 3.940 3.890 5102 GCB 3.930 0.010 409.6 3.911 8.46 0.76 1,887.0 1.945 1.508 1.670 1.650 5007 CHINWEL 1.660 UNCH 469.7 1.661 8.47 4.73 497.2
0.520 0.400 — — 5592 GCE 0.465 — — — — 4.30 91.6 1.759 1.320 1.510 1.470 5797 CHOOBEE 1.510 0.060 1.1 1.474 14.70 3.31 198.9
4.876 2.654 3.220 3.190 4715 GENM 3.210 UNCH 5341.6 3.207 — 3.43 19,061 0.500 0.221 0.500 0.435 7016 CHUAN 0.465 0.030 396 0.458 9.39 2.37 78.4
8.043 5.799 5.870 5.810 3182 GENTING 5.840 UNCH 6937.9 5.837 14.60 2.48 22,641 0.045 0.035 — — 7018 CME 0.035 — — — — — 20.4
0.415 0.100 0.180 0.170 5079 GETS 0.170 -0.010 809.6 0.173 — — 21.4 3.824 2.260 2.360 2.310 2852 CMSB 2.310 -0.020 253.3 2.320 11.58 3.20 2,481.8
0.165 0.105 0.130 0.120 0136 GREENYB 0.125 0.005 120.4 0.125 9.12 — 41.7 0.545 0.365 — — 7986 CNASIA 0.465 — — — 31.21 — 23.2
4.127 2.110 2.390 2.350 7668 HAIO 2.370 -0.010 284.5 2.370 14.42 5.49 711.7 1.370 0.735 0.925 0.925 5071 COASTAL 0.925 UNCH 2.9 0.925 33.64 — 492.0
3.780 3.227 3.650 3.630 5008 HARISON 3.630 -0.020 14 3.636 10.63 5.51 248.6 0.180 0.045 0.065 0.050 7195 COMCORP 0.065 -0.010 5 0.062 — — 9.1
0.135 0.055 — — 5187 HBGLOB 0.090 — — — 2.62 — 42.1 1.040 0.741 0.800 0.785 2127 COMFORT 0.795 0.010 169.8 0.792 15.41 1.89 463.4
25.200 17.019 24.680 24.240 3255 HEIM 24.600 0.120 101.1 24.56 24.99 3.90 7,431.6 0.030 0.015 0.020 0.015 5037 COMPUGT 0.020 UNCH 330 0.016 — — 49.0
11.600 8.153 10.400 10.140 3301 HLIND 10.380 0.080 49.4 10.19 9.96 3.85 3,403.6 1.194 0.939 1.010 1.000 5094 CSCSTEL 1.010 0.010 193.3 1.010 20.57 3.96 383.8
0.727 0.545 0.645 0.605 5160 HOMERIZ 0.625 0.020 1677.7 0.627 7.83 5.60 187.5 0.630 0.350 0.380 0.380 7157 CYL 0.380 0.010 10 0.380 — 10.53 38.0
1.048 0.890 0.915 0.910 5024 HUPSENG 0.910 UNCH 64.4 0.911 17.30 6.59 728.0 0.400 0.300 — — 5082 CYMAO 0.340 — — — — — 25.5
0.375 0.240 — — 8478 HWATAI 0.260 — — — — — 19.5 1.736 1.250 1.340 1.320 5184 CYPARK 1.320 -0.020 56.3 1.328 7.54 2.95 617.0
0.080 0.020 0.030 0.025 7243 IMPIANA 0.025 UNCH 4771.6 0.028 — — 139.9 2.370 1.550 1.720 1.700 8125 DAIBOCI 1.720 0.020 6 1.710 45.03 1.95 564.0
1.510 0.770 0.780 0.780 5107 IQGROUP 0.780 UNCH 2 0.780 — — 68.7 0.655 0.361 0.505 0.500 5276 DANCO 0.505 0.005 155.5 0.501 9.53 3.47 153.5
0.070 0.030 0.055 0.050 7223 JADI 0.055 UNCH 557 0.050 11.00 — 57.0 0.355 0.120 0.220 0.215 7212 DESTINI 0.220 UNCH 1254.4 0.216 — — 254.2
1.100 0.770 0.950 0.935 7152 JAYCORP 0.950 0.010 11 0.941 6.50 3.16 130.4 0.755 0.315 — — 7114 DNONCE 0.375 — — — — — 98.0
0.420 0.325 0.350 0.350 8931 JERASIA 0.350 UNCH 17 0.350 6.08 2.86 28.7 0.280 0.080 0.175 0.165 5835 DOLMITE 0.170 0.005 456.5 0.169 — — 48.4
1.577 0.800 1.380 1.370 7167 JOHOTIN 1.370 -0.020 165.7 1.378 9.24 4.74 425.3 0.170 0.070 0.085 0.075 5265 DOLPHIN 0.085 UNCH 1064 0.080 — — 20.8
0.380 0.260 — — 8672 KAMDAR 0.320 — — — 290.9 — 63.4 1.326 1.181 1.270 1.230 7169 DOMINAN 1.260 -0.040 3.8 1.248 9.12 5.56 208.2
0.798 0.375 0.475 0.450 5247 KAREX 0.470 0.020 7418.5 0.468 180.7 1.06 471.1 2.546 1.823 2.480 2.400 7233 DUFU 2.400 -0.080 1252.5 2.430 13.09 1.50 631.7
2.250 1.180 1.260 1.240 7216 KAWAN 1.260 0.020 169.3 1.257 26.64 1.98 453.0 2.000 0.485 0.575 0.560 7165 DWL 0.570 UNCH 365.8 0.570 — — 132.7
0.225 0.080 — — 8303 KFM 0.160 — — — — — 10.9 0.380 0.075 0.080 0.080 5178 DYNACIA 0.080 UNCH 270 0.080 — — 38.4
0.656 0.165 0.330 0.305 6203 KHEESAN 0.320 0.015 5535.2 0.321 7.17 3.13 36.6 3.460 2.235 3.460 3.280 1368 EDGENTA 3.450 0.050 174.8 3.398 18.81 4.06 2,869.1
1.880 1.400 — — 7062 KHIND 1.520 — — — 32.20 — 60.9 0.260 0.165 0.180 0.165 0064 EFFICEN 0.170 -0.010 60.2 0.169 — — 120.6
1.940 1.566 — — 0002 KOTRA 1.780 — — — 11.40 3.37 256.4 0.565 0.355 — — 8907 EG 0.375 — — — 7.81 — 103.1
0.980 0.295 0.900 0.855 7130 KPOWER 0.895 0.035 402.4 0.873 426.1 — 68.2 1.565 1.158 1.380 1.380 5208 EITA 1.380 0.030 2.2 1.380 10.22 4.35 179.4
0.140 0.055 0.100 0.095 5172 KSTAR 0.095 UNCH 2425.4 0.100 — — 40.4 0.990 0.710 0.750 0.710 9016 EKSONS 0.710 -0.060 9 0.720 — 7.04 116.6
0.195 0.050 0.090 0.085 4847 KTB 0.085 -0.005 468.6 0.085 — — 34.2 0.565 0.345 0.365 0.345 7217 EMETALL 0.365 0.015 38.2 0.354 101.3 — 68.7
0.660 0.410 0.485 0.445 1643 LANDMRK 0.485 0.035 31.5 0.452 — — 256.5 0.996 0.580 0.620 0.610 5056 ENGTEX 0.610 UNCH 76 0.612 — 1.23 270.4
4.065 2.890 2.990 2.950 7006 LATITUD 2.950 UNCH 10.1 2.958 14.84 1.02 286.8 0.470 0.315 — — 7773 EPMB 0.370 — — — — — 61.4
0.708 0.325 0.405 0.400 9385 LAYHONG 0.400 UNCH 590.3 0.400 37.04 1.25 264.1 0.580 0.245 0.255 0.255 5101 EVERGRN 0.255 UNCH 301.3 0.255 — 1.88 215.8
1.051 0.630 0.705 0.705 8079 LEESK 0.705 -0.005 17 0.705 11.56 3.55 118.3 1.330 1.050 1.250 1.240 2984 FACBIND 1.250 0.010 91 1.240 71.02 — 106.5
1.190 0.720 0.825 0.805 6633 LHI 0.820 0.020 3667.7 0.818 14.49 — 2,993.0 2.850 2.091 2.750 2.720 7229 FAVCO 2.730 -0.020 150.2 2.736 7.39 4.95 609.0
3.122 2.438 2.930 2.900 7089 LIIHEN 2.930 UNCH 61.3 2.919 7.37 5.29 527.4 0.320 0.305 — — 0302 FBBHD 0.320 — — — 21.62 — 69.1
0.630 0.105 0.165 0.145 7126 LONBISC 0.150 0.010 15074 0.156 48.39 — 43.6 0.580 0.330 — — 0149 FIBON 0.360 — — — 12.46 2.08 35.3
1.389 0.774 1.360 1.350 7085 LTKM 1.360 0.010 83.1 1.350 7.58 1.47 176.9 1.886 1.630 1.790 1.780 3107 FIMACOR 1.790 UNCH 2 1.785 7.79 6.98 439.0
5.850 3.767 5.850 5.600 7087 MAGNI 5.780 0.380 316 5.711 9.16 2.42 940.6 0.560 0.365 0.390 0.380 9318 FITTERS 0.380 -0.010 1539.1 0.384 10.11 — 182.6
2.870 1.688 2.870 2.790 3859 MAGNUM 2.830 0.030 1260.6 2.836 29.45 6.01 4,068.8 1.810 1.000 1.020 1.010 5197 FLBHD 1.020 UNCH 68.2 1.020 6.33 14.22 108.9
0.140 0.115 — — 3514 MARCO 0.115 — — — 8.71 2.61 121.2 0.390 0.199 0.390 0.375 5277 FPGROUP 0.375 -0.005 5756.6 0.381 16.45 2.67 195.0
0.015 0.005 — — 5189 MAXWELL 0.010 — — — — — 4.0 1.100 0.415 0.425 0.420 7197 GESHEN 0.420 -0.005 15 0.421 — — 33.6
1.270 0.748 1.260 1.240 5886 MBG 1.240 -0.010 108.5 1.250 74.25 1.21 75.4 0.545 0.360 0.375 0.365 5220 GLOTEC 0.370 UNCH 751.6 0.374 15.04 — 99.6
4.470 1.774 4.470 4.360 5983 MBMR 4.390 UNCH 897.7 4.405 7.43 3.42 1,716.0 0.285 0.145 0.155 0.150 7192 GOODWAY 0.150 0.005 50.7 0.153 — — 18.2
0.430 0.185 0.430 0.385 7234 MESB 0.415 0.005 821.1 0.414 10.64 — 34.0 0.145 0.080 0.105 0.105 7096 GPA 0.105 UNCH 6.2 0.105 — — 103.0
0.235 0.177 — — 0301 MFGROUP 0.235 — — — 391.6 — 75.2 0.259 0.160 0.190 0.190 5649 GPHAROS 0.190 0.005 10 0.190 90.48 6.68 26.0
0.877 0.435 0.580 0.565 3662 MFLOUR 0.575 0.010 1863.9 0.574 13.25 3.83 577.0 0.613 0.400 0.470 0.470 3247 GUH 0.470 -0.025 2.8 0.470 61.84 — 130.6
0.820 0.600 — — 7935 MILUX 0.800 — — — — — 43.5 10.180 8.946 9.890 9.670 3034 HAPSENG 9.890 0.190 376.6 9.795 38.78 3.54 24,623
0.120 0.035 0.075 0.075 5166 MINDA 0.075 UNCH 70 0.075 — — 93.0 6.919 4.503 5.380 5.260 5168 HARTA 5.330 0.020 4614.6 5.322 41.84 1.54 17,908.8
3.640 1.100 1.140 1.100 5202 MSM 1.120 UNCH 1242 1.116 61.54 — 787.3 7.060 4.290 4.340 4.290 4324 HENGYUAN 4.300 -0.040 412.3 4.307 — — 1,290.0
0.025 0.005 0.010 0.010 5150 MSPORTS 0.010 -0.005 50 0.010 — — 6.1 0.864 0.501 0.525 0.515 5095 HEVEA 0.520 UNCH 556.1 0.518 21.76 9.23 292.3
0.255 0.145 0.200 0.190 3891 MUIIND 0.195 0.005 381.8 0.194 — — 571.8 1.050 0.650 0.750 0.750 5151 HEXTAR 0.750 -0.085 4 0.750 — — 615.5
2.650 1.620 2.050 1.960 3905 MULPHA 2.010 UNCH 11.9 2.011 — — 642.4 0.806 0.637 0.730 0.710 3298 HEXZA 0.730 0.015 199 0.718 13.49 6.85 146.3
1.519 1.311 1.370 1.370 5275 MYNEWS 1.370 0.010 7 1.370 31.64 1.09 934.6 0.440 0.190 0.190 0.190 5072 HIAPTEK 0.190 UNCH 242.8 0.190 — 2.63 255.4
149.70 140.74 146.90 145.70 4707 NESTLE 146.900 UNCH 43.5 146.51 52.71 1.91 34,448 1.360 0.760 0.995 0.970 5199 HIBISCS 0.975 UNCH 11172 0.982 6.73 — 1,548.5
2.979 2.437 — — 7060 NHFATT 2.740 — — — 14.49 3.65 226.5 1.655 1.030 — — 7033 HIGHTEC 1.060 — — — 10.89 1.89 43.0
0.065 0.020 0.050 0.045 7139 NICE 0.050 UNCH 53 0.045 — — 35.1 0.654 0.447 — — 8443 HIL 0.515 — — — 12.94 3.40 172.0
0.267 0.145 0.155 0.150 7215 NIHSIN 0.150 UNCH 653.7 0.155 — — 48.2 0.810 0.400 0.560 0.550 5165 HOKHENG 0.560 UNCH 23.3 0.554 — — 49.3
0.583 0.385 0.435 0.425 5066 NTPM 0.435 0.020 1659.5 0.431 56.49 3.68 488.6 0.580 0.320 0.380 0.360 5291 HPMT 0.365 UNCH 515.4 0.368 — — 119.9
0.580 0.300 0.465 0.465 5533 OCB 0.465 0.025 6 0.465 — — 47.8 1.290 0.760 0.770 0.760 0185 HSSEB 0.765 -0.005 546.9 0.767 — — 379.3
0.567 0.395 0.420 0.410 0049 OCNCASH 0.420 UNCH 12 0.410 17.80 2.17 103.0 0.300 0.130 0.140 0.135 2739 HUAAN 0.135 UNCH 1452.7 0.136 15.34 — 151.5
0.888 0.623 0.675 0.655 7107 OFI 0.675 0.020 195.2 0.660 12.43 2.96 162.0 1.690 0.456 1.050 1.040 5000 HUMEIND 1.040 -0.010 150 1.040 — — 513.3
0.135 0.090 0.105 0.105 3018 OLYMPIA 0.105 UNCH 10.2 0.105 15.22 — 107.5 0.135 0.075 0.080 0.075 9601 HWGB 0.080 UNCH 7.5 0.078 — — 28.6
6.670 5.528 6.500 6.470 4006 ORIENT 6.470 0.010 15.2 6.482 10.05 3.09 4,013.9 2.330 1.850 2.250 2.220 7222 IMASPRO 2.250 UNCH 314.3 2.229 300.0 1.56 180.0
1.028 0.460 0.575 0.565 5260 OWG 0.575 0.005 168.9 0.569 — — 163.9 0.710 0.380 0.390 0.380 5673 IPMUDA 0.380 -0.005 5 0.386 — — 27.5
5.851 3.091 3.750 3.670 7052 PADINI 3.710 0.020 449.3 3.706 15.23 2.70 2,440.8 0.160 0.075 0.105 0.095 7183 IRETEX 0.100 -0.005 10.8 0.105 55.56 — 18.5
39.072 35.184 38.300 38.200 3719 PANAMY 38.200 -0.060 6.1 38.27 21.46 5.92 2,320.5 1.250 0.950 — — 7043 JADEM 1.120 — — — — — 142.0
0.460 0.291 — — 5022 PAOS 0.340 — — — 82.93 4.71 61.6 0.125 0.100 0.105 0.105 8648 JASKITA 0.105 UNCH 25 0.105 — — 47.2
0.350 0.230 — — 9407 PARAGON 0.310 — — — — — 21.7 1.635 1.304 — — 0058 JCBNEXT 1.390 — — — 16.18 2.88 191.5
0.445 0.195 0.215 0.210 5657 PARKSON 0.215 UNCH 196 0.215 — — 235.2 0.220 0.120 — — 9083 JETSON 0.135 — — — — — 28.6
0.635 0.185 0.460 0.425 6068 PCCS 0.435 0.005 17988 0.442 4.46 2.30 91.4 0.190 0.115 0.130 0.130 0054 KARYON 0.130 UNCH 314.9 0.130 15.29 3.46 61.8
0.590 0.285 0.355 0.335 5231 PELIKAN 0.345 -0.015 93 0.346 23.96 — 190.9 0.630 0.480 0.500 0.500 7199 KEINHIN 0.500 0.010 19.5 0.500 15.43 2.00 54.4
0.590 0.340 — — 9997 PENSONI 0.390 — — — 90.70 — 50.6 1.800 1.410 1.740 1.730 6491 KFIMA 1.730 -0.010 91.5 1.738 8.18 5.20 488.3
0.685 0.215 0.655 0.640 7080 PERMAJU 0.645 UNCH 3528.1 0.650 — — 126.4 1.410 0.867 1.270 1.250 0151 KGB 1.260 UNCH 326.2 1.254 16.94 1.43 392.4
27.850 21.069 23.880 22.160 5681 PETDAG 23.880 1.680 508.1 22.69 30.38 2.93 23,723 0.300 0.130 — — 6211 KIALIM 0.245 — — — — — 15.2
0.170 0.130 — — 4081 PMCORP 0.140 — — — 17.07 — 108.3 1.360 1.080 1.130 1.080 5371 KIMHIN 1.100 -0.070 31.5 1.104 — 4.55 171.2
0.120 0.035 0.060 0.055 1287 PMHLDG 0.060 -0.005 1079.5 0.060 — — 55.7 0.010 0.005 — — 5060 KINSTEL 0.005 — — — — — 5.2
0.555 0.431 0.515 0.510 5080 POHKONG 0.510 -0.005 67.5 0.514 8.64 1.96 209.3 1.520 0.775 1.400 1.400 9466 KKB 1.400 UNCH 0.1 1.400 15.52 2.86 360.9
1.597 1.250 1.450 1.400 7088 POHUAT 1.450 0.040 310.1 1.433 5.81 2.76 349.4 0.440 0.070 0.385 0.370 7164 KNM 0.375 0.005 23003 0.377 — — 977.0
19.600 16.679 18.580 18.500 4065 PPB 18.540 0.060 513.6 18.52 26.65 1.51 26,375 0.800 0.350 — — 5035 KNUSFOR 0.600 — — — — — 59.8
0.434 0.326 — — 7190 PPG 0.340 — — — 52.31 1.47 34.0 1.730 1.180 1.560 1.550 6971 KOBAY 1.560 0.010 12.8 1.554 8.54 — 159.3
0.845 0.565 0.845 0.800 7168 PRG 0.845 0.055 2215.8 0.831 — — 306.7 0.390 0.120 0.330 0.310 7017 KOMARK 0.320 -0.015 6939.9 0.321 — — 55.0
4.529 3.543 4.350 4.240 7153 KOSSAN 4.280 0.010 1062.1 4.291 24.10 1.40 5,473.8
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 6 Markets T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY

BURSA MAL AYSIA MAIN MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.269 0.700 0.760 0.745 5843 KPS 0.745 -0.005 380.7 0.752 — 5.70 400.4 5.950 4.517 5.800 5.750 5225 IHH 5.800 0.030 3041.8 5.789 84.18 0.52 50,889.1
0.565 0.470 0.485 0.480 9121 KPSCB 0.485 -0.015 17.9 0.482 9.49 — 71.7 4.529 3.543 4.350 4.240 7153 KOSSAN 4.280 0.010 1062.1 4.291 24.10 1.40 5,473.8
4.937 3.844 4.510 4.440 3476 KSENG 4.510 0.010 40.2 4.464 21.51 2.22 1,630.3 1.940 1.566 — — 0002 KOTRA 1.780 — — — 11.40 3.37 256.4
0.590 0.281 0.440 0.440 5192 KSSC 0.440 -0.040 10 0.440 — 1.14 42.2 1.119 0.870 0.915 0.900 5878 KPJ 0.910 0.010 2282.8 0.909 21.77 2.20 4,039.3
0.530 0.225 0.345 0.335 6874 KUB 0.345 0.015 315.5 0.339 — 2.90 192.0 2.947 1.931 2.490 2.480 7081 PHARMA 2.480 0.020 39.4 2.485 13.35 6.25 647.8
0.435 0.220 0.270 0.250 8362 KYM 0.270 0.020 39.8 0.258 15.25 — 40.5 0.135 0.075 0.090 0.080 0302 SMILE 0.090 UNCH 700.5 0.080 36.00 1.33 85.5
4.570 1.800 3.360 3.330 3794 LAFMSIA 3.330 -0.020 36.1 3.349 — — 2,829.5 2.005 1.400 1.620 1.520 7106 SUPERMX 1.590 0.070 18508.7 1.582 16.84 2.28 2,162.9
0.615 0.440 0.485 0.485 9326 LBALUM 0.485 -0.005 2.5 0.485 9.90 3.09 120.5 0.825 0.665 0.670 0.665 0101 TMCLIFE 0.670 0.005 112.3 0.665 35.45 0.27 1,167.1
4.899 2.460 2.640 2.600 5284 LCTITAN 2.620 -0.020 374.5 2.616 15.48 6.49 6,046.4 6.246 4.265 4.770 4.720 7113 TOPGLOV 4.750 0.030 6543.7 4.745 31.35 1.79 12,162.8
0.609 0.387 0.480 0.460 5232 LEONFB 0.480 0.025 58.9 0.464 7.43 3.13 148.8 0.500 0.230 — — 0301 TOPVISN 0.500 — — — 42.74 — 127.8
0.250 0.100 — — 8745 LEWEKO 0.190 — — — — — 61.2 3.272 2.210 2.310 2.300 7178 YSPSAH 2.300 UNCH 33.9 2.301 13.02 3.04 321.0
0.160 0.085 — — 7170 LFECORP 0.135 — — — — — 27.6 FINANCIAL SERVICES
0.775 0.375 0.430 0.430 8486 LIONFIB 0.430 UNCH 4.9 0.430 10.80 — 99.6 4.248 2.900 3.000 2.980 2488 ABMB 3.000 0.010 1209.8 2.995 9.70 5.57 4,644.3
1.050 0.375 0.405 0.385 4235 LIONIND 0.400 0.010 2198.5 0.397 — — 287.2 17.114 14.393 14.900 14.780 5139 AEONCR 14.900 0.080 46.9 14.826 74.13 2.99 3,738.3
0.420 0.250 — — 9881 LSTEEL 0.270 — — — — — 34.6 2.397 1.930 2.030 1.980 5185 AFFIN 2.010 UNCH 51.7 2.005 7.87 2.49 3,991.9
0.100 0.065 0.070 0.070 5068 LUSTER 0.070 UNCH 121 0.070 11.86 — 138.3 14.980 11.361 14.560 14.520 1163 ALLIANZ 14.540 -0.020 3.6 14.550 7.67 2.75 2,570.2
0.614 0.476 0.485 0.480 5143 LUXCHEM 0.485 0.005 102.6 0.481 11.05 4.64 433.8 4.482 3.533 4.190 4.130 1015 AMBANK 4.130 -0.050 2070.4 4.161 8.02 4.84 12,448.6
2.823 2.191 — — 9199 LYSAGHT 2.400 — — — 11.57 2.92 99.8 1.215 0.780 — — 5088 APEX 0.780 — — — 15.57 — 166.6
0.660 0.340 0.415 0.400 5098 MASTEEL 0.410 0.005 266.5 0.409 — — 175.2 4.750 3.252 4.150 3.960 5258 BIMB 3.960 -0.070 1060.7 3.999 9.01 3.91 6,986.6
1.480 0.560 1.480 1.430 7029 MASTER 1.450 0.030 2642.8 1.455 8.21 2.41 79.2 7.586 5.817 6.250 6.220 1818 BURSA 6.240 -0.010 182.1 6.243 25.89 3.53 5,045.1
1.400 0.873 1.210 1.210 5152 MBL 1.210 UNCH 11 1.210 7.39 3.72 129.1 6.010 4.940 5.060 5.010 1023 CIMB 5.030 0.030 8521.3 5.028 9.61 4.97 48,928.9
0.790 0.435 — — 7004 MCEHLDG 0.640 — — — — — 28.4 0.345 0.235 0.270 0.270 2143 ECM 0.270 UNCH 0.3 0.270 — — 129.6
0.190 0.090 0.135 0.130 3778 MELEWAR 0.130 0.005 121 0.134 — — 46.7 1.700 1.088 1.660 1.640 5228 ELKDESA 1.640 -0.020 35 1.644 14.19 4.27 487.1
0.700 0.435 0.570 0.570 5223 MENTIGA 0.570 UNCH 3 0.570 18.21 — 39.9 21.497 16.200 16.600 16.320 5819 HLBANK 16.400 0.080 825 16.39 12.59 2.93 35,550.6
1.738 1.487 — — 6149 METROD 1.500 — — — 25.95 4.00 180.0 10.100 7.327 — — 5274 HLCAP 9.600 — — — 34.04 1.98 2,370.2
0.425 0.220 0.300 0.290 5001 MIECO 0.300 0.005 624 0.295 — — 157.5 19.819 16.000 16.720 16.320 1082 HLFG 16.640 0.340 190.4 16.55 9.92 2.52 19,094.7
0.070 0.045 0.050 0.050 7219 MINETEC 0.050 -0.005 35 0.050 — — 46.1 0.900 0.645 0.825 0.810 3379 INSAS 0.815 -0.010 484.6 0.818 6.60 2.45 565.1
0.424 0.250 0.260 0.250 5576 MINHO 0.250 UNCH 84.5 0.251 6.67 — 85.1 0.130 0.070 0.080 0.080 3441 JOHAN 0.080 UNCH 227.1 0.080 — — 49.8
0.998 0.785 0.805 0.800 5916 MSC 0.805 0.010 59.1 0.801 7.39 2.48 322.0 0.720 0.486 0.500 0.495 6483 KENANGA 0.500 0.005 29.5 0.496 52.63 2.20 361.4
0.105 0.050 0.075 0.055 0043 MTRONIC 0.055 -0.015 157256 0.067 — — 62.3 2.150 1.540 1.830 1.800 2186 KUCHAI 1.830 0.030 10 1.815 101.10 0.55 226.5
2.147 1.457 1.540 1.520 3883 MUDA 1.520 -0.010 110 1.528 6.10 2.96 463.7 16.422 14.641 15.740 15.680 8621 LPI 15.720 0.040 33.3 15.71 19.34 4.39 6,262.6
0.450 0.225 0.270 0.270 5087 MYCRON 0.270 UNCH 3.8 0.270 — — 88.3 1.003 0.375 — — 1198 MAA 0.860 — — — — 10.47 235.2
0.640 0.345 0.385 0.385 7241 NGGB 0.385 -0.010 120 0.385 132.7 — 192.9 2.850 2.244 2.720 2.720 1058 MANULFE 2.720 UNCH 9 2.720 17.64 2.57 550.4
0.145 0.060 0.080 0.065 5025 NWP 0.080 UNCH 53.5 0.070 — — 34.2 9.463 8.500 8.910 8.870 1155 MAYBANK 8.890 0.030 11228 8.888 12.21 6.41 99,935
0.709 0.555 0.600 0.595 4944 NYLEX 0.600 -0.005 89.1 0.596 — 3.33 116.6 1.025 0.820 0.855 0.845 1171 MBSB 0.850 UNCH 813 0.849 12.46 5.88 5,706.4
0.789 0.539 0.610 0.610 7140 OKA 0.610 UNCH 248.2 0.610 13.65 6.07 149.7 1.290 0.845 1.090 1.070 6459 MNRB 1.090 0.010 128.6 1.076 7.55 — 836.1
1.171 0.858 0.940 0.910 5065 ORNA 0.940 0.030 5.1 0.911 7.42 2.66 70.7 1.250 0.985 1.120 1.070 5237 MPHBCAP 1.120 0.010 40.3 1.089 22.67 — 800.8
0.075 0.045 0.055 0.050 7225 PA 0.055 0.005 1510.1 0.050 22.00 — 102.9 0.989 0.937 0.980 0.970 6009 P&O 0.975 -0.005 34.3 0.972 — 6.41 279.8
0.592 0.421 0.485 0.455 8419 PANSAR 0.460 -0.020 1441.4 0.481 35.94 2.17 212.5 25.339 20.000 20.200 20.100 1295 PBBANK 20.160 UNCH 4135 20.14 14.16 3.47 78,263.9
0.597 0.395 0.500 0.490 5125 PANTECH 0.490 UNCH 205.4 0.493 8.25 4.04 367.8 1.667 1.304 1.560 1.550 9296 RCECAP 1.560 0.010 120.4 1.551 5.52 5.77 575.3
9.845 6.750 7.240 6.970 5183 PCHEM 7.230 0.230 6986.4 7.146 12.90 4.01 57,840 5.970 4.937 5.700 5.630 1066 RHBBANK 5.660 0.010 2692.2 5.655 9.51 4.51 22,696.9
1.300 0.651 1.110 1.090 5271 PECCA 1.110 0.010 170.4 1.097 12.27 4.95 208.7 0.665 0.537 0.655 0.640 4898 TA 0.645 0.005 226.6 0.643 — 6.36 1,104.2
4.879 4.175 4.680 4.540 5436 PERSTIM 4.580 0.050 2.9 4.603 11.23 6.55 454.8 7.180 3.348 5.920 5.760 6139 TAKAFUL 5.860 0.040 196.5 5.853 13.74 2.56 4,845.0
1.570 0.950 1.320 1.280 5219 PESTECH 1.300 0.040 1203 1.296 16.19 — 993.6 0.765 0.502 0.635 0.625 5230 TUNEPRO 0.635 0.005 263.1 0.631 9.71 4.72 477.4
19.577 14.740 16.400 16.160 6033 PETGAS 16.320 0.060 809.1 16.25 17.59 4.41 32,292.9 PROPERTY
8.395 5.190 5.460 5.400 3042 PETRONM 5.400 -0.010 8.2 5.444 8.39 3.70 1,458.0 0.300 0.225 — — 7131 ACME 0.245 — — — 5.74 — 58.5
1.200 0.925 — — 3611 PGLOBE 1.080 — — — 192.86 — 201.6 0.644 0.464 0.495 0.480 1007 AMPROP 0.490 UNCH 103.2 0.490 12.63 6.12 299.0
0.160 0.090 0.115 0.115 7201 PICORP 0.115 UNCH 10 0.115 164.29 4.35 75.7 0.335 0.220 0.260 0.250 1007PA AMPROP-PA 0.260 0.010 74.9 0.252 — 7.69 74.6
1.703 1.070 1.110 1.100 7095 PIE 1.100 -0.010 517.2 1.100 11.20 2.18 422.4 1.280 0.870 1.070 1.070 5959 AMVERTON 1.070 UNCH 10 1.070 5.54 — 390.6
0.325 0.100 — — 7163 PJBUMI 0.220 — — — 17.19 — 18.0 0.650 0.270 — — 7007 ARK 0.270 — — — — — 13.1
4.254 3.040 — — 7172 PMBTECH 3.190 — — — 53.79 0.63 668.6 0.170 0.110 0.125 0.120 4057 ASIAPAC 0.125 UNCH 227.1 0.120 3.71 — 129.6
5.111 3.958 4.920 4.870 8869 PMETAL 4.900 0.010 1535.8 4.891 36.84 1.22 19,786 5.243 4.020 — — 2305 AYER 4.220 — — — 20.62 1.18 315.9
0.570 0.450 0.550 0.540 6637 PNEPCB 0.545 0.005 3575.2 0.546 — — 71.7 0.390 0.220 0.275 0.265 6602 BCB 0.270 0.005 592.5 0.266 2.76 — 111.4
0.505 0.260 0.380 0.380 8117 POLY 0.380 0.040 10 0.380 12.06 — 60.8 0.585 0.285 0.340 0.340 6173 BDB 0.340 0.005 25 0.340 — — 103.3
0.675 0.390 0.655 0.635 8273 PPHB 0.645 UNCH 211.2 0.645 5.91 — 121.7 0.300 0.110 0.170 0.170 9814 BERTAM 0.170 0.010 2 0.170 — — 35.1
0.778 0.410 0.425 0.415 9873 PRESTAR 0.415 -0.010 20 0.421 180.4 3.61 85.0 0.340 0.245 0.305 0.305 3239 BJASSET 0.305 UNCH 50 0.305 — — 780.2
0.080 0.035 0.050 0.045 7123 PWORTH 0.045 -0.005 1497 0.046 — — 184.3 1.580 1.090 — — 5738 CHHB 1.320 — — — 4.02 — 363.9
0.850 0.710 — — 7544 QUALITY 0.780 — — — — — 45.2 1.405 1.150 1.180 1.170 6718 CRESNDO 1.170 UNCH 77.4 1.170 8.12 5.13 328.1
0.390 0.190 — — 7498 RALCO 0.220 — — — — — 10.2 1.590 1.108 1.290 1.280 5049 CVIEW 1.280 0.070 14.6 1.283 1.68 3.91 128.0
0.520 0.165 0.195 0.185 5256 REACH 0.190 0.005 2326.1 0.190 — — 208.3 0.565 0.220 0.405 0.400 3484 DBHD 0.405 -0.010 166.5 0.405 5.56 — 128.9
0.340 0.241 — — 7232 RESINTC 0.310 — — — 12.16 8.06 42.5 0.095 0.050 0.060 0.055 7198 DPS 0.060 UNCH 16.4 0.055 — — 35.3
0.245 0.145 0.150 0.150 9954 RGTBHD 0.150 UNCH 35.6 0.150 14.29 — 86.5 1.423 0.736 0.760 0.755 3417 E&O 0.755 UNCH 439.3 0.759 19.61 3.97 1,100.0
1.100 0.491 0.550 0.535 9741 ROHAS 0.540 UNCH 440.2 0.538 16.36 4.63 255.2 0.330 0.285 0.330 0.325 3557 ECOFIRS 0.325 -0.005 255.2 0.325 10.94 — 261.9
0.584 0.412 0.505 0.500 7803 RUBEREX 0.500 -0.015 214.5 0.500 19.76 4.00 126.1 1.280 0.625 0.685 0.650 8206 ECOWLD 0.685 0.035 10284 0.667 11.29 — 2,016.9
3.925 3.531 — — 5134 SAB 3.570 — — — 24.93 1.40 488.9 0.500 0.270 — — 6076 ENCORP 0.320 — — — — — 98.1
8.640 6.949 8.080 7.910 9822 SAM 8.000 0.010 1.9 7.950 13.66 2.18 1,081.3 2.008 0.882 1.200 1.140 8613 ENRA 1.200 0.050 20.8 1.174 — 2.50 163.4
0.921 0.550 0.580 0.580 5147 SAMCHEM 0.580 UNCH 64.7 0.580 7.73 5.17 157.8 0.785 0.550 0.610 0.610 6815 EUPE 0.610 0.005 1.5 0.610 2.32 — 78.1
0.836 0.654 0.720 0.715 7811 SAPIND 0.720 0.020 4 0.718 9.74 6.94 52.4 0.735 0.491 0.610 0.600 7249 EWEIN 0.600 -0.005 426.2 0.606 3.96 0.83 181.0
0.510 0.205 0.285 0.270 5170 SCABLE 0.280 0.010 198.5 0.275 — — 88.8 1.110 0.600 0.640 0.630 5283 EWINT 0.635 UNCH 1007.5 0.633 16.67 — 1,524.0
1.500 0.760 0.855 0.820 7247 SCGM 0.850 0.030 299.5 0.842 — 1.76 164.6 0.400 0.325 0.335 0.330 6041 FARLIM 0.335 UNCH 208 0.334 — — 56.4
1.270 0.300 1.100 1.090 9237 SCIB 1.090 UNCH 161 1.091 — — 93.6 0.414 0.345 0.375 0.370 5020 GLOMAC 0.370 UNCH 184.9 0.371 19.68 2.16 296.0
1.790 0.741 0.955 0.930 0099 SCICOM 0.940 UNCH 1904 0.941 16.52 5.85 334.1 0.370 0.240 0.265 0.260 9962 GMUTUAL 0.265 UNCH 80 0.265 16.88 1.89 99.5
9.269 7.910 8.500 8.440 4731 SCIENTX 8.500 0.100 42.7 8.464 14.55 2.35 4,379.7 0.230 0.155 — — 1147 GOB 0.180 — — — — — 81.8
0.245 0.105 0.145 0.140 7239 SCNWOLF 0.140 UNCH 80 0.143 — — 13.5 0.225 0.135 0.180 0.180 7077 GSB 0.180 UNCH 285.6 0.180 163.64 — 99.4
0.415 0.155 0.190 0.185 7073 SEACERA 0.190 UNCH 5058.7 0.189 — — 90.2 0.834 0.645 0.670 0.650 1503 GUOCO 0.670 0.005 33.4 0.664 — 2.99 469.3
0.365 0.090 0.360 0.345 5145 SEALINK 0.355 UNCH 5713.2 0.353 — — 177.5 1.300 1.200 1.240 1.230 7105 HCK 1.230 UNCH 241 1.234 47.13 — 520.1
0.520 0.180 0.500 0.495 5163 SEB 0.495 -0.005 105.2 0.497 — — 39.6 0.725 0.520 — — 7010 HOOVER 0.585 — — — — — 23.4
0.995 0.746 0.940 0.920 5181 SIGGAS 0.940 UNCH 40.6 0.920 48.96 0.53 176.3 0.465 0.300 0.345 0.330 5062 HUAYANG 0.345 0.005 89.3 0.340 — — 121.4
0.690 0.410 — — 7115 SKBSHUT 0.500 — — — 15.63 — 20.0 0.485 0.306 0.325 0.310 4251 IBHD 0.315 -0.010 195.8 0.317 11.45 5.56 319.6
1.440 0.945 1.070 1.050 7155 SKPRES 1.060 -0.010 690.4 1.060 14.83 3.62 1,325.2 0.734 0.147 0.625 0.605 5084 IBRACO 0.605 -0.025 34 0.615 9.28 3.72 300.3
1.420 0.809 1.410 1.310 7248 SLP 1.400 -0.010 11.3 1.381 17.54 3.93 443.7 1.760 0.990 1.520 1.510 9687 IDEAL 1.510 -0.020 40.8 1.512 3.54 0.66 700.0
0.530 0.370 — — 7132 SMISCOR 0.430 — — — 24.71 — 19.3 2.900 2.200 2.710 2.700 5606 IGBB 2.700 -0.030 21.9 2.710 7.24 0.37 1,861.8
1.460 0.720 1.000 0.950 5665 SSTEEL 0.990 UNCH 4.8 0.977 — 3.54 429.3 1.730 1.110 1.140 1.130 5249 IOIPG 1.140 UNCH 1433 1.136 9.49 2.63 6,277.0
0.850 0.400 0.475 0.420 6904 SUBUR 0.475 UNCH 1.6 0.423 — — 99.3 0.290 0.175 0.195 0.185 5175 IVORY 0.195 0.010 377 0.190 216.67 12.82 95.6
1.120 0.520 0.980 0.890 7207 SUCCESS 0.980 0.090 2133.1 0.931 15.26 1.02 244.0 1.320 0.365 0.920 0.900 1589 IWCITY 0.910 0.010 11169 0.910 — — 762.0
1.720 1.318 1.640 1.610 5211 SUNWAY 1.630 -0.010 4543.6 1.628 11.54 3.06 8,042.3 0.360 0.250 — — 8923 JIANKUN 0.320 — — — 26.45 — 53.4
1.370 0.740 0.800 0.795 7235 SUPERLN 0.800 UNCH 41.3 0.799 12.36 2.88 128.0 0.090 0.070 0.070 0.070 6769 JKGLAND 0.070 UNCH 302 0.070 63.64 1.43 159.2
2.005 1.400 1.620 1.520 7106 SUPERMX 1.590 0.070 18508 1.582 16.84 2.28 2,162.9 0.125 0.075 0.090 0.090 3115 KBUNAI 0.090 UNCH 550 0.090 100.00 — 519.9
0.360 0.180 — — 5149 TAS 0.250 — — — 11.01 — 45.0 0.840 0.537 — — 7323 KEN 0.600 — — — — 2.50 115.0
6.800 4.050 — — 4448 TASEK 5.250 — — — — — 649.0 0.960 0.675 0.790 0.785 5038 KSL 0.790 -0.005 88 0.790 3.31 — 819.6
0.235 0.110 0.115 0.110 7097 TAWIN 0.110 UNCH 1945.6 0.112 — — 39.2 0.185 0.130 0.155 0.150 3174 L&G 0.150 UNCH 283.3 0.150 10.34 6.67 446.0
1.020 0.660 0.725 0.725 5289 TECHBND 0.725 -0.010 1.9 0.725 23.54 — 166.8 0.784 0.416 0.640 0.635 8494 LBICAP 0.635 -0.010 35.5 0.638 5.05 7.87 64.5
0.840 0.415 0.445 0.445 8702 TEXCHEM 0.445 UNCH 1 0.445 — 22.47 55.2 0.847 0.486 0.520 0.515 5789 LBS 0.515 UNCH 428.1 0.517 11.52 3.50 807.1
2.720 2.004 2.520 2.480 7034 TGUAN 2.500 UNCH 233.4 2.500 6.72 3.20 440.7 0.350 0.220 — — 3573 LIENHOE 0.250 — — — — — 90.4
1.512 0.983 — — 7374 TIENWAH 1.230 — — — — 6.50 178.0 1.250 0.800 1.050 1.030 7617 MAGNA 1.030 0.010 16 1.038 — — 345.0
0.680 0.396 — — 7854 TIMWELL 0.600 — — — 8.93 3.33 53.4 1.073 0.812 0.860 0.840 8583 MAHSING 0.845 -0.005 584.4 0.844 13.74 5.33 2,051.4
0.740 0.430 0.480 0.465 7285 TOMYPAK 0.475 UNCH 277.5 0.470 — 0.63 199.4 0.695 0.390 0.500 0.490 6181 MALTON 0.500 0.005 1084.7 0.493 29.76 4.00 264.1
4.066 2.470 2.590 2.550 5010 TONGHER 2.590 0.050 14.5 2.562 11.07 7.72 407.7 2.002 1.747 1.930 1.910 5236 MATRIX 1.930 UNCH 53.4 1.921 6.55 6.35 1,566.8
6.246 4.265 4.770 4.720 7113 TOPGLOV 4.750 0.030 6543.7 4.745 31.35 1.79 12,162 1.827 1.360 — — 7189 MBWORLD 1.550 — — — 5.08 5.23 243.9
1.040 0.575 0.720 0.690 7173 TOYOINK 0.720 0.025 56.8 0.695 16.71 2.78 77.0 0.800 0.210 0.225 0.210 5182 MCT 0.215 -0.020 885.9 0.217 4.55 — 313.3
0.814 0.543 — — 5167 TURBO 0.640 — — — 13.11 3.13 69.1 0.480 0.290 0.350 0.335 1694 MENANG 0.335 UNCH 7.2 0.335 19.94 — 161.1
2.982 2.303 2.840 2.800 7100 UCHITEC 2.820 -0.020 41.1 2.820 17.22 4.96 1,271.6 0.420 0.065 0.075 0.065 5040 MERIDIAN 0.075 0.005 14472 0.070 — — 36.9
0.800 0.385 — — 7133 ULICORP 0.495 — — — — — 107.8 0.350 0.185 0.185 0.185 8141 MJPERAK 0.185 -0.005 20 0.185 12.25 — 47.6
2.494 1.840 — — 7137 UMS 2.000 — — — 26.39 3.00 81.4 1.410 1.110 1.250 1.210 6114 MKH 1.240 0.030 280.2 1.226 9.30 2.82 727.3
1.068 0.850 — — 7227 UMSNGB 0.930 — — — 9.07 3.23 74.4 0.220 0.165 0.170 0.165 8893 MKLAND 0.170 0.005 1063.9 0.165 32.69 — 205.2
1.450 0.905 1.300 1.240 7091 UNIMECH 1.240 -0.060 381.4 1.257 9.63 3.06 196.9 0.165 0.070 0.115 0.110 6548 MPCORP 0.115 0.015 366.4 0.113 — — 33.1
0.750 0.300 0.315 0.310 4995 VERSATL 0.310 -0.010 37 0.310 — — 44.0 1.125 0.558 0.770 0.750 1651 MRCB 0.770 0.025 6462.4 0.761 95.06 2.27 3,397.3
1.744 0.610 1.300 1.280 6963 VS 1.290 UNCH 3764.2 1.289 15.25 3.10 2,374.1 0.540 0.380 — — 9539 MUH 0.400 — — — — — 22.6
1.150 0.595 0.615 0.600 5142 WASEONG 0.605 0.010 799.3 0.606 8.64 — 468.8 0.280 0.160 0.170 0.165 3913 MUIPROP 0.170 0.010 3411.8 0.165 17.35 — 129.9
0.950 0.400 — — 7226 WATTA 0.485 — — — — — 41.0 1.440 0.430 0.985 0.955 5073 NAIM 0.960 -0.020 17763 0.969 2.78 — 493.2
1.277 1.068 1.180 1.180 7231 WELLCAL 1.180 UNCH 27 1.180 15.90 4.75 587.6 2.280 1.970 2.150 2.150 5827 OIB 2.150 UNCH 3 2.150 5.86 3.72 332.9
0.700 0.460 0.560 0.560 7692 WIDETEC 0.560 UNCH 2.5 0.560 17.34 — 25.1 0.969 0.809 0.950 0.940 5053 OSK 0.950 0.005 750.4 0.946 5.06 5.26 1,990.5
0.824 0.435 0.455 0.435 7050 WONG 0.455 -0.005 18.6 0.436 14.49 3.30 52.1 1.752 1.261 1.340 1.330 1724 PARAMON 1.330 0.010 240.3 1.331 10.37 4.73 806.9
0.830 0.550 — — 7025 WOODLAN 0.615 — — — 62.76 — 24.6 0.460 0.320 0.360 0.320 6912 PASDEC 0.360 0.010 281.5 0.359 — — 144.1
1.700 1.020 1.140 1.140 5009 WTHORSE 1.140 -0.010 0.5 1.140 — — 273.6 0.015 0.005 0.010 0.005 4464 PHB 0.005 UNCH 229.4 0.005 — — 36.0
0.696 0.404 0.485 0.485 4243 WTK 0.485 UNCH 18.2 0.485 — 3.09 233.5 1.690 1.020 — — 7055 PLB 1.100 — — — 112.24 — 123.6
0.410 0.160 0.245 0.235 7245 WZSATU 0.240 UNCH 2109 0.242 — — 111.6 1.580 1.300 1.330 1.320 5075 PLENITU 1.320 -0.010 11 1.328 13.07 3.41 503.6
0.695 0.530 0.530 0.530 5048 YILAI 0.530 UNCH 16.4 0.530 — — 77.2 6.150 5.210 5.890 5.890 7765 RAPID 5.890 -0.010 17 5.890 188.18 — 629.6
0.220 0.090 0.100 0.100 7020 YKGI 0.100 -0.005 91 0.100 — — 35.1 0.840 0.585 0.640 0.600 4596 SAPRES 0.600 -0.040 110 0.627 — — 83.8
0.360 0.200 — — 7014 YLI 0.210 — — — — — 21.6 0.630 0.400 — — 5207 SBCCORP 0.475 — — — 7.88 2.11 122.6
CONSTRUCTION 0.757 0.582 0.665 0.615 2224 SDRED 0.615 -0.015 66.5 0.623 10.27 3.25 262.1
0.485 0.241 0.415 0.400 5281 ADVCON 0.415 0.015 2943.3 0.409 16.87 2.41 167.2 0.400 0.285 0.325 0.325 4286 SEAL 0.325 0.005 0.1 0.325 4.32 — 79.0
0.575 0.274 0.380 0.375 7078 AZRB 0.380 0.005 328.2 0.376 25.85 2.34 227.2 2.524 2.108 2.370 2.360 6017 SHL 2.360 UNCH 74.8 2.363 10.07 6.78 571.4
0.250 0.145 0.155 0.150 5190 BENALEC 0.155 UNCH 36 0.150 — — 133.6 1.199 0.790 0.860 0.840 5288 SIMEPROP 0.855 0.015 4823.1 0.851 39.04 2.34 5,814.7
0.295 0.120 0.130 0.125 5932 BPURI 0.130 UNCH 207.6 0.127 72.22 — 49.7 0.220 0.130 0.140 0.135 4375 SMI 0.135 -0.005 14.2 0.139 — — 28.3
0.811 0.706 0.800 0.780 8761 BREM 0.800 UNCH 31.7 0.780 19.28 5.00 276.4 0.545 0.190 0.230 0.225 5213 SNTORIA 0.225 -0.005 1228.5 0.226 11.97 — 127.6
1.156 0.755 0.950 0.945 8591 CRESBLD 0.950 UNCH 118.4 0.945 2.49 4.74 168.1 2.742 1.390 1.430 1.390 8664 SPSETIA 1.400 -0.010 3292 1.402 24.69 6.11 5,659.5
1.808 1.572 — — 7528 DKLS 1.720 — — — 34.96 1.74 159.4 0.950 0.580 0.700 0.700 3743 SUNSURIA 0.700 UNCH 2 0.700 4.02 — 627.1
0.880 0.360 0.790 0.765 5253 ECONBHD 0.775 0.005 11125 0.779 40.79 2.06 1,036.6 0.496 0.320 0.425 0.410 1538 SYMLIFE 0.425 0.015 198 0.417 2.07 — 250.9
1.040 0.411 0.825 0.815 8877 EKOVEST 0.815 UNCH 19742 0.818 12.83 1.23 2,163.7 0.315 0.190 0.315 0.280 4022 TADMAX 0.310 0.030 13297 0.303 19.50 — 243.0
0.520 0.300 0.370 0.365 7047 FAJAR 0.365 -0.005 296.7 0.369 9.46 4.11 136.5 0.278 0.222 0.235 0.235 5158 TAGB 0.235 UNCH 138.7 0.235 24.48 6.81 1,250.6
0.960 0.475 0.735 0.710 9261 GADANG 0.730 0.020 1143.2 0.722 11.11 4.11 531.5 0.055 0.025 0.035 0.035 2259 TALAMT 0.035 UNCH 106 0.035 50.00 — 150.3
3.978 1.918 3.620 3.470 5398 GAMUDA 3.620 0.120 2429.6 3.525 21.26 3.31 8,952.1 0.867 0.666 0.755 0.745 5191 TAMBUN 0.745 UNCH 70.5 0.751 6.36 6.58 322.9
1.540 0.658 1.330 1.290 5226 GBGAQRS 1.300 0.010 1203.4 1.315 13.22 3.02 643.0 0.085 0.040 0.055 0.050 2429 TANCO 0.055 UNCH 407.2 0.052 — — 40.8
1.380 0.717 1.090 1.040 3204 GKENT 1.080 0.050 2395.2 1.064 7.61 4.63 608.3 0.310 0.175 0.195 0.190 7889 THRIVEN 0.190 UNCH 266.1 0.193 3.59 — 103.9
0.695 0.280 0.510 0.505 5169 HOHUP 0.510 UNCH 79.8 0.506 8.10 — 191.2 0.100 0.030 0.055 0.050 7079 TIGER 0.055 UNCH 142 0.050 — — 69.8
1.587 1.271 1.340 1.340 6238 HSL 1.340 UNCH 24 1.340 13.07 1.79 780.8 0.355 0.285 — — 5239 TITIJYA 0.295 — — — 11.35 0.85 396.6
2.510 1.361 2.270 2.210 3336 IJM 2.220 UNCH 3825.3 2.229 19.29 1.80 8,079.2 0.895 0.778 0.845 0.840 5401 TROP 0.840 -0.005 201.2 0.841 7.11 3.31 1,235.2
0.290 0.090 0.160 0.150 5268 IKHMAS 0.155 -0.005 2294.5 0.155 — — 91.2 1.020 0.620 0.695 0.680 5148 UEMS 0.695 0.015 462.6 0.687 28.25 — 3,153.5
0.630 0.444 — — 8834 IREKA 0.500 — — — — 4.00 93.4 2.350 1.733 2.000 1.990 5200 UOADEV 1.990 0.010 6.3 1.993 8.84 7.04 3,914.6
1.080 0.405 0.765 0.750 4723 JAKS 0.760 0.015 3609.1 0.758 8.85 — 488.8 0.170 0.090 — — 6378 WMG 0.090 — — — — — 38.4
1.490 0.975 1.410 1.400 7161 KERJAYA 1.400 0.020 72.7 1.408 12.24 2.50 1,738.8 0.995 0.650 — — 7003 Y&G 0.850 — — — 21.79 — 169.5
1.460 0.972 1.270 1.250 5171 KIMLUN 1.260 -0.020 13.8 1.262 6.06 2.94 428.2 2.800 1.040 2.570 2.520 3158 YNHPROP 2.540 -0.040 147.2 2.541 67.20 — 1,343.7
1.060 0.735 — — 9628 LEBTECH 0.860 — — — — — 117.4 0.825 0.190 0.200 0.195 7066 YONGTAI 0.200 0.005 420 0.196 — — 137.8
0.622 0.420 — — 5129 MELATI 0.430 — — — 57.33 2.33 51.6 0.425 0.300 0.300 0.300 2577 YTLLAND 0.300 UNCH 604 0.300 — — 253.3
1.060 0.700 — — 8192 MERCURY 0.725 — — — 7.49 — 29.1 TRANSPORTATION & LOGISTICS
1.810 0.270 0.930 0.930 5006 MERGE 0.930 UNCH 2 0.930 — — 62.3 9.294 6.520 8.560 8.410 5014 AIRPORT 8.500 -0.070 3093.2 8.505 31.43 1.65 14,103
0.905 0.640 0.660 0.660 7595 MGB 0.660 0.005 11.8 0.660 17.14 — 328.3 1.400 1.120 1.280 1.220 8133 BHIC 1.280 -0.030 25.3 1.244 — 2.73 318.0
0.432 0.216 0.285 0.280 9571 MITRA 0.285 0.005 255 0.280 — 5.26 255.4 5.252 3.780 3.780 3.780 5032 BIPORT 3.780 UNCH 35 3.780 10.70 4.23 1,738.8
0.250 0.115 0.175 0.175 5924 MTDACPI 0.175 UNCH 24.1 0.175 — — 40.5 0.450 0.275 — — 7187 CHGP 0.280 — — — 40.58 — 83.2
0.470 0.235 0.245 0.235 5085 MUDAJYA 0.235 -0.005 372.7 0.240 — — 142.3 0.665 0.360 0.400 0.395 7117 CJCEN 0.400 0.005 5.5 0.397 — 1.88 157.7
3.108 2.400 2.410 2.400 5703 MUHIBAH 2.400 -0.010 79.8 2.405 8.29 3.13 1,164.4 0.930 0.449 0.720 0.720 5136 COMPLET 0.720 0.015 5 0.720 9.33 — 91.4
0.379 0.220 0.245 0.235 7071 OCR 0.240 -0.005 1162.1 0.240 — — 78.7 0.605 0.310 0.395 0.395 5259 EATECH 0.395 -0.005 309.4 0.395 3.01 — 199.1
0.900 0.730 — — 5622 PEB 0.815 — — — — — 56.3 0.718 0.497 — — 7210 FREIGHT 0.600 — — — 12.32 5.83 167.5
0.307 0.163 0.215 0.210 8311 PESONA 0.215 UNCH 178 0.214 17.62 4.65 149.4 0.445 0.255 0.310 0.295 0078 GDEX 0.300 0.005 6962.4 0.301 50.85 0.67 1,692.4
0.390 0.183 0.250 0.245 5070 PRTASCO 0.245 UNCH 183.2 0.248 — 2.45 121.4 0.420 0.265 — — 7676 GUNUNG 0.275 — — — — — 64.9
0.170 0.095 0.145 0.140 7145 PSIPTEK 0.140 -0.010 724 0.145 43.75 — 59.8 0.760 0.560 — — 2062 HARBOUR 0.635 — — — 11.01 1.57 254.3
3.390 1.986 3.390 3.340 9598 PTARAS 3.380 0.080 36.4 3.363 21.53 5.92 560.6 0.065 0.030 0.050 0.045 7013 HUBLINE 0.050 UNCH 547.8 0.047 38.46 — 191.0
0.545 0.270 0.280 0.270 6807 PUNCAK 0.280 0.010 125.2 0.279 — 1.79 125.8 0.580 0.270 0.295 0.270 5614 ILB 0.295 0.025 156.6 0.284 — — 57.5
0.810 0.390 0.445 0.425 5205 SENDAI 0.425 -0.010 1705.6 0.436 6.03 — 332.0 5.000 3.595 4.610 4.560 6645 LITRAK 4.560 -0.070 29.2 4.571 9.68 5.48 2,420.6
2.200 1.272 2.020 1.990 5263 SUNCON 2.000 0.010 561 2.001 18.83 3.50 2,585.8 0.115 0.055 0.075 0.075 5078 M&G 0.075 UNCH 7 0.075 — — 54.3
0.285 0.210 — — 9717 SYCAL 0.230 — — — 67.65 — 95.8 0.715 0.410 0.710 0.640 5077 MAYBULK 0.700 0.060 6853.6 0.687 1.70 — 700.0
0.741 0.417 0.485 0.480 5054 TRC 0.485 UNCH 270 0.485 0.75 3.92 233.0 8.040 5.244 7.900 7.760 3816 MISC 7.790 -0.010 4283.4 7.798 21.88 3.85 34,772.9
0.595 0.295 0.400 0.400 5042 TSRCAP 0.400 0.040 10 0.400 — — 69.8 1.425 0.780 1.070 1.050 2194 MMCCORP 1.060 -0.010 2370.3 1.059 11.48 3.77 3,227.8
0.890 0.180 — — 0301 UNIWALL 0.890 — — — 55.63 0.02 325.5 0.380 0.180 — — 9806 NATWIDE 0.180 — — — — — 22.2
1.170 0.800 0.875 0.865 7070 VIZIONE 0.875 UNCH 537.9 0.871 7.40 — 492.0 0.050 0.025 0.030 0.030 6254 PDZ 0.030 UNCH 77.5 0.030 — — 20.5
0.730 0.465 0.520 0.515 3565 WCEHB 0.520 UNCH 126 0.518 25.62 — 521.4 3.650 1.220 1.570 1.550 4634 POS 1.560 -0.010 266.1 1.560 — 2.56 1,221.1
1.220 0.647 0.955 0.920 9679 WCT 0.955 0.035 980.8 0.935 15.11 3.08 1,354.3 0.610 0.295 — — 8346 PRKCORP 0.390 — — — — — 39.0
0.410 0.150 0.345 0.330 7028 ZECON 0.335 0.005 3518.8 0.336 1.79 — 48.3 0.365 0.090 0.360 0.345 5145 SEALINK 0.355 UNCH 5713.2 0.353 — — 177.5
0.125 0.025 0.085 0.080 2283 ZELAN 0.085 0.005 1169.1 0.080 — — 71.8 1.067 0.800 — — 7053 SEEHUP 0.800 — — — — 3.94 64.3
HEALTH CARE 1.500 1.176 1.320 1.280 6521 SURIA 1.310 0.010 71.5 1.303 9.19 4.14 453.0
0.605 0.350 0.495 0.495 7191 ADVENTA 0.495 -0.010 2 0.495 — — 75.6 0.345 0.240 0.260 0.255 5173 SYSCORP 0.260 -0.020 3.9 0.260 — — 312.0
2.404 1.950 2.000 2.000 7090 AHEALTH 2.000 0.020 347.7 2.000 16.67 1.73 943.3 0.360 0.180 — — 5149 TAS 0.250 — — — 11.01 — 45.0
1.480 0.898 1.410 1.370 7148 DPHARMA 1.390 0.010 964.5 1.386 16.77 3.96 945.3 1.692 0.968 — — 5140 TASCO 1.120 — — — 24.14 4.46 224.0
6.919 4.503 5.380 5.260 5168 HARTA 5.330 0.020 4614.6 5.322 41.84 1.54 17,908.8 1.040 0.420 0.515 0.505 8397 TNLOGIS 0.510 -0.005 134.8 0.511 — — 235.0
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Markets 2 7
BURSA MAL AYSIA MAIN MARKET . ACE MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.150 0.430 — — 7218 TOCEAN 0.505 — — — — — 20.7 0.970 0.495 0.850 0.820 5186 MHB 0.845 0.020 291.8 0.835 — — 1,352.0
4.270 3.172 4.150 4.060 5246 WPRTS 4.080 UNCH 1192.7 4.083 23.42 3.20 13,912.8 1.260 0.340 0.950 0.930 5133 PENERGY 0.935 -0.010 799.3 0.937 30.56 2.14 300.8
0.930 0.245 0.490 0.450 5267 XINHWA 0.480 0.015 3638.7 0.477 35.82 — 103.7 0.540 0.175 0.330 0.315 7108 PERDANA 0.320 UNCH 4379.5 0.323 — — 249.1
PLANTATION 0.045 0.005 — — 0047 PERISAI 0.005 — — — — — 6.3
0.210 0.125 0.125 0.125 7054 AASIA 0.125 UNCH 11.7 0.125 — — 82.5 8.395 5.190 5.460 5.400 3042 PETRONM 5.400 -0.010 8.2 5.444 8.39 3.70 1,458.0
17.332 15.400 15.700 15.500 1899 BKAWAN 15.700 0.300 183.5 15.69 18.51 3.50 6,844.4 0.520 0.165 0.195 0.185 5256 REACH 0.190 0.005 2326.1 0.190 — — 208.3
7.540 5.700 — — 5069 BLDPLNT 5.850 — — — — 0.51 547.0 0.482 0.251 0.285 0.275 5218 SAPNRG 0.280 UNCH 34383 0.281 — — 4,474.1
1.147 0.646 0.675 0.675 5254 BPLANT 0.675 -0.005 128.8 0.675 53.57 8.15 1,512.0 0.145 0.040 0.080 0.075 7158 SCOMI 0.075 UNCH 3084.5 0.075 — — 82.0
0.736 0.505 0.515 0.505 8982 CEPAT 0.505 -0.010 86 0.508 — 2.97 160.8 0.140 0.030 0.070 0.065 7045 SCOMIES 0.070 UNCH 1289.4 0.066 — — 163.9
7.297 6.030 6.030 6.030 1929 CHINTEK 6.030 -0.170 1.5 6.030 14.78 2.65 550.9 4.560 3.477 4.360 4.320 5279 SERBADK 4.350 -0.010 1916.3 4.347 14.56 2.06 6,388.0
0.499 0.394 0.425 0.425 3948 DUTALND 0.425 UNCH 16.2 0.425 33.20 — 359.6 0.045 0.005 0.030 0.020 1201 SUMATEC 0.025 UNCH 7842.8 0.025 — — 106.3
2.986 2.501 2.680 2.680 5029 FAREAST 2.680 UNCH 9 2.680 — 1.12 1,591.5 0.579 0.297 0.460 0.450 7228 T7GLOBAL 0.455 UNCH 363.5 0.457 50.00 1.10 228.2
1.560 0.630 0.955 0.935 5222 FGV 0.940 UNCH 4043.4 0.943 — — 3,429.3 0.075 0.025 0.070 0.060 7206 THHEAVY 0.065 -0.005 3866.9 0.065 4.96 — 72.9
10.674 8.971 10.000 9.850 2291 GENP 9.940 -0.050 146.6 9.917 80.10 1.18 8,919.7 1.510 0.550 0.810 0.775 7250 UZMA 0.795 -0.005 11482 0.789 8.57 — 254.4
0.460 0.335 0.390 0.390 7382 GLBHD 0.390 -0.050 1 0.390 — 2.56 86.9 0.340 0.165 0.315 0.305 5243 VELESTO 0.310 0.005 18578 0.309 — — 2,546.8
0.858 0.530 0.700 0.700 2135 GOPENG 0.700 UNCH 0.1 0.700 46.67 3.57 188.3 1.150 0.595 0.615 0.600 5142 WASEONG 0.605 0.010 799.3 0.606 8.64 — 468.8
0.800 0.340 — — 7501 HARNLEN 0.625 — — — — — 115.9 7.208 4.018 6.750 6.700 7293 YINSON 6.720 -0.030 820.8 6.728 32.83 0.89 7,350.6
2.268 1.400 1.450 1.450 5138 HSPLANT 1.450 UNCH 5.3 1.450 117.89 1.03 1,160.0
2.576 1.283 1.500 1.500 2216 IJMPLNT 1.500 UNCH 30 1.500 — 1.33 1,320.9
0.694 0.550 0.600 0.595 2607 INCKEN 0.595 -0.005 5.5 0.600 — 1.80 250.3
0.798 0.580 — — 6262 INNO 0.685 — — — 69.19 1.46 328.0
4.698 4.064 4.410 4.300 1961 IOICORP 4.400 -0.010 2377 4.396 43.78 1.82 27,652.4
0.688 0.430 0.450 0.445 4383 JTIASA 0.450 UNCH 57 0.447 — 1.11 438.2
25.611 23.000 23.900 23.480
3.950 3.100 3.550
1.285 1.080 1.150
3.490
1.130
2445
2453
5027
KLK
KLUANG
KMLOONG
23.780
3.490
1.130
0.120
-0.090
0.010
414.9
10.7
2
23.75 46.51
3.538 —
1.147 22.69
1.89
0.28
5.31
25,385.3
220.5
1,057.0
Ace Market
YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
0.460 0.365 0.380 0.375 1996 KRETAM 0.375 -0.015 72.5 0.379 — — 872.9
1.150 0.680 0.755 0.730 6572 KWANTAS 0.755 -0.005 20 0.740 — — 235.3 HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
0.950 0.690 — — 4936 MALPAC 0.705 — — — — 14.18 52.9 CONSUMER PRODUCTS & SERVICES
0.731 0.546 0.570 0.555 5026 MHC 0.555 -0.010 65.4 0.557 693.75 2.70 109.1 0.740 0.325 0.565 0.545 0098 BAHVEST 0.560 0.010 2741.1 0.555 64.37 — 686.0
2.000 1.680 — — 5047 NPC 1.900 — — — — — 228.0 0.270 0.190 0.205 0.200 0179 BIOHLDG 0.205 0.005 309.1 0.202 17.08 0.54 176.3
3.583 3.082 — — 2038 NSOP 3.320 — — — — 1.81 233.1 0.350 0.150 0.160 0.160 0205 DPIH 0.160 Unch 80.8 0.160 7.37 — 77.9
0.690 0.140 0.310 0.280 1902 PINEPAC 0.280 -0.005 15.5 0.282 — — 41.9 0.395 0.095 0.360 0.345 0116 FOCUS 0.350 -0.005 7050.9 0.355 — — 715.2
1.310 0.750 0.780 0.770 9695 PLS 0.780 -0.025 48 0.775 — — 273.5 0.477 0.113 0.430 0.415 0157 FOCUSP 0.420 -0.010 460.9 0.422 10.02 4.48 92.4
0.290 0.135 0.145 0.140 5113 RSAWIT 0.145 0.010 440.3 0.142 — — 205.7 0.125 0.075 0.085 0.085 0074 GOCEAN 0.085 Unch 1590.8 0.085 12.69 — 24.6
3.701 2.732 — — 2542 RVIEW 2.830 — — — 658.14 1.41 183.5 0.090 0.035 0.070 0.065 0170 KANGER 0.065 -0.005 752.1 0.065 9.42 — 58.1
3.178 2.740 — — 2569 SBAGAN 3.000 — — — — 0.67 199.0 0.428 0.241 0.315 0.300 0210 KHJB 0.305 0.010 820.4 0.307 11.69 — 115.9
0.460 0.240 — — 4316 SHCHAN 0.255 — — — — — 33.6 0.205 0.130 0.145 0.145 0180 KTC 0.145 Unch 197.6 0.145 6.22 — 74.0
5.299 3.934 4.940 4.850 5285 SIMEPLT 4.930 0.040 3705 4.902 97.05 2.09 33,941 0.165 0.090 0.095 0.095 0182 LKL 0.095 Unch 8 0.095 — — 40.7
2.791 1.919 2.070 2.050 5126 SOP 2.060 UNCH 164.1 2.060 32.75 2.43 1,176.0 0.250 0.100 0.140 0.135 0140 MACPIE 0.140 -0.005 106 0.138 — — 49.5
1.844 1.310 — — 5135 SWKPLNT 1.450 — — — 23.02 3.45 406.0 0.575 0.277 0.575 0.540 0201 NOVA 0.550 0.005 2047 0.555 14.91 0.91 174.8
2.720 1.882 2.240 2.150 5012 TAANN 2.200 -0.030 72.5 2.185 13.71 4.55 978.7 0.155 0.100 — — 0153 OVERSEA 0.110 — — — — — 27.1
0.260 0.145 0.180 0.175 2054 TDM 0.175 UNCH 222.8 0.176 — — 294.5 0.125 0.060 0.070 0.070 0022 PARLO 0.070 Unch 33 0.070 — — 25.5
0.715 0.360 0.360 0.360 5112 THPLANT 0.360 -0.005 78.5 0.360 — — 318.2 0.400 0.185 0.185 0.185 0171 PLABS 0.185 Unch 84.6 0.185 10.45 3.24 39.7
1.177 0.865 0.875 0.875 9059 TSH 0.875 0.005 130.1 0.875 31.70 1.14 1,209.1 0.539 0.434 — — 0158 SCC 0.520 — — — 11.85 6.54 73.4
6.105 5.000 5.140 5.100 2593 UMCCA 5.140 UNCH 18.5 5.109 — 1.56 1,077.8 0.225 0.075 0.080 0.080 0148 SUNZEN 0.080 Unch 387 0.080 — — 42.8
27.000 24.006 25.500 25.500 2089 UTDPLT 25.500 0.040 64.3 25.50 16.18 1.57 5,307.4 0.387 0.255 0.260 0.255 0197 WEGMANS 0.255 -0.010 335 0.260 8.10 1.96 127.5
TELECOMMUNICATIONS & MEDIA 0.235 0.120 0.230 0.225 0095 XINGHE 0.230 Unch 3921.8 0.230 — — 98.2
0.180 0.100 — — 0159 AMEDIA 0.135 — — — — — 32.3 INDUSTRIAL PRODUCTS & SERVICES
0.700 0.605 — — 7031 AMTEL 0.615 — — — 9.40 — 33.3 0.300 0.210 — — 0122 AIM 0.270 — — — — — 71.8
1.698 0.999 1.370 1.320 6399 ASTRO 1.350 0.020 3114.8 1.349 15.22 6.30 7,039.3 0.095 0.055 — — 0105 ASIAPLY 0.060 — — — — 8.33 27.3
5.280 3.161 4.220 4.130 6888 AXIATA 4.200 0.090 10577 4.194 — 2.26 38,340 0.065 0.040 0.045 0.045 0072 AT 0.045 Unch 33.3 0.045 — — 20.9
0.375 0.100 0.135 0.130 6025 BJMEDIA 0.130 -0.005 12 0.133 — — 30.6 0.250 0.140 0.145 0.140 0187 BCMALL 0.145 0.005 264.5 0.145 10.00 1.38 61.1
5.050 3.852 4.640 4.560 6947 DIGI 4.610 0.010 9678.8 4.609 23.82 4.14 35,842.8 0.245 0.130 0.140 0.130 0163 CAREPLS 0.135 0.005 822.8 0.135 — — 71.7
0.355 0.180 0.190 0.190 0059 ECOHLDS 0.190 0.005 21 0.190 12.26 — 40.2 0.155 0.075 0.085 0.085 0102 CONNECT 0.085 Unch 105 0.085 — — 28.0
0.670 0.300 0.670 0.650 0082 GPACKET 0.655 -0.010 14678 0.660 — — 596.8 0.300 0.170 0.205 0.180 0190 ESAFE 0.180 -0.020 4.2 0.190 32.73 10.00 43.3
5.756 4.964 5.630 5.550 6012 MAXIS 5.600 -0.030 2608 5.597 27.59 3.57 43,794.7 0.204 0.105 0.170 0.155 0100 ESCERAM 0.165 0.010 45.2 0.157 44.59 3.64 33.9
0.600 0.325 0.480 0.475 4502 MEDIA 0.480 UNCH 4891.4 0.480 — — 532.4 0.548 0.326 0.340 0.335 0039 GFM 0.335 Unch 418.1 0.336 12.32 3.28 157.8
0.271 0.165 0.170 0.165 5090 MEDIAC 0.170 UNCH 1614.8 0.170 0.75 6.88 286.8 0.235 0.105 0.160 0.150 0175 HHGROUP 0.160 0.010 317.8 0.155 — — 54.3
0.660 0.400 0.660 0.610 0172 OCK 0.650 0.040 28661 0.641 20.83 — 566.5 0.155 0.080 0.105 0.105 0160 HHHCORP 0.105 -0.005 433.6 0.105 10.10 — 35.0
0.434 0.326 — — 7190 PPG 0.340 — — — 52.31 1.47 34.0 0.260 0.115 0.215 0.210 0188 HLT 0.215 0.005 5 0.212 — — 110.1
0.310 0.165 0.170 0.165 5252 SASBADI 0.170 UNCH 415.7 0.170 89.47 — 71.2 0.085 0.035 0.040 0.035 0024 JAG 0.035 Unch 2294.8 0.040 — — 53.1
0.700 0.470 — — 9431 SJC 0.530 — — — — — 21.5 0.335 0.178 0.325 0.305 0193 KAB 0.320 0.005 3736.3 0.312 14.35 3.13 113.3
0.895 0.545 0.555 0.550 6084 STAR 0.555 0.005 110.5 0.551 — 5.41 409.9 0.170 0.080 — — 0167 MCLEAN 0.125 — — — — — 22.3
9.350 7.329 9.120 8.900 5031 TIMECOM 9.100 -0.050 296.2 9.101 16.78 1.02 5,328.4 0.240 0.090 0.110 0.105 0081 MEGASUN 0.110 Unch 42.8 0.110 36.67 — 27.6
4.680 2.097 3.510 3.370 4863 TM 3.490 0.100 7958.6 3.461 41.75 0.57 13,140.9 0.210 0.105 0.115 0.110 0207 MESTRON 0.110 Unch 256.5 0.111 — — 86.9
0.310 0.045 — — 5754 UTUSAN 0.055 — — — — — 6.1 0.115 0.040 0.045 0.040 0177 PASUKGB 0.045 Unch 11.9 0.044 — — 36.6
TECHNOLOGY 0.210 0.105 0.110 0.105 0038 PTB 0.110 -0.005 8 0.108 — — 20.5
0.700 0.605 — — 7031 AMTEL 0.615 — — — 9.40 — 33.3 0.380 0.165 0.175 0.170 0196 QES 0.175 Unch 2065.8 0.170 17.16 — 132.7
0.190 0.115 0.125 0.120 5195 CENSOF 0.125 0.005 40.1 0.120 416.67 — 62.7 0.180 0.040 0.045 0.045 0133 SANICHI 0.045 Unch 90 0.045 — — 49.9
0.330 0.160 0.185 0.180 0051 CUSCAPI 0.180 0.005 1245.1 0.180 — — 154.7 0.180 0.090 0.100 0.095 0161 SCH 0.100 Unch 393.2 0.100 — — 55.6
0.985 0.490 0.545 0.535 7204 D&O 0.545 0.005 363.4 0.540 19.12 1.83 605.0 0.982 0.429 0.865 0.785 0001 SCOMNET 0.860 0.075 4606.7 0.828 33.08 1.16 553.0
0.285 0.160 0.170 0.165 8338 DATAPRP 0.170 UNCH 121 0.168 — — 74.4 0.290 0.115 0.155 0.155 0028 SCOPE 0.155 Unch 10 0.155 — 3.23 96.0
0.080 0.040 0.050 0.050 0029 DIGISTA 0.050 UNCH 100 0.050 — — 32.9 0.120 0.080 0.085 0.085 0055 SERSOL 0.085 Unch 10 0.085 — — 18.3
0.447 0.192 0.265 0.260 4456 DNEX 0.260 -0.005 859.2 0.263 14.61 1.92 457.1 0.580 0.260 0.270 0.260 0211 TASHIN 0.270 0.010 948.7 0.264 7.14 — 94.2
0.950 0.280 0.915 0.885 5216 DSONIC 0.915 0.030 10596 0.902 28.59 2.73 1,235.3 0.496 0.241 0.295 0.290 0084 TECFAST 0.290 Unch 38 0.290 20.42 3.45 66.2
0.775 0.380 0.455 0.420 5036 EDARAN 0.445 0.030 404.2 0.440 — — 26.7 0.663 0.370 — — 0089 TEXCYCL 0.385 — — — 15.04 1.56 98.6
0.813 0.367 0.655 0.630 0065 EFORCE 0.635 UNCH 8892 0.642 38.25 1.97 390.8 0.390 0.215 0.235 0.225 0162 WIDAD 0.225 -0.005 273 0.230 22.73 — 552.3
1.430 0.756 0.860 0.840 0090 ELSOFT 0.855 0.015 505.7 0.852 18.43 5.26 571.2 0.180 0.115 0.125 0.125 0025 YBS 0.125 0.005 95.4 0.125 11.16 — 30.2
1.709 0.566 1.680 1.640 0128 FRONTKN 1.680 0.040 8143.3 1.661 26.75 1.07 1,769.8 TECHNOLOGY
0.240 0.080 — — 9377 FSBM 0.095 — — — — — 13.4 0.380 0.175 0.265 0.250 0181 AEMULUS 0.255 0.005 1511.9 0.256 170.0 0.78 140.1
1.860 1.240 1.450 1.390 0021 GHLSYS 1.420 0.040 221 1.419 38.90 — 1,063.9 0.195 0.075 0.090 0.085 0119 APPASIA 0.085 Unch 372.1 0.085 — — 29.3
0.670 0.300 0.670 0.650 0082 GPACKET 0.655 -0.010 14678 0.660 — — 596.8 0.300 0.140 0.140 0.140 0068 ASDION 0.140 -0.010 186.6 0.140 — — 17.9
0.465 0.200 0.220 0.205 0195 BINACOM 0.215 0.010 1056.4 0.214 10.44 4.65 55.9
0.300 0.176 0.255 0.250 0056 GRANFLO 0.255 UNCH 149.4 0.255 12.44 1.96 123.2 0.347 0.180 — — 0191 CABNET 0.195 — — — 7.56 4.10 34.9
2.537 1.350 1.780 1.760 7022 GTRONIC 1.780 0.010 220.6 1.772 20.92 1.54 1,191.6 0.180 0.090 0.095 0.095 0152 DGB 0.095 Unch 0.1 0.095 — — 71.8
1.440 0.340 1.250 1.180 5028 HTPADU 1.220 0.050 6864.4 1.222 — — 123.5 0.105 0.065 0.095 0.090 0131 DGSB 0.095 0.005 304.2 0.092 67.86 — 70.8
2.345 1.197 1.740 1.700 0166 INARI 1.730 UNCH 9998.8 1.720 28.69 3.01 5,499.8 0.025 0.005 0.015 0.010 0154 EAH 0.015 0.005 902.2 0.012 — — 76.1
0.353 0.242 0.270 0.260 0192 INTA 0.270 0.010 332.7 0.265 0.19 2.78 144.5 0.075 0.015 0.060 0.055 0107 EDUSPEC 0.055 Unch 42088 0.060 — — 60.6
0.145 0.070 — — 9393 ITRONIC 0.095 — — — — — 12.7 2.015 1.040 1.060 1.060 0104 GENETEC 1.060 -0.010 40.3 1.060 35.57 4.72 44.8
0.290 0.155 0.170 0.165 5161 JCY 0.165 UNCH 105 0.165 — 3.03 342.7 0.100 0.045 0.065 0.060 0045 GNB 0.065 Unch 64.9 0.060 — — 18.8
17.016 6.660 6.720 6.700 9334 KESM 6.700 UNCH 17.6 6.705 18.87 0.45 288.2 1.470 0.635 1.460 1.380 0208 GREATEC 1.410 -0.040 5793.4 1.414 18.46 — 882.7
0.220 0.080 0.085 0.080 0143 KEYASIC 0.085 UNCH 266.1 0.081 — — 80.8 0.050 0.015 — — 0174 IDMENSN 0.020 — — — — — 5.4
0.405 0.310 — — 0302 MCOM 0.405 — — — 36.82 — 76.4 0.506 0.180 0.315 0.310 0023 IFCAMSC 0.310 Unch 969.7 0.313 17.03 3.23 188.6
3.321 1.442 1.960 1.930 5286 MI 1.940 0.010 481.1 1.938 21.37 3.09 970.0 0.120 0.045 0.055 0.050 0094 INIX 0.055 Unch 1979.5 0.055 — — 14.9
1.262 0.585 0.600 0.590 0113 MMSV 0.600 0.005 230.3 0.592 17.96 3.33 122.3 0.195 0.125 0.155 0.150 0010 IRIS 0.150 Unch 6720.8 0.151 13.64 — 444.9
12.837 8.330 8.860 8.680 3867 MPI 8.750 -0.110 28.2 8.787 12.96 3.09 1,836.5 0.275 0.150 0.170 0.165 0209 ISTONE 0.165 -0.005 2629.8 0.167 13.41 — 201.5
1.930 0.950 — — 5011 MSNIAGA 1.170 — — — — — 70.7 1.020 0.640 0.775 0.760 0146 JFTECH 0.775 0.010 25.5 0.769 48.74 — 162.7
1.794 0.779 1.440 1.400 0138 MYEG 1.430 0.010 13079 1.422 59.58 1.33 5,157.0 1.450 0.805 1.160 1.140 0127 JHM 1.150 -0.010 61.2 1.157 17.35 1.74 641.2
0.257 0.177 0.205 0.200 0041 MYSCM 0.200 UNCH 1445.1 0.200 — — 63.7 0.292 0.190 0.205 0.200 0111 K1 0.200 -0.005 587.2 0.200 17.70 — 145.8
0.743 0.460 0.520 0.510 0083 NOTION 0.515 0.005 44.1 0.515 4.86 1.94 171.6 0.080 0.030 0.035 0.035 0036 KGROUP 0.035 Unch 190 0.035 — — 18.2
0.450 0.320 — — 9008 OMESTI 0.420 — — — — — 201.0 0.737 0.496 0.610 0.595 0176 KRONO 0.605 0.010 6003.9 0.603 12.45 3.31 296.0
3.770 1.532 3.730 3.660 7160 PENTA 3.680 UNCH 581.6 3.688 23.29 — 1,747.6 0.160 0.050 0.055 0.055 0018 LAMBO 0.055 Unch 2833.8 0.055 7.14 — 115.6
1.080 0.255 0.430 0.415 5204 PRESBHD 0.425 0.010 1625.9 0.424 — 4.00 205.7 0.545 0.275 0.330 0.310 0075 LYC 0.320 0.005 1349.6 0.323 — — 104.0
0.535 0.240 0.440 0.440 9075 THETA 0.440 -0.005 70 0.440 — — 47.2 0.070 0.035 — — 0017 M3TECH 0.045 — — — — — 26.4
0.025 0.010 0.015 0.010 0118 TRIVE 0.015 0.005 601.1 0.012 — — 35.2 0.425 0.205 — — 0155 MGRC 0.265 — — — — — 27.4
0.200 0.105 0.110 0.110 4359 TURIYA 0.110 UNCH 1 0.110 — — 25.2 0.700 0.305 — — 0126 MICROLN 0.600 — — — 115.3 — 100.4
3.233 1.920 2.080 2.030 5005 UNISEM 2.050 0.020 22.8 2.054 18.84 4.02 1,504.4 0.324 0.175 0.190 0.185 0112 MIKROMB 0.190 0.010 71.4 0.185 20.88 4.21 112.0
1.630 1.100 1.630 1.590 5292 UWC 1.590 -0.020 3537.3 1.609 16.09 — 583.2 0.065 0.035 0.045 0.040 0085 MLAB 0.045 0.005 514.2 0.040 — — 30.2
8.444 5.667 7.050 7.000 0097 VITROX 7.020 UNCH 21.4 7.019 31.31 0.82 3,306.1 0.285 0.200 0.280 0.260 0034 MMAG 0.275 0.020 2262.4 0.271 — — 195.5
1.090 0.884 1.030 1.020 5162 VSTECS 1.030 0.010 6 1.025 6.96 4.85 185.4 0.100 0.035 0.100 0.090 0103 MNC 0.090 -0.010 47040 0.095 — — 43.1
0.601 0.325 0.415 0.325 0008 WILLOW 0.405 UNCH 128.1 0.380 13.97 2.47 200.9 0.165 0.095 0.105 0.100 0156 MPAY 0.100 Unch 157 0.102 — — 71.0
UTILITIES 0.050 0.020 0.025 0.020 0070 MQTECH 0.025 Unch 30 0.023 — — 16.1
0.270 0.090 0.145 0.135 7471 EDEN 0.140 0.005 2816.1 0.140 — — 56.5 0.110 0.050 0.110 0.095 0092 MTOUCHE 0.105 Unch 2701.1 0.102 — — 53.4
2.960 2.587 — — 5209 GASMSIA 2.850 — — — 20.07 4.84 3,659.4 1.202 0.691 0.730 0.720 0108 N2N 0.720 Unch 93 0.722 29.03 2.78 430.5
0.951 0.715 0.880 0.875 5264 MALAKOF 0.875 -0.005 291.7 0.877 1.79 6.79 4,375.0 0.025 0.005 0.015 0.010 0020 NETX 0.010 -0.005 25784 0.010 — — 32.7
4.007 2.973 3.880 3.850 3069 MFCB 3.860 -0.020 476.9 3.862 12.35 1.04 1,636.7 0.025 0.010 0.015 0.010 0096 NEXGRAM 0.015 Unch 945.6 0.013 — — 31.1
1.253 1.002 1.120 1.120 5041 PBA 1.120 UNCH 6 1.120 — 3.13 371.0 0.185 0.080 0.085 0.080 0026 NOVAMSC 0.085 Unch 1402.8 0.085 — — 63.9
19.577 14.740 16.400 16.160 6033 PETGAS 16.320 0.060 809.1 16.25 17.59 4.41 32,292.9 0.910 0.435 0.660 0.625 0035 OPCOM 0.640 0.015 12901 0.644 — 5.08 103.2
1.440 0.580 1.300 1.280 5272 RANHILL 1.290 UNCH 264.4 1.289 28.17 3.36 1,375.1 0.369 0.271 0.355 0.335 0040 OPENSYS 0.345 0.015 1811.3 0.343 10.36 3.62 102.8
0.298 0.211 0.230 0.225 8567 SALCON 0.230 UNCH 336.3 0.228 54.76 3.35 194.8 0.230 0.045 0.095 0.090 0079 ORION 0.090 -0.005 759 0.090 — — 63.6
1.013 0.845 0.925 0.915 8524 TALIWRK 0.920 -0.005 1512.3 0.919 20.67 5.22 1,854.6 0.730 0.240 0.320 0.320 0006 PINEAPP 0.320 Unch 3.5 0.320 — — 15.5
15.385 11.240 14.060 13.880 5347 TENAGA 13.940 -0.060 3166.5 13.93 26.07 3.80 79,275.2 0.100 0.045 0.055 0.050 0123 PRIVA 0.055 -0.005 550.9 0.051 — — 30.7
1.250 0.965 0.980 0.965 4677 YTL 0.980 0.005 3156.1 0.974 40.33 4.08 10,769.5 1.730 0.867 1.510 1.490 0200 REVENUE 1.500 0.010 303.2 1.502 36.95 — 349.5
1.056 0.685 0.750 0.730 6742 YTLPOWR 0.740 0.010 7662.2 0.738 12.35 6.76 6,037.1 0.750 0.525 0.600 0.600 0106 REXIT 0.600 -0.040 2 0.600 13.67 5.00 113.6
CLOSED-END FUNDS 0.345 0.200 0.245 0.240 0202 RGTECH 0.240 Unch 948.8 0.242 42.11 — 126.0
2.800 2.300 2.350 2.350 5108 ICAP 2.350 0.010 0.1 2.350 81.88 — 329.0 0.310 0.090 0.135 0.120 0178 SEDANIA 0.130 0.010 1836.6 0.125 — — 32.3
EXCHANGE TRADED FUNDS 0.610 0.370 — — 0203 SMETRIC 0.485 — — — 146.9 — 118.1
1.222 1.100 — — 0800EA ABFMY1 1.222 — — — — 1.91 1,580.0 0.155 0.090 0.100 0.095 0117 SMRT 0.100 0.005 276 0.096 — — 40.7
6.140 5.220 5.680 5.650 0829EA CHINAETF-MYR 5.680 0.020 22.7 5.654 — — 9.3 0.250 0.055 0.245 0.235 0169 SMTRACK 0.245 Unch 7921.8 0.240 — — 38.3
1.345 1.345 — — 0829EB CHINAETF-USD 1.345 — — — — — 0.9 0.150 0.080 0.090 0.085 0093 SOLUTN 0.085 0.005 677.1 0.085 — — 26.0
1.950 1.780 1.830 1.830 0822EA CIMBA40 1.830 0.010 0.9 1.830 — 3.74 4.9 0.340 0.195 0.210 0.205 0129 SRIDGE 0.210 Unch 55 0.208 15.11 — 29.5
1.690 1.450 — — 0823EA CIMBC50 1.560 — — — — — 11.2 0.325 0.155 0.160 0.160 0050 SYSTECH 0.160 Unch 69 0.160 — 1.25 55.6
1.910 1.675 1.675 1.675 0820EA FBMKLCI-EA 1.675 UNCH 1.5 1.675 — 1.97 2.8 0.125 0.050 0.060 0.055 0132 TDEX 0.060 Unch 2.2 0.057 — — 35.4
1.070 0.940 — — 0826EA METFAPA 0.945 — — — — — 17.0 0.160 0.085 0.090 0.090 0145 TFP 0.090 Unch 80 0.090 — — 18.7
1.000 0.790 — — 0825EA METFSID 0.835 — — — — 2.38 73.5 0.340 0.125 0.145 0.140 0005 UCREST 0.145 0.005 1596.5 0.140 9.80 — 67.3
1.180 0.900 1.160 1.160 0827EA METFUS50 1.160 0.045 0.2 1.160 — — 15.1 0.330 0.108 0.165 0.155 0060 VC 0.160 Unch 536.6 0.162 — — 62.4
1.200 1.020 1.065 1.065 0821EA MYETFDJ 1.065 -0.030 1 1.065 — 2.29 291.7 0.775 0.305 0.375 0.360 0120 VIS 0.365 0.005 101.1 0.360 10.17 2.74 61.7
0.030 0.015 0.020 0.015 0069 VIVOCOM 0.020 Unch 720.9 0.015 — — 113.3
1.200 1.040 — — 0824EA MYETFID 1.110 — — — — 2.49 44.0 0.255 0.085 0.120 0.110 0066 VSOLAR 0.110 -0.005 46604 0.115 — — 42.5
REAL ESTATE INVESTMENT TRUSTS 0.045 0.035 — — 0141 WINTONI 0.035 — — — — — 18.0
0.820 0.654 0.770 0.770 4952 AHP 0.770 UNCH 25 0.770 11.67 7.57 169.4 0.145 0.100 0.110 0.110 0086 YGL 0.110 Unch 40 0.110 — — 25.6
1.550 1.150 1.520 1.510 5116 ALAQAR 1.510 -0.010 24.3 1.515 12.22 5.86 1,111.3 TELECOMMUNICATIONS & MEDIA
0.935 0.731 — — 5269 ALSREIT 0.895 — — — 12.36 6.02 519.1 0.465 0.200 0.220 0.205 0195 BINACOM 0.215 0.010 1056.4 0.214 10.44 4.65 55.9
0.552 0.486 0.510 0.505 5120 AMFIRST 0.510 0.005 131.2 0.510 16.50 7.73 350.1 0.720 0.420 — — 0147 INNITY 0.460 — — — 30.07 — 64.0
0.850 0.810 0.830 0.820 5127 ARREIT 0.825 0.005 109.1 0.823 35.71 6.99 472.9 0.070 0.035 — — 0017 M3TECH 0.045 — — — — — 26.4
1.215 1.040 1.050 1.050 5130 ATRIUM 1.050 UNCH 316 1.050 12.08 6.98 214.9 0.100 0.035 0.100 0.090 0103 MNC 0.090 -0.010 47040 0.095 — — 43.1
1.990 1.349 1.880 1.840 5106 AXREIT 1.850 -0.020 1195 1.850 14.99 5.14 2,289.0 0.110 0.050 0.110 0.095 0092 MTOUCHE 0.105 Unch 2701.1 0.102 — — 53.4
1.097 0.919 1.050 1.030 5180 CMMT 1.030 -0.010 81.2 1.037 23.73 6.53 2,113.3 0.025 0.010 0.015 0.010 0096 NEXGRAM 0.015 Unch 945.6 0.013 — — 31.1
1.165 0.975 1.020 1.000 5121 HEKTAR 1.000 UNCH 96.3 1.006 15.22 8.34 462.0 0.910 0.435 0.660 0.625 0035 OPCOM 0.640 0.015 12901 0.644 — 5.08 103.2
2.100 1.534 2.080 2.060 5227 IGBREIT 2.060 -0.020 4699.5 2.069 21.33 4.48 7,304.4 0.100 0.045 0.055 0.050 0123 PRIVA 0.055 -0.005 550.9 0.051 — — 30.7
0.863 0.698 0.840 0.835 5280 KIPREIT 0.835 0.005 84.2 0.836 12.39 7.22 421.9 0.165 0.060 0.070 0.060 0007 PUC 0.065 Unch 3472.8 0.065 14.77 — 143.1
8.388 7.060 8.270 8.110 5235SS KLCC 8.150 -0.040 1944.2 8.153 20.17 4.29 14,713.5 0.454 0.146 0.415 0.395 0032 REDTONE 0.395 -0.005 5161.1 0.403 16.19 — 299.7
1.080 1.020 1.030 1.030 5123 MQREIT 1.030 UNCH 11 1.030 17.11 7.00 1,103.9 0.355 0.140 — — 0173 REV 0.140 — — — — — 18.8
1.900 1.447 1.870 1.840 5212 PAVREIT 1.860 -0.010 253.7 1.855 19.42 4.75 5,656.4 0.310 0.090 0.135 0.120 0178 SEDANIA 0.130 0.010 1836.6 0.125 — — 32.3
1.980 1.534 1.950 1.900 5176 SUNREIT 1.910 -0.040 3520.2 1.921 14.45 5.02 5,625.1 0.340 0.195 0.210 0.205 0129 SRIDGE 0.210 Unch 55 0.208 15.11 — 29.5
0.909 0.813 0.865 0.860 5111 TWRREIT 0.860 -0.005 40.9 0.862 26.14 6.90 241.2 0.070 0.040 0.050 0.045 0165 XOX 0.050 Unch 630.9 0.046 — — 54.6
1.425 1.187 1.310 1.300 5110 UOAREIT 1.310 UNCH 31.2 1.307 15.32 6.97 554.0 FINANCIAL SERVICES
1.390 1.073 1.390 1.370 5109 YTLREIT 1.380 0.010 418.2 1.380 22.44 5.60 2,352.1 0.075 0.040 0.050 0.045 0150 FINTEC 0.050 0.005 100 0.050 — — 30.7
SPAC 0.600 0.390 0.430 0.405 0053 OSKVI 0.430 0.020 14.7 0.415 — — 85.0
0.51 0.480 — — 5270 RSENA 0.505 — — — — — 505.0 HEALTH CARE
ENERGY 0.245 0.130 0.140 0.130 0163 CAREPLS 0.135 0.005 822.8 0.135 — — 71.7
0.155 0.056 0.095 0.090 5115 ALAM 0.095 UNCH 2799 0.092 — — 90.9 0.165 0.090 0.095 0.095 0182 LKL 0.095 Unch 8 0.095 — — 40.7
0.605 0.145 0.295 0.285 5210 ARMADA 0.285 UNCH 81909 0.290 — — 1,674.8 0.425 0.205 — — 0155 MGRC 0.265 — — — — — 27.4
0.165 0.025 0.035 0.030 7251 BARAKAH 0.035 UNCH 1301.7 0.034 — — 29.3 0.575 0.277 0.575 0.540 0201 NOVA 0.550 0.005 2047 0.555 14.91 0.91 174.8
0.995 0.201 0.975 0.940 5257 CARIMIN 0.965 0.035 13856 0.957 78.46 3.11 225.7 TRANSPORTATION & LOGISTICS
1.370 0.735 0.925 0.925 5071 COASTAL 0.925 UNCH 2.9 0.925 33.64 — 492.0 0.110 0.055 0.060 0.055 0048 ANCOMLB 0.060 -0.005 433.4 0.060 — — 28.4
0.035 0.005 0.010 0.005 0091 DAYA 0.005 UNCH 170.4 0.007 — — 10.2 0.285 0.195 0.210 0.200 0080 STRAITS 0.205 0.005 484.5 0.205 19.34 — 133.4
1.750 0.500 1.580 1.520 5141 DAYANG 1.570 0.050 27583 1.550 7.83 — 1,514.8 0.500 0.295 — — 0199 TRIMODE 0.380 — — — 18.27 2.63 63.1
1.281 0.786 1.000 0.815 5132 DELEUM 1.000 0.175 2023.7 0.939 14.29 3.65 401.6 CONSTRUCTION
3.615 2.703 3.530 3.480 7277 DIALOG 3.500 -0.020 13315 3.500 36.80 0.94 19,745 0.348 0.205 0.300 0.295 0198 GDB 0.300 Unch 298.6 0.295 7.06 6.67 187.5
0.510 0.275 0.365 0.355 7253 HANDAL 0.365 UNCH 116.2 0.358 — — 79.9 0.400 0.235 0.260 0.255 0206 NADIBHD 0.260 Unch 343 0.256 6.16 — 195.8
7.060 4.290 4.340 4.290 4324 HENGYUAN 4.300 -0.040 412.3 4.307 — — 1,290.0 0.050 0.010 0.030 0.030 0109 SCBUILD 0.030 Unch 0.2 0.030 15.00 — 26.5
1.360 0.760 0.995 0.970 5199 HIBISCS 0.975 UNCH 11172 0.982 6.73 — 1,548.5 PLANTATION
0.300 0.130 0.140 0.135 2739 HUAAN 0.135 UNCH 1452.7 0.136 15.34 — 151.5 0.080 0.065 0.070 0.065 0189 MATANG 0.065 Unch 218 0.069 72.22 3.08 117.7
0.175 0.045 0.055 0.045 5255 ICON 0.050 0.005 12424 0.052 — — 58.9 UTILITIES
0.440 0.070 0.385 0.370 7164 KNM 0.375 0.005 23003 0.377 — — 977.0 0.364 0.180 0.225 0.215 0011 BTECH 0.215 -0.005 873.3 0.219 13.19 7.44 54.2
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 8 Markets T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY

B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

Bursa Malaysia Equity Derivatives YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE WARRANTS CLOSE
(RM)
+/-
(RM)
VOL PARENT
(‘000)
EXE
PRICE PRICE
PR’M
(%)
EXPIRY
DATE
Main Market & Ace Market Warrants 0.008 0.003 — — 7013WA HUBLINE-WA 0.005 — — 0.050 3.160 6,230 04/11/2019
0.015 0.005 0.005 0.005 7013WB HUBLINE-WB 0.005 Unch 213.3 0.050 0.200 310.00 20/12/2020
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.025 0.010 0.020 0.020 7013WC HUBLINE-WC 0.020 0.005 5 0.067 0.055 11.94 17/12/2023
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.055 0.020 0.030 0.030 9601WD HWGB-WD 0.030 Unch 59.5 0.080 0.320 337.50 15/03/2021
0.045 0.005 — — 4251WA IBHD-WA 0.005 — — 0.315 1.410 349.21 08/10/2019
0.555 0.220 0.365 0.330 70342 A50CHIN-C42 0.340 -0.015 1631.8 7.907 7.985 7.43 31/12/2019 0.870 0.290 0.435 0.420 9687WB IDEAL-WB 0.420 0.030 43.9 1.510 1.000 -5.96 30/03/2021
0.150 0.125 0.130 0.130 70344 A50CHIN-C44 0.130 -0.010 15 7.907 8.943 18.03 20/02/2020 0.020 0.005 — — 0174WA IDMENSN-WA 0.005 — — 0.020 0.200 925.00 14/07/2020
0.195 0.130 0.185 0.170 70348 A50CHIN-C48 0.180 Unch 5285 7.907 9.315 21.23 31/03/2020 0.125 0.125 0.125 0.125 522516 IHH-C16 0.125 Unch 200 5.800 6.100 12.72 31/03/2020
0.380 0.275 0.365 0.340 70350 A50CHIN-C50 0.345 -0.010 4231 7.907 8.251 10.89 31/03/2020 0.180 0.090 0.120 0.120 333628 IJM-C28 0.120 0.005 30 2.220 2.300 19.82 31/03/2020
0.480 0.050 0.055 0.050 70329 A50CHIN-H29 0.050 -0.010 75 7.189 7.452 4.71 30/09/2019 0.210 0.100 0.115 0.105 333630 IJM-C30 0.105 0.005 220.4 2.220 2.000 4.28 29/11/2019
0.090 0.015 0.020 0.015 5238WA AAX-WA 0.015 -0.005 104.6 0.175 0.460 171.43 08/06/2020 0.170 0.100 0.120 0.105 333632 IJM-C32 0.105 0.005 156.4 2.220 2.280 12.16 14/02/2020
0.130 0.050 0.060 0.060 509981 AIRASIAC81 0.060 Unch 399.8 1.820 1.847 12.78 31/01/2020 0.100 0.090 0.095 0.090 333633 IJM-C33 0.090 -0.005 270 2.220 2.550 26.22 31/03/2020
0.200 0.045 0.055 0.050 509983 AIRASIAC83 0.050 -0.005 150 1.820 1.971 13.16 31/10/2019 0.105 0.005 0.005 0.005 16626 INARI-C26 0.005 -0.025 25 0.285 1.850 554.39 30/09/2019
0.200 0.085 0.090 0.090 509986 AIRASIAC86 0.090 -0.005 200 1.820 2.053 22.93 31/01/2020 0.125 0.080 0.100 0.100 16643 INARI-C43 0.100 0.010 1005 1.730 1.780 23.12 31/01/2020
0.145 0.040 0.050 0.045 509987 AIRASIAC87 0.045 -0.005 920 1.820 2.326 32.05 31/01/2020 0.180 0.120 0.165 0.160 16644 INARI-C44 0.160 -0.005 560 1.730 1.500 10.75 31/01/2020
0.100 0.040 0.050 0.050 509988 AIRASIAC88 0.050 Unch 50 1.820 2.053 19.36 29/05/2020 0.125 0.100 0.120 0.120 16645 INARI-C45 0.120 0.020 3199.4 1.730 1.880 29.48 30/06/2020
0.115 0.045 0.055 0.055 509989 AIRASIAC89 0.055 Unch 20 1.820 2.039 18.23 14/02/2020 0.090 0.050 0.080 0.080 16646 INARI-C46 0.080 Unch 258.8 1.730 1.800 15.61 28/02/2020
0.065 0.060 0.065 0.065 509991 AIRASIAC91 0.065 Unch 1950 1.820 2.280 34.56 16/03/2020 0.100 0.070 0.100 0.095 16648 INARI-C48 0.095 Unch 3350 1.730 1.850 22.31 31/03/2020
0.090 0.080 0.085 0.085 509992 AIRASIAC92 0.085 Unch 1990 1.820 1.950 19.29 31/03/2020 1.880 0.710 1.200 1.160 0166WB INARI-WB 1.200 Unch 233 1.730 0.533 0.19 17/02/2020
0.185 0.100 0.110 0.110 5014C9 AIRPORT-C9 0.110 -0.005 25 8.500 8.000 4.47 30/04/2020 0.060 0.010 0.020 0.015 0094WA INIX-WA 0.020 0.005 129.3 0.055 0.100 118.18 16/11/2020
0.070 0.035 0.045 0.040 5115WA ALAM-WA 0.045 0.005 3427.1 0.095 0.120 73.68 28/03/2022 0.180 0.025 0.040 0.030 3379WB INSAS-WB 0.035 -0.010 250.5 0.815 1.000 26.99 25/02/2020
0.190 0.090 0.190 0.180 521051 ARMADA-C51 0.180 Unch 270.1 0.285 0.235 14.04 30/06/2020 0.080 0.045 0.050 0.050 5249CW IOIPG-CW 0.050 Unch 80 1.140 1.280 21.05 30/04/2020
0.105 0.065 0.105 0.105 521052 ARMADA-C52 0.105 0.005 70.9 0.285 0.300 42.11 11/02/2020 0.020 0.005 0.005 0.005 0024WB JAG-WB 0.005 Unch 72.2 0.035 0.150 342.86 15/11/2020
0.080 0.035 0.045 0.040 4057WB ASIAPAC-WB 0.040 -0.005 300.1 0.125 0.250 132.00 25/05/2022 0.685 0.150 0.520 0.520 4723WB JAKS-WB 0.520 0.020 33.1 0.760 0.640 52.63 13/12/2023
0.120 0.065 0.070 0.070 639915 ASTRO-C15 0.070 0.005 700 1.350 1.400 19.26 31/01/2020 0.170 0.050 0.080 0.075 0111WC K1-WC 0.075 Unch 151.8 0.200 0.300 87.50 30/12/2021
0.285 0.140 0.165 0.155 7579WA AWC-WA 0.155 -0.005 192.9 0.605 0.880 71.07 25/12/2023 0.050 0.010 0.025 0.025 0170WA KANGER-WA 0.025 -0.005 273 0.065 0.100 92.31 13/04/2020
0.295 0.090 0.105 0.095 688836 AXIATA-C36 0.105 0.010 440.5 4.200 3.750 3.04 23/10/2019 0.030 0.015 0.015 0.015 3115WC KBUNAI-WC 0.015 Unch 1.1 0.090 0.131 62.22 20/10/2023
0.230 0.105 0.110 0.105 688838 AXIATA-C38 0.110 -0.085 204.4 4.200 4.440 21.43 30/04/2020 0.075 0.015 0.015 0.015 7161CK KERJAYA-CK 0.015 -0.015 90 1.400 1.600 17.50 07/10/2019
0.180 0.050 0.060 0.055 688839 AXIATA-C39 0.060 Unch 5401.2 4.200 4.880 25.48 31/01/2020 0.345 0.140 0.280 0.265 7161WB KERJAYA-WB 0.275 0.010 207.5 1.400 1.600 33.93 28/02/2023
0.210 0.070 0.070 0.070 688840 AXIATA-C40 0.070 Unch 345 4.200 4.880 26.19 06/01/2020 0.025 0.005 — — 0036WB KGROUP-WB 0.005 — — 0.035 0.200 485.71 01/05/2020
0.180 0.040 0.050 0.040 688841 AXIATA-C41 0.045 Unch 1300.1 4.200 5.000 25.48 23/01/2020 0.315 0.010 0.190 0.175 7164WB KNM-WB 0.185 0.010 11262 0.375 1.000 216.00 21/04/2020
0.160 0.055 0.055 0.055 688842 AXIATA-C42 0.055 -0.055 390 4.200 5.600 41.19 31/03/2020 0.090 0.010 0.070 0.060 7017WB KOMARK-WB 0.070 -0.005 509.3 0.320 0.230 -6.25 21/01/2020
0.100 0.035 0.035 0.035 688844 AXIATA-C44 0.035 Unch 1100 4.200 5.380 33.10 14/02/2020 0.110 0.070 0.070 0.070 7153CZ KOSSAN-CZ 0.070 -0.005 200 4.280 4.250 7.48 23/10/2019
0.120 0.055 0.065 0.060 688845 AXIATA-C45 0.065 0.005 1805.1 4.200 4.880 28.57 28/08/2020 0.045 0.005 0.015 0.010 5172WA KSTAR-WA 0.015 0.005 400.2 0.095 0.080 0.00 10/04/2021
0.485 0.170 0.315 0.300 0098WA BAHVEST-WA 0.310 0.005 2829.6 0.560 0.430 32.14 20/08/2024 0.035 0.005 0.010 0.005 0018WB LAMBO-WB 0.010 Unch 320 0.055 0.160 209.09 29/04/2024
0.085 0.050 0.055 0.055 4162CP BAT-CP 0.055 0.005 200.1 18.799 23.500 32.32 15/05/2020 0.310 0.125 0.145 0.140 9385WA LAYHONG-WA 0.140 -0.005 329.5 0.400 0.400 35.00 13/10/2021
0.100 0.100 0.100 0.100 4162CQ BAT-CQ 0.100 Unch 200 18.800 20.000 27.66 28/08/2020 0.260 0.135 0.145 0.145 8494WB LBICAP-WB 0.145 Unch 30 0.635 0.500 1.57 24/06/2024
0.009 0.004 — — 5248C5 BAUTO-C5 0.005 — — 0.254 2.800 1,008 14/02/2020 0.355 0.065 0.065 0.065 5789WB LBS-WB 0.065 -0.010 34 0.515 0.560 21.36 04/10/2020
0.395 0.115 0.255 0.245 5258WA BIMB-WA 0.250 -0.005 487.2 3.960 4.720 25.51 04/12/2023 0.150 0.020 0.025 0.025 6633CJ LHI-CJ 0.025 -0.005 670 0.820 1.050 34.15 20/12/2019
0.070 0.015 0.025 0.020 6998WA BINTAI-WA 0.020 Unch 260.6 0.120 0.200 83.33 15/06/2020 0.060 0.010 0.025 0.020 6633CK LHI-CK 0.025 Unch 570 0.820 0.950 21.95 28/02/2020
0.135 0.055 0.060 0.060 0179WA BIOHLDG-WA 0.060 Unch 8.5 0.205 0.220 36.59 05/01/2022 0.180 0.170 0.180 0.170 6633CL LHI-CL 0.175 Unch 3614.8 0.820 0.750 12.80 28/08/2020
0.070 0.045 0.045 0.045 3239WB BJASSET-WB 0.045 Unch 420 0.305 0.350 29.51 09/06/2023 0.126 0.005 0.010 0.010 7126WA LONBISC-WA 0.010 Unch 335.5 0.150 0.800 440.00 26/01/2020
0.070 0.030 0.035 0.030 3395WB BJCORP-WB 0.035 Unch 160 0.255 1.000 305.88 22/04/2022 0.045 0.015 0.020 0.020 5068WA LUSTER-WA 0.020 Unch 97 0.070 0.100 71.43 03/06/2022
0.095 0.050 — — 3395WC BJCORP-WC 0.060 — — 0.255 1.000 315.69 29/05/2026 0.050 0.020 0.030 0.025 5068WB LUSTER-WB 0.030 Unch 400.2 0.070 0.100 85.71 26/05/2023
0.095 0.050 0.050 0.050 1562CY BJTOTO-CY 0.050 -0.005 2 2.690 2.880 12.64 04/11/2019 0.055 0.010 0.015 0.010 0140WA MACPIE-WA 0.015 Unch 150.7 0.140 0.480 253.57 17/02/2021
0.200 0.105 0.140 0.135 1562CZ BJTOTO-CZ 0.140 0.005 640 2.690 2.600 7.06 28/02/2020 0.140 0.120 0.140 0.135 3859C5 MAGNUM-C5 0.135 0.010 90.7 2.830 3.000 15.55 16/03/2020
0.030 0.015 0.020 0.015 7036WD BORNOIL-WD 0.020 Unch 25.5 0.045 0.070 100.00 29/05/2027 0.075 0.005 0.010 0.010 8583WC MAHSING-WC 0.010 Unch 100 0.845 2.100 149.70 21/02/2020
0.175 0.050 0.065 0.065 6297WA BOXPAK-WA 0.065 Unch 18 1.100 2.040 91.36 13/03/2022 0.260 0.050 0.055 0.050 5236WA MATRIX-WA 0.055 0.005 70.2 1.930 2.400 27.20 20/07/2020
0.045 0.005 — — 7188WA BTM-WA 0.005 — — 0.100 0.940 845.00 20/12/2019 0.165 0.105 0.125 0.125 601211 MAXIS-C11 0.125 -0.005 1280 5.600 5.280 7.68 30/04/2020
0.065 0.005 0.005 0.005 181823 BURSA-C23 0.005 -0.005 12 3.115 7.300 135.47 29/11/2019 0.140 0.065 0.100 0.095 601212 MAXIS-C12 0.100 Unch 169.2 5.600 5.400 5.36 29/11/2019
0.435 0.150 0.180 0.155 7154WA CAELY-WA 0.180 Unch 0.3 0.340 0.190 8.82 22/04/2021 0.145 0.075 0.080 0.080 601213 MAXIS-C13 0.080 Unch 40 5.600 5.880 11.43 06/01/2020
0.130 0.005 — — 7076WA CBIP-WA 0.005 — — 0.485 2.400 395.88 06/11/2019 0.125 0.080 0.115 0.110 601214 MAXIS-C14 0.115 Unch 701 5.600 5.580 9.91 28/02/2020
0.205 0.070 0.095 0.090 7035WA CCK-WA 0.090 Unch 146.5 0.495 0.900 100.00 18/06/2023 0.005 0.005 — — 5189WA MAXWELL-WA 0.005 — — 0.010 0.400 3,950 24/03/2020
0.075 0.020 0.020 0.020 102352 CIMB-C52 0.020 -0.005 5 5.030 5.950 20.28 20/12/2019 0.065 0.005 0.010 0.005 115552 MAYBANKC52 0.010 0.005 200.3 5.747 9.500 66.52 29/11/2019
0.105 0.080 0.080 0.080 102354 CIMB-C54 0.080 -0.010 1399.9 5.030 5.350 13.52 31/03/2020 0.005 0.005 — — 115553 MAYBANKC53 0.005 — — 0.787 10.000 1,175 17/09/2019
0.090 0.015 0.015 0.015 285217 CMSB-C17 0.015 Unch 135 2.310 3.150 38.31 14/02/2020 0.060 0.035 0.040 0.040 115559 MAYBANKC59 0.040 Unch 90 8.890 9.000 5.29 30/04/2020
0.070 0.010 0.015 0.015 0102WA CONNECT-WA 0.015 -0.005 180.1 0.085 0.100 35.29 17/09/2021 0.145 0.125 0.145 0.140 115560 MAYBANKC60 0.140 0.005 1195 8.890 8.880 7.76 31/03/2020
0.430 0.110 0.195 0.180 8125WB DAIBOCI-WB 0.195 0.010 14.1 1.720 2.500 56.69 19/06/2022 0.535 0.250 0.395 0.390 5152WA MBL-WA 0.395 -0.005 15.5 1.210 0.800 -1.24 28/11/2022
0.440 0.175 0.245 0.245 5276WA DANCO-WA 0.245 0.005 30 0.505 0.300 7.92 22/05/2022 0.500 0.180 0.500 0.495 5983CI MBMR-CI 0.500 0.020 40 4.390 3.880 11.16 11/02/2020
0.140 0.030 0.075 0.065 3484WA DBHD-WA 0.075 0.005 155.6 0.405 0.580 61.73 27/11/2020 0.365 0.130 0.360 0.330 5983CJ MBMR-CJ 0.335 0.005 1472.7 4.390 3.180 2.96 30/04/2020
0.070 0.005 0.010 0.010 0152WB DGB-WB 0.010 -0.005 0.1 0.095 0.120 36.84 27/06/2021 0.105 0.045 — — 5040WA MERIDIAN-WA 0.085 — — 0.075 0.500 680.00 13/08/2021
0.140 0.070 0.075 0.075 727745 DIALOG-C45 0.075 -0.005 10 3.500 3.600 8.21 31/10/2019 0.030 0.005 0.010 0.010 5040WB MERIDIAN-WB 0.010 Unch 100 0.075 0.900 1,11 22/04/2022
0.105 0.095 0.100 0.100 727750 DIALOG-C50 0.100 Unch 19 3.500 3.380 10.86 08/05/2020 0.035 0.005 0.015 0.010 5040WC MERIDIAN-WC 0.015 Unch 178 0.075 0.800 986.67 24/08/2024
0.005 0.005 — — 727751 DIALOG-C51 0.005 — — 0.267 3.680 1,287 30/04/2020 0.190 0.050 0.190 0.170 7234WA MESB-WA 0.185 Unch 918.1 0.415 0.300 16.87 27/12/2022
0.140 0.060 0.085 0.080 694730 DIGI-C30 0.085 Unch 300 4.610 4.600 10.85 30/04/2020 1.940 1.010 1.640 1.600 3069WA MFCB-WA 1.640 0.010 348.4 3.860 2.220 0.00 08/04/2020
0.125 0.045 0.050 0.045 694731 DIGI-C31 0.045 -0.005 244 4.610 5.050 13.94 20/12/2019 0.570 0.125 0.265 0.250 3662WC MFLOUR-WC 0.255 0.005 346 0.575 0.680 62.61 23/01/2024
0.090 0.040 0.050 0.045 694734 DIGI-C34 0.050 0.005 111.3 4.610 5.550 25.27 28/02/2020 0.400 0.140 0.150 0.150 7595WA MGB-WA 0.150 -0.005 6 0.660 0.500 -1.52 27/10/2019
0.040 0.015 — — 0029WB DIGISTA-WB 0.025 — — 0.050 0.260 470.00 04/04/2023 0.230 0.025 0.045 0.045 5286CD MI-CD 0.045 Unch 100 1.940 2.250 26.42 26/11/2019
0.150 0.045 0.060 0.060 4456WD DNEX-WD 0.060 Unch 420.1 0.260 0.500 115.38 30/07/2021 0.165 0.085 0.145 0.140 381621 MISC-C21 0.140 Unch 490 7.790 7.000 5.13 26/11/2019
0.060 0.015 — — 5265WA DOLPHIN-WA 0.015 — — 0.085 0.800 858.82 29/03/2021 0.090 0.050 0.090 0.090 381623 MISC-C23 0.090 0.030 25 7.790 7.500 4.36 29/05/2020
0.195 0.030 0.045 0.040 7169WA DOMINAN-WA 0.045 0.010 240 1.260 1.300 6.75 10/09/2020 0.170 0.170 0.170 0.170 381624 MISC-C24 0.170 0.020 140.7 7.790 7.250 8.34 29/05/2020
0.590 0.095 0.330 0.315 161970 DRBHCOMC70 0.330 0.025 31 2.490 1.800 -1.20 31/10/2019 0.095 0.015 0.020 0.015 9571WD MITRA-WD 0.020 0.005 279.3 0.285 0.940 236.84 23/08/2020
0.330 0.065 0.165 0.150 161975 DRBHCOMC75 0.160 0.005 1773.1 2.490 2.000 -0.40 31/12/2019 0.025 0.005 0.010 0.005 0085WA MLAB-WA 0.010 Unch 316.1 0.045 0.090 122.22 24/04/2020
0.230 0.070 0.090 0.090 161976 DRBHCOMC76 0.090 0.005 200 2.490 2.380 6.43 14/10/2019 0.120 0.055 0.120 0.085 0034WB MMAG-WB 0.115 0.030 8111.4 0.275 0.200 14.55 27/11/2022
0.320 0.110 0.160 0.160 161977 DRBHCOMC77 0.160 -0.080 1200 2.490 2.100 3.61 26/11/2019 0.125 0.095 0.095 0.095 219414 MMCCORPC14 0.095 -0.005 105.2 1.060 1.200 31.13 31/07/2020
0.240 0.095 0.110 0.110 161980 DRBHCOMC80 0.110 Unch 300 2.490 2.500 13.65 23/12/2019 0.025 0.005 0.015 0.015 0103WA MNC-WA 0.015 Unch 3054 0.090 0.100 27.78 05/11/2021
0.215 0.075 0.100 0.090 161981 DRBHCOMC81 0.095 0.005 2855.9 2.490 2.700 19.12 20/12/2019 0.025 0.005 0.005 0.005 0070WA MQTECH-WA 0.005 Unch 10 0.025 0.100 320.00 21/11/2021
0.310 0.090 0.155 0.145 161982 DRBHCOMC82 0.155 0.005 82.6 2.490 2.100 3.01 29/11/2019 0.375 0.010 0.040 0.035 165141 MRCB-C41 0.040 0.015 181 0.770 0.800 9.09 29/11/2019
0.260 0.115 0.160 0.150 161983 DRBHCOMC83 0.160 0.010 50.1 2.490 2.100 10.04 29/05/2020 0.145 0.045 0.045 0.045 165147 MRCB-C47 0.045 -0.045 50 0.770 0.955 35.71 31/03/2020
0.180 0.070 0.080 0.075 161985 DRBHCOMC85 0.080 0.005 285.7 2.490 2.880 25.30 28/02/2020 0.105 0.045 0.075 0.075 165152 MRCB-C52 0.075 0.005 800 0.770 0.980 39.94 30/04/2020
0.195 0.080 0.090 0.080 161986 DRBHCOMC86 0.085 0.005 1696.8 2.490 3.080 33.25 31/03/2020 0.105 0.100 0.105 0.100 165154 MRCB-C54 0.105 Unch 1000 0.770 0.830 25.52 31/03/2020
0.265 0.135 0.140 0.140 161987 DRBHCOMC87 0.140 Unch 120 2.490 2.480 16.47 30/04/2020 0.370 0.180 0.240 0.225 1651WB MRCB-WB 0.230 0.010 932.8 0.770 1.250 92.21 29/10/2027
0.210 0.100 0.100 0.100 161988 DRBHCOMC88 0.100 Unch 80 2.490 2.880 27.71 08/05/2020 0.035 0.005 — — 0092WB MTOUCHE-WB 0.020 — — 0.105 0.480 376.19 16/03/2020
0.190 0.080 0.090 0.090 161989 DRBHCOMC89 0.090 Unch 80 2.490 2.700 19.28 30/06/2020 0.045 0.005 0.030 0.025 0092WC MTOUCHE-WC 0.025 -0.005 1287.1 0.105 0.200 114.29 02/11/2020
0.085 0.070 0.070 0.070 161990 DRBHCOMC90 0.070 -0.005 910 2.490 3.380 42.77 31/03/2020 0.040 0.010 0.020 0.010 0043WA MTRONIC-WA 0.015 Unch 53371 0.055 0.080 72.73 16/04/2022
0.120 0.115 0.120 0.115 161991 DRBHCOMC91 0.120 Unch 799.6 2.490 2.880 30.12 28/08/2020 0.010 0.005 — — 5703CJ MUHIBAH-CJ 0.005 — — 0.309 3.880 1,162 07/10/2019
0.445 0.050 0.410 0.375 5216WA DSONIC-WA 0.410 0.030 10932 0.915 1.090 63.93 05/07/2023 0.220 0.065 0.070 0.065 13861 MYEG-C61 0.065 Unch 4200.6 1.430 1.300 4.55 30/09/2019
0.850 0.170 0.210 0.205 7165WA DWL-WA 0.210 -0.005 26 0.570 0.600 42.11 07/04/2021 0.240 0.085 0.085 0.085 13863 MYEG-C63 0.085 -0.005 180 1.430 1.200 1.75 23/10/2019
0.015 0.005 0.005 0.005 0154WD EAH-WD 0.005 Unch 44.9 0.015 0.050 266.67 25/10/2022 0.195 0.025 0.025 0.025 13865 MYEG-C65 0.025 -0.005 35 1.430 1.500 9.79 30/09/2019
0.015 0.005 0.005 0.005 0154WE EAH-WE 0.005 Unch 570 0.015 0.035 166.67 22/04/2023 0.200 0.080 0.080 0.080 13866 MYEG-C66 0.080 -0.005 50 1.430 1.350 11.19 29/11/2019
0.320 0.070 0.205 0.190 5253WA ECONBHD-WA 0.200 0.005 2884.7 0.775 1.250 87.10 02/01/2023 0.180 0.025 0.025 0.025 13868 MYEG-C68 0.025 -0.005 251 1.430 1.850 33.39 31/10/2019
0.030 0.010 0.015 0.010 8206CV ECOWLD-CV 0.015 0.005 400 0.685 0.880 32.85 30/04/2020 0.240 0.100 0.110 0.110 13871 MYEG-C71 0.110 Unch 140 1.430 1.350 9.79 29/11/2019
0.300 0.120 0.145 0.140 8206WA ECOWLD-WA 0.145 Unch 244.9 0.685 2.080 224.82 26/03/2022 0.070 0.025 0.025 0.025 13872 MYEG-C72 0.025 Unch 200 1.430 2.180 57.69 06/01/2020
0.085 0.030 0.045 0.045 7471WB EDEN-WB 0.045 Unch 537 0.140 0.300 146.43 13/08/2021 0.155 0.105 0.105 0.105 13876 MYEG-C76 0.105 -0.010 30 1.430 1.580 32.52 31/07/2020
0.140 0.110 0.140 0.130 1368CH EDGENTA-CH 0.140 0.010 200 3.450 3.300 7.83 29/05/2020 0.140 0.085 0.090 0.090 13877 MYEG-C77 0.090 Unch 1600 1.430 1.750 40.00 31/03/2020
0.300 0.060 0.085 0.070 8907WC EG-WC 0.080 0.010 607 0.375 0.500 54.67 03/11/2020 0.095 0.055 0.055 0.055 13879 MYEG-C79 0.055 Unch 100 1.430 2.080 56.22 31/03/2020
0.150 0.115 0.115 0.115 8877C1 EKOVEST-C1 0.115 Unch 840 0.815 0.950 37.73 31/03/2020 0.305 0.170 0.190 0.190 0108WB N2N-WB 0.190 Unch 12.5 0.720 0.830 41.67 08/01/2024
0.095 0.045 0.045 0.045 8877CU EKOVEST-CU 0.045 Unch 4500 0.815 1.100 48.22 20/12/2019 0.008 0.003 — — 0096WA NEXGRAM-WA 0.005 — — 0.015 0.100 600.00 16/05/2022
0.145 0.075 0.095 0.095 8877CX EKOVEST-CX 0.095 -0.005 617 0.815 0.880 31.29 30/04/2020 0.010 0.005 — — 0096WB NEXGRAM-WB 0.005 — — 0.015 0.260 1,667 21/07/2023
0.155 0.100 0.105 0.100 8877CY EKOVEST-CY 0.100 -0.005 656.9 0.815 0.830 26.38 29/05/2020 0.015 0.005 — — 0096WC NEXGRAM-WC 0.005 — — 0.015 0.100 600.00 15/01/2024
0.325 0.090 0.100 0.090 5283WA EWINT-WA 0.100 0.010 834.3 0.635 1.450 144.09 04/04/2022 0.335 0.060 0.130 0.125 7241WA NGGB-WA 0.125 -0.005 36 0.385 0.600 88.31 18/10/2020
0.050 0.005 — — 06505W FBMKLCI-C5W 0.005 — — 322.55 1,730 437.44 30/09/2019 0.045 0.010 0.025 0.020 7139WB NICE-WB 0.025 Unch 1348 0.050 0.060 70.00 22/01/2024
0.215 0.080 0.080 0.080 06507E FBMKLCI-C7E 0.080 Unch 30 1,602 1,660 6.10 31/01/2020 0.095 0.045 0.050 0.050 7215WB NIHSIN-WB 0.050 -0.005 351.6 0.150 0.138 25.33 13/05/2022
0.080 0.010 0.015 0.015 06507F FBMKLCI-C7F 0.015 Unch 100 967.42 1,670 73.71 31/12/2019 0.375 0.150 0.195 0.190 0083WC NOTION-WC 0.195 -0.035 3 0.515 0.840 100.97 14/03/2023
0.070 0.050 0.055 0.055 06507L FBMKLCI-C7L 0.055 Unch 100 1,602 1,600 2.26 28/02/2020 0.150 0.060 0.120 0.085 0172WA OCK-WA 0.115 0.030 44313 0.650 0.710 26.92 15/12/2020
0.185 0.070 0.140 0.090 06508H FBMKLCI-H8H 0.140 -0.020 300.4 1,602 1,670 10.34 31/12/2019 0.100 0.020 0.025 0.020 7071WC OCR-WC 0.025 Unch 200.1 0.240 0.500 118.75 24/07/2021
0.575 0.155 0.165 0.165 522267 FGV-C67 0.165 -0.005 50 0.940 0.800 2.66 31/10/2019 0.125 0.045 0.055 0.055 7071WD OCR-WD 0.055 -0.005 121.6 0.240 0.220 14.58 18/02/2022
0.160 0.010 0.010 0.010 522270 FGV-C70 0.010 Unch 300 0.940 1.300 39.89 29/11/2019 0.145 0.020 0.050 0.045 0079WA ORION-WA 0.050 0.005 775 0.090 0.170 144.44 26/07/2022
0.085 0.030 0.030 0.030 522278 FGV-C78 0.030 Unch 200 0.940 1.180 34.15 31/01/2020 0.130 0.020 0.025 0.025 5053WC OSK-WC 0.025 -0.005 25.9 0.950 1.200 28.95 22/07/2020
0.050 0.030 0.030 0.030 522279 FGV-C79 0.030 Unch 300 0.940 1.400 57.87 31/03/2020 0.365 0.100 0.180 0.175 5260WA OWG-WA 0.180 0.005 348.6 0.575 0.800 70.43 29/09/2023
0.135 0.130 0.135 0.130 522281 FGV-C81 0.130 Unch 1690 0.940 0.950 20.43 31/03/2020 0.240 0.190 0.215 0.205 8419WA PANSAR-WA 0.215 Unch 21 0.460 0.630 83.70 06/06/2023
0.185 0.125 0.170 0.165 0128CA FRONTKN-CA 0.170 0.005 7874.4 1.680 1.380 12.50 30/06/2020 0.150 0.045 0.070 0.070 5125WA PANTECH-WA 0.070 -0.010 100 0.490 0.500 16.33 21/12/2020
0.140 0.090 0.125 0.120 0128CB FRONTKN-CB 0.125 0.005 5411.3 1.680 1.680 22.32 30/06/2020 0.160 0.060 0.120 0.100 5125WB PANTECH-WB 0.110 -0.010 63.2 0.490 0.500 24.49 21/12/2021
0.150 0.100 0.145 0.140 0128CC FRONTKN-CC 0.145 0.010 5500 1.680 1.880 33.48 11/02/2020 0.305 0.200 0.220 0.210 1724WA PARAMON-WA 0.220 0.010 279.4 1.330 1.790 51.13 28/07/2024
0.110 0.070 0.085 0.085 0128CD FRONTKN-CD 0.085 Unch 2044 1.680 1.880 27.08 31/03/2020 0.110 0.045 0.060 0.060 6912WA PASDEC-WA 0.060 -0.005 45 0.360 1.000 194.44 03/07/2023
0.090 0.075 0.085 0.080 0128CF FRONTKN-CF 0.085 0.010 1300 1.680 2.180 44.94 16/03/2020 0.055 0.025 0.030 0.025 7225WB PA-WB 0.025 Unch 850 0.055 0.060 54.55 17/12/2022
3.000 0.510 2.160 2.100 7184WA G3-WA 2.160 -0.030 62.4 2.330 0.100 -3.00 02/10/2022 0.150 0.005 — — 129530 PBBANK-C30 0.005 — — 2.332 26.500 1,040 23/10/2019
0.450 0.075 0.220 0.210 9261WB GADANG-WB 0.220 Unch 1984.1 0.730 1.060 75.34 29/11/2021 0.220 0.025 0.025 0.025 129532 PBBANK-C32 0.025 -0.005 100 20.160 23.330 16.96 29/11/2019
0.215 0.070 0.070 0.070 539865 GAMUDA-C65 0.070 -0.010 10 3.620 3.600 8.15 31/10/2019 0.265 0.040 0.040 0.040 129535 PBBANK-C35 0.040 -0.005 100 20.160 23.280 17.46 09/12/2019
0.280 0.110 0.155 0.155 539867 GAMUDA-C67 0.155 Unch 1 3.620 3.000 0.00 31/01/2020 0.315 0.035 0.185 0.170 6068WA PCCS-WA 0.175 Unch 11077 0.435 0.600 78.16 25/12/2022
0.260 0.120 0.130 0.125 539869 GAMUDA-C69 0.130 0.005 70 3.620 3.250 4.14 29/11/2019 0.115 0.005 0.005 0.005 518331 PCHEM-C31 0.005 -0.005 50 3.495 9.150 162.80 31/12/2019
0.110 0.055 0.060 0.060 539874 GAMUDA-C74 0.060 Unch 280 3.620 3.880 13.81 14/02/2020 0.085 0.010 0.015 0.015 518333 PCHEM-C33 0.015 Unch 841.3 7.230 8.880 24.69 31/01/2020
0.520 0.125 0.280 0.270 5398WE GAMUDA-WE 0.280 0.010 765.5 3.620 4.050 19.61 06/03/2021 0.075 0.020 0.025 0.025 518334 PCHEM-C34 0.025 0.005 600 7.230 8.880 25.59 30/06/2020
0.520 0.135 0.410 0.395 5226WB GBGAQRS-WB 0.400 Unch 500.7 1.300 1.120 16.92 26/09/2023 0.080 0.040 0.055 0.045 518336 PCHEM-C36 0.055 Unch 375.6 7.230 8.180 18.46 07/02/2020
0.225 0.065 0.105 0.100 5102CB GCB-CB 0.100 -0.010 700 3.930 3.650 4.33 23/10/2019 0.090 0.060 0.070 0.070 518337 PCHEM-C37 0.070 0.005 0.1 7.230 7.800 14.18 26/03/2020
0.140 0.130 0.130 0.130 5102CG GCB-CG 0.130 -0.005 300 3.930 4.100 20.87 15/05/2020 0.135 0.115 0.135 0.115 518340 PCHEM-C40 0.135 Unch 1549.5 7.230 7.300 12.17 31/03/2020
0.190 0.025 0.045 0.035 0078WB GDEX-WB 0.040 0.005 3335.7 0.300 0.383 40.83 05/02/2020 0.025 0.005 0.005 0.005 6254WB PDZ-WB 0.005 -0.005 63 0.030 0.100 250.00 29/01/2023
0.300 0.050 0.055 0.050 471550 GENM-C50 0.055 Unch 1235.1 3.210 3.077 0.86 31/10/2019 0.250 0.160 0.215 0.205 7160CC PENTA-CC 0.205 Unch 168 3.680 3.400 11.89 31/01/2020
0.250 0.080 0.095 0.095 471552 GENM-C52 0.095 Unch 1500 3.210 2.813 2.08 30/09/2019 0.205 0.125 0.190 0.185 7160CE PENTA-CE 0.190 0.010 145.6 3.680 3.400 13.04 28/02/2020
0.150 0.020 0.025 0.020 471554 GENM-C54 0.025 Unch 5.2 3.210 3.565 14.10 31/12/2019 0.145 0.145 0.145 0.145 7160CG PENTA-CG 0.145 Unch 30 3.680 4.080 23.87 13/03/2020
0.150 0.025 0.030 0.030 471556 GENM-C56 0.030 Unch 1317 3.210 3.500 13.24 26/11/2019 0.125 0.005 0.015 0.005 8311WC PESONA-WC 0.010 -0.005 8669.9 0.215 0.250 20.93 27/01/2020
0.250 0.060 0.075 0.070 471557 GENM-C57 0.075 Unch 960 3.210 3.300 12.15 28/02/2020 0.100 0.020 0.030 0.025 5681CY PETDAG-CY 0.030 0.005 120.5 23.880 25.000 8.46 31/01/2020
0.185 0.020 0.020 0.020 471558 GENM-C58 0.020 Unch 60 3.210 3.650 15.70 31/10/2019 0.105 0.050 0.065 0.060 6033CU PETGAS-CU 0.060 0.005 59.4 16.320 16.000 1.72 30/06/2020
0.175 0.050 0.065 0.065 471559 GENM-C59 0.065 Unch 615 3.210 3.880 27.96 28/02/2020 0.155 0.020 0.025 0.025 3611WA PGLOBE-WA 0.025 0.005 20 1.080 1.000 -5.09 07/04/2020
0.100 0.065 0.075 0.075 471560 GENM-C60 0.075 Unch 500 3.210 4.280 41.74 31/03/2020 0.160 0.145 0.145 0.145 886932 PMETAL-C32 0.145 -0.010 30 4.900 5.300 21.48 31/03/2020
0.050 0.040 0.040 0.040 471561 GENM-C61 0.040 -0.010 110 3.210 4.300 38.94 30/04/2020 0.145 0.140 0.145 0.145 886933 PMETAL-C33 0.145 Unch 156.2 4.900 4.600 8.67 15/05/2020
0.145 0.125 0.140 0.140 471563 GENM-C63 0.140 Unch 1091.9 3.210 3.400 22.49 30/04/2020 0.620 0.395 0.465 0.440 7088WB POHUAT-WB 0.440 0.045 121.7 1.450 1.000 -0.69 21/10/2020
0.090 0.075 0.080 0.075 471564 GENM-C64 0.080 -0.010 430.1 3.210 3.400 15.89 15/05/2020 0.240 0.005 0.005 0.005 463433 POS-C33 0.005 -0.005 80 0.780 2.000 157.69 31/10/2019
0.140 0.130 0.135 0.135 471565 GENM-C65 0.135 Unch 190 3.210 2.900 7.17 29/05/2020 0.115 0.025 0.030 0.030 463435 POS-C35 0.030 Unch 1156 1.560 1.900 29.49 20/12/2019
0.105 0.105 0.105 0.105 471566 GENM-C66 0.105 Unch 60 3.210 3.080 15.58 28/08/2020 0.170 0.170 0.170 0.170 463436 POS-C36 0.170 Unch 800 1.560 1.680 29.49 28/08/2020
0.165 0.020 0.025 0.020 318268 GENTINGC68 0.020 Unch 1799.9 5.840 6.600 14.73 29/11/2019 0.220 0.040 0.070 0.055 8966WA PRLEXUS-WA 0.065 0.010 206.8 0.545 1.200 132.11 14/06/2021
0.130 0.030 0.035 0.035 318270 GENTINGC70 0.035 Unch 100 5.840 6.700 18.92 30/04/2020 0.100 0.035 0.050 0.050 5070WA PRTASCO-WA 0.050 -0.005 6 0.245 0.750 226.53 25/04/2023
0.150 0.035 0.040 0.035 318272 GENTINGC72 0.040 Unch 275 5.840 6.680 18.49 14/02/2020 0.080 0.010 0.040 0.035 7145WA PSIPTEK-WA 0.040 Unch 32.9 0.140 0.100 0.00 16/11/2019
0.130 0.080 0.080 0.080 318273 GENTINGC73 0.080 -0.020 120 5.840 6.880 23.70 31/03/2020 0.135 0.025 0.040 0.035 0186WA PTRANS-WA 0.040 0.005 411.2 0.215 0.235 27.91 19/09/2020
0.100 0.085 0.085 0.085 318275 GENTINGC75 0.085 Unch 47.7 5.840 6.300 16.61 15/05/2020 0.120 0.040 0.040 0.040 0007WA PUC-WA 0.040 Unch 246.5 0.065 0.100 115.38 25/12/2024
0.100 0.100 0.100 0.100 318276 GENTINGC76 0.100 Unch 36 5.840 6.080 17.81 28/08/2020 0.390 0.100 0.140 0.130 7134WA PWF-WA 0.140 0.020 12 0.750 0.620 1.33 20/07/2021
0.245 0.085 0.095 0.085 0039WC GFM-WC 0.095 0.005 2521.1 0.335 0.380 41.79 28/01/2022 0.760 0.210 0.720 0.705 7237WA PWROOT-WA 0.710 Unch 72.9 2.080 1.540 8.17 24/07/2023
0.170 0.040 0.050 0.040 5220WA GLOTEC-WA 0.050 -0.025 14.2 0.370 0.720 108.11 17/12/2021 0.070 0.005 — — 7498WB RALCO-WB 0.005 — — 0.220 1.000 356.82 13/12/2019
0.250 0.050 0.250 0.240 0082WB GPACKET-WB 0.245 0.005 87929 0.655 0.400 -1.53 24/11/2023 0.135 0.040 0.050 0.045 5256WA REACH-WA 0.045 Unch 5636 0.190 0.750 318.42 12/08/2022
0.070 0.015 0.045 0.045 7096WA GPA-WA 0.045 Unch 100 0.105 0.100 38.10 03/06/2025 0.730 0.330 0.620 0.610 0200WA REVENUE-WA 0.615 Unch 747.2 1.500 1.250 24.33 14/01/2024
0.140 0.065 0.085 0.085 7022C1 GTRONIC-C1 0.085 Unch 20 1.780 1.880 15.17 14/02/2020 0.200 0.070 0.070 0.070 9954WB RGTBHD -WB 0.070 Unch 299.9 0.150 0.100 13.33 14/05/2023
0.105 0.065 0.065 0.065 7022CX GTRONIC-CX 0.065 Unch 2 1.780 2.080 27.81 06/01/2020 0.110 0.015 0.040 0.040 106616 RHBBANKC16 0.040 -0.005 52.8 5.660 5.500 1.41 14/10/2019
0.100 0.010 0.015 0.015 516822 HARTA-C22 0.015 0.005 15 5.330 5.400 2.72 29/11/2019 0.105 0.055 0.065 0.060 8567WB SALCON-WB 0.065 0.005 262 0.230 0.300 58.70 19/07/2025
0.210 0.100 0.125 0.120 516824 HARTA-C24 0.125 0.020 1200 5.330 4.800 2.95 26/11/2019 0.015 0.005 — — 0133WC SANICHI-WC 0.005 — — 0.045 0.630 1,311 24/09/2019
0.170 0.005 0.100 0.090 516825 HARTA-C25 0.095 0.015 245.2 5.330 5.000 2.72 14/10/2019 0.030 0.005 0.010 0.010 0133WE SANICHI-WE 0.010 Unch 1577.8 0.045 0.100 144.44 13/12/2021
0.170 0.075 0.120 0.110 516826 HARTA-C26 0.115 0.020 172.4 5.330 5.000 4.60 29/11/2019 0.125 0.040 0.115 0.115 521879 SAPNRGC79 0.115 Unch 410 0.280 0.300 27.68 31/07/2020
0.115 0.095 0.115 0.115 516829 HARTA-C29 0.115 0.015 1400 5.330 5.880 18.95 11/02/2020 0.180 0.085 0.120 0.110 5218WA SAPNRG-WA 0.115 Unch 16539 0.280 0.490 116.07 23/01/2026
0.155 0.120 0.155 0.155 516830 HARTA-C30 0.155 0.030 15 5.330 5.180 14.63 31/07/2020 0.205 0.060 0.070 0.060 5157WA SAUDEE-WA 0.060 -0.010 90.1 0.270 0.500 107.41 31/03/2021
0.295 0.200 0.240 0.240 7105WA HCK-WA 0.240 Unch 20 1.230 0.960 -2.44 26/09/2027 0.150 0.015 — — 7247WA SCGM-WA 0.020 — — 0.850 3.960 368.24 31/07/2020
0.190 0.040 0.040 0.040 5072WB HIAPTEK-WB 0.040 Unch 434.2 0.190 0.500 184.21 23/06/2021 0.075 0.020 0.030 0.030 0161WA SCH-WA 0.030 Unch 40 0.100 0.100 30.00 04/12/2021
0.100 0.055 0.065 0.065 5199C3 HIBISCS-C3 0.065 0.005 100 0.975 1.150 34.62 20/02/2020 0.065 0.005 0.030 0.025 7158WB SCOMI-WB 0.025 Unch 404.2 0.075 0.210 213.33 18/02/2023
0.140 0.115 0.140 0.140 5199C8 HIBISCS-C8 0.140 Unch 220 0.975 1.000 25.54 31/03/2020 0.510 0.370 0.510 0.470 0001WA SCOMNET-WA 0.505 0.040 660.9 0.860 0.650 34.30 19/06/2024
0.665 0.275 0.310 0.300 5199WC HIBISCS-WC 0.300 -0.005 2808.4 0.975 1.060 39.49 19/03/2021 0.140 0.030 0.045 0.045 0028WA SCOPE-WA 0.045 -0.015 29.8 0.155 0.150 25.81 17/07/2020
0.350 0.100 0.220 0.165 8443WB HIL-WB 0.220 0.055 1.7 0.515 1.080 152.43 25/10/2027 0.060 0.020 0.020 0.020 7073WC SEACERA-WC 0.020 Unch 1568 0.190 1.000 436.84 21/01/2021
0.155 0.030 0.070 0.055 0188WA HLT-WA 0.065 0.005 100.2 0.215 0.200 23.26 27/12/2022 0.170 0.085 0.100 0.100 5279CT SERBADK-CT 0.100 Unch 810 4.350 4.150 4.60 31/10/2019
0.180 0.015 0.020 0.020 5160WA HOMERIZ-WA 0.020 Unch 100 0.625 0.920 50.40 09/07/2020 0.150 0.100 0.120 0.120 5279CU SERBADK-CU 0.120 Unch 400 4.350 4.680 18.62 31/01/2020
0.315 0.125 0.205 0.195 5160WB HOMERIZ-WB 0.195 -0.010 4808 0.625 0.540 17.60 03/07/2022 0.180 0.150 0.155 0.155 5279CW SERBADK-CW 0.155 -0.005 308 4.350 4.580 17.76 31/03/2020
0.200 0.065 0.070 0.065 50410 HSBC-C10 0.065 -0.060 65.2 32.324 36.729 16.24 20/02/2020 0.330 0.185 0.270 0.270 7180WA SERN-WA 0.270 -0.020 16.5 0.565 0.400 18.58 20/03/2023
0.350 0.140 0.190 0.175 0185WA HSSEB-WA 0.190 Unch 15.1 0.765 1.700 147.06 15/03/2023 0.055 0.030 0.035 0.035 0055WA SERSOL-WA 0.035 Unch 300 0.085 0.180 152.94 18/04/2023
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Markets 2 9
G L O B A L M A R K E T S . B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

China — Stocks close down amid trade
uncertainty
SHANGHAI: China stocks ended down
yesterday, after a senior White House adviser
played down expectations of fresh trade
talks, while the market reacted coolly to a
largely symbolic pledge to further liberalise
the country’s financial markets.
The blue-chip CSI 300 Index fell 0.7% to
3,930.1 points, while the Shanghai Composite
Index (SSEC) lost 0.4% to 3,008.81 points.
Caution remained amid lingering
uncertainties over potential trade
negotiations between China and the US.
A senior White House adviser damped
down expectations on Tuesday for the next
rounds of US-China trade talks, urging
investors, businesses and public to be patient
about resolving the two-year trade dispute
between the world’s two largest economies.
Meanwhile, Beijing’s latest effort to further
open up its financial markets seemed to provide
limited support for the market, at least for now,
as the move appeared largely symbolic.
China’s foreign exchange regulator said
on Tuesday that it had decided to scrap
quota restrictions on two major inbound
investment schemes, as a weakening yuan
and rising outflows prompt Beijing to seek
to attract more foreign capital.
“At the end of the day, whether foreign
investors will invest more in China or not
depends on the current and future fundamental
outlook of the underlying economy, trend of
corporate earnings, attractiveness of their yield
and yield spreads, and the perceived strength
or weakness of the [yuan],” said Khiem Do,
head of Greater China investments at Barings.
The defensive consumer and healthcare
firms led losses for the day. The CSI 300
consumer staples index ended down 3.9%,
dragged down by liquor makers in particular.
Prices of liquor maker Moutai’s product
Feitian declined before the traditional Mid-
Autumn festival, Jiuyejia.com, a domestic
liquor media, said in a report yesterday.
Moutai, mainland’s 4th largest company,
slumped 4.8% yesterday, posting its steepest
single-day loss in four months.
The largest percentage gainers in the SSEC
were Liaoning Hongyang Energy Resource
Invest Co Ltd, up 10.06%, followed by Zhejiang
Guangsha Co Ltd , gaining 10.05% and ENN
Ecological Holdings Co Ltd, up by 10.02%.
The largest percentage losses in the
SSEC were Hefei Metalforming Intelligent
Manufacturing Co Ltd, down 10.06%, followed
by Shanghai East-China Computer Co Ltd,
losing 9.35% and Beken Corp down by 9.08%.
Europe — Stocks close tad higher, led
by gains in banks, energy
MILAN: A rally in banking shares and other
recently battered sectors such as oil and gas
and automakers kept the mood buoyant
in European stock markets on Tuesday, as
investors speculated over policy measures by the
European Central Bank (ECB) later this week.
The pan-European STOXX 600 Index, after
opening in the red, closed 0.1% higher as the
banking index climbed for a fifth session, its
best five-day rally since April 2017.
Oil and gas, basic resources and
automakers — among the worst-hit sectors
this year on worries about the US-China
trade war, Brexit and a global slowdown —
gained between 0.2% and 2%.
Investors seeking value were out in full
force, buying stocks that have lagged the
broader markets this year and driving a
turnaround in early losses.
The Austrian stock index, one of the worst
performers of 2019, rose more than 1%, while
Swiss shares, a top performer, lost 0.4%.
“Buying the winners and selling the losers
has worked really well since the middle of
February, but we think performance has
been too good,” Jefferies strategists wrote in
a note. “We think rotating back to valuations
mattering makes sense and we have started
to see this happen here in September.”
Banks outshone amid a recovery for
eurozone debt yields as investors tempered
hopes of aggressive easing measures from the
ECB even as the central bank is expected to
cut its deposit rate for the first time since 2016
and restart an asset purchase programme.
“There seems to be anxiety in the market
over how much they had already priced in and
maybe uncertainty over whether the ECB will
deliver to that extent,” said Bas van Geffen,
an ECB quantitative analyst at Rabobank.
The broad rally in eurozone banks helped
Spanish lenders such as Caixabank, Banco
Sabadell and Bankia overcome early weakness
after the European Court of Justice said the
IRPH mortgage price index used during Spain’s
property crisis could be considered abusive,
potentially causing banks to pay compensation.
Meanwhile, defensive sectors such as
healthcare, utilities and food and beverages
were among the biggest losers. The stocks
had been in high demand over the past three
months amid trade and growth uncertainties.
After a turbulent August, stocks globally
were on a firmer footing amid expectations
of stimulus from major central banks. Those
hopes were further underpinned by weak
factory data from China showing prices shrank
in August at their fastest pace in three years.
Technology stocks, a key growth sector, fell
about 1%, tracking their US counterparts lower.
JD Sports topped the STOXX 600 after
it reported higher first-half pre-tax profit,
helped by more demand for gym apparel
and premium-branded fashion.
Shares in French utility EDF sank 7%
after warning it had discovered problems
with the weldings and other components
in some of its nuclear reactors, raising fears
about potential closure.
Italian shares, meanwhile, lost 0.6% after
a report the new ruling coalition government
plans to raise the 2020 budget deficit target
to around 2.3% of economic output, bringing
it very close to the 2.4% level that almost
triggered a European Union disciplinary
procedure against Italy this year. — Reuters

Shanghai Composite Hang Seng Euro STOXX 50 Index Dow Jones

Index points Index points Index points Index points
5800 33800 3900 27500
3,008.81 27,159.06
-12.39 +475.38
4825 (-0.41%)
29305 21,056.93 (+1.78%)
3415 23025
2,772.70
3850 24810 2930 18550
10,403.79
3,087.842
2875 20315 2445 3,498.99 14075 26,909.43
+3.97 +73.92
(+0.11%) (+0.28%)
1900 15820 1960 9600
Mar 1, 2010 Sept 11, 2019 Mar 1, 2010 Sept 11, 2019 Mar 1, 2010 Sept 10, 2019 Mar 1, 2010 Sept 10, 2019

Bursa Malaysia Equity Derivatives

Main Market & ACE Market Warrants
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE
0.100 0.040 0.045 0.040 7246WA SIGN-WA 0.045 0.005 16.1 0.450 0.970 125.56 21/04/2021 0.120 0.080 — — 458819 UMW-C19 0.115 — — 5.120 5.680 22.17 08/05/2020
0.125 0.095 0.115 0.110 419738 SIME-C38 0.110 -0.015 360 2.320 2.450 17.46 31/03/2020 0.150 0.100 — — 458820 UMW-C20 0.100 — — 5.120 5.150 10.35 30/06/2020
0.145 0.050 0.055 0.055 9776WC SMCAP-WC 0.055 -0.005 22 0.140 0.200 82.14 29/08/2023 0.085 0.015 — — 500516 UNISEM-C16 0.015 — — 2.050 3.500 72.93 06/01/2020
0.060 0.025 0.035 0.035 0093WA SOLUTN-WA 0.035 Unch 140.1 0.085 0.200 176.47 04/07/2021 0.090 0.030 0.040 0.040 0060WB VC-WB 0.040 -0.005 62.5 0.160 0.150 18.75 06/05/2024
0.130 0.040 0.060 0.050 0129WA SRIDGE-WA 0.060 0.010 26 0.210 0.180 14.29 24/02/2023 0.125 0.075 — — 524327 VELESTO-C27 0.080 — — 0.310 0.210 1.29 30/09/2019
0.185 0.090 0.095 0.095 0080WA STRAITS-WA 0.095 Unch 115 0.205 0.115 2.44 10/08/2022 0.085 0.065 — — 524328 VELESTO-C28 0.065 — — 0.310 0.380 51.94 30/04/2020
0.040 0.005 — — 1201WA SUMATEC-WA 0.020 — — 0.025 0.320 1,260 03/03/2021 0.170 0.050 0.125 0.115 5243WA VELESTO-WA 0.120 Unch 6233.1 0.310 0.395 66.13 18/10/2024
0.095 0.050 0.055 0.055 5263CY SUNCON-CY 0.055 0.005 300 2.000 2.300 23.25 26/03/2020 0.600 0.410 0.540 0.470 7240WA VERTICE-WA 0.520 0.015 1017.5 0.900 0.500 13.33 31/03/2024
0.350 0.005 0.015 0.015 3743WA SUNSURIA-WA 0.015 -0.010 183.2 0.700 1.500 116.43 22/07/2020 0.355 0.100 0.100 0.100 0120WB VIS-WB 0.100 -0.005 4.5 0.365 0.750 132.88 16/11/2022
0.450 0.210 0.330 0.330 5211WB SUNWAY-WB 0.330 Unch 118.9 1.630 1.790 30.06 03/10/2024 0.090 0.035 — — 0097CN VITROX-CN 0.035 — — 7.020 7.500 11.82 14/10/2019
0.070 0.005 0.010 0.010 0148WB SUNZEN-WB 0.010 Unch 30 0.080 0.250 225.00 25/02/2021 0.010 0.005 — — 0069WC VIVOCOM-WC 0.005 — — 0.020 0.070 275.00 22/01/2020
0.110 0.005 0.005 0.005 710662 SUPERMX-C62 0.005 Unch 20 0.375 1.950 423.33 30/09/2019 0.005 0.001 — — 0069WD VIVOCOM-WD 0.005 — — 0.020 0.070 275.00 08/07/2020
0.009 0.005 — — 710663 SUPERMX-C63 0.005 — — 0.190 2.080 1,002 30/09/2019 0.015 0.005 0.005 0.005 0069WE VIVOCOM-WE 0.005 Unch 133.3 0.020 0.050 175.00 22/08/2023
0.115 0.040 0.040 0.040 710665 SUPERMX-C65 0.040 -0.010 50 1.590 1.700 13.21 23/10/2019 0.670 0.310 0.360 0.360 7070WC VIZIONE-WC 0.360 Unch 12.1 0.875 0.700 21.14 05/02/2022
0.130 0.020 0.035 0.030 710666 SUPERMX-C66 0.035 0.010 295 1.590 1.700 11.32 31/12/2019 0.100 0.035 — — 696312 VS-C12 0.055 — — 1.290 1.380 19.77 30/09/2019
0.125 0.020 0.035 0.030 710667 SUPERMX-C67 0.035 0.015 303.1 1.590 1.600 6.13 30/09/2019 0.125 0.060 0.085 0.080 696313 VS-C13 0.085 0.005 700 1.290 1.100 5.04 23/10/2019
0.200 0.075 0.110 0.095 710669 SUPERMX-C69 0.110 0.020 40.1 1.590 1.450 5.03 28/02/2020 0.085 0.040 — — 696314 VS-C14 0.045 — — 1.290 1.450 23.22 31/10/2019
0.080 0.030 0.050 0.045 710671 SUPERMX-C71 0.050 0.015 1210 1.590 1.880 26.10 06/01/2020 0.185 0.085 — — 696315 VS-C15 0.160 — — 1.290 1.080 8.53 29/11/2019
0.065 0.045 0.060 0.050 710673 SUPERMX-C73 0.055 0.010 2001 1.590 1.800 21.86 11/02/2020 0.105 0.045 0.055 0.055 696316 VS-C16 0.055 Unch 150 1.290 1.200 3.68 14/10/2019
0.080 0.055 0.080 0.065 710674 SUPERMX-C74 0.070 0.010 815 1.590 1.780 20.75 08/05/2020 0.085 0.065 — — 696317 VS-C17 0.070 — — 1.290 1.330 19.38 23/12/2019
0.130 0.100 0.130 0.120 710675 SUPERMX-C75 0.125 0.020 2896 1.590 1.500 15.57 31/03/2020 0.245 0.155 0.240 0.230 696318 VS-C18 0.230 -0.005 36 1.290 0.950 9.30 31/01/2020
0.320 0.065 0.090 0.085 6139CE TAKAFUL-CE 0.090 0.005 235.8 5.860 5.300 -0.34 31/01/2020 0.125 0.075 0.115 0.115 696319 VS-C19 0.115 Unch 270 1.290 1.250 19.19 31/01/2020
0.045 0.015 0.025 0.015 2429WB TANCO-WB 0.015 -0.005 2025.3 0.055 0.050 18.18 23/08/2021 0.135 0.080 0.125 0.125 696320 VS-C20 0.125 -0.005 360 1.290 1.280 18.60 30/06/2020
0.055 0.030 0.035 0.035 7097WA TAWIN-WA 0.035 Unch 525.2 0.110 0.200 113.64 05/08/2022 0.100 0.060 0.090 0.090 696321 VS-C21 0.090 -0.005 1898.4 1.290 1.280 20.16 11/02/2020
0.125 0.015 0.045 0.035 7200WA TEKSENG-WA 0.045 0.010 119.8 0.235 0.250 25.53 29/01/2020 0.100 0.095 — — 696322 VS-C22 0.100 — — 1.290 1.420 25.58 29/05/2020
0.135 0.010 0.070 0.055 534754 TENAGA-C54 0.060 Unch 298.1 13.940 13.800 2.44 23/10/2019 0.085 0.085 0.085 0.085 696323 VS-C23 0.085 Unch 824.6 1.290 1.400 26.32 30/04/2020
0.135 0.035 0.080 0.080 534755 TENAGA-C55 0.080 -0.020 27 13.940 13.000 0.72 30/09/2019 0.110 0.045 — — 967917 WCT-C17 0.045 — — 0.955 1.050 24.08 09/12/2019
0.170 0.030 0.140 0.125 534757 TENAGA-C57 0.125 -0.010 267.7 13.940 12.600 -0.65 31/01/2020 0.195 0.090 0.090 0.090 967918 WCT-C18 0.090 -0.015 100 0.955 0.935 16.75 30/04/2020
0.195 0.125 0.145 0.145 534759 TENAGA-C59 0.145 Unch 200 13.940 13.200 5.09 06/01/2020 0.140 0.085 — — 967919 WCT-C19 0.095 — — 0.955 1.100 33.09 20/12/2019
0.105 0.070 0.080 0.080 534761 TENAGA-C61 0.080 0.005 30 13.940 14.880 13.63 31/01/2020 0.170 0.110 — — 967920 WCT-C20 0.120 — — 0.955 1.060 36.13 29/05/2020
0.130 0.100 0.110 0.110 534764 TENAGA-C64 0.110 Unch 120 13.940 13.880 9.04 08/05/2020 0.200 0.045 0.080 0.075 9679WE WCT-WE 0.080 Unch 2267.9 0.955 2.080 126.18 27/08/2020
0.140 0.125 0.135 0.135 534766 TENAGA-C66 0.135 Unch 540 13.940 13.580 10.01 31/03/2020 0.180 0.085 0.095 0.090 0197WA WEGMANS-WA 0.095 0.005 92.2 0.255 0.300 54.90 13/01/2022
0.460 0.040 0.045 0.040 7252WA TEOSENG-WA 0.040 -0.015 212.2 1.100 1.350 26.36 29/01/2020 0.180 0.050 0.075 0.070 0162WA WIDAD-WA 0.075 Unch 362.3 0.225 0.350 88.89 05/08/2023
1.300 0.705 0.995 0.955 7034WA TGUAN-WA 0.965 -0.015 166.3 2.500 1.500 -1.40 09/10/2019 0.160 0.135 0.145 0.145 5246C1 WPRTS-C1 0.145 -0.005 125 4.080 4.000 10.48 23/01/2020
0.025 0.005 — — 7079WC TIGER-WC 0.015 — — 0.055 0.320 509.09 11/02/2021 0.120 0.085 — — 5246C2 WPRTS-C2 0.100 — — 4.080 4.000 7.84 29/05/2020
0.330 0.065 0.110 0.095 486340 TM-C40 0.110 0.015 600.1 3.490 3.100 3.01 23/10/2019 0.125 0.060 — — 5246CZ WPRTS-CZ 0.060 — — 4.080 4.180 7.60 14/10/2019
0.260 0.030 0.030 0.030 486341 TM-C41 0.030 -0.095 20 3.490 3.500 4.58 30/09/2019 0.165 0.070 0.125 0.115 7245WA WZSATU-WA 0.120 -0.010 1035.1 0.240 0.380 108.33 28/10/2024
0.255 0.050 0.065 0.055 486342 TM-C42 0.060 0.005 450.7 3.490 3.580 11.17 04/11/2019 0.030 0.005 0.010 0.010 5156WD XDL-WD 0.010 Unch 4213 0.080 0.180 137.50 17/01/2022
0.485 0.170 0.185 0.185 486343 TM-C43 0.185 -0.015 0.8 3.490 2.800 1.43 31/03/2020 0.150 0.005 — — 7003WA Y&G-WA 0.005 — — 0.045 1.000 2,133 16/11/2019
0.520 0.195 0.245 0.230 486344 TM-C44 0.245 0.010 303.9 3.490 2.680 4.87 30/04/2020 0.240 0.165 0.165 0.165 7293C1 YINSON-C1 0.165 -0.010 110 6.720 6.600 12.95 31/01/2020
0.265 0.085 0.090 0.085 486346 TM-C46 0.090 0.005 10 3.490 3.800 21.78 23/01/2020 0.135 0.090 — — 7293C2 YINSON-C2 0.095 — — 6.720 6.750 10.34 29/05/2020
0.270 0.075 0.085 0.075 486347 TM-C47 0.085 Unch 660 3.490 4.000 25.57 31/01/2020 0.155 0.080 — — 7293C3 YINSON-C3 0.080 — — 6.720 7.800 23.81 20/02/2020
0.210 0.050 0.055 0.050 486350 TM-C50 0.055 0.005 1920 3.490 4.600 38.90 31/01/2020 0.160 0.115 0.120 0.115 7293C4 YINSON-C4 0.120 -0.005 242 6.720 6.880 18.45 30/04/2020
0.170 0.065 0.065 0.065 486351 TM-C51 0.065 -0.005 667.4 3.490 4.580 42.41 30/06/2020 0.125 0.100 — — 7293C5 YINSON-C5 0.100 — — 6.720 7.880 29.17 08/05/2020
0.150 0.015 0.020 0.015 486353 TM-C53 0.020 Unch 1012.3 3.490 4.680 36.96 28/02/2020 0.575 0.095 — — 7293CW YINSON-CW 0.505 — — 6.720 4.350 2.31 31/12/2019
0.125 0.060 0.065 0.065 486354 TM-C54 0.065 0.005 204 3.490 4.880 48.21 28/02/2020 0.130 0.095 — — 7293CX YINSON-CX 0.395 — — 6.720 5.280 7.96 07/10/2019
0.125 0.085 0.095 0.085 486357 TM-C57 0.095 0.005 536 3.490 3.880 24.79 15/05/2020 0.425 0.065 — — 7293CY YINSON-CY 0.350 — — 6.720 4.750 1.93 14/10/2019
0.080 0.075 0.080 0.075 486358 TM-C58 0.080 Unch 121.8 3.490 4.180 31.23 29/05/2020 0.470 0.285 — — 7293CZ YINSON-CZ 0.385 — — 6.720 5.500 7.63 23/01/2020
0.280 0.060 0.075 0.065 7285WA TOMYPAK-WA 0.075 0.005 115 0.475 0.930 111.58 21/06/2021 0.040 0.005 — — 7020WB YKGI-WB 0.010 — — 0.100 0.500 410.00 28/05/2020
0.245 0.105 0.110 0.110 711352 TOPGLOV-C52 0.110 0.005 20 4.750 4.280 1.68 30/09/2019 0.475 0.030 0.035 0.030 7066WA YONGTAI-WA 0.030 -0.005 100.1 0.200 0.500 165.00 24/06/2020
0.115 0.095 0.115 0.115 711360 TOPGLOV-C60 0.115 0.005 380 4.750 4.880 14.84 08/05/2020 0.130 0.005 — — 467723 YTL-C23 0.005 — — 0.498 1.250 152.01 29/11/2019
0.140 0.120 0.140 0.140 711361 TOPGLOV-C61 0.140 0.005 810 4.750 4.680 13.26 28/02/2020 0.030 0.005 — — 467724 YTL-C24 0.005 — — 0.980 1.200 23.47 17/09/2019
0.260 0.080 0.100 0.095 7173WB TOYOINK-WB 0.095 -0.005 115.3 0.720 1.500 121.53 06/11/2023 0.180 0.145 — — 467725 YTL-C25 0.180 — — 0.980 1.100 30.61 29/11/2019
0.010 0.005 — — 0118WB TRIVE-WB 0.005 — — 0.015 0.090 533.33 28/08/2020 0.150 0.045 — — 467726 YTL-C26 0.045 — — 0.980 1.180 29.59 31/03/2020
0.115 0.020 — — 514867 UEMS-C67 0.025 — — 0.695 0.950 42.09 31/10/2019 0.075 0.040 — — 467727 YTL-C27 0.040 — — 0.980 1.280 38.78 09/12/2019
0.110 0.070 — — 514868 UEMS-C68 0.070 — — 0.695 0.865 44.60 31/03/2020 0.045 0.010 — — 467728 YTL-C28 0.035 — — 0.980 1.080 19.13 08/05/2020
0.040 0.010 — — 514869 UEMS-C69 0.010 — — 0.695 1.000 46.47 26/11/2019 0.040 0.005 — — 6742C7 YTLPOWR-C7 0.005 — — 0.740 1.000 36.49 17/09/2019
0.050 0.035 — — 514870 UEMS-C70 0.050 — — 0.695 0.980 55.40 09/12/2019 0.125 0.015 — — 6742C8 YTLPOWR-C8 0.015 — — 0.740 0.900 23.65 29/11/2019
0.085 0.045 — — 514871 UEMS-C71 0.045 — — 0.695 0.780 21.94 28/02/2020 0.020 0.005 — — 6742C9 YTLPOWR-C9 0.005 — — 0.740 1.080 47.30 04/11/2019
0.085 0.085 — — 458818 UMW-C18 0.085 — — 5.120 5.880 23.14 06/01/2020
Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants
3 0 Markets T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • TH EEDGE FI N AN C I AL DAI LY

INSIDER MOVES . TRADING THEMES . EVENTS . FOREX

Insider moves (Filings on September 10, 2019) Trading themes

Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook. Biggest monthly fall in 30-year US Treasury yield since 2011
COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION
(DISPOSED) SHAREHOLDER AFTER CHANGE DATE The US 30-year Treasury yield has marked its biggest monthly fall in August since the
AXIATA GROUP 1,185,300 EMPLOYEES PROVIDENT FUND BOARD 1,443,950,794 3 & 4/9 euro debt crisis.
AXIS REAL ESTATE 121,500 KUMPULAN WANG PERSARAAN 128,140,137 6/9
INVESTMENT TRUST (DIPERBADANKAN)
AXIS REAL ESTATE (87,500) EMPLOYEES PROVIDENT FUND BOARD 193,077,769 4/9
INVESTMENT TRUST
BERMAZ AUTO 861,500 EMPLOYEES PROVIDENT FUND BOARD 111,230,500 4/9
BIMB (200,000) PERMODALAN NASIONAL 94,158,103 5/9
CAPITALAND (M) MALL TRUST 223,100 KUMPULAN WANG PERSARAAN 215,881,800 6/9
(DIPERBADANKAN)
CB INDUSTRIAL PRODUCT 285,400 YACKTMAN ASSET MANAGEMENT LP., US 27,879,500 5/9
HOLDING
DIALOG GROUP (2,341,100) EMPLOYEES PROVIDENT FUND BOARD 500,372,016 4/9
DIGI.COM (847,200) EMPLOYEES PROVIDENT FUND BOARD 1,002,237,390 4/9
DRB-HICOM 2,700,000 EMPLOYEES PROVIDENT FUND BOARD 147,583,097 30/8 & 3/9
FRASER & NEAVE 300,200 EMPLOYEES PROVIDENT FUND BOARD 36,825,730 4/9
GABUNGAN AQRS 177,200 EMPLOYEES PROVIDENT FUND BOARD 30,334,288 4/9
GAMUDA 976,400 KUMPULAN WANG PERSARAAN 172,737,734 6/9
(DIPERBADANKAN)
GENTING PLANTATIONS 1,000,000 KUMPULAN WANG PERSARAAN 52,545,600 6/9
(DIPERBADANKAN)
GLOBAL ORIENTAL 80,000 DATO’ CHOO CHUO SIONG 38,230,000 6/9
GRAND-FLO 1,931,600 YBG YAP CONSOLIDATED 337,383,951 6/9
HARTALEGA (700,000) EMPLOYEES PROVIDENT FUND BOARD 205,268,400 4/9
HONG LEONG BANK (137,000) EMPLOYEES PROVIDENT FUND BOARD 259,780,721 4/9
HPMT 20,000 HERROZ MECHANICAL TECHNOLOGIES 208,222,000 5/9
HUBLINE 9,100,000 BILLION POWER 321,450,210 6/9
IGB REAL ESTATE (539,000) EMPLOYEES PROVIDENT FUND BOARD 353,511,566 4/9
INVESTMENT TRUST
IHH HEALTHCARE (1,110,600) EMPLOYEES PROVIDENT FUND BOARD 604,710,600 4/9
IJM CORPORATION 150,000 KUMPULAN WANG PERSARAAN 254,292,600 6/9
(DIPERBADANKAN)
IJM CORPORATION 518,700 EMPLOYEES PROVIDENT FUND BOARD 561,925,918 4/9
IOI CORPORATION (987,700) EMPLOYEES PROVIDENT FUND BOARD 783,633,473 4/9 Insured property losses for US catastrophes
KAREX 100,000 GOH MIAH KIAT 217,906,097 10/9
KEJURUTERAAN ASASTERA 4,464,500 FAITH CHOW POH TEN 35,842,600 5/9 Fires, floods, hurricanes and other natural disasters have cost US insurers more than
KLCC PROPERTY (827,200) EMPLOYEES PROVIDENT FUND BOARD 93,418,930 5/9
KLCC REAL ESTATE (827,200) EMPLOYEES PROVIDENT FUND BOARD 93,418,930 5/9
US$170 billion since 2016.
INVESTMENT TRUST
KUALA LUMPUR KEPONG 42,500 EMPLOYEES PROVIDENT FUND BOARD 148,257,788 4/9
M N C WIRELESS 2,500,000 CITA REALITI 39,986,200 5/9
MALAYAN BANKING (1,398,300) EMPLOYEES PROVIDENT FUND BOARD 1,389,001,591 4/9
MBM RESOURCES (358,200) EMPLOYEES PROVIDENT FUND BOARD 40,884,379 4/9
PAVILION REAL ESTATE 102,400 EMPLOYEES PROVIDENT FUND BOARD 208,920,803 4/9
INVESTMENT TRUST
PETRONAS CHEMICALS GROUP (1,177,100) EMPLOYEES PROVIDENT FUND BOARD 605,562,400 4/9
PPB GROUP 565,600 EMPLOYEES PROVIDENT FUND BOARD 168,057,149 4/9
PRG (150,000) PACIFIC VINTAGE 23,020,200 6/9
PRICEWORTH INTERNATIONAL (58,401,800) TAN SRI ABDUL RASHID HUSSAIN 207,560,608 4 & 5/9
PUBLIC BANK 2,429,900 EMPLOYEES PROVIDENT FUND BOARD 489,747,700 4/9
QL RESOURCES 75,200 EMPLOYEES PROVIDENT FUND BOARD 104,448,975 4/9
RUBBEREX CORPORATION (M) 78,000 DATO’ ABD RAHIM ABD HALIM 494,000 6/9
S P SETIA 214,000 EMPLOYEES PROVIDENT FUND BOARD 475,944,466 4/9
SERBA DINAMIK 56,100 KUMPULAN WANG PERSARAAN 94,280,700 6/9
(DIPERBADANKAN)
SERBA DINAMIK (39,400) EMPLOYEES PROVIDENT FUND BOARD 104,969,500 4/9
SIME DARBY (370,000) EMPLOYEES PROVIDENT FUND BOARD 674,111,175 4/9
SIME DARBY PLANTATION 2,000,000 KUMPULAN WANG PERSARAAN 376,063,578 6/9
(DIPERBADANKAN)
SIME DARBY PROPERTY 202,700 EMPLOYEES PROVIDENT FUND BOARD 753,572,310 4/9
SOLID AUTOMOTIVE 221,533 KER BOON KEE 31,921,450 6/9
SUNWAY 1,301,400 EMPLOYEES PROVIDENT FUND BOARD 358,208,276 30/8, 3 & 4/9
SUNWAY REAL ESTATE (1,437,200) EMPLOYEES PROVIDENT FUND BOARD 464,413,900 30/8, 3 & 4/9
INVESTMENT TRUST
SYARIKAT TAKAFUL MALAYSIA (2,400,000) EMPLOYEES PROVIDENT FUND BOARD 67,457,900 4/9
KELUARGA Stocks closest to year high Stocks closest to year low
TA ANN (51,700) DATUK WAHAB HJ DOLLAH 56,930,883 6/9
TALIWORKS CORPORATION 300,000 LEMBAGA TABUNG HAJI 149,931,933 6/9 STOCK HIGH LOW CLOSE VOLUME STOCK HIGH LOW CLOSE VOLUME
(RM) (RM) (RM) ('000) (RM) (RM) (RM) ('000)
TELEKOM MALAYSIA (2,729,400) EMPLOYEES PROVIDENT FUND BOARD 616,765,700 4/9
TENAGA NASIONAL 750,900 EMPLOYEES PROVIDENT FUND BOARD 869,523,082 4/9 MMAG-WB 0.120 0.085 0.115 8111.4 YTL 0.980 0.965 0.980 3156.1
TSH RESOURCES 100,000 TAN AIK PEN 170,736,517 10/9 MMAG-PA 0.145 0.120 0.145 7730.1 PCHEM-C31 0.005 0.005 0.005 50
UCHI TECHNOLOGIES 22,555,000 EMPLOYEES PROVIDENT FUND BOARD 22,555,000 4/9 SCOMNET-WA 0.510 0.470 0.505 660.9 HSI-H6P 0.035 0.015 0.015 11510.7
UNITED PLANTATIONS 100,000 MARTIN BEK-NIELSEN 702,389 10/9
EDGENTA 3.460 3.280 3.450 174.8 KOSSAN-CZ 0.070 0.070 0.070 200
UZMA 177,700 EMPLOYEES PROVIDENT FUND BOARD 30,439,300 4/9
V.S. INDUSTRY (873,400) KUMPULAN WANG PERSARAAN 206,512,875 6/9 PCHEM-C40 0.135 0.115 0.135 1549.5 MCT 0.225 0.210 0.215 885.9
(DIPERBADANKAN) PENTA-CG 0.145 0.145 0.145 30 PENTA-CG 0.145 0.145 0.145 30
VITROX CORPORATION (1,000,000) DATO’ SERI DR KIEW KWONG SEN 7,183,800 6/9 YTLREIT 1.390 1.370 1.380 418.2 HSBC-C10 0.070 0.065 0.065 65.2
VIZIONE 230,000 DATO’ NG AUN HOOI 142,045,632 6/9 HSI-H6Q 0.140 0.080 0.080 36724.6
MRCB-C54 0.105 0.100 0.105 1000
WESTPORTS (1,159,500) EMPLOYEES PROVIDENT FUND BOARD 190,951,400 4/9
HARTA-C30 0.155 0.155 0.155 15 HSI-H8P 0.165 0.145 0.145 45
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 share are combined due to space constraints. Readers who are interested should check the official filings filed with LHI-CL 0.180 0.170 0.175 3614.8 CAB 0.410 0.400 0.405 613.7
Bursa Malaysia. Note: * denotes Ace Market POS-C36 0.170 0.170 0.170 800 ATTA-LA 0.060 0.045 0.060 197.6
TADMAX 0.315 0.280 0.310 13297.3 MRCB-C47 0.045 0.045 0.045 50
DRBHCOMC91 0.120 0.115 0.120 799.6 BJTOTO-CY 0.050 0.050 0.050 2
MAGNUM 2.870 2.790 2.830 1260.6 POS-C36 0.170 0.170 0.170 800
Local event to watch out for today MISC-C24 0.170 0.170 0.170 140.7 GENM-C50 0.055 0.050 0.055 1235.1
CHUAN 0.500 0.435 0.465 396 HSI-H8O 1.220 1.140 1.140 10.3

This table shows stocks that are trading near their year high. This This table shows stocks that are trading near their year low. This
could suggest a build-up in buying momentum, or the possibility that could suggest a build-up in selling momentum, or the possibility that
• Nil profit-taking activities could set in later. bargain hunting could set in later.

Foreign exchange rates

NZ EURO US SWISS BRIT CANADA BRUNEI S’PORE AUST M’SIA CHINA BANGL’H DENM’K UAE INA INDIA JAPAN NORWAY PHIL QATAR SAUDI SWEDEN THAI HK

NZ $ 0.583 0.642 0.638 0.520 0.844 0.885 0.885 0.934 2.6834 4.567 54.072 4.353 2.357 9,021 46.008 69.130 5.761 33.454 2.336 2.407 6.219 19.627 5.031
EURO 1.714 1.100 1.094 0.892 1.446 1.518 1.518 1.602 4.5991 7.828 92.675 7.461 4.040 15,461 78.853 118.482 9.874 57.338 4.004 4.126 10.658 33.638 8.623
US $ 1.558 0.909 0.994 0.811 1.315 1.380 1.380 1.456 4.1810 7.116 84.250 6.783 3.673 14,055 71.685 107.711 8.976 52.125 3.640 3.751 9.689 30.580 7.839
SWISS FR 1.567 0.914 1.006 0.815 1.322 1.388 1.388 1.465 4.2058 7.158 84.750 6.823 3.695 14,139 72.110 108.349 9.029 52.434 3.662 3.773 9.747 30.761 7.886
STERLING £ 1.922 1.121 1.234 1.226 1.622 1.702 1.702 1.796 5.1577 8.778 103.931 8.367 4.531 17,339 88.430 132.872 11.073 64.302 4.490 4.627 11.953 37.724 9.671
CANADA $ 1.185 0.691 0.761 0.756 0.617 1.049 1.049 1.108 3.1802 5.413 64.083 5.159 2.794 10,691 54.526 81.928 6.827 39.648 2.769 2.853 7.370 23.260 5.963
BRUNEI $ 1.129 0.659 0.725 0.721 0.588 0.953 1.000 1.055 3.0304 5.158 61.065 4.916 2.662 10,187 51.957 78.069 6.506 37.780 2.638 2.719 7.023 22.165 5.682
SINGAPORE $ 1.129 0.659 0.725 0.721 0.588 0.953 1.000 1.055 3.0304 5.158 61.065 4.916 2.662 10,187 51.957 78.069 6.506 37.780 2.638 2.719 7.023 22.165 5.682
AUSTRALIA $ 1.070 0.624 0.687 0.683 0.557 0.903 0.948 0.948 2.8715 4.887 57.863 4.659 2.522 9,653 49.233 73.975 6.165 35.799 2.500 2.576 6.655 21.002 5.384
MALAYSIA RM 0.373 0.217 0.239 0.238 0.194 0.314 0.330 0.330 0.348 1.0000 1.702 20.151 1.622 0.878 3,362 17.145 25.762 2.147 12.467 0.871 0.897 2.317 7.314 1.875
100 CHINESE RMB 21.895 12.775 14.053 13.970 11.392 18.475 19.388 19.388 20.461 58.7540 1,184 95.318 51.612 197,512 1,007.355 1,514 126.136 732.493 51.152 52.707 136.162 429.730 110.165
100 BANGLAD’H TAKA 1.849 1.079 1.187 1.180 0.962 1.560 1.638 1.638 1.728 4.9626 8.446 8.051 4.359 16,683 85.085 127.846 10.654 61.869 4.320 4.452 11.501 36.297 9.305
100 DANISH KRONER 22.971 13.403 14.743 14.656 11.951 19.382 20.341 20.341 21.466 61.6400 104.91 1,242 54.148 207,214 1,056.84 1,588 132.33 768.47 53.66 55.30 142.85 450.84 115.58
100 UAE DIRHAM 42.423 24.752 27.227 27.067 22.071 35.796 37.565 37.565 39.644 113.8369 193.75 2,294 184.68 382,684 1,952 2,933 244.39 1,419 99.11 102.12 263.82 832.61 213.45
1000 INA RUPIAH 0.011 0.006 0.007 0.007 0.006 0.009 0.010 0.010 0.010 0.0297 0.051 0.599 0.048 0.026 0.510 0.766 0.064 0.371 0.026 0.027 0.069 0.218 0.056
100 INDIA RUPEE 2.174 1.268 1.395 1.387 1.131 1.834 1.925 1.925 2.031 5.8325 9.927 117.529 9.462 5.124 19,607 150.256 12.521 72.714 5.078 5.232 13.517 42.659 10.936
100 JAPAN YEN 1.447 0.844 0.928 0.923 0.753 1.221 1.281 1.281 1.352 3.8817 6.607 78.219 6.297 3.410 13,049 66.553 8.333 48.394 3.379 3.482 8.996 28.391 7.278
100 NORWEGIAN KRONER 17.359 10.128 11.141 11.075 9.031 14.647 15.371 15.371 16.221 46.5800 79.280 939 75.568 40.918 156,587 798.628 1,200 580.718 40.553 41.786 107.949 340.689 87.339
100 PHILIPPINE PESO 2.989 1.744 1.918 1.907 1.555 2.522 2.647 2.647 2.793 8.0211 13.652 161.631 13.013 7.046 26,964 137.524 206.639 17.220 6.983 7.196 18.589 58.667 15.040
100 QATAR RIYAL 42.805 24.975 27.473 27.311 22.270 36.118 37.903 37.903 40.001 114.8626 195.497 2,315 186.344 100.901 386,132 1,969 2,959 246.592 1,432 103.041 266.194 840.112 215.371
100 SAUDI RIYAL 41.542 24.238 26.662 26.504 21.613 35.052 36.785 36.785 38.820 111.4725 189.728 2,246 180.844 97.923 374,735 1,911 2,872 239.314 1,390 97.049 258.337 815.316 209.014
100 SWEDISH KRONOR 16.080 9.382 10.320 10.260 8.366 13.568 14.239 14.239 15.027 43.1500 73.442 869.503 70.003 37.905 145,057 739.820 1,112 92.636 537.956 37.567 38.709 315.602 80.908
100 THAI BAHT 5.095 2.973 3.270 3.251 2.651 4.299 4.512 4.512 4.761 13.6723 23.270 275.506 22.181 12.010 45,962 234.416 352.225 29.352 170.454 11.903 12.265 31.686 25.636
100 HK$ 19.875 11.596 12.756 12.681 10.340 16.770 17.599 17.599 18.573 53.3325 90.773 1,074.687 86.523 46.850 179,287 914.402 1,374 114.497 664.903 46.432 47.844 123.598 390.077
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.
THU R S DAY S E P T E MB E R 1 2, 20 19 • T HEED G E FINA NCIA L DA ILY
Markets 3 1
FUTURES . MONEY MARKET . COMMODITIES

Index futures Money market

FKLI Long Rolls - KLCI futures EURO Klibor
Index points Open Interest Index points Euro/USD Implied interest rate (%)
1980 90000 18.00 1.58
1,594.00 0.50 4.5
(-0.50) 3.60
(+6.00) (Unch)
1785 68000 4.75 1.44
3.5
1.0995
1590 46000 -8.50 1.30 (-0.0048)

2.5
1395 24000 -21.75 1.16

1200 2000 -35.00 1.02 1.5

Jan 4, 2010 Sept 11, 2019 Jan 4, 2010 Sept 11, 2019 Jan 2, 2006 Sept 11, 2019 Oct 1, 2000 Sept 11, 2019

KLCI futures contracts FBM KLCI futures Euro dips to one-week low Klibor
end higher INDEX AND FUTURES
CONTRACT LAST CHANGE VOLUME
OPEN CHANGE IN
INTEREST OPEN INTEREST
before ECB meeting MONTH SETTLEMENT
PRICE
CHANGE VOLUME OPEN
INTEREST

The FBM KLCI futures contract on Bursa FBMKLCI 1,602.30 6.45 174.8M The euro fell to a one-week low against SEP9 96.40 — — —
OCT9 96.40 — — —
Malaysia Derivatives ended higher SEP 19 1,594.00 6.00 5,655 31,398 1,636 the greenback yesterday, a day before the DEC9 96.40 — — —
OCT 19 1,594.50 6.00 79 223 26
yesterday. European Central Bank (ECB) is expected MAR0 96.40 — — —
DEC 19 1,595.00 5.50 26 552 11
Spot month September 2019 and October MAR 20 1,589.50 5.00 13 160 0
to add further stimulus in a bid to boost the JUN0 96.40 — — —
2019 rose six points each to 1,594 and 1,594.5 TOTAL region’s economy. SEP0 96.40 — — —
5,773 32,333 1,673
DEC0 96.40 — — —
respectively, December 2019 added 5.5 ECB policymakers are leaning towards a MAR1 96.40 — — —
points to 1,595; while March 2020 was five FUTURES
SEP/OCT
ROLL OVER BID
0.5
OFFER
0.0
CLOSE
0.5
package that includes a rate cut, a beefed- JUN1 96.40 — — —
points better at 1,589.5. up pledge to keep rates low for longer and SEP1 96.40 — — —
Turnover, however, declined to 5,773 FUTURES FAIR VALUE compensation for banks over the side-effects DEC1 96.40 — — —
MAR2 96.40 — — —
lots from 8,342 lots on Tuesday, while open CONTRACT
SEP 19
DAYS TO EXPIRY
20
KLIBOR DIVIDEND FAIR VALUE
2.65 14.19 -11.54
of negative rates, five sources familiar with JUN2 96.40 — — —
interest decreased to 32,333 contracts from OCT 19 51 6.97 15.68 -8.71 the discussion said last week. SEP2 96.40 — — —
35,851 previously. ROLL’S FAIR 2.83 Many also favour restarting asset buys, but DEC2 96.40 — — —
The benchmark KLCI ended 6.45 points opposition from some northern European MAR3 96.40 — — —
JUN3 96.40 — — —
higher at 1,602.3. countries is complicating this issue.
SEP3 96.40 — — —
Southeast Asian stock markets rose on The euro was last down 0.43% on the DEC3 96.40 — — —
yesterday as China’s announcement of day at US$1.0995. The Japanese yen was the MAR4 96.40 — — —
exemptions on some US products from weakest since Aug 1 as optimism over US- JAN-00 — — — —
duties buoyed hopes of a thaw in a trade Around the region, MSCI’s Asia ex-Japan China trade talks boosted risk sentiment and JAN-00 — — — —
TOTAL 0 0
war that has bruised global markets. stock index was firmer by 0.72%. — Agencies reduced demand for safe havens. — Reuters

Commodities 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 vs Soyoil Crude Oil Gold

CPO RM/tonne Open Interest CPO RM/tonne Soyoil US$/Ibs US$/bbl US$/troy oz
4200 6400 0.700 155.00 1980
200000
2,207 1,494.00
(-15) (+1.30)
3450 5075 1660
152500 0.2853 0.525 121.25
(RM2,628/tonne)
2700 3750
58.14 1340
105000 0.350 87.50 (+0.74)

1950 57500 2425 0.175 53.75 1020

2,207
1200 10000
700
1100 (-15) 0.000 20.00
Jan 6, 2008 Sept 11, 2019 Apr 10, 2007 Sept 11, 2019 Aug 31, 2008 Sept 11, 2019
Jan 6, 2008 Sept 11, 2019

Palm oil falls from one- CPO futures Oil prices gain after US Commodities

week high as exports wane CONTRACT

SEP-19
LAST
2,110
CHANGE
-23
VOLUME
110
OPEN CHANGE IN
INTEREST OPEN INTEREST
1,530 -26
inventories fall AGRICULTURE
CRUDE PALM OIL
UNIT
RM/TON
EXCHANGE
MDEX
LAST PRICE CHANGE
2,207 -15
RUBBER SEN/KG MRB 552.50 -1.00
OCT-19 2,167 -18 1,165 8,794 -869
Malaysian palm oil futures fell from a one- Oil prices rose yesterday after a reported CORN USC/BSH CBOT 349.75 1.25
NOV-19 2,207 -15 24,580 55,207 700
SOYBEANS USC/BSH CBOT 859.25 14.25
week high during the second half of trade DEC-19 2,243 -14 8,658 30,626 1,840 sharp drop in US crude stocks and Opec
WHEAT USC/BSH CBOT 484.50 10.00
yesterday, weighed by cargo surveyor data JAN-20 2,273 -17 7,995 38,340 800 member Iraq said the producer group would LIVE CATTLE USC/IBS CME 101.23 1.75
showing weaker Malaysian exports during CPO FUTURES CPO/SOYOIL discuss deepening output cuts amid ongoing COCOA US$/TON NYBOT 2,287 UNCH
the first ten days of September. INDICATIVE ROLL-OVER FUTURES BASIS (USD) demand concerns. COFFEE USC/IBS NYBOT 103.10 1.50
SEP/OCT -57 CURRENT -97.85
The benchmark palm oil contract for SEP/NOV -97 3 MONTHS AVERAGE -112.20
Brent crude gained 68 US cents or 1% SUGAR USC/IBS NYBOT 11.92 0.03
November delivery on Bursa Malaysia SEP/DEC to US$63.06 a barrel, while US West Texas COTTON USC/IBS NYC 60.10 0.11
-133 6 MONTHS AVERAGE -113.23
Derivatives lost 0.7% at RM2,207 per tonne at OCT/NOV -40 Intermediate crude rose 74 US cents or 1% METAL & PRECIOUS METALS
TIN US$/TON KLTM 17,150 50
the close of trade around 1030 GMT, snapping SGS & ITS EXPORT ESTIMATES (TONNES) to US$58.14 a barrel. COPPER USC/IBS CMX 2.6150 -0.0075
two earlier sessions of gains. Earlier in the SHIPMENT DAYS JUN’19 JUL’19 AUG’19 Oil prices have risen more than 7% this GOLD US$/TROY OZ CMX 1,494.00 1.30
day, the market rose as much as 0.6% to 1 - 10TH DAYS 377/377 366/368 476/512 month, supported by declines in global PLATINUM US$/TROY OZ NYMEX 940.20 3.60
1 - 15TH DAYS 656/637 658/656 752/765
RM2,236, its strongest level since Sept 3. inventories and signs of an easing in trade PALLADIUM US$/TROY OZ NYMEX 1,553.20 -0.90
“The market was reacting towards the 11 -- 20TH DAYS
25TH DAYS
898/913
1,174/1,174
926/909 984/1028
1,151/1,124 1,379/1,365
tensions between the US and China, the world’s SILVER USC/TROY OZ CMX 18.09 0.00
weaker export numbers,” said a futures trader, FULL MONTH two largest economies and energy consumers. ALUMINIUM RMB/TON SHF 14,415 35
1,372/1,358 1,438/1,380 1,662/1,645
ZINC RMB/TON SHF 19,265 240
referring to cargo surveyor data showing MALAYSIAN PALM OIL BOARD Prices rose this week after Prince
Malaysian palm oil exports. MAY’19 JUN’19 JUL’19 AUG’19 Abdulaziz Salman, Saudi Arabia’s new energy ENERGY
LIGHT CRUDE OIL US$/BBL NYMEX 58.14 0.74
Societe Generale de Surveillance reported PRODUCTION 1,671 1,519 1,738 1,822 minister, said oil policy would not change HEATING OIL USC/GAL NYMEX 1.9490 0.0167
yesterday that Malaysian palm oil shipments EXPORT
STOCKS
1,712
2,447
1,383
2,424
1,485
2,391
1,733
2,252
and said an Opec deal with Russia and other NATURAL GAS US$/MMBTU NYMEX 2.587 -0.033
fell 29% during Sept 1 to Sept 10 versus the producers to cut output by 1.2 million barrels BRENT CRUDE US$/BBL ICE 63.06 0.68
MPOB palm oil physical
corresponding period in August. per day would be maintained. — Reuters GAS OIL US$/TON ICE 596.25 -4.50
In terms of palm oil’s demand and supply (IN RM/TON) SEP’19 OCT’19 NOV’19

in Malaysia, another trader had earlier said CPO DELD

PK EX-MILL
2,134.50 2,160.00 NO TRADE
1,220.00 NO TRADE NO TRADE
Centrifuged Latex Rubber - M’sia SMR 20
that inventories are expected to rebuild as CPKO DELD 2,381.00 NO TRADE NO TRADE Sen/Kg
Sen/Kg
production increases in line with seasonal RBD P.OIL FOB NO TRADE NO TRADE NO TRADE 1100 1900
trend, while exports would see a slowdown. RBD P.OLEIN FOB NO TRADE NO TRADE NO TRADE
Palm oil inventories in Malaysia extended RBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE 900 440.50 1475 552.50
(-0.50)
falls to a 13-month low at the end of August MPOB FFB REF PRICE (MILL GATE PRICE) (-1.00)

as strong export gains outpaced production REGION GRADE A GRADE B GRADE C 700 1050
OER (RM/TON) OER(RM/TON) OER (RM/TON)
increases, official data showed on Tuesday. NORTH 20.00% 422 19.00% 401 18.00% 381
Meanwhile, production rose 4.6% from SOUTH 20.00% 429 19.00% 408 18.00% 387
500 625
the previous month to 1.82 million tonnes CENTRAL 20.00% 427 19.00% 406 18.00% 385
in August, while exports jumped by 16.4% EAST COAST 20.00% 423 19.00% 403 18.00% 382 300 200

last month to 1.73 million tonnes. — Reuters SABAH

SARAWAK
22.00% 412
22.00% 416
21.00% 393
21.00% 397
20.00% 375
20.00% 378
Jan 7, 2007 Sept 11, 2019 Jan 7, 2007 Sept 11, 2019
 Markets
32 T HUR SDAY SEP TEM B ER 1 2 , 2 0 1 9 • 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 1
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 0
G L O BA L M A R K E T S PA G E 2 9
RESEARCH: TAI TS [tai@bizedge.com] M A I N M A R K E T . A C E M A R K E T L I ST I N G PA G E 2 5

KLCI 1,602.30 6.45 FBM ACE 4,505.73 26.24 FTSTI 3,204.52 48.81 NIKKEI 21,597.76 205.66 HANG SENG 27,159.06 475.38 DOW JONES 26.909.43 73.92

Be sure you put your feet in the right place, Market movers
then stand firm. — Abraham Lincoln
Daily top 20 active stocks
UNUSUAL MARKET ACTIVITIES TURNOVER CHANGE CHANGE PRICE PE DIVIDEND
FBM KLCI & KLCI futures intraday (‘000) (RM) (%) (RM) RATIO YIELD (%)
STOCK VOLUME CHANGE CHANGE CLOSE HIGH LOW MTRONIC 157,256.7 -0.015 -21.43 0.055 — 0.00
('000) (%) (RM) (RM) (RM) (RM) GPACKET-WB 87,929.5 0.005 2.08 0.245 — 0.00
Index point
1603.0 1,602.30 MTRONIC 157,257 -21.43 -0.015 0.055 0.075 0.055 ARMADA 81,909.6 UNCH UNCH 0.285 — 1.07
1601.5 (+6.45) GPACKET-WB 87,930 2.08 0.005 0.245 0.250 0.240 HSI-H6S 71,991.6 -0.005 -3.13 0.155 — 0.00
1600.0 HSI-H6S 71,992 -26.19 -0.055 0.155 0.195 0.150 MTRONIC-WA 53,371.5 UNCH UNCH 0.015 — 0.00
1598.5 KL Composite Index MTRONIC-WA 53,372 0.00 0.000 0.015 0.020 0.010 MNC 47,040.8 -0.010 -10.00 0.090 — 0.00
1597.0 OCK-WA 44,313 35.29 0.030 0.115 0.120 0.085 VSOLAR 46,604.5 -0.005 -4.35 0.110 — 0.00
HSI-H8E 44,280 -16.92 -0.055 0.270 0.320 0.265 OCK-WA 44,313.1 0.030 35.29 0.115 — 0.00
1595.5
1594.0 1,594.00 EDUSPEC 42,088 0.00 0.000 0.055 0.060 0.055 HSI-H8E 44,280.0 UNCH UNCH 0.270 — 0.00
(+6.00) HSI-H8B 37,016 -18.92 -0.070 0.300 0.360 0.295 EDUSPEC 42,088.4 UNCH UNCH 0.055 — 0.00
1592.5 KLCI futures HSI-H6Q 36,725 -46.67 -0.070 0.080 0.140 0.080 HSI-H8B 37,015.6 -0.015 -4.76 0.300 — 0.00
1591.0 HSI-C7E 35,152 22.73 0.050 0.270 0.280 0.220 HSI-H6Q 36,724.6 -0.010 -11.11 0.080 — 0.00
1589.5 OCK 28,662 6.56 0.040 0.650 0.660 0.610 HSI-C7E 35,151.7 0.010 3.85 0.270 — 0.00
1588.0 HSI-C7F 24,914 21.98 0.100 0.555 0.555 0.465 SAPNRG 34,383.3 UNCH UNCH 0.280 — 2.44
8:45 9:30 10:30 11:30 12:45 14:30 15:30 16:30 17:15
HSI-H6T 21,635 -21.50 -0.115 0.420 0.515 0.410 OCK 28,661.9 0.040 6.56 0.650 19.55 2.22
SUPERMX 18,509 4.61 0.070 1.590 1.620 1.520 DAYANG 27,583.7 0.050 3.29 1.570 7.58 0.00
Daily FBM KLCI APFT 18,204 0.00 0.000 0.010 0.010 0.010 NETX 25,784.1 -0.005 -33.33 0.010 — 0.00
SAPNRG-WA 16,539 0.00 0.000 0.115 0.120 0.110 HSI-C7F 24,913.6 0.015 2.78 0.555 — 0.00
KNM 23,003.7 0.005 1.35 0.375 — 0.00
KL Composite Index Moving average - 20-day Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares
HSI-H6T 21,635.1 -0.025 -5.62 0.420 — 0.00
2030.0 traded for a particular counter on the previous trading day is more than triple the average volume for the
1,602.30
(+6.45) 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. Top gainers and losers (ranked by RM)
1727.5

1,599.03 KLCI ends 0.4% up ahead UP

CLOSE
CHANGE
(RM)
DOWN
CLOSE
CHANGE
(RM)

of BNM OPR decision

1425.0 PETDAG 23.880 1.680 CARLSBG 25.300 -0.420
MAGNI 5.780 0.380 DLADY 62.000 -0.400
HLFG 16.640 0.340 HSI-H8A 0.500 -0.300
1122.5
BKAWAN 15.700 0.300 HSI-H8H 0.350 -0.300
KUALA LUMPUR: The FBM KLCI finished up 6.45 points PCHEM 7.230 0.230 HSI-H6Z 0.650 -0.250
820.0 or 0.4% to 1,602.3 yesterday at its intraday high amid HAPSENG 9.890 0.190 HSI-H8G 0.915 -0.175
Jan 2, 2008 Sept 11, 2019
ebbing US-China trade war concerns and as investors DELEUM 1.000 0.175 CHINTEK 6.030 -0.170
looked ahead to Bank Negara Malaysia’s (BNM) interest HSI-C7R 1.060 0.125 HSI-H8L 1.290 -0.160
900 rate decision today. KLK 23.780 0.120 HSI-H8P 0.145 -0.155
HEIM 24.600 0.120 HSI-H8D 1.150 -0.150
“As it is, sentiments on global indices are calmer as the
600 GAMUDA 3.620 0.120 HSI-H6R 0.390 -0.130
US-China trade war is showing some signs of ebbing that BAT 18.800 0.100 HSI-H8C 0.650 -0.130
300 is also giving some leeway for equities to head higher,”
Malacca Securities Sdn Bhd wrote in a note yesterday. Top gainers and losers (ranked by%age)
0 Reuters reported that bond yields climbed and stock

 
Volume (’mil) markets held firm yesterday, as hopes of easing US-China UP CHANGE DOWN CHANGE
CLOSE (%) CLOSE (%)
tensions and diminished risk of a no-deal Brexit prompted
FBM KLCI futures buying of out-of-favour value stocks before key central HSI-C5R 0.010 100.00 INARI-C26 0.005 -83.33
HSI-H6O 0.010 100.00 TM-C41 0.030 -76.00
CONTRACT SETTLEMENT CHANGE HIGH LOW
bank meetings. It was reported that oil prices also firmed,
MAYBANKC52 0.010 100.00 HSI-H6P 0.015 -57.14
SEP 19 1,594.00 6.00 1,595.00 1,589.00 underpinned by a big drop in US crude stockpiles, after HSI-C7B 0.035 75.00 HSI-H8P 0.145 -51.67
OCT 19 1,594.50 6.00 1,595.00 1,590.50 slipping the previous day. SUPERMX-C67 0.035 75.00 MRCB-C47 0.045 -50.00
DEC 19 1,595.00 5.50 1,595.00 1,590.50
BNM’s interest rate decision today will also be closely HSI-C5Q 0.075 66.67 BURSA-C23 0.005 -50.00
watched. Reuters, citing its poll, reported that BNM is HSI-C5T 0.050 66.67 POS-C33 0.005 -50.00
FBM KLCI sensitivity* expected to keep its benchmark interest rate unchanged at MRCB-C41 0.040 60.00 PCHEM-C31 0.005 -50.00
TRIVE 0.015 50.00 PDZ-WB 0.005 -50.00
KLCI CHANGE CLOSE VOLUME a policy review today, as it keeps room for potential easing
POINTS (RM) (RM) ('000) EAH 0.015 50.00 AXIATA-C42 0.055 -50.00
PETRONAS CHEMICAL 2.89 0.230 7.230 6986.4
later should global growth fall sharply. HSI-C5V 0.015 50.00 KERJAYA-CK 0.015 -50.00
PETRONAS DAGANG 2.62 1.680 23.880 508.1 “Nine out of 11 economists polled saw BNM keeping MISC-C23 0.090 50.00 HSBC-C10 0.065 -48.00
HAP SENG CONSOLIDATED 0.74 0.190 9.890 376.6 its overnight policy rate (OPR) at 3%, after the country
HONG LEONG FINANCIAL 0.61 0.340 16.640 190.4 reported stronger-than-expected second quarter growth Top gainers and losers - warrants (ranked by%age)
MAYBANK 0.53 0.030 8.890 11228.9 and a recovery in exports. The other two in the poll expect
CIMB GROUP 0.46 0.030 5.030 8521.3 UP CHANGE DOWN CHANGE
SIME DARBY PLANTATION 0.43 0.040 4.930 3705.0
the central bank to cut its key rate by 25 basis points to CLOSE (%) CLOSE (%)
IHH HEALTHCARE 0.41 0.030 5.800 3041.8 2.75%,” Reuters said. — by Tan Xue Ying HSI-C5R 0.010 100.00 INARI-C26 0.005 -83.33
HONG LEONG BANK 0.27 0.080 16.400 825.0
World equity indices HSI-H6O 0.010 100.00 TM-C41 0.030 -76.00
K.LUMPUR KEPONG 0.20 0.120 23.780 414.9 MAYBANKC52 0.010 100.00 HSI-H6P 0.015 -57.14
PETRONAS GAS 0.19 0.060 16.320 809.1 CLOSE CHANGE CLOSE CHANGE HSI-C7B 0.035 75.00 HSI-H8P 0.145 -51.67
MALAYSIA AIRPORT -0.18 -0.070 8.500 3093.2
DOW JONES 26,909.43 73.92 INDONESIA 6,381.95 45.28 SUPERMX-C67 0.035 75.00 MRCB-C47 0.045 -50.00
SIME DARBY -0.21 -0.020 2.320 7896.5
S&P 500 2,979.39 0.96 JAPAN 21,597.76 205.66 HSI-C5Q 0.075 66.67 BURSA-C23 0.005 -50.00
AMMB -0.24 -0.050 4.130 2070.4
NASDAQ 100 7,814.74 -17.66 KOREA 2,049.20 17.12 HSI-C5T 0.050 66.67 POS-C33 0.005 -50.00
MAXIS -0.37 -0.030 5.600 2608.0
FTSE 100 7,267.95 32.14 PHILIPPINES 7,967.90 38.42 MRCB-C41 0.040 60.00 PCHEM-C31 0.005 -50.00
TENAGA NASIONAL -0.54 -0.060 13.940 3166.5
AUSTRALIA 6,638.00 23.90 SINGAPORE 3,204.52 48.81 HSI-C5V 0.015 50.00 PDZ-WB 0.005 -50.00
SUB-TOTAL 7.82
CHINA 3,008.81 -12.39 TAIWAN 10,790.35 36.77 MISC-C23 0.090 50.00 AXIATA-C42 0.055 -50.00
OTHERS -1.37
HONG KONG 27,159.06 475.38 THAILAND 1,674.03 8.10 HARTA-C22 0.015 50.00 KERJAYA-CK 0.015 -50.00
GRAND TOTAL 6.45
INDIA 37,270.82 125.37 VIETNAM 969.31 -0.95 KSTAR-WA 0.015 50.00 HSBC-C10 0.065 -48.00
* How stock price changes affected the index on the previous trading day

Published by The Edge Communications Sdn Bhd (266980-X) Level 3, Menara KLK, No 1, Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia.
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