Bursa Malaysia Daily Market Report - 12 April

Transcription

1. Thursday , 12 April, 2018 TA RESEARCH’S ‘DAILY COMPILED REPORTS’ For Internal Circulation Only N ew s 1. D ai l y M arke t C om men t a ry 2. D ai l y B ri ef Fu nd a me n tal Rep o r ts 1 . M a la ys i a n Ec o n o m y : M o de ra t e O u tp u t in F e b ru a ry 2 0 1 8 2 . S a p u r a En e rg y Bh d : SK 4 0 8 Ph a se 1 G e t s F o rm a l G re e n L ig h t Te ch n ic al R ep o rt s 1. D ai l y Te ch n ic a l St o ck W at ch , D ai l y Mon e y F lo w , D a il y St oc k Sc reen ( Loc al ) 2. D ai l y For ei gn T ech n i c al St o ck W a t ch ( A US ) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my
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Daily Market Commentary Thursday , 12 April 2018 TA Research, e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (11.04.2018) Volume (mil) +/-chg (RMmn) Main Market 2,909.6 Warrants 778.8 ACE Market 958.2 Bond 5.5 ETF 0.0 LEAP 0.0 Total 4,652.1 Off Market 255.9 559.2 107.2 250.2 2.0 -0.1 0.0 2,961.8 84.6 162.1 1.4 0.0 0.0 3,209.9 172.7 77.2 Value Value/ +/-chg Volume Up Down 467.1 -8.1 40.9 0.4 -0.1 0.0 36.3 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP April Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA (mn) 414 242 75 4 1 0 736 209 75 36 2 0 0 322 % chg % YTD chg 1,869.89 13,138.09 15,049.06 1,867.50 8.91 92.54 211.56 11.50 0.48 0.71 1.43 0.62 4.07 1.51 -11.74 4.62 24,189.45 7,069.03 7,257.14 21,687.10 2,444.22 30,897.71 3,479.76 1,763.22 6,360.93 3,208.08 1,850.97 5,828.68 -218.55 -25.27 -9.61 -107.22 -6.52 168.97 13.38 2.27 35.11 17.76 9.75 -28.28 -0.90 -0.36 -0.13 -0.49 -0.27 0.55 0.39 0.13 0.56 0.56 0.53 -0.48 -2.14 2.40 -5.60 -4.73 -0.94 3.27 2.26 0.54 0.08 -3.00 -2.55 -3.90 (RM) 0.14 0.34 0.44 4.77 Exchange Rate USD/MYR 3.8745 0.003 USD/JPY 106.81 0.040 EUR/USD 1.237 0.0047 Counter MAYBANK PCHEM CIMB IHH MAXIS HLBANK NESTLE GENTING IOICORP GENM Mkt Cap. Chg (RM’mn) (RM) 115,564 68,080 66,424 49,932 45,848 38,294 35,222 34,637 29,005 28,237 0.12 0.06 0.16 0.03 0.03 0.04 0.10 0.10 0.01 0.04 News Bites Vol. (mn) 26.41 10.31 20.63 2.75 0.58 0.40 0.08 2.55 0.59 8.85 Commodities Futures Palm Oil (RM/mt) 2,434.00 -23.00 Crude Oil ($/Barrel) 66.82 3.51 Gold ($/tr.oz.) 1,356.50 16.10 Important Dates The recent strong buying momentum and extreme positive market breadth, while bullish, should attract selling and profit-taking today to check shortterm gains. Hence, a further rise on the index towards the 2 Feb peak of 1,880 should encourage profit-taking and restrict near-term gains, while the record high of 1,896 from July 2014 will act as next significant upside hurdle. Immediate supports stays at the 30 and 50-day moving averages at 1,853 and 1,851 respectively, followed by the lower Bollinger band (1,827) and last Wednesday's low of 1,811. Hook-up momentum indicators on Ekovest support rebound upside towards the 38.2%FR (90sen), with a convincing breakout to aim for the 50%FR (RM1.02) and 61.8%FR (RM1.14) ahead. Key chart supports are at 81sen and the 23.6%FR (76sen). DMI buy signal on Malton also support rebound upside towards 88sen, while a confirmed breakout should target the 23.6%FR (96sen), 200-day ma (RM1.06) and 38.2%FR (RM1.14) going forward. Crucial supports are at 70sen and the 3/1/17 pivot low (65sen). Top 10 KLCI Movers Based on Mkt Cap. Off Market TMCLIFE-WB 186.7 @ ACME 41.9 @ CUSCAPI 20.0 @ PMETAL 5.5 @ 1.02 0.11 0.17 0.26 1.65 0.00 0.69 0.30 The local benchmark climbed a third session Wednesday cheered by optimism over China's plans to liberalize the economy and protect intellectual property, and positive anticipation of GE14. The KLCI rose another 8.91 points to close at 1,869.89, off the opening low of 1,863.30 and high of 1,871.73, as gainers led losers 736 to 322 on more robust turnover of 4.65bn shares worthRM3.21bn. • Sapura Energy Berhad and its partners, PETRONAS Carigali and Sarawak Shell have taken Final Investment Decision to develop the Gorek, Larak and Bakong fields as Phase 1 in the SK408 Production Sharing Contract. • MyHSR Corp Sdn Bhd has attracted 6 potential bidders for the Kuala Lumpur-Singapore High-Speed Rail project's AssetsCo tender. • Sources said UMW Holdings Bhd is looking at how to improve its offer to MedBumikar Mara Sdn Bhd, without increasing the offer price. • Datasonic Group Bhd has proposed to undertake an issuance of 675.0mn free warrants on the basis of 1 warrant for every 2 existing ordinary shares held on an entitlement date to be determined later. • Benalec Holdings Bhd has proposed to undertake a private placement that is expected to raise as much as RM31.4mn. • Fitters Diversified Bhd's subsidiary Molecor (SEA) Sdn Bhd will supply its brand of Hypro PVC-O pipes to Felda Water Sdn Bhd's RM57.9mn project in Pahang. • Public Bank Bhd has obtained the approval of the Securities Commission to set up an Additional Tier 1 capital securities programme of up to RM10.0bn in nominal value. • IHH Healthcare Bhd is preparing to formally approach India's Fortis Healthcare Ltd with an offer for the hospital operator that will put it in competition with a TPG-backed consortium, people with knowledge of the matter said. • CCK Consolidated Holdings Bhd has proposed to split its shares on a 1 to 2 basis, followed by a bonus issuance of warrants on the basis of 1 free warrant for every 2 split shares held. • A unit of property developer Encorp Bhd has filed a lawsuit against its contractor to claim for liquidated damages of RM24.6mn because of a project delay. • Multi Sports Holdings Ltd had submitted a request to Bursa Malaysia Securities Bhd for further extension of time up to Wednesday, April 25, 2018 to allow the group to issue all the outstanding financial reports. • The Employees Provident Fund will decide soon on the acquisition of stake or stakes of foreign insurers with Malaysian operations that are compelled by regulation to sell down their stakes. • Malaysia's Industrial Production Index rose by 3.0% YoY in February 2018, lower than consensus estimates of 3.3% YoY. • China's consumer price index climbed 2.1% in March, versus a forecast of 2.6% and 2.9% in February. • Federal Reserve officials at their meeting last month expressed greater confidence inflation would rise to their 2% target over the coming year. LPI - 1:5 Bonus Issue - BI of up to 66.4m shares. 1 bonus share for every 5 existing shares held. Entitlement Date: 11/04/2018. LISTING ON: 12/04/2018. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan, Head of Research MENARA TA ONE, 22 JALAN for TA SECURITIES HOLDINGS BERHAD (14948-M) A PARTICIPATING ORGANISATION OF BURSA MALAYSIA SECURITIES BHD P RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL : 603 - 2072 1277. FAX : 603 - 2032 5048 www.ta.com.my
3. Thursday , April 12, 2018 FBMKLCI: 1,869.89 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Brief Market View, News in Brief: Corporate, Economy, and Share Buybacks Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my M a r k e t V i e w Expect Profit-Taking to Stall Upside The local benchmark climbed a third session Wednesday cheered by optimism over China’s plans to liberalize the economy and protect intellectual property, and positive anticipation of GE14. The KLCI rose another 8.91 points to close at 1,869.89, off the opening low of 1,863.30 and high of 1,871.73, as gainers led losers 736 to 322 on more robust turnover of 4.65bn shares worthRM3.21bn. Further Rise to 1,880 Should Encourage Profit-Taking The recent strong buying momentum and extreme positive market breadth, while bullish, should attract selling and profit-taking today to check short-term gains. Hence, a further rise on the index towards the 2 Feb peak of 1,880 should encourage profit-taking and restrict near-term gains, while the record high of 1,896 from July 2014 will act as next significant upside hurdle. Immediate supports stays at the 30 and 50-day moving averages at 1,853 and 1,851 respectively, followed by the lower Bollinger band (1,827) and last Wednesday’s low of 1,811. Bargain Ekovest & Malton Hook-up momentum indicators on Ekovest support rebound upside towards the 38.2%FR (90sen), with a convincing breakout to aim for the 50%FR (RM1.02) and 61.8%FR (RM1.14) ahead. Key chart supports are at 81sen and the 23.6%FR (76sen). DMI buy signal on Malton also support rebound upside towards 88sen, while a confirmed breakout should target the 23.6%FR (96sen), 200-day ma (RM1.06) and 38.2%FR (RM1.14) going forward. Crucial supports are at 70sen and the 3/1/17 pivot low (65sen). Asian Markets Rally Fades as Trade Tensions Not Over Yet Global stocks mostly cooled Wednesday as caution again crept into markets over strained U.S-China trade ties and escalating tensions in Syria. Chinese President Xi Jinping and U.S. President Donald Trump both struck conciliatory tones on Tuesday, which analysts hoped could open the door for negotiations to avert a trade war. But one report said early talk have already broken down. Adding to market jitters, the United States and its Western allies are reportedly discussing possible military action over a suspected poison gas attack in Syria, a move which could provoke a response from Russia. Japanese stocks fell for the first time in three days on Wednesday following a strong rally the previous day, but index-heavy SoftBank rose after sources said that Sprint is in new talks to merge with T-Mobile. The Nikkei ended 0.5 percent lower to 21,687.10. Across the Korean Strait, the Kospi finished lower by 0.27 percent at 2,444.22 as gains seen earlier in the day fizzled out. Over in Sydney, the S&P/ASX 200 shed 0.48 percent to finish at 5,828.70 as most sub-indexes closed in the red. Meanwhile, China stocks ended higher as the market welcomed Beijing’s pledge to further open the country’s financial sector to foreign investors. The Shanghai Composite Index gained 0.6 percent to 3,208.08. Page 1 of 8
4. 12-Apr-18 Wall Street Ends Lower as Geopolitical Tensions Move Center Stage U .S. stocks edged lower Wednesday, reversing a recent rebound, as possible U.S. military action against Syria stoked investor concerns about geopolitical risk to the American economy and minutes from the Federal Open Market Committee sparked worries about a more hawkish view on interest-rate increases. Major indices came under pressure in early trade after tweets from President Donald Trump suggested he was preparing for a military strike in Syria and underlined a tense relationship with Russia. Talk of a strike has been simmering since a suspected Assad-led chemical-weapons attack killed civilians in the rebel-held town of Douma over the weekend. But it could draw the U.S. into a conflict with Russia, in particular, which backs the Assad regime. The major Wall Street indices edged even lower after minutes from the Federal Open Market Committee showed concern among a few of its members that rising inflation might require a faster pace of interest rate hikes than anticipated. Investors have been tracking a rise in oil prices, as some think conflicts in the Middle East could hinder output and further support prices. U.S. crude oil climbed 2 percent to USD66.82 a barrel, its highest level since December 2014, and boosted shares of energy firms for the third straight session. The Dow Jones Industrial Average fell 218.55 points, or 0.9 percent, to 24,189.45, the S&P 500 lost 14.68 points, or 0.55 percent, to 2,642.19 and the Nasdaq Composite dropped 25.27 points, or 0.36 percent, to 7,069.03. Page 2 of 8
5. 12-Apr-18 News In Brief Corporate The Employees Provident Fund will decide soon on the acquisition of stake or stakes of foreign insurers with Malaysian operations that are compelled by regulation to sell down their stakes . (The Star) MyHSR Corp Sdn Bhd has attracted 6 potential bidders for the Kuala LumpurSingapore High-Speed Rail project’s AssetsCo tender. (The Edge) Sources said UMW Holdings Bhd is looking at how to improve its offer to MedBumikar Mara Sdn Bhd, the controlling shareholder of MBM Resources Bhd that has a direct 20% stake and an indirect 2.55% interest in Perusahaan Otomobil Kedua Sdn Bhd without increasing the offer price. (The Star) Proton Holdings Bhd is set to launch a new sport utility vehicle, the first product jointly developed with its partner, Zhejiang Geely Holding Group Co Ltd. (The Star) Datasonic Group Bhd has proposed to undertake an issuance of 675.0mn free warrants on the basis of 1 warrant for every 2 existing ordinary shares held on an entitlement date to be determined later. (Bursa Malaysia) Benalec Holdings Bhd has proposed to undertake a private placement that is expected to raise as much as RM31.4mn. Proceeds from the exercise will be used to fund on-going and future land and on-going reclamation projects. (Bursa Malaysia) Fitters Diversified Bhd's subsidiary Molecor (SEA) Sdn Bhd will supply its brand of Hypro PVC-O pipes to Felda Water Sdn Bhd’s RM57.9mn project in Pahang. (The Star) Public Bank Bhd has obtained the approval of the Securities Commission to set up an Additional Tier 1 capital securities (AT1CS) programme of up to RM10.0bn in nominal value. The AT1CS which will be issued from time to time under the AT1CS Programme will qualify as Additional Tier 1 capital for the computation of the group’s regulatory capital. (Bursa Malaysia) Sapura Energy Bhd and its partners, PETRONAS Carigali Sdn Bhd and Sarawak Shell Bhd, have taken the final investment decision to develop the Gorek, Larak and Bakong fields as phase 1 in the SK408 Production Sharing Contract. (Bursa Malaysia) IHH Healthcare Bhd is preparing to formally approach India’s Fortis Healthcare Ltd with an offer for the hospital operator that will put it in competition with a TPG-backed consortium, people with knowledge of the matter said. (The Star) CCK Consolidated Holdings Bhd has proposed to split its shares on a 1 to 2 basis, followed by a bonus issuance of warrants on the basis of 1 free warrant for every 2 split shares held. (The Edge) Acme Holdings Bhd saw 41.9mn shares, representing an 18.2% stake in the group, traded off-market on Wednesday, April 11, 2018 for a total of RM14.3mn. (The Edge) A unit of property developer Encorp Bhd has filed a lawsuit against its contractor to claim for liquidated damages of RM24.6mn because of a project delay. (The Edge) Page 3 of 8
6. 12-Apr-18 Multi Sports Holdings Ltd had submitted a request to Bursa Malaysia Securities Bhd for further extension of time up to Wednesday , April 25, 2018 to allow the group to issue all the outstanding financial reports. (Bursa Malaysia) Cypark Resources Bhd has signed a memorandum of understanding with TESVOLT agent for Malaysia to collaborate and to co-operate in energy storage projects and to jointly expand their business opportunities in the area of renewable energy in Malaysia. (Bursa Malaysia) Plantation company Harn Len Corp Bhd was publicly reprimanded by Bursa Malaysia Securities Bhd for failing to account for adjustments in the group’s financial report for the fourth quarter year ended Dec 31, 2016. (The Edge) Eduspec Holdings Bhd's independent and non-executive chairman Datuk Wee Hoe Soon @ Gooi Hoe Soon has resigned, after holding the position for only seven months since September last year. (The Edge) Suria Capital Holdings Bhd, a company controlled by the Sabah state government, announced that it has not finalised the fundraising method for the alienation of a 28.9-acre piece of land located at Kota Kinabalu Port in Sabah, which it intends to develop into an international cruise terminal and related realty. (The Edge) Chemical Company of Malaysia Bhd (CCM) has entered into sale and purchase agreement of trademarks (SPA) and trademarks licence agreement (TLA) with CCM Duopharma Biotech Bhd (CCMD). Pursuant to the SPA, CCM will dispose of a total of 73 trademarks relating to pharmaceuticals products which are currently registered under CCM to CCMD for a purchase consideration of RM73. As for the TLA, CCM will be licensing its corporate mark "CCM" to CCMD for a licence fee of RM250,000 a year for two years beginning January 1 this year until December 31, 2019. (Bernama) Page 4 of 8
7. 12-Apr-18 N e w s I n B r i e f Economy Asia February Industrial Output Below Survey as Mining Slips Malaysia 's industrial output, as measured by the industrial production index (IPI) grew at a slower pace of 3% in February, which was below a Bloomberg survey of 3.3% increase. The Statistics Department said the expansion in February was supported by the positive growth in the manufacturing index (4.7%) and the electricity index (2.8%). However, the mining index recorded a contraction during the month (-1.6%). The IPI in January 2018 was revised to 5.4%. On a yearly basis, manufacturing sector output grew by 4.7% in February 2018 after a strong growth of 6.9% in January. The main sub-sectors which recorded increases in February 2018 were: petroleum, chemicals, rubber and plastics products (7.0%); electrical and electronic equipment products (5.4%); and non-metallic mineral products, basic metal and fabricated metal products (5.0%). (The Star) Malaysia Fuel Prices Unchanged The retail fuel prices remained unchanged for the next one week. RON95 petrol remained at RM2.20 per litre while RON97 petrol retailed at RM2.47 per litre. Meanwhile, diesel priced at RM2.18. The Domestic Trade, Co-operatives and Consumerism Ministry (KPDNKK) said the new prices will take effect from 12.01am tonight. It will be in effect between April 12 and April 18. The weekly fuel pricing mechanism came into effect in April last year. Petrol and diesel prices had been managed via monthly float system since Dec 1, 2014. (New Straits Times) China Pledges to Widen Access to Financial Market China laid out a clearer timetable for opening its financial sector to more foreign investment by the end of 2018, as Beijing looks to fend off growing criticism from the United States and others that it unfairly limits competition. People's Bank of China (PBOC) Governor Yi Gang said that China will allow foreign firms to compete on an equal footing with domestic companies in the sector. Though the specific details offered were mostly incremental and repeated previous pledges, China for the first time said it would implement a number of the measures by the end of this year, with some steps promised to be put in place as early as June. They include allowing foreign firms to invest in trust companies, financial leasing, auto finance and consumer finance, plans that were announced last year. The PBOC also confirmed it wants to set up a planned trading link between its stock markets and London by end-2018. Foreign businesses and China's trading partners have long complained about a lack of implementation of reforms announced years earlier, and that outside firms continue to face unofficial restrictions even after some sectors have ostensibly been opened up. (The Star) China’s Factory Inflation Slows as Consumer Price Gains Ease China’s factory inflation slowed for a fifth month while the consumer price index retreated from a four-year high. The producer price index rose 3.1% in March from a year earlier, compared with the projected 3.3% rise in a Bloomberg survey and 3.7% in February. The consumer price index climbed 2.1%, the statistics bureau said, versus a forecast of 2.6% and 2.9% in February. The slowest factory inflation in more than a year may offer limited support to the world reflation cycle, amid rising trade tensions that may weigh on synchronized global growth. Domestic consumer prices are forecast to rise this year, while tariffs added to imports of U.S. products from soybeans to cars may boost inflation if implemented. The slower PPI reading is in line with a Bloomberg Economics tracker, which uses daily movements of commodity prices to predict the monthly PPI reading. The fading of the Lunar New Year holiday effects in March was the main reason for the CPI deceleration, the statistics bureau said in a statement released with the data. (Bloomberg) Page 5 of 8
8. 12-Apr-18 Trade War Would Damage Australia 's Economy - Governor A serious escalation of international trade tensions would “damage” the Australian economy, the country’s top central banker warned on Wednesday, amid a deepening tariff dispute between the United States and China. Volatility has spread across global financial markets since U.S. President Donald Trump first slapped import tariffs on aluminium and steel products last month, and later singled out China with extra duties. Reserve Bank of Australia (RBA) Governor Philip Lowe said in a speech that an escalation of the trade spat would hurt global growth and cloud the outlook for the domestic economy. The RBA has forecast stronger gross domestic product growth in 2018 than the 2.4% pace in the A$1.8 trillion economy seen last year. “There are, though, some uncertainties around this outlook, with the main ones lying in the international arena,” Lowe said in a speech in Perth. The RBA has left interest rates at a record low 1.50% as it awaits a pick-up in economic growth and inflation. Lowe reiterated on Wednesday that policy is likely to remain accommodative for some time yet. (Reuters) Japan Core Machine Orders Rise 2.1% In February Core machine orders in Japan advanced a seasonally adjusted 2.1% on month in February, the Cabinet Office said - coming in at 891.0 billion yen. That beat forecasts for a decline of 2.5% following the 8.2% spike in January. On a yearly basis, core machine orders advanced 2.4% - again exceeding expectations for a flat reading following the 2.9% gain in the previous month. The total value of machinery orders received by 280 manufacturers operating in Japan, including volatile ones for ships and those from electric power companies, fell 2.3% on month and climbed 9.4% on year. (RTT) United States Fed Minutes Signal Greater Confidence in Reaching 2% Inflation Federal Reserve officials at their meeting last month expressed greater confidence inflation would rise to their 2% target over the coming year, a development that could affect how much they raise interest rates in coming years. They also debated the costs and benefits of allowing the economy to run hot and discussed how they might need to later raise rates to a level that would deliberately slow growth, according to minutes of their March 20-21 meeting, which were released Wednesday. The minutes highlight just how much Fed officials’ outlook has changed since last fall, when surprisingly slow inflation raised questions about the need for continued rate increases. Fed officials last month believed the economy would run hot, or grow faster than its sustainable rate, for the next few years, the minutes said. In March, “all participants agreed that the outlook for the economy beyond the current quarter had strengthened in recent months,” the minutes said. In addition, “all participants expected inflation on a 12-month basis to move up in coming months.” The outlook has shifted since late last year because Congress and the White House approved tax cuts and a boost in federal government spending for this year and next. The economy hasn’t often had such fiscal stimulus when unemployment is so low. (WSJ) U.S. Budget Deficit Widens on Lower Revenue, Higher Spending The U.S. government’s budget deficit widened in the first half of its fiscal year as spending rose faster than revenue compared with the first six months of fiscal 2017. The deficit, or the difference between the amount of money the government spent and what it took in, stood at $599.71 billion in October through March, the Treasury Department said Wednesday. That was 14% higher than the deficit during the same period a year earlier. The federal fiscal year ends Sept. 30. Wednesday’s report showed the federal budget deficit was $208.74 billion in March, up 18% from the same month a year earlier. Government revenue fell 3% in March compared with a year earlier, while spending grew 7%. The revenue drop may reflect the package of corporate and individual tax cuts that Congress enacted in late 2017. In March, revenue from individual tax withholding dropped 2% from a year earlier, and gross corporate tax revenue dropped 41% from March 2017. (WSJ) Page 6 of 8
9. 12-Apr-18 U .S. Core Inflation Accelerates as Mobile-Phone Drag Fades A key measure of U.S. inflation accelerated to the highest in a year as a drag from mobilephone costs faded, bearing out the Federal Reserve’s forecast for a pickup in price gains. Excluding food and energy, the core consumer price index rose 2.1% from March 2017 after a 1.8% gain in the year through February, a Labor Department report showed. The gauge was up 0.2% from the prior month, matching the median estimate of economists. Including all items, the CPI was down 0.1% from February on a drop in gasoline costs, with the index up 2.4% from a year earlier, also the most in a year. The core CPI’s pickup will help reinforce the view of policy makers that inflation had been weighed down by transient factors such as the unusual weakness in the cost of wireless-phone services. The acceleration will reinforce Fed expectations that its preferred gauge of inflation -- a separate consumption-based figure from the Commerce Department -- is gradually approaching its 2% goal. (Bloomberg) Trump Looks to Assuage Trade Critics With Farm Package The Trump administration is seeking to blunt domestic opposition to its trade policies with a relief package for farmers affected by the U.S. trade spat with China, say officials involved in the discussions. The aid package, which could climb into the billions of dollars, is still being developed. Agriculture and congressional officials are examining Depression-era programs like the Commodity Credit Corp., which was created in 1933 to stabilize farm incomes, and which permits borrowing of as much as $30 billion from the Treasury to finance its activities. Using the CCC would also give the administration an existing program to tap, rather than having to devise something new that would need to clear Congress. These programs haven’t traditionally been used in trade fights, but Congress has started to clear the way for the CCC to be tapped. Last month, lawmakers lifted restrictions that, until now, stood in the way of the Agriculture Department using a special price-support program to aid farmers. The change, tucked into a sweeping, $1.3 trillion spending bill, reversed years of restrictions that had prevented the CCC from supporting farm prices or buying surplus products. (WSJ) Europe and Uni ted Kingdom UK Factory Output Drops Unexpectedly in February British manufacturing output fell unexpectedly in February, its first drop in almost a year, according to official figures that added to signs the economy may have slowed in the first quarter. The data, released on Wednesday along with figures for overseas trade, also showed another sharp drop in construction output, defying expectations for a small rebound after a severe downturn in January. The pace of economic growth slowed slightly in 2017 as higher inflation caused by the fall in sterling after the Brexit vote hurt consumers, although some exporters have gained from the weaker pound and the stronger euro zone economy. Overall, the data mostly chimed with business surveys that suggest Britain’s economy cooled further in early 2018, weighed down in part by snow storms in late February and early March. Manufacturing output, which was a bright spot last year thanks to the strong global economy, fell 0.2% month-on-month in February after a downward revision showed it stagnated in January, the Office for National Statistics said. That marked the first drop since March 2017 and was worse than the consensus in a Reuters poll of economists that pointed to a 0.2% rise. Manufacturing output was 2.5% higher than its level in February 2017, again less than the 3.3% Reuters poll consensus. The subdued output figures will be of interest to Bank of England officials who are widely expected to raise interest rates next month. (Reuters) UK Visible Trade Deficit Narrows in February The UK visible trade deficit narrowed to a 5-month low in February, the Office for National Statistics said. The trade in goods showed a shortfall of GBP 10.2 billion in February versus a GBP 12.2 billion deficit posted in January. This was the lowest shortfall since last September. In the same period of 2017, the visible trade gap totaled GBP 10.9 billion. The expected level of deficit was GBP 11.9 billion. The visible deficit with the EU narrowed by GBP 2.9 billion to GBP 94.4 billion and with non-EU countries widened by GBP 1.1 billion to GBP 41.4 billion Page 7 of 8
10. 12-Apr-18 in the twelve months to February . Data showed that the total trade deficit, including goods and services, declined notably to GBP 965 million from GBP 2.95 billion in January. (RTT) Bad Weather Cut GDP Growth to +0.2% in First Quarter - NIESR Estimate Heavy snow in late February and early March is likely to have caused British economic growth to halve in the first three months of the year to 0.2%, the National Institute of Economic and Social Research (NIESR) said on Wednesday. Official figures showed the economy grew 0.4% in the last three months of 2017. February factory and construction data released earlier on Wednesday were weak, and first-quarter gross domestic product data is due on April 27. “We estimate that economic growth nudged lower to 0.2% in the first quarter of 2018. The main reason for the weakness was severe weather in March which is likely to have disrupted activity in all major sectors,” NIESR economist Amit Kara said. Past experience of snowy weather in 2010 also suggested early estimates of GDP were likely to be revised more than normal, he added. (Reuters) ECB's Draghi Sees Small Effect of Trade Tariffs, Fears Retaliation The direct effect on the euro zone economy of trade tariffs announced by the United States and China is small but they can hurt investor confidence and trigger retaliation, the head of the European Central Bank said on Wednesday. “The direct effects are not big,” Mario Draghi told students at an ECB events. “In the end the key issue is retaliation.” (Reuters) Share Buy-Back 11-April 2018 Company AMPROP E&O FIMACOR GLOMAC INCKEN KFIMA N2N P&O SIGN SNTORIA SYSCORP TEXCYCL Bought Back 42,800 40,000 39,500 2,000 12,500 10,000 229,700 8,000 155,900 40,000 10,000 25,000 Price (RM) Hi/ Lo (RM) 0.69/0.68 1.44 1.98/1.97 0.51 0.69/0.675 1.47 0.84/0.82 1.08/1.06 0.53/0.515 0.60/0.58 0.26 0.70/0.68 0.70/0.68 1.44/1.43 1.98/1.97 0.51/0.495 0.69/0.675 1.48/1.46 0.84/0.81 1.08/1.06 0.535/0.515 0.60/0.585 0.265/0.255 0.70/0.66 Total Treasury Shares 17,306,000 27,863,747 4,462,100 6,914,300 17,564,300 426,300 12,189,300 11,734,293 11,893,000 7,331,000 4,443,800 1,738,050 Source: Bursa Malaysia Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my Page 8 of 8
11. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price Target Price (RM) (RM) % upside Recom Market Cap. (RMm) BETA EPS (sen) FY18 FY19 PER (X) FY18 FY19 Div Yield (%) FY18 FY19 52weeks 52weeks % Chg High Price % Chg Low Price % Chg YTD 11-Apr-18 AUTOMOBILE BAUTO 2.25 2.33 3.6% Buy 2,608 0.50 12.1 19.0 18.6 11.8 4.9 5.1 2.47 -8.9 1.84 22.3 2.3 MBMR 2.45 2.68 9.4% Hold 958 0.68 24.7 26.9 9.9 9.1 2.4 2.9 2.60 -5.8 2.01 21.9 11.4 PECCA 1.16 1.62 39.7% Buy 214 0.57 9.7 10.9 12.0 10.6 4.3 4.3 1.70 -31.8 1.13 2.7 -25.2 SIME 2.81 2.55 -9.3% Sell 19,110 1.56 13.2 16.4 21.3 17.1 1.2 1.5 3.06 -8.2 2.03 38.7 27.1 UMW 6.18 5.52 -10.7% Sell 7,220 1.45 28.6 40.2 21.6 15.4 2.3 3.2 6.98 -11.5 4.70 31.5 18.8 BANKS & FINANCIAL SERVICES ABMB 4.35 4.60 5.7% Buy 6,734 1.13 32.6 35.8 13.3 12.1 3.7 3.7 4.49 -3.1 3.62 20.2 6.6 AFFIN 2.44 2.40 -1.6% Sell 4,741 0.93 22.2 23.9 11.0 10.2 3.3 3.3 2.98 -15.0 2.22 13.9 9.5 AMBANK 3.98 4.70 18.1% Buy 11,996 1.43 38.1 44.4 10.4 9.0 4.5 4.5 5.70 -30.2 3.61 10.2 -9.8 CIMB 7.20 8.60 19.4% Buy 66,424 1.60 58.2 59.9 12.4 12.0 4.0 4.2 7.39 -2.6 5.32 35.3 10.1 HLBANK 18.72 21.30 13.8% Buy 38,294 0.85 116.8 126.8 16.0 14.8 2.6 2.6 20.02 -6.5 13.56 38.1 10.1 MAYBANK 10.60 11.50 8.5% Buy 115,567 0.99 73.8 77.9 14.4 13.6 5.2 5.2 10.60 0.0 8.92 18.8 8.2 PBBANK 23.96 27.30 13.9% Buy 92,521 0.71 153.3 166.5 15.6 14.4 2.4 2.5 24.12 -0.7 19.86 20.6 15.3 RHBBANK 5.29 6.10 15.3% Buy 21,213 1.46 54.3 59.0 9.7 9.0 2.8 2.8 5.61 -5.7 4.71 12.3 5.8 BURSA 7.29 7.04 -3.4% Buy 5,878 0.90 29.2 30.0 24.9 24.3 4.9 4.9 7.65 -4.7 6.20 17.5 8.1 -18.1 Note: BURSA bonus issue of shares on the basis of 1 for 2. Ex-Target price RM7.04 BUILDING MATERIALS ANNJOO 3.16 4.34 37.3% Buy 1,654 1.23 43.5 46.3 7.3 6.8 6.9 7.8 3.98 -20.6 2.59 22.0 CHINHIN 1.12 1.39 24.1% Buy 623 1.00 11.4 11.1 9.8 10.1 5.7 5.0 1.49 -24.8 1.00 12.6 -7.4 CSCSTEL 1.41 1.70 20.6% Buy 521 0.78 17.4 17.9 8.1 7.9 6.6 6.8 2.05 -31.1 1.27 11.0 -8.4 ENGTEX 1.03 1.38 34.0% Buy 449 0.83 13.8 15.7 7.5 6.6 4.0 5.3 1.52 -32.2 0.96 7.3 -6.4 GADANG 0.89 1.69 89.9% Buy 589 1.22 14.2 18.1 6.3 4.9 3.4 3.4 1.37 -35.0 0.80 11.3 -19.8 GAMUDA 5.15 5.84 13.4% Buy 12,670 0.87 34.4 36.4 15.0 14.1 2.3 2.3 5.52 -6.7 4.58 12.4 3.8 IJM 2.82 2.96 5.0% Hold 10,230 1.26 13.7 18.6 20.6 15.1 3.4 3.4 3.60 -21.7 2.53 11.5 -7.5 CONSTRUCTION KAB 0.25 0.38 53.1% Buy 8 na 31.4 37.3 0.8 0.7 4.1 4.9 0.33 -25.8 0.20 22.5 -18.3 PESONA 0.33 0.45 36.4% Buy 229 1.37 4.8 4.6 6.8 7.1 4.5 4.5 0.73 -54.8 0.30 10.0 -26.7 13.3 SENDAI 0.98 0.79 -19.4% Sell 765 1.46 9.9 8.7 9.9 11.2 1.0 1.0 1.39 -29.5 0.68 44.1 SUNCON 2.30 2.65 15.2% Hold 2,972 0.68 14.7 16.4 15.6 14.0 3.5 3.9 2.64 -12.9 1.82 26.4 -8.4 WCT 1.22 1.50 23.0% Sell 1,716 1.09 11.3 10.8 10.8 11.3 2.5 2.5 2.48 -50.7 1.13 8.0 -24.7 LITRAK 5.60 6.26 11.8% Hold 2,956 0.35 45.6 47.1 12.3 11.9 4.5 4.5 6.15 -8.9 5.40 3.7 0.9 CARLSBG 19.60 18.09 -7.7% Buy 6,029 0.71 87.8 91.8 22.3 21.4 4.4 4.5 21.00 -6.7 14.36 36.5 28.1 HEIM 20.78 21.64 4.1% Hold 6,278 0.40 93.0 101.6 22.3 20.5 3.6 3.8 23.04 -9.8 16.98 22.4 9.9 AEON 2.00 1.97 -1.5% Buy 2,808 0.15 7.5 8.9 26.6 22.4 2.3 2.5 2.52 -20.6 1.45 37.9 13.6 AMWAY 7.59 8.59 13.2% Buy 1,248 0.50 48.3 49.9 15.7 15.2 5.3 5.4 8.10 -6.3 6.97 8.9 3.9 F&N 32.84 33.74 2.7% Buy 12,037 0.32 122.7 145.8 26.8 22.5 2.4 2.9 34.50 -4.8 23.40 40.3 21.6 CONSUMER Brewery Retail HUPSENG 1.04 1.25 20.2% Buy 832 0.38 5.7 5.9 18.2 17.6 5.8 5.8 1.28 -18.8 1.02 2.0 -4.6 JOHOTIN 0.97 1.48 52.6% Buy 301 1.12 11.1 11.7 8.7 8.3 6.2 6.7 1.76 -44.9 0.90 7.8 -19.8 NESTLE 150.20 129.90 -13.5% Sell 35,222 0.60 322.2 360.2 46.6 41.7 2.0 2.2 163.00 -7.9 79.90 88.0 45.5 PADINI 4.80 4.67 -2.7% Sell 3,158 0.76 28.0 30.4 17.2 15.8 2.6 2.7 5.50 -12.7 2.91 65.1 -9.1 POHUAT 1.21 1.78 47.1% Buy 266 0.55 20.1 23.1 6.0 5.2 5.0 6.6 2.07 -41.5 1.15 5.2 -32.4 QL 5.18 5.41 4.4% Hold 8,404 0.64 13.3 15.5 38.8 33.4 0.9 0.9 5.18 0.0 3.54 46.4 19.1 SIGN 0.52 0.92 78.6% Buy 118 0.74 6.6 8.7 7.8 5.9 4.9 6.8 1.07 -51.9 0.48 7.3 -27.0 23.46 34.72 48.0% Hold 6,699 1.57 170.8 168.8 13.7 13.9 6.8 6.8 47.48 -50.6 23.10 1.6 -41.4 GENTING 9.04 11.58 28.1% Buy 34,637 1.41 55.1 61.8 16.4 14.6 1.8 1.8 9.92 -8.9 8.47 6.7 -1.0 GENM 4.99 6.68 33.9% Buy 28,236 1.39 27.6 32.0 18.1 15.6 2.4 2.6 6.28 -20.6 4.59 8.7 -10.0 2.10 3.22 53.3% Buy 2,829 0.61 19.9 26.0 10.6 8.1 7.6 8.6 2.87 -26.8 2.06 1.9 -6.3 CCMDBIO 2.86 3.40 18.9% Buy 798 0.90 16.2 17.7 17.6 16.1 1.6 1.7 3.05 -6.2 1.97 45.2 13.0 IHH 6.06 6.40 5.6% Sell 49,932 0.71 11.9 15.0 51.0 40.5 0.5 0.6 6.33 -4.3 5.42 11.8 3.4 KPJ 0.93 1.13 21.5% Buy 3,919 0.58 3.9 4.3 23.8 21.4 2.3 2.6 1.14 -18.4 0.84 10.7 -4.1 HARTA 6.61 3.90 -41.0% Sell 21,892 1.09 12.6 14.4 52.6 45.9 1.1 1.3 6.64 -0.5 2.44 171.5 23.8 KOSSAN 7.62 9.73 27.7% Buy 4,873 0.61 37.4 42.1 20.4 18.1 2.5 2.8 8.79 -13.3 5.62 35.6 -6.0 SUPERMX 2.67 2.70 1.1% Buy 1,751 0.55 20.0 22.6 13.4 11.8 2.0 2.3 2.92 -8.6 1.69 58.0 33.5 TOPGLOV 10.16 12.20 20.1% Buy 12,972 0.62 35.3 42.7 28.8 23.8 1.4 1.7 10.44 -2.7 4.56 122.8 27.2 KAREX 0.81 0.93 15.5% Sell 807 0.76 1.8 3.0 45.5 26.6 0.5 0.9 2.26 -64.4 0.75 7.3 -38.1 SCIENTX 7.74 10.01 29.3% Buy 3,784 0.97 67.5 79.4 11.5 9.8 2.7 3.4 9.85 -21.4 7.45 3.9 -10.6 SKPRES 1.59 2.20 38.4% Buy 1,988 0.90 10.4 14.8 15.3 10.8 3.3 4.6 2.35 -32.3 1.25 27.2 -30.3 ASTRO 2.04 2.90 42.2% Buy 10,636 0.91 12.4 13.8 16.4 14.7 6.1 6.1 2.94 -30.6 1.75 16.6 -23.0 MEDIA PRIMA 0.36 0.45 26.8% Sell 394 1.37 -3.8 -1.7 na na 0.0 0.0 1.24 -71.4 0.33 9.2 -53.3 STAR 1.09 1.20 10.1% Sell 804 1.09 6.2 5.9 17.6 18.4 8.3 8.3 2.22 -50.8 1.06 2.8 -33.9 Tobacco BAT GAMING Casino NFO BJTOTO HEALTHCARE Hospitals/ Pharmaceutical Rubber Gloves INDUSTRIAL MEDIA
12. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price Target Price (RM) (RM) % upside Recom Market Cap. (RMm) BETA EPS (sen) FY18 FY19 PER (X) FY18 FY19 Div Yield (%) FY18 FY19 52weeks 52weeks % Chg High Price % Chg Low Price % Chg YTD OIL & GAS DNEX 0.40 0.69 72.5% Buy 703 1.73 4.0 4.3 10.1 9.3 2.5 2.5 0.69 -42.0 0.34 19.4 -17.5 LCTITAN 6.40 7.60 18.8% Buy 14,547 na 56.3 60.9 11.4 10.5 3.9 4.2 6.53 -2.0 4.14 54.6 36.2 MHB 0.78 0.81 4.5% Sell 1,240 1.44 0.5 1.7 161.4 46.5 0.0 0.0 1.16 -33.2 0.63 24.0 -6.1 MISC 7.14 7.00 -2.0% Sell 31,871 1.10 50.1 53.8 14.3 13.3 4.2 4.2 7.90 -9.6 6.73 6.1 -3.8 PANTECH 0.56 0.69 24.3% Buy 413 1.31 6.1 6.8 9.1 8.2 4.9 5.5 0.74 -25.0 0.51 8.8 -14.0 PCHEM 8.51 9.00 5.8% Hold 68,080 0.84 52.5 54.0 16.2 15.8 3.1 3.3 8.60 -1.0 6.80 25.1 10.5 SAPNRG 0.65 0.84 30.2% Buy 3,865 2.21 -5.0 -1.7 na na 0.0 0.0 2.10 -69.3 0.40 63.3 -9.2 SERBADK 3.33 4.15 24.6% Buy 4,890 na 27.7 31.6 12.0 10.6 2.7 3.0 3.68 -9.5 1.79 86.0 2.8 UMWOG 0.30 0.39 32.2% Buy 2,424 2.09 0.4 1.2 77.3 25.5 0.0 0.0 0.68 -56.5 0.22 37.2 -3.3 UZMA 1.35 1.57 16.3% Hold 432 0.99 12.9 13.9 10.5 9.7 0.0 0.0 1.98 -31.8 1.18 14.4 5.5 FGV 1.84 2.09 13.6% Buy 6,713 1.58 2.0 3.4 91.1 54.0 2.7 2.7 2.18 -15.6 1.51 21.9 8.9 IJMPLNT 2.26 2.23 -1.3% Sell 1,990 0.18 6.5 8.2 34.5 27.6 3.5 4.0 3.22 -29.8 2.19 3.2 -17.5 IOICORP 4.75 5.43 14.3% Buy 29,005 0.92 19.0 21.3 25.0 22.4 5.6 3.5 4.81 -1.2 4.21 12.9 7.2 KFIMA 1.48 1.89 27.7% Buy 417 0.68 13.7 13.8 10.8 10.7 6.1 6.1 1.96 -24.5 1.44 2.8 -5.7 KLK 25.48 27.76 8.9% Hold 27,135 0.64 107.6 116.0 23.7 22.0 2.1 2.2 25.78 -1.2 23.66 7.7 1.9 SIMEPLT 5.63 6.27 11.4% Hold 38,289 na 19.6 20.0 28.7 28.2 2.5 2.8 6.00 -6.2 4.58 22.9 -6.2 TSH 1.38 1.81 31.2% Buy 1,905 0.52 9.3 9.6 14.8 14.4 1.7 1.8 1.82 -24.2 1.37 0.7 -16.4 UMCCA 6.05 6.21 2.6% Sell 1,269 0.41 17.0 22.4 35.7 27.0 2.6 3.0 7.08 -14.5 5.97 1.3 -7.1 GLOMAC 0.50 0.40 -19.2% Sell 393 0.64 1.5 2.5 32.8 20.0 2.0 2.0 0.66 -24.4 0.45 10.0 -10.7 HUAYANG 0.47 0.58 23.4% Sell 165 0.87 0.7 3.4 70.9 13.8 1.1 1.1 1.14 -58.8 0.44 6.8 -23.0 IBRACO 0.65 0.80 23.1% Buy 323 na 7.2 10.7 9.0 6.1 4.6 6.2 0.98 -33.3 0.50 30.0 -20.2 IOIPG 1.54 2.00 29.9% Sell 8,479 0.86 16.3 15.7 9.4 9.8 3.9 3.9 2.22 -30.6 1.50 2.7 -16.8 MAHSING 1.08 1.59 47.2% Buy 2,622 0.87 11.8 11.3 9.1 9.6 6.0 6.0 1.64 -34.1 0.98 10.2 -25.5 SIMEPROP 1.42 1.51 6.3% Hold 9,657 na 7.5 7.5 18.9 19.0 2.8 2.1 1.78 -20.2 1.04 36.5 -20.2 SNTORIA 0.60 0.76 26.7% Buy 336 0.25 8.3 8.6 7.3 7.0 1.7 1.7 0.82 -26.7 0.56 7.1 -13.7 SPB 4.38 5.10 16.4% Hold 1,505 0.64 18.7 24.0 23.4 18.2 2.7 2.7 5.50 -20.4 4.14 5.8 -10.6 SPSETIA 3.02 3.73 23.5% Buy 11,341 0.95 19.8 19.4 15.2 15.6 4.0 4.0 4.38 -31.1 2.77 9.0 -24.5 SUNWAY 1.58 1.75 10.8% Hold 7,702 0.88 11.8 12.4 13.4 12.7 3.8 3.8 1.96 -19.3 1.38 14.1 -3.1 SUNREIT 1.59 1.87 17.6% Hold 4,683 0.88 10.0 10.7 15.9 14.9 6.3 6.7 1.90 -16.3 1.48 7.4 -16.3 CMMT 1.14 1.48 29.8% Buy 2,326 0.75 7.9 8.4 14.4 13.6 7.1 7.5 1.83 -37.7 0.98 16.3 -37.7 PLANTATIONS PROPERTY REIT POWER & UTILITIES MALAKOF 0.90 0.82 -8.9% Sell 4,446 0.99 6.7 7.2 13.5 12.4 7.8 7.8 1.28 -29.7 0.85 5.9 -8.2 PETDAG 25.36 24.08 -5.0% Sell 25,194 0.49 114.7 116.3 22.1 21.8 3.4 3.4 25.97 -2.3 20.81 21.9 5.5 PETGAS 18.00 19.46 8.1% Buy 35,617 0.82 99.3 100.0 18.1 18.0 3.9 3.9 19.80 -9.1 15.82 13.8 3.0 TENAGA 15.86 18.22 14.9% Buy 89,863 0.61 131.3 127.5 12.1 12.4 4.1 4.0 16.34 -2.9 13.62 16.4 3.9 YTLPOWR 0.99 1.16 17.2% Sell 7,850 0.96 8.5 8.7 11.7 11.3 5.1 5.1 1.50 -34.0 0.95 4.2 -23.3 TELECOMMUNICATIONS AXIATA 5.31 6.50 22.4% Buy 48,051 1.58 15.9 19.4 33.3 27.3 1.5 3.0 5.82 -8.8 4.54 17.0 -3.3 DIGI 4.53 5.15 13.7% Hold 35,221 1.04 19.7 20.4 23.0 22.3 4.3 4.5 5.19 -12.7 4.36 3.9 -11.2 MAXIS 5.87 6.05 3.1% Sell 45,848 1.11 25.2 25.0 23.3 23.4 3.4 3.4 6.60 -11.1 5.30 10.8 -2.3 TM 5.54 7.20 30.0% Buy 20,819 0.61 22.8 24.9 24.3 22.3 3.7 4.0 6.69 -17.2 4.90 13.1 -12.1 ELSOFT 2.50 3.30 32.0% Buy 688 0.98 13.1 15.0 19.1 16.7 3.7 4.2 2.95 -15.3 1.94 28.9 -7.4 IRIS 0.18 0.22 22.2% Buy 445 2.51 0.0 0.3 654.3 56.9 0.0 0.0 0.25 -26.5 0.14 33.3 -2.7 INARI 2.06 3.65 77.2% Buy 6,415 0.71 13.7 15.3 15.1 13.5 4.8 5.3 2.55 -19.1 1.26 63.8 -9.1 TECHNOLOGY Semiconductor & Electronics Note: INARI proposed bonus issue shares on the basis of 1 for 2. For more detail please refer to 30.01.18 report. MPI 8.60 10.70 24.4% Buy 1,711 0.92 73.9 86.9 11.6 9.9 3.7 3.7 14.52 -40.8 8.08 6.4 -31.9 UNISEM 2.62 2.55 -2.7% Hold 1,923 1.12 19.0 20.3 13.8 12.9 4.6 4.6 4.25 -38.4 2.25 16.4 -28.2 TRANSPORTATION Airlines AIRASIA 3.93 4.93 25.4% Hold 13,134 1.04 5.5 5.5 72.0 72.0 2.0 2.0 4.75 -17.3 2.89 36.0 17.3 AIRPORT 9.12 8.61 -5.6% Sell 15,132 1.09 18.0 18.8 50.8 48.5 1.4 1.1 9.45 -3.5 7.09 28.6 3.8 Freight & Tankers PTRANS 0.25 0.46 84.0% Buy 317 na 2.3 3.7 10.9 6.7 2.8 4.5 0.38 -34.5 0.21 19.6 -10.7 TNLOGIS 1.04 1.45 39.4% Buy 465 0.96 10.3 10.5 10.1 9.9 4.8 4.8 1.83 -43.3 0.99 5.1 -22.4 WPRTS 3.40 4.06 19.4% Buy 11,594 0.49 15.6 20.0 21.8 17.0 1.1 1.4 4.14 -17.9 3.12 9.0 -8.1 SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price Target Price (S$) (S$) % upside Recom Market Cap. (S$m) Beta EPS (cent) FY18 FY19 PER (X) FY18 FY19 Div Yield (%) FY18 FY19 52week 52week % Chg High Price % Chg Low Price % Chg YTD BANKS & FINANCIAL SERVICES DBS 28.07 30.50 8.7% Buy 71,968 1.12 212.3 246.0 13.2 11.4 2.3 2.5 29.7 -5.5 18.65 50.5 OCBC 12.96 14.30 10.3% Buy 54,206 1.20 109.5 123.3 11.8 10.5 6.7 7.7 13.6 -4.8 9.49 36.6 13.0 4.6 UOB 27.98 27.80 -0.6% Hold 46,476 1.16 216.8 244.1 12.9 12.9 2.9 2.9 29.0 -3.5 21.38 30.9 5.8 PLANTATIONS WILMAR 3.18 3.50 10.1% Buy 20,347 0.81 25.4 27.7 12.5 11.5 3.1 3.5 3.9 -17.8 2.97 7.1 2.9 IFAR 0.34 0.37 10.4% Buy 480 1.11 3.1 3.9 11.0 8.6 1.2 1.6 0.5 -35.0 0.32 6.3 -14.1 BUY : Total return within the next 12 months exceeds required rate of return by 5%-point. HOLD : Total return within the next 12 months exceeds required rate of return by between 0-5%-point. SELL : Total return is lower than the required rate of return. Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months. Gross dividend is excluded from total return if dividend discount model valuation is used to avoid double counting. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.
13. ECONOMIC UPDATE Thursday , April 12, 2018 FBMKLCI: 1,869.89 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Mal ays ian Ec ono my Moderate Output in February 2018 Shazma Juliana Abu Bakar Farid Burhanuddin Tel: +603-2167 9608 Tel: +603-2167 9220 shazma@ta.com.my farid@ta.com.my www.taonline.com.my February IPI Review § Malaysia’s Industrial Production Index (IPI) rose by 3.0% YoY in February 2018, below consensus estimates of 3.3% YoY (TA’s forecast: +3.4% YoY). Namely, manufacturing and electricity grew by 4.7% YoY and 2.8% YoY respectively while mining index posted a decrease of 1.6% YoY. On a seasonally adjusted monthly basis, IPI declined by 4.4%, partly due to lesser working days as compared in January. The weaker growth is also in line with weak exports growth, which declined by 2.0% YoY, the first contraction since October 2016. We noted that the IPI growth in January 2018 was revised higher to 5.4% YoY (initial: 3.0% YoY) following adjustments in the manufacturing output. § Details showed that the manufacturing output (68.3% of total IPI) moderated to 4.7% YoY during the month, as compared with a revised growth of 6.9% YoY in January 2018. The moderation in the sector was mainly due to lower output across the board. Particularly, output of electrical & electronics (E&E) products softened to 5.4% YoY as compared to 5.7% YoY previously; non-metallic mineral products, basic metal and fabricated metal products (Feb18: +5.0% YoY; Jan18: +6.1% YoY); textiles, wearing apparel, leather & footwear product (Feb18: +7.1% YoY; Jan18: +9.5% YoY); transport equipment & other manufactures (Feb18: -2.0% YoY; Jan18: +3.5% YoY); and food, beverages & tobacco (Feb18: +2.1% YoY; Jan18: +16.1% YoY). On a MoM basis, manufacturing output declined by 5.1% vs January’s 6.5% MoM. § Meanwhile, output in the mining sector (25.1% of total IPI) fell by 1.6% YoY in February 2018, pulled down by weaker natural gas production by -3.5% YoY (Jan18: +1.5% YoY) and lower output of crude oil (Feb18: +0.5% YoY; Jan18: +1.6% YoY). On a monthly basis, mining output contracted by 3.5% MoM s.a. § Electricity production (6.6% of total IPI) in February 2018 increased by 2.8% YoY (Jan18: +4.3% YoY). As compared to December 2017, the output declined by 0.7% MoM s.a. Manufacturing Sales Performance § Mirroring the moderation in production during the month, total sales value of manufacturing, posted a slower growth of 4.9% YoY (-8.0% MoM) to RM62.3bn (Jan18: +10.8% YoY). Lower sales were recorded for most of the products such as the E&E (Feb18: +5.7% YoY; Jan18: +14.7% YoY); petroleum, chemical, rubber & plastic (Feb18: +6.6% YoY; Jan18: +10.9% YoY); food, beverage & tobacco (Feb18: +0.8% YoY; Jan18: +9.1% YoY); wood, furniture, paper products & printing (Feb18: -2.3% YoY; Jan18: +3.7% YoY); as well as transport equipment & other manufacturers (Feb18: +2.4% YoY; Jan18: +4.4% YoY). In January 2018, the growth for manufacturing sales were unchanged at 10.8% YoY. § Meanwhile, total employees engaged in the manufacturing sector during the month were 1,065,849, an increase of 22,900 persons (or +2.2% YoY), but dropped by 0.4% MoM. With that, productivity rose by 2.0% YoY in February 2018 (Jan18: +8.0% YoY) but declined by 7.6% on a monthly basis. Page 1 of 3
14. 12-Apr-18 Outlook § The cumulative index for the period of January-February 2018 (2M18) was 4.3% against the same period in 2017. Namely, manufacturing and electricity sector registered a growth of 5.8% YoY and 3.6% YoY, respectively while mining index were flat. § Expectation of slower manufacturing output in 1Q18, coupled with other downside risks, such as rising trade protectionism in the US and China, could affect the manufacturing as well as economic performance of our country going forward. In fact, the headline Nikkei Malaysia Manufacturing PMI fell further to 49.5 in March 2018 from 49.9 in the prior month with output declined for the first time in eight months amid reports of poor demand conditions. Moreover, the new export orders index registered at a 15-month low, highlighting falling demand for Malaysian goods in international markets. § Maintain our 1Q18 GDP forecast at 5.3% YoY (vs. 5.9% YoY in 4Q17 and 5.6% YoY in 1Q17). Figure 1: Statistical Summary of Malaysia’s Industrial Production (YoY %) (2015=100) IPI Mining Electricity Manufacturing Manufacturing Sales Wt. 2017 Sep-17 Oct-17 Nov-17 Dec-17 100.0% 25.1% 6.6% 68.3% na 4.5% 0.5% 2.6% 6.1% 13.7% 4.8% 2.4% 2.2% 5.9% 10.6% 3.1% -0.5% 4.6% 4.2% 11.0% 4.6% -0.2% 3.9% 6.4% 10.9% 2.9% -4.1% 3.9% 5.4% 9.4% Jan18 5.4% 1.5% 4.3% 6.9% 10.8% Feb18 3.0% -1.6% 2.8% 4.7% 4.9% 2M18 4.3% 0.0% 3.6% 5.8% 7.9% Source: DOS, TA Securities Malaysia: Industrial Production Figure 2: Overall IPI (2016- Feb 2018) Source: DOS, TA Securities Figure 3: IPI by Sector (2016- Feb 2018) Source: DOS, TA Securities Page 2 of 3
15. 12-Apr-18 Figure 4 : Manufacturing Sales vs. Output (2016- Feb 2018) Source: DOS, TA Securities Figure 5: Selected Countries - Manufacturing PMI (2016 – Mar 2018) Source: DOS, TA Securities Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia www.ta.com.my Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 Page 3 of 3
16. COMPANY UPDATE Thursday , April 12, 2018 FBMKLCI: 1,869.89 Sector: Oil & Gas THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Sapura Energy Bhd TP: RM0.84 (+29.2%) Last Traded: RM0.65 SK408 Phase 1 Gets Formal Green Light Kylie Chan Sze Zan Tel: +603-2167 9601 Buy kyliechan@ta.com.my The News Sapura Energy Berhad (SAPE) and its partners, PETRONAS Carigali and Sarawak Shell have taken Final Investment Decision (FID) to develop the Gorek, Larak and Bakong fields as Phase 1 in the SK408 Production Sharing Contract (PSC). The FID follows the Field Development Plan approval from PETRONAS and concurrently, the signing of the Gas Sales Agreement (GSA) for the said project. The fields will be developed as three separate wellhead platforms tied back to the existing processing facility and to the Bintulu MLNG complex. SAPE and Sarawak Shell are the field development and production operator of Larak & Bakong and Gorek fields respectively. The fields under the SK408 gas field development project are part of the discoveries made by SAPE in its 2014 drilling campaign. Our Take We are positive on the formalization of SK408 Phase 1’s FID and GSA, although this has been well flagged to the market. Similar to SAPE’s maiden field development project (SK310 B15), we do not expect project details to be unveiled for this new project, given high levels of secrecy surrounding Petronas PSC contracts. However, assuming a 2-year development plan, we can expect earnings contribution from this project to begin from FY21 onwards. This is in-line with management’s target of first gas for SK408 Phase 1 in CY19/20. www.taonline.com.my Share Information Bloomberg Code SAPE MK Stock Code 5218 Listing Main Market Share Cap (mn) 5,992 Market Cap (RMmn) 3,895 Par Value (RM) 1.00 52-wk Hi/Lo (RM) 2.10/0.40 12-mth Avg Daily Vol ('000 shrs) 47,881 Estimated Free Float (%) 56 Beta 2.81 Major Shareholders (%) Sapura Holdings - 15.9 KWAP - 7.2 Forecast Revision (%) FY19 Forecast Revision (%) Core Net Profit (RM mn) 0.0 FY20 0.0 (102.0) 121.4 Consensus (57.0) 142.8 TA/Consensus (%) 179.0 85.0 Previous Rating Buy (Maintained) Financial Indicators FY19 Net Debt/Equity (x) FY20 1.6 ROA (%) (0.3) ROE (%) (1.1) 1.6 0.4 1.3 NTA/Share (RM) 0.2 0.3 P/NTA (x) 2.7 2.5 Share Performance Management had earlier provided guidance that SK408 Phase 1 will incur a net development capex of USD200mn (RM800mn) in 2018-20. Additionally, similar to the previous year, SAPE will not increase borrowings in FY19, and shall finance the E&P capex (FY18: RM890mn) internally. We believe this is viable as SAPE’s near term liquidity and balance sheet (net gearing: 1.6x) remain manageable, underpinned by healthy operating cash flows (FY18: RM1bn, FY17: RM3.1bn). Furthermore, FY19 cashflows are expected to receive a significant boost from SK310 B15, which started production recently in Oct-17. Price Change (%) SAPE FBMKLCI 1 mth 38.7 1.5 3 mth (25.9) 3.0 6 mth (55.5) 6.5 12 mth (69.1) 7.8 (12-Mth) Share Price relative to the FBMKLCI We believe the timing of this project hits a sweet spot, as it capitalizes on the current low cost environment in upstream development. Meanwhile, fast forward 2 years later, this project will benefit from the recovery in oil price. Furthermore, SAPE’s Engineering & Construction (E&C) fleet is currently underutilized. Therefore, development of Phase 1 SK408 may provide working opportunities to boost SAPE’s E&C orderbook. Source: Bloomberg Page 1 of 4
17. 12-Apr-18 We are positive on SAPE ’s active momentum in the upstream E&P (Exploration & Production) space in recent months, thus enabling the group to capitalize on oil price’s nascent recovery. This includes: 1) farm-in agreements to five offshore exploration permits within the Taranaki Basin at New Zealand, and 2) award of Block 30 in Sureste Basin in the Gulf of Mexico (GoM). Impact Maintain forecasts. Valuation In light of the Group’s positive traction in the E&P space, we tweak our valuation of SAPE’s Adjusted Book Value (BV) per share, by lowering discounts on: 1) Goodwill: 10% (previous: 30%), and 2) Trade Receivables: 10% (previous: 20%). As a result, our CY18 Adjusted BV/share is raised to RM1.40 (previous: RM1.09) based on CY18 Book Value, net of the above items and Other Intangible Assets. SAPE’s E&P assets have high monetization potential, and renders the stock a proxy to oil price recovery. To recap, SAPE has O&G net reserves and resources totalling 253mn boe. SK310 B15, which recently commenced production in Oct-17, is set to deliver maiden profits in 1QFY19. Meanwhile, EBITDA oil breakeven price for PM323 remains low at USD3035/bbl. Both fields generate immediate cashflow to fund development capex required by SAPE’s E&P assets in Malaysia, New Zealand and Mexico. Maintain Buy on SAPE with revised TP of RM0.84 (previous: RM0.65) based on unchanged 0.6x CY18 Adjusted P/B. Aside from being an oil price recovery play, other catalysts include: 1) potential listing of SAPE’s E&P assets may unlock value and raise significant cash, and 2) earnings upside due to substantial depreciation savings (USD40mn p.a.) from FY18’s major kitchen sinking exercise. [ TH E RE M A ININ G OF T H IS P A GE IS IN TE N TI O NA L L Y L E F T BL AN K] Page 2 of 4
18. 12-Apr-18 Table 1 : Earnings Summary (RMmn) Income Statememt Balance Sheet FYE 31 Jan (RMmn) 2017 2018 Revenue 7,651.3 5,895.0 6,059.2 7,894.8 8,927.1 EBITDA 2,688.4 1,502.8 1,202.7 1,392.4 1,436.3 Goodwill 8,443.5 7,899.1 7,899.1 7,899.1 7,899.1 Depreciation (1,792.1) (1,062.0) (679.5) (688.9) (700.5) Invt in Associates & JCEs 1,858.6 1,557.5 1,902.5 2,316.5 2,813.3 (776.1) (837.3) (839.4) (830.9) (824.8) Other receivables & Tax 456.9 276.5 345.0 414.0 496.8 Net finance cost Jointly Controlled Ent 2019E 2020F 2021F Exceptionals (191.9) (2,203.7) 0.0 0.0 0.0 Pretax Profit 385.2 (2,323.6) 28.8 286.6 407.8 Taxation (179.1) (129.9) (165.2) (189.0) (0.9) (0.0) MI 2.2 (181.2) 1.3 0.3 FYE 31 Jan (RMmn) Fixed assets & O&G Expend Other assets Non-Current Assets Inventories 2017 15,140.0 2018 11,454.7 2019E 11,675.2 2020F 11,836.3 2021F 12,035.8 260.7 134.2 134.2 134.2 134.2 4,438.8 4,220.4 4,220.4 4,220.4 4,220.4 30,141.7 25,266.0 25,831.4 26,406.6 27,102.9 458.5 376.6 498.0 648.9 733.7 Trade and other rcvb 3,269.1 2,530.1 2,241.1 2,920.0 3,301.8 3,519.5 1,716.2 1,474.2 946.2 339.4 95.1 103.9 103.9 103.9 103.9 7,342.2 4,726.8 4,317.2 4,619.0 4,478.9 37,483.9 29,992.8 30,148.6 31,025.6 31,581.7 15,483.0 14,694.6 14,694.6 14,594.6 14,494.6 1,304.5 1,023.7 1,023.7 1,023.7 1,023.7 17,030.6 15,914.4 15,914.4 15,814.4 15,714.4 Borrowings 3,511.1 1,722.2 1,622.2 1,522.2 1,422.2 Trade & other Payables 3,800.3 2,797.1 3,154.1 4,109.6 4,647.0 61.7 108.7 108.7 108.7 108.7 7,373.0 4,628.0 4,885.0 5,740.5 6,177.8 24,403.6 20,542.4 20,799.4 21,554.9 21,892.2 Core Net Profit 400.3 (299.8) (102.0) 121.4 219.1 Cash and Deposits Reported Net Profit 208.3 (2,503.5) (102.0) 121.4 219.1 Other assets Current Assets Per Share Data Core EPS (sen) 6.7 (5.0) (1.7) 2.0 3.7 Reported EPS (sen) 6.7 (5.0) (1.7) 2.0 3.7 Total Assets DPS (sen) 1.0 0.0 0.0 0.0 0.0 Borrowings Book Value (RM) 2.2 1.6 1.6 1.6 1.6 Derivatives & Tax Net Tang Asset (RM) 0.8 0.3 0.2 0.3 0.3 Non-current liabilities FCF (RM) 0.5 0.0 0.1 0.1 0.1 Ratios FYE 31 Jan (RMmn) 2017 2018 2019E 2020F 2021F Valuations Other Liabilities Current Liabilities Core PER (x) 9.7 (12.9) (38.0) 32.0 17.7 Reported PER (x) 9.7 (12.9) (38.0) 32.0 17.7 Dividend yield (%) 1.5 0.0 0.0 0.0 0.0 EV/EBITDA (x) 7.1 12.4 15.6 13.7 13.5 Share capital 5,992.2 8,066.4 8,066.4 8,066.4 8,066.4 P/BV (x) 0.3 0.4 0.4 0.4 0.4 Retained earnings & others 7,084.0 1,383.6 1,281.5 1,403.0 1,622.1 P/NTA (x) 0.8 2.5 2.7 2.5 2.2 Minority interests 4.2 0.4 1.3 1.3 1.0 FCF Yield (%) 70.4 0.1 21.3 17.2 15.6 Equity 13,080.3 9,450.4 9,349.2 9,470.7 9,689.5 Total Equity + Liabilities 37,483.9 29,992.8 30,148.6 31,025.6 31,581.7 EBITDA margin (%) 35.1 25.5 19.8 17.6 16.1 Profitability ratios Total Liabilities EBIT margin (%) 11.7 7.5 8.6 8.9 8.2 Cash Flow Statement PBT margin (%) 7.5 (2.0) 0.5 3.6 4.6 FYE 31 Jan (RMmn) Net margin (%) 5.2 (5.1) (1.7) 1.5 2.5 PBT Core ROE (%) 3.1 (3.2) (1.1) 1.3 2.3 Depreciation 1,792.1 Core ROA (%) 1.1 (1.0) (0.3) 0.4 0.7 Net Interest Working Cap Changes Liquidity ratios Income taxes Paid Current ratio (x) 1.0 1.0 0.9 0.8 0.7 Interest Received Quick ratio (x) 0.9 0.9 0.8 0.7 0.6 Share of results of JCEs Others Leverage ratios CF from Operations Total Debt/ Assets (x) 0.5 0.5 0.5 0.5 Total Debt/Equity (x) 1.4 1.7 1.7 1.7 1.6 Capex Net (cash)debt/ Equity (x) 1.2 1.6 1.6 1.6 1.6 Acquisitions Interest coverage (x) 1.1 0.5 0.6 0.8 0.9 2017 2018 2019E 2020F 385.2 (2,323.6) 28.8 286.6 407.8 1,062.0 679.5 688.9 700.5 776.1 837.3 839.4 830.9 824.8 420.4 (182.2) 524.6 125.7 70.7 (179.1) (181.2) (129.9) (165.2) (189.0) 23.8 21.4 14.0 12.0 (456.9) (276.5) (345.0) (414.0) 2021F 7.7 (496.8) 0.0 0.0 0.0 0.0 0.0 3,005.2 911.2 1,611.4 1,365.0 1,325.7 0.5 (180.5) (1,055.6) (900.0) (850.0) (900.0) 0.0 0.0 0.0 0.0 0.0 Others 402.7 421.1 0.0 0.0 0.0 CF from Investing 22.8 (894.3) 317.9 (2,231.9) (100.0) (200.0) (200.0) (799.9) (858.7) (853.4) (843.0) (832.5) (900.0) (850.0) (900.0) Growth ratios Revenue (%) (24.9) (23.0) 2.8 30.3 13.1 EBITDA (%) (12.4) (44.1) (20.0) 15.8 3.1 Net Change in Debt PBT (%) >-100 >-100 >-100 >100 42.3 Others Core net profit (%) (60.3) >-100 (66.0) >-100 80.4 CF from Financing Core EPS (%) (60.3) >-100 (66.1) >-100 80.4 Interest Expense Net Cash Flow Key Assumptions E&C Orderbook Replennishment Beginning Cash 5,000 5,500 5,500 5,500 Effect of exchg rates Ending Cash (1,047.1) 1,362.0 (1,588.8) (1,728.5) 1,439.2 (1,711.6) 1,947.5 3,519.5 0.0 0.0 0.0 1,474.2 946.2 339.4 132.8 3,519.5 (91.7) 1,716.2 0.0 (953.4) 0.0 0.0 (1,043.0) (1,032.5) (242.0) (527.9) (606.8) 1,716.2 1,474.2 946.2 Page 3 of 4
19. 12-Apr-18 (TH I S P A GE IS IN TE N TI ON AL L Y L E F T B L AN K ) Stock Recommendation Guideline BUY : HOLD : SELL : Not Rated: Total return within the next 12 months exceeds required rate of return by 5%-point. Total return within the next 12 months exceeds required rate of return by between 0-5%-point. Total return is lower than the required rate of return. The company is not under coverage. The report is for information only. Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months. Gross dividend is excluded from total return if dividend discount model valuation is used to avoid double counting. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. As of Thursday, April 12, 2018, the analyst, Kylie Chan Sze Zan , who prepared this report, has interest in the following securities covered in this report: (a) nil Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my Page 4 of 4
20. Thursday , 12 April, 2018 TA RESEARCH’S ‘DAILY COMPILED REPORTS’ For Internal Circulation Only L oc al Te ch n ic al R ep o r ts 1. D ai l y Te ch n ic a l St o ck s W at ch 2. D ai l y Mon e y F low of T e ch n i c a l St o ck W at ch 3. D ai l y Mon e y F low of FB MK L CI 4. D ai l y S t o c k S c r e e n Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my
21. Technical View Thursday , April 12, 2018 IS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Malaysia FBM KLCI: 1,869.89 (+8.91, +0.48%) Chartist: Stephen Soo Close Name 11/Apr FBMKLCI 1869.89 Tel: +603-2167 9607 Change High Low 8.91 1,871.73 1,863.30 Bollinger Bands RSI stsoo@ta.com.my Moving Averages www.taonline.com.my DMI MACD DMI Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff 1,827.66 1,853.49 1,879.33 54.33 1,848.66 1,852.69 1,851.23 24.88 29.95 15.35 (5.07) (0.88) 0.43 (1.30) SELL MACD Recent Signal DMI MACD Signal Change SELL - - AFFIN 2.44 0.04 2.45 2.40 2.20 2.39 2.57 65.38 2.47 2.37 2.39 31.25 16.64 28.85 14.61 0.04 0.02 0.02 BUY BUY - - ABMB 4.35 0.09 4.35 4.22 4.12 4.26 4.40 51.71 4.26 4.22 4.21 16.57 12.90 13.60 3.66 0.02 0.02 (0.00) BUY SELL - - AMBANK 3.98 0.06 4.00 3.94 3.64 3.97 4.29 46.32 3.83 4.00 4.23 20.34 29.34 33.41 (9.00) -0.12 -0.12 (0.00) SELL SELL - - AXIATA 5.31 -0.01 5.32 5.26 5.19 5.38 5.57 42.97 5.35 5.39 5.47 11.85 24.92 32.79 (13.07) -0.05 -0.03 (0.01) SELL SELL - - CIMB 7.20 0.16 7.21 7.05 6.96 7.17 7.37 44.00 7.10 7.18 7.14 9.87 37.45 32.85 (27.58) -0.03 0.00 (0.03) SELL SELL - - DIGI 4.53 -0.01 4.59 4.53 4.41 4.60 4.79 42.74 4.55 4.65 4.75 14.86 23.78 28.95 (8.92) -0.07 -0.06 (0.01) SELL SELL - - GAMUDA 5.15 0.02 5.16 5.12 4.92 5.08 5.24 54.38 5.09 5.06 5.04 22.52 23.35 19.71 (0.83) 0.01 0.02 (0.00) SELL SELL - - GENTING 9.04 0.10 9.04 8.94 8.65 8.88 9.10 52.66 8.79 8.88 8.95 10.15 20.42 33.92 (10.27) -0.04 -0.05 0.01 SELL BUY - - GENM 4.99 0.04 5.03 4.98 4.65 5.03 5.41 46.34 4.86 5.07 5.16 15.30 25.05 26.25 (9.75) -0.09 -0.09 0.00 SELL BUY - BUY IHH 6.06 0.03 6.13 5.99 5.94 6.05 6.15 49.54 6.03 6.04 6.03 11.15 15.31 16.25 (4.16) 0.00 0.00 (0.00) SELL SELL - - IOICORP 4.75 0.01 4.78 4.71 4.60 4.73 4.85 53.91 4.74 4.71 4.67 10.34 21.76 19.41 (11.41) 0.02 0.03 (0.01) SELL SELL - - MALAKOFF 0.90 -0.01 0.91 0.89 0.85 0.88 0.90 56.33 0.88 0.88 0.90 25.50 17.23 17.86 8.27 -0.05 -0.06 0.02 BUY BUY BUY - MAXIS 5.87 0.03 5.87 5.66 5.50 5.74 5.98 52.93 5.68 5.79 5.89 16.70 22.06 30.26 (5.37) -0.05 -0.07 0.01 SELL BUY - BUY 10.60 0.12 10.60 10.48 10.27 10.45 10.63 54.42 10.49 10.45 10.33 13.80 17.81 19.63 (4.01) 0.04 0.06 (0.01) SELL SELL - - 1.14 -0.04 1.20 1.13 1.05 1.12 1.20 55.65 1.10 1.14 1.17 23.64 17.82 19.62 5.82 -0.02 -0.02 0.01 BUY BUY BUY BUY - MAYBANK MBSB RHBBANK 5.29 0.04 5.30 5.25 5.10 5.27 5.44 49.40 5.22 5.29 5.30 12.62 26.92 25.00 (14.30) -0.03 -0.02 (0.01) SELL SELL - SIME 2.81 0.07 2.84 2.71 2.53 2.62 2.71 61.66 2.62 2.63 2.70 23.35 23.12 24.67 0.23 -0.01 -0.02 0.01 BUY BUY BUY - 15.86 -0.04 16.00 15.86 15.49 15.83 16.17 54.05 15.93 15.76 15.75 24.49 18.44 20.02 6.05 0.05 0.05 (0.01) BUY SELL - - TENAGA TM 5.54 0.05 5.65 5.54 4.99 5.37 5.74 51.75 5.23 5.49 5.71 27.11 21.64 26.76 5.47 -0.12 -0.16 0.04 BUY BUY - - WPRTS 3.40 -0.06 3.49 3.40 3.42 3.53 3.64 43.51 3.50 3.55 3.56 9.38 18.69 25.97 (9.31) -0.03 -0.02 (0.01) SELL SELL - - AIRASIA 3.93 -0.03 3.98 3.93 3.85 4.04 4.23 42.14 4.00 4.16 4.15 15.40 26.54 25.14 (11.14) -0.06 -0.04 (0.02) SELL SELL - - AIRASIA X 0.39 0.01 0.40 0.39 0.35 0.39 0.42 50.07 0.37 0.39 0.40 17.27 25.61 23.44 (8.35) -0.01 -0.01 (0.00) SELL SELL - - ARMADA 0.87 0.03 0.88 0.85 0.80 0.83 0.86 52.73 0.83 0.84 0.84 15.75 20.22 16.26 (4.47) -0.01 0.00 (0.00) SELL SELL - - DIALOG 3.16 0.02 3.18 3.13 2.67 2.92 3.17 66.68 3.02 2.83 2.76 30.83 12.00 29.82 18.83 0.10 0.08 0.01 BUY BUY - - DNEX 0.40 0.01 0.41 0.39 0.35 0.40 0.46 46.39 0.38 0.41 0.43 19.73 28.65 24.21 (8.92) -0.02 -0.02 (0.00) SELL SELL - - ECO WORLD 1.08 0.00 1.11 1.07 0.95 1.04 1.12 49.05 1.02 1.09 1.20 29.03 20.91 48.96 8.12 -0.05 -0.06 0.02 BUY BUY BUY - EKOVEST 0.90 0.01 0.93 0.89 0.82 0.94 1.05 44.13 0.90 0.95 0.97 21.47 27.00 19.05 (5.53) -0.03 -0.02 (0.01) SELL SELL - - FGV 1.84 -0.06 1.91 1.83 1.61 1.74 1.87 61.80 1.71 1.79 1.85 27.29 13.21 33.73 14.07 -0.03 -0.05 0.02 BUY BUY BUY - GADANG 0.89 -0.01 0.94 0.87 0.83 0.90 0.97 44.43 0.88 0.94 1.00 20.64 30.33 45.84 (9.69) -0.04 -0.04 0.00 SELL BUY - BUY HIAP TECK 0.43 -0.01 0.45 0.43 0.37 0.42 0.47 51.57 0.40 0.44 0.46 20.66 25.14 31.58 (4.49) -0.02 -0.02 0.00 SELL BUY - BUY HIBISCUS 0.87 0.05 0.91 0.84 0.74 0.82 0.91 48.52 0.79 0.85 0.88 21.77 28.36 18.10 (6.60) -0.03 -0.03 (0.00) SELL SELL - - KUB 0.44 0.01 0.46 0.44 0.39 0.44 0.49 48.13 0.42 0.45 0.45 24.66 26.58 14.36 (1.93) -0.01 -0.01 (0.00) SELL SELL - - MALTON 0.84 0.00 0.86 0.84 0.76 0.84 0.91 48.35 0.81 0.87 0.89 23.76 20.92 13.79 2.85 -0.03 -0.03 0.00 BUY BUY BUY - MUDAJAYA 0.73 0.06 0.73 0.68 0.63 0.71 0.78 35.62 0.68 0.75 0.80 23.86 44.55 39.53 (20.69) -0.04 -0.04 (0.00) SELL SELL - - MRCB 1.05 0.01 1.06 1.03 0.91 0.98 1.06 55.03 0.97 1.00 1.05 28.65 24.82 20.16 3.83 -0.02 -0.03 0.01 BUY BUY BUY - SAPURA ENERGY 0.65 0.11 0.67 0.55 0.45 0.51 0.58 48.07 0.52 0.53 0.60 20.61 27.48 23.51 (6.87) -0.02 -0.03 0.01 SELL BUY - - SUNCON 2.30 0.06 2.34 2.24 1.94 2.08 2.21 60.33 2.04 2.13 2.27 29.80 18.38 31.95 11.42 -0.05 -0.07 0.02 BUY BUY BUY - UEMS 0.98 -0.01 0.99 0.97 0.94 0.99 1.03 45.83 0.98 1.00 1.05 11.27 25.20 33.29 (13.92) -0.02 -0.02 0.00 SELL BUY - BUY UMWOG 0.30 0.02 0.31 0.28 0.24 0.30 0.35 42.47 0.28 0.30 0.31 16.56 29.57 22.87 (13.00) -0.02 -0.01 (0.01) SELL SELL - - WASEONG 1.44 -0.01 1.50 1.42 1.27 1.49 1.71 48.97 1.40 1.51 1.50 18.20 30.05 30.67 (11.85) -0.04 -0.03 (0.01) SELL SELL - - WCT 1.22 0.00 1.27 1.22 1.14 1.28 1.42 38.34 1.23 1.34 1.44 15.64 30.06 38.96 (14.42) -0.07 -0.07 (0.00) SELL SELL - - The table above is a compilation of actively traded stocks with some popular technical indicators. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 1 of 4
22. 12-Apr-18 Technical Comments : Bargain Ekovest & Malton Hook-up momentum indicators on Ekovest support rebound upside towards the 38.2%FR (90sen), with a convincing breakout to aim for the 50%FR (RM1.02) and 61.8%FR (RM1.14) ahead. Key chart supports are at 81sen and the 23.6%FR (76sen). DMI buy signal on Malton also support rebound upside towards 88sen, while a confirmed breakout should target the 23.6%FR (96sen), 200-day ma (RM1.06) and 38.2%FR (RM1.14) going forward. Crucial supports are at 70sen and the 3/1/17 pivot low (65sen). EKOVEST RM0.90 (+0.005) Z BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 1.05 0.93 0.81 10-day 30-day 50-day RM RM RM DAILY MACD DMI Recent Signal SELL Signal Change Recent Signal SELL Signal Change MALTON RM0.84 (UNCH) BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 0.90 0.83 0.76 10-day 30-day 50-day BUY BUY Recent Signal Signal Change DMI Recent Signal Signal Change 0.90 0.95 0.96 RM RM RM DAILY MACD 0.81 0.86 0.89 BUY Page 2 of 4
23. 12-Apr-18 Daily Money Flow of Technical Stock Watch Malaysia Chartist : Stephen Soo No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 37 38 39 39 40 41 Tel: +603-2167 9607 Total Money Flow (RM'mn) stsoo@ta.com.my www.taonline.com.my CLOSING PRICE 4-Apr 5-Apr 6-Apr 9-Apr 10-Apr (A) Total 5D MF Prv. Chg FBMKLCI (15.4) (20.3) (15.1) 34.8 (0.6) (16.6) 50.0 (35.5) 1,816 1,836 1,837 1,850 1,861 11.27 IN AFFIN ABMB AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA DIALOG DNEX ECO WORLD EKOVEST FGV GADANG HIAP TECK HIBISCUS KUB MALTON MUDAJAYA MRCB SAPURA ENERGY SUNCON UEMS UMWOG WASEONG WCT 0.0 (0.2) (0.3) (0.1) (5.2) (5.7) (1.7) 0.6 (0.4) 0.0 (2.9) (0.1) 0.1 (5.8) (0.3) (0.5) 3.9 2.0 0.1 (0.3) 0.3 (1.2) (0.3) (1.6) (0.1) (0.2) (0.4) (0.5) (0.0) (0.2) (0.6) 0.1 (0.2) (0.0) (0.6) (0.1) (0.0) (0.1) 0.1 (0.5) (0.5) 0.1 0.0 0.0 (0.2) (2.7) (2.3) (1.1) 0.3 (2.4) 0.5 0.3 0.4 (0.1) (4.0) (0.6) (0.2) (3.7) (0.5) 0.2 0.1 0.3 0.0 (0.3) 0.8 (0.5) (0.1) (0.1) (0.5) 0.0 (0.0) (0.5) 0.0 0.1 (0.0) 0.2 (1.0) (0.1) 0.0 (0.9) (0.2) (0.2) 0.1 (0.1) (0.2) 0.0 1.8 (2.0) (2.0) (0.5) 4.0 0.4 0.1 0.1 (0.0) (6.1) (0.3) (0.3) (1.0) 1.0 0.8 0.0 0.3 (0.5) (0.1) (2.5) 0.0 (0.2) (0.1) (0.6) (0.0) 0.0 (0.3) (0.0) 0.0 (0.0) (0.3) (1.0) 0.6 0.1 (0.6) (0.2) (0.5) 0.0 (0.0) 0.7 1.3 7.2 1.0 0.5 0.9 (4.0) 1.8 0.6 (0.1) 1.3 9.0 0.0 (0.2) (4.9) 0.0 1.2 0.0 0.3 (0.2) (0.1) (1.6) 0.5 (0.1) (0.3) 0.4 0.2 (0.1) (0.0) (0.0) 0.1 0.0 (0.0) 0.5 (0.0) 0.1 (0.1) (0.3) 0.1 0.0 (0.1) 0.2 1.3 (13.3) 0.2 0.4 0.9 (1.9) 0.4 0.0 0.2 0.9 20.7 (0.1) 0.0 3.9 (0.5) 0.2 0.2 0.0 1.2 0.1 (0.2) 0.0 0.1 0.3 0.7 0.0 (0.0) 1.3 (0.1) 0.1 0.0 (0.2) (0.8) 0.2 0.1 0.2 0.1 0.2 0.2 (0.4) 0.4 2.3 (12.1) (8.8) (3.9) 2.2 (4.7) 3.0 (1.9) 0.6 2.2 13.8 (1.2) (1.2) (1.9) 2.1 2.4 (0.0) 1.2 (0.7) (0.7) (5.1) (0.2) (0.4) (0.7) (0.5) 0.2 (0.2) (0.2) 0.0 0.1 0.0 (1.0) (2.4) 0.6 0.1 (1.3) (1.0) (0.8) (0.1) 0.1 0.9 1.3 5.4 3.0 2.4 1.4 (8.0) 1.4 0.5 (0.2) 1.3 15.1 0.3 0.1 (3.8) (1.0) 0.4 0.0 0.0 0.3 0.0 1.0 0.4 0.1 (0.3) 1.0 0.2 (0.1) 0.3 0.0 0.1 0.0 0.3 1.5 (0.6) (0.0) 0.5 (0.1) 0.5 0.0 (0.0) (0.5) (0.0) (20.5) (0.8) (0.0) (0.1) 2.1 (1.4) (0.5) 0.3 (0.4) 11.7 (0.1) 0.2 8.7 (0.5) (1.0) 0.1 (0.3) 1.4 0.2 1.4 (0.5) 0.2 0.6 0.3 (0.1) 0.0 1.3 (0.0) (0.1) 0.0 (0.1) (1.2) 0.3 0.1 0.3 0.3 0.2 2.33 4.18 3.61 5.26 6.90 4.40 4.85 8.68 4.59 5.90 4.67 0.85 5.39 10.34 1.03 5.15 2.55 15.70 4.93 3.45 3.93 0.35 0.81 2.94 0.34 1.01 0.82 1.66 0.83 0.37 0.71 0.39 0.74 0.67 0.86 0.51 1.99 0.95 0.29 1.25 1.15 2.39 4.28 3.81 5.25 7.01 4.38 4.97 8.84 4.89 6.03 4.71 0.86 5.53 10.48 1.11 5.24 2.60 15.82 5.13 3.48 3.93 0.37 0.82 2.99 0.36 1.00 0.83 1.71 0.84 0.38 0.77 0.41 0.80 0.66 0.92 0.52 1.99 0.96 0.24 1.31 1.18 2.36 4.25 3.69 5.26 7.06 4.49 5.09 8.73 4.88 6.05 4.70 0.87 5.70 10.48 1.08 5.10 2.60 15.74 5.38 3.50 3.93 0.36 0.81 3.00 0.36 1.03 0.82 1.69 0.82 0.40 0.75 0.40 0.80 0.62 0.98 0.50 2.02 0.94 0.24 1.30 1.14 2.38 4.30 3.74 5.26 7.02 4.53 5.12 8.90 4.94 6.05 4.69 0.88 5.79 10.46 1.11 5.17 2.61 15.88 5.47 3.47 3.93 0.37 0.81 3.10 0.38 1.01 0.84 1.73 0.87 0.40 0.76 0.42 0.83 0.63 1.00 0.52 2.01 0.94 0.25 1.37 1.21 2.40 4.26 3.92 5.32 7.04 4.54 5.13 8.94 4.95 6.03 4.74 0.91 5.84 10.48 1.18 5.25 2.74 15.90 5.49 3.46 0.00 0.39 0.84 3.14 0.40 1.08 0.90 1.90 0.90 0.44 0.83 0.44 0.84 0.67 1.04 0.54 2.24 0.98 0.28 1.45 1.22 0.02 (0.04) 0.18 0.06 0.02 0.01 0.01 0.04 0.01 (0.02) 0.05 0.03 0.05 0.02 0.07 0.08 0.13 0.02 0.02 (0.01) (3.93) 0.02 0.03 0.04 0.02 0.07 0.06 0.17 0.04 0.04 0.06 0.02 0.01 0.04 0.05 0.02 0.23 0.04 0.03 0.08 0.01 OUT IN IN IN OUT IN IN IN OUT IN OUT IN IN IN IN IN IN OUT OUT IN OUT IN IN IN OUT IN IN IN IN OUT IN OUT IN IN IN IN OUT IN IN IN IN Name (B) Cur. Chg 4-Apr 5-Apr 6-Apr 9-Apr 10-Apr Chg (A+B) DMF Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Page 3 of 4
24. 12-Apr-18 Daily Money Flow of FBMKLCI Malaysia Chartist : Stephen Soo No Name FBMKLCI Tel: +603-2167 9607 4-Apr Total Money Flow (RM'mn) 5-Apr 6-Apr 9-Apr (15.4) (20.3) (15.1) Total stsoo@ta.com.my www.taonline.com.my 10-Apr 5D MF (A) Prv. Chg (B) Cur. Chg 34.8 (0.6) (16.6) 50.0 (35.5) 1,816 1,836 1,837 1,850 1,861 11.27 4-Apr 5-Apr CLOSING PRICE 6-Apr 9-Apr (A+B) 10-Apr Chg DMF IN 1 MAYBANK (5.8) (4.0) (6.1) 9.0 20.7 13.8 15.1 11.7 10.34 10.48 10.48 10.46 10.48 0.02 IN 2 PBBANK 4.0 (5.2) (0.2) 3.8 (17.4) (15.1) 4.0 (21.1) 23.90 23.94 23.94 23.94 23.96 0.02 OUT 3 TENAGA 2.0 (0.5) 1.0 0.0 (0.5) 2.1 (1.0) (0.5) 15.70 15.82 15.74 15.88 15.90 0.02 OUT 4 CIMB (5.2) (2.7) 1.8 7.2 (13.3) (12.1) 5.4 (20.5) 6.90 7.01 7.06 7.02 7.04 0.02 OUT 5 PCHEM 1.4 (0.2) (5.2) 6.8 1.7 4.4 12.0 (5.1) 8.17 8.16 8.20 8.48 8.45 (0.03) IN 6 IHH 0.0 0.5 0.4 1.8 0.4 3.0 1.4 (1.4) 5.90 6.03 6.05 6.05 6.03 (0.02) IN 7 AXIATA (0.1) (0.2) 0.0 1.3 1.3 2.3 1.3 (0.0) 5.26 5.25 5.26 5.26 5.32 0.06 IN 8 MAXIS 0.1 (0.1) (0.0) 1.3 0.9 2.2 1.3 (0.4) 5.39 5.53 5.70 5.79 5.84 0.05 IN 9 HLBANK (1.2) 0.5 (0.7) 0.5 0.4 (0.6) 1.2 (0.0) 17.98 18.70 18.60 18.70 18.68 (0.02) IN 10 SIME PLT (0.2) (1.3) (1.1) (0.3) (0.2) (3.1) 0.9 0.1 5.51 5.50 5.50 5.52 5.80 0.28 IN 11 DIGI (5.7) (2.3) (2.0) 1.0 0.2 (8.8) 3.0 (0.8) 4.40 4.38 4.49 4.53 4.54 0.01 IN 12 NESTLE (2.3) 1.0 0.2 0.1 0.0 (1.0) (0.1) (0.1) 149.00 149.00 149.00 149.60 150.10 0.50 OUT 13 PETGAS (0.1) (0.0) (0.1) 0.6 (0.2) 0.1 0.7 (0.8) 17.90 17.98 17.98 18.20 18.10 (0.10) OUT 14 GENTING 0.6 0.3 (0.5) 0.9 0.9 2.2 1.4 (0.1) 8.68 8.84 8.73 8.90 8.94 0.04 IN 15 MISC (0.6) (0.3) (0.2) 0.6 0.5 0.1 0.8 (0.1) 7.07 7.04 7.08 7.13 7.18 0.05 IN 16 IOI CORP (2.9) 0.3 0.1 0.6 0.0 (1.9) 0.5 (0.5) 4.67 4.71 4.70 4.69 4.74 0.05 OUT 17 GENM (0.4) (2.4) 4.0 (4.0) (1.9) (4.7) (8.0) 2.1 4.59 4.89 4.88 4.94 4.95 0.01 OUT 18 KLK (0.6) (1.4) (0.2) 4.7 0.7 3.2 4.8 (4.0) 25.48 25.50 25.56 25.58 25.58 0.00 IN 19 PETDAG (0.3) 2.6 (1.5) (0.2) (0.1) 0.6 1.3 0.1 24.68 24.60 24.66 25.30 25.36 0.06 IN 20 HAP SENG (0.2) 0.1 0.1 (0.1) 0.1 (0.0) (0.1) 0.1 9.70 9.80 9.77 9.85 9.70 (0.15) IN 21 HLFG (0.1) 0.3 (0.2) 0.0 0.4 0.5 0.2 0.4 18.10 19.00 18.96 19.06 19.20 0.14 IN 22 PPB 1.0 (1.6) (0.3) 0.3 (1.2) (1.8) 0.6 (1.5) 19.00 18.78 18.76 18.42 18.54 0.12 OUT 23 TM 0.1 0.2 0.8 1.2 0.2 2.4 0.4 (1.0) 4.93 5.13 5.38 5.47 5.49 0.02 OUT 24 RHBBANK (0.5) (0.2) (0.3) (0.2) 0.0 (1.2) 0.1 0.2 5.15 5.24 5.10 5.17 5.25 0.08 IN 25 PMETAL (1.9) (0.5) (3.9) 2.0 1.3 (3.1) 5.9 (0.8) 4.19 4.18 3.85 4.38 4.67 0.29 IN 26 SIME 3.9 (3.7) (1.0) (4.9) 3.9 (1.9) (3.8) 8.7 2.55 2.60 2.60 2.61 2.74 0.13 IN 27 YTLCORP (0.3) 0.0 (0.0) 0.1 (0.1) (0.3) 0.1 (0.1) 1.31 1.39 1.43 1.44 1.42 (0.02) OUT 28 KLCCS 0.3 0.2 (0.0) 0.1 0.5 1.1 0.1 0.4 6.98 7.00 7.00 7.05 7.15 0.10 IN 29 AMBANK (0.3) 0.0 (0.2) 0.7 0.2 0.4 0.9 (0.5) 3.61 3.81 3.69 3.74 3.92 0.18 IN 30 ASTRO 0.0 0.1 0.3 0.1 0.0 0.5 (0.2) (0.1) 1.95 1.91 1.81 1.80 1.78 (0.02) OUT 24.1 (22.4) 1.7 6.1 (26.4) (20.3) 8.6 (23.8) (15.1) 44.3 (9.5) 34.8 34.1 (34.8) (0.6) 117.3 (116.8) 0.5 15 (15) 13 (17) 10 (20) 24 (6) 21 (9) (RM'mn) INFLOW OUTFLOW NET FLOW Daily Trading Participation COMPANIES INFLOW OUTFLOW Date Retail Institution Foreign Total 4-Apr 5-Apr 6-Apr 9-Apr 10-Apr 23.2% 22.1% 20.0% 22.8% 24.2% 50.5% 59.4% 40.1% 52.1% 51.2% 26.3% 18.5% 39.9% 25.0% 24.6% 100% 100% 100% 100% 100% Sources: Bloomberg, TA Securities Daily Money Flow (DMF) Formulation If previous change (A) + current change (B) > 0, then DMF = “IN”; AND if (A) + (B) < 0, then DMF = “OUT”. Money Flow (MF) Calculation The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. Daily Money Flow (DMF) Interpretation In general, money flow trends confirm price trends. As prices rise, money flows are usually positive. As prices fall, money flows are usually negative. A divergence, however, between money flow and price trend can be a signal of a future price trend change. For example, a falling stock price with a positive money flow (IN) can indicate a future rally in the price of the stock. Conversely, a rising stock price with a negative money flow (OUT) implies potential correction in the stock price. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. As of Thursday, April 12, 2018, the chartist, Stephen Soo, who prepared this report, has interest in the following securities covered in this report: (a) nil Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my Page 4 of 4
25. Technical View Thursday , April 12, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Stock Screen Malaysia End Day Census of 11.04.2018 Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Daily Stock Screen is a retail product which can be a very useful guide for momentum trading and trading ideas. The following list is derived from the screening of more than 1000 stocks currently listed on Bursa Malaysia to identify: the top 20 breakout, 20 breakdown, and 30 ‘potential’ breakout stocks which just climbed above the middle Bollinger band, with potential to appreciate toward the upper Bollinger band. [MIDDLE BOLLINGER RANGEBOUND] List of 30 Potential Breakout Stocks (Short-term BUY for upside toward Upper Bollinger Band or higher to TAKE PROFIT/ SELL) No Stock Name Price RSI Bollinger Band Moving Average Lower Middle Upper 14-day 5-day 10-day 30-day 50-day Vol 20-day avg vol 1 PETRON MALAYSIA REFINING & M 8.91 7.48 8.81 10.13 47.56 8.11 8.31 9.26 10.12 504,200 359,180 2 GLOBETRONICS TECHNOLOGY BHD 4.78 3.44 4.50 5.56 51.66 4.03 4.08 4.89 5.42 4,416,200 1,436,485 3 SHANGRI-LA HOTELS (MAL) BHD 5.69 4.65 5.25 5.84 73.95 5.50 5.47 5.14 5.09 820,400 194,765 4 SOUTHERN STEEL BERHAD 1.87 1.58 1.78 1.99 52.13 1.71 1.72 1.87 1.97 929,900 485,305 5 UNISEM (M) BERHAD 2.62 2.23 2.48 2.74 54.24 2.41 2.41 2.54 2.66 3,945,700 1,606,265 6 LION INDUSTRIES CORP BHD 1.04 0.81 0.98 1.15 50.98 0.92 0.92 1.07 1.16 3,774,700 2,216,155 7 LOTTE CHEMICAL TITAN HOLDING 6.40 5.68 6.09 6.51 61.82 5.97 6.01 6.01 5.71 3,464,200 2,059,605 8 MMS VENTURES BHD 1.48 1.13 1.36 1.58 57.07 1.22 1.27 1.41 1.47 865,200 398,455 9 GHL SYSTEMS BERHAD 1.29 0.99 1.19 1.38 54.27 1.17 1.14 1.26 1.33 1,864,600 480,320 10 INARI AMERTRON BHD 2.06 1.63 1.89 2.15 56.51 1.77 1.80 1.97 2.08 24,794,800 15,230,830 11 POWER ROOT BHD 1.39 1.20 1.34 1.48 47.17 1.35 1.37 1.43 1.55 3,013,600 891,625 12 MALAYAN FLOUR MILLS BHD 1.72 1.39 1.60 1.80 55.40 1.49 1.52 1.68 1.87 1,426,300 345,730 13 KHIND HOLDINGS BERHAD 1.91 1.72 1.86 1.99 49.19 1.91 1.90 1.90 2.00 48,500 9,265 14 CAELY HOLDINGS BHD 1.09 0.81 0.99 1.16 56.17 1.05 1.01 0.99 1.01 4,394,700 1,500,665 15 CARING PHARMACY GROUP BHD 1.63 1.42 1.56 1.70 52.42 1.50 1.53 1.59 1.73 10,000 7,185 16 KOBAY TECHNOLOGY BHD 1.15 0.86 1.04 1.22 59.50 0.97 0.97 1.13 1.03 555,700 257,490 17 GUAN CHONG BHD 1.56 1.28 1.45 1.62 54.72 1.39 1.39 1.52 1.70 320,700 185,710 18 BINTULU PORT HOLDINGS BHD 5.93 5.77 5.87 5.98 53.13 5.88 5.86 5.90 5.94 5,100 1,330 19 MALAYAN BANKING BHD 10.60 10.27 10.46 10.65 61.57 10.45 10.49 10.45 10.33 26,411,200 13,260,430 20 FELDA GLOBAL VENTURES 1.84 1.61 1.75 1.88 55.60 1.74 1.71 1.79 1.85 12,670,900 6,159,835 21 RAPID SYNERGY BHD 5.84 5.55 5.71 5.88 65.06 5.82 5.75 5.71 5.70 82,000 58,450 22 RCE CAPITAL BHD 1.37 1.11 1.25 1.40 59.99 1.17 1.19 1.30 1.37 1,227,700 297,530 23 CENTRAL INDUSTRIAL CORP BHD 1.07 0.94 1.02 1.10 58.22 0.97 0.99 1.00 1.01 9,500 1,200 24 SINO HUA-AN INTERNATIONAL 0.42 0.30 0.37 0.44 54.99 0.34 0.35 0.40 0.46 155,805,600 39,553,530 25 SASBADI HOLDINGS BHD 0.41 0.26 0.35 0.43 56.25 0.33 0.32 0.40 0.44 4,553,100 2,959,345 26 KIMLUN CORP BHD 2.15 1.99 2.08 2.16 61.12 2.05 2.05 2.09 2.14 81,200 55,900 27 PUC BHD 0.28 0.14 0.22 0.29 62.11 0.25 0.24 0.22 0.23 147,197,500 48,643,700 28 KUMPULAN PERANGSANG SELANGOR 1.31 1.19 1.26 1.32 59.41 1.28 1.28 1.26 1.28 334,900 177,290 29 GABUNGAN AQRS BHD 1.77 1.47 1.63 1.78 60.77 1.67 1.63 1.68 1.76 4,578,100 1,299,425 30 CCK CONSOLIDATED HOLDINGS BH 1.40 1.25 1.33 1.41 64.36 1.33 1.32 1.31 1.25 1,951,000 857,580 Raw data sourced from Bloomberg *Note: To qualify in this list above, the first sorting criteria is stock price must have just climbed or stayed ABOVE the middle Bollinger Band, followed by a second criteria that trading volume for the day must be significantly strong. This is a good watch list for momentum traders looking for short-term BUY ideas, as they are laggards with good upside potential towards the upper Bollinger band or higher to TAKE PROFIT/SELL. Caveat: Some stocks may continue to stay range bound and trade sideways, hence traders should refer to their respective charts to spot accumulation (volume growth) or breakout patterns. INTERPRETATION OF TECHNICAL INDICATORS: Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day, and negative if it remains below this average. 14-day RSI: A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day SMA should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day SMA is bearish and imply further near-term downside risk. Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders will buy on price breaks above the upper band, and sell when price breaks below the lower band. Alternatively, a sharp move that originates at one band tends to go all the way to the other band, a useful observation when projecting price targets. Page 1 of 2
26. *Note: To qualify in the breakout list below, the first sorting criteria is stock price must close ABOVE the upper Bollinger Band, followed by a second criteria that trading volume for the day must be significantly higher than the 20-day average volume, which signal a bullish breakout. Caveat: We would caution momentum traders that a highly overbought 14-day RSI reading (> 80) and share price pullback BELOW the upper Bollinger Band are early warning signals to exit buy breakout trades. [UPPER BOLLINGER BREAKOUT] Top 20 Breakout Stocks (Generally BULLISH, but can be short-term TAKE PROFIT/ SELL guide) No Stock Name Price RSI Bollinger Band Moving Average Lower Middle Upper 14-day 5-day 10-day 30-day 50-day 19.60 18.51 18.97 19.43 64.18 18.86 18.88 19.19 18.30 2 HARTALEGA HOLDINGS BHD 6.61 5.55 6.02 6.49 70.74 6.20 6.13 5.86 3 AEON CO (M) BHD 2.00 1.70 1.80 1.90 72.83 1.79 1.79 4 IMASPRO CORP BHD 2.04 1.76 1.86 1.96 83.11 1.90 1.87 25.36 24.38 24.84 25.29 65.06 24.92 24.83 24.86 1 CARLSBERG BREWERY MALAYSIA B 5 PETRONAS DAGANGAN BHD Vol 20-day avg vol 204,800 211,125 5.83 5,979,000 3,126,545 1.77 1.69 3,228,000 1,627,490 1.84 1.83 24,000 21,055 24.88 568,700 604,465 6 SUNWAY CONSTRUCTION GROUP BH 2.30 1.92 2.08 2.24 64.21 2.05 2.04 2.13 2.27 2,537,300 1,581,860 7 SIME DARBY BERHAD 2.81 2.50 2.63 2.75 66.81 2.62 2.62 2.63 2.70 23,368,200 12,173,890 8 MALAYSIA AIRPORTS HLDGS BHD 9.12 8.76 8.91 9.06 65.01 8.97 8.93 8.84 8.86 2,104,900 2,582,275 9 CAHYA MATA SARAWAK BHD 4.40 3.60 3.97 4.35 64.46 3.78 3.83 4.04 4.13 1,811,300 484,245 10 SAPURA ENERGY BHD 0.65 0.45 0.53 0.60 63.54 0.52 0.52 0.53 0.60 607,914,200 149,737,300 11 CLOUDARON GROUP BHD 0.35 0.16 0.23 0.30 74.32 0.27 0.25 0.23 NA 14,500 12 PETRONAS CHEMICALS GROUP BHD 8.51 8.03 8.25 8.47 67.28 8.29 8.27 8.16 8.12 10,310,000 - 13 HIL INDUSTRIES BERHAD 0.80 0.63 0.70 0.76 63.69 0.67 0.68 0.72 0.77 38,500 48,740 14 PRESTARIANG BHD 1.62 1.15 1.36 1.58 65.71 1.31 1.30 1.44 1.52 1,086,100 312,790 2,749,375 5,977,565 15 ECONPILE HOLDINGS BHD 1.15 0.92 1.02 1.12 64.60 1.02 1.00 1.03 1.10 4,276,300 16 YTL HOSPITALITY REIT 1.18 1.07 1.11 1.15 67.32 1.11 1.11 1.12 1.14 2,187,900 995,125 17 TOP GLOVE CORP BHD 10.16 9.50 9.82 10.13 59.13 9.84 9.84 9.75 9.64 9,053,700 3,536,335 18 MMAG HOLDINGS BHD 0.23 0.15 0.17 0.20 75.29 0.16 0.17 0.18 0.17 118,144,200 1,525,200 19 QL RESOURCES BHD 5.18 4.85 5.00 5.16 67.66 5.04 5.04 4.96 4.92 669,100 1,346,035 20 TAS OFFSHORE BHD 0.33 0.25 0.28 0.31 65.64 0.27 0.27 0.28 0.29 1,744,700 157,370 Raw data sourced from Bloomberg *Note: As for the top 20 breakdown list below, the sole sorting criteria is stock price must close significantly BELOW the lower Bollinger Band, with the largest distance from the lower band at the top of the table, signaling a severe sell-off which is bearish. Caveat: A stock should bottom out if share price moves ABOVE the falling lower Bollinger Band, which can be a good buy signal for technical rebound upside after the sharp sell-off. [LOWER BOLLINGER BREAKDOWN] Top 20 Breakdown Stocks (Generally BEARISH, but can be short-term BUY guide) No Stock Name Price Bollinger Band Lower Middle Upper RSI 14-day Moving Average 5-day 10-day 30-day 50-day Vol 20-day avg vol 1 TRANSOCEAN HOLDINGS BHD 0.35 0.45 0.58 0.70 33.44 0.58 0.58 0.62 0.61 100 2,175 2 SUNGEI BAGAN RUBBER (M) 3.30 3.34 3.47 3.59 34.67 3.40 3.44 3.49 3.48 5,000 3,240 3 TAFI INDUSTRIES BHD 0.32 0.34 0.39 0.44 24.60 0.36 0.37 0.40 0.41 10,000 900 4 PLS PLANTATIONS BHD 0.80 0.81 0.86 0.91 20.49 0.83 0.85 0.90 1.01 30,000 3,545 5 TEO GUAN LEE CORP BHD 0.93 0.94 1.13 1.32 22.30 1.02 1.09 1.21 1.27 5,000 680 6 DAIBOCHI PLASTIC & PACKAGING 2.20 2.21 2.31 2.40 35.24 2.28 2.28 2.34 2.31 2,800 78,785 78,535 7 TEXCHEM RESOURCES BERHAD 0.82 0.82 0.87 0.92 26.62 0.84 0.86 0.89 0.89 253,600 8 SEE HUP CONSOLIDATED BHD 1.27 1.27 1.30 1.33 41.92 1.29 1.29 1.35 1.28 400 14,150 9 TPC PLUS BHD 0.37 0.37 0.39 0.42 33.59 0.38 0.39 0.40 0.40 86,000 55,510 10 SCANWOLF CORP BHD 0.24 0.24 0.27 0.30 32.62 0.26 0.26 0.27 0.27 11,000 31,645 11 EUPE CORP BHD 0.87 0.87 0.92 0.97 41.09 0.91 0.91 0.92 0.95 200 18,550 12 ARK RESOURCES BHD 0.31 0.31 0.38 0.45 14.99 0.33 0.35 0.39 0.43 500 25 13 WESTPORTS HOLDINGS BHD 3.40 3.40 3.52 3.64 39.18 3.47 3.50 3.55 3.56 1,038,400 1,181,070 14 DKSH HOLDINGS MALAYSIA BHD 3.82 3.82 3.87 3.91 42.25 3.88 3.87 3.88 3.87 10,300 52,160 15 EKA NOODLES BHD 0.06 0.06 0.07 0.08 31.94 0.06 0.07 0.07 0.08 333,900 324,390 16 XIN HWA HOLDINGS BHD 1.08 1.08 1.12 1.15 41.82 1.11 1.12 1.12 1.13 16,500 17,365 17 YTL LAND & DEVELOPMENT BHD 0.46 0.46 0.48 0.51 30.82 0.47 0.48 0.49 0.50 314,000 117,845 32,655 18 UOA REAL ESTATE INVESTMENT 1.36 1.36 1.46 1.57 23.60 1.41 1.44 1.48 1.52 20,000 19 PELANGI PUBLISHING GROUP BHD 0.47 0.47 0.51 0.54 40.11 0.49 0.50 0.51 0.51 9,000 17,950 20 CYMAO HOLDINGS BHD 0.30 0.30 0.31 0.33 39.03 0.31 0.31 0.32 0.32 21,900 17,850 Raw data sourced from Bloomberg S Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. As of Thursday, April 12, 2018, the chartist, Stephen Soo, who prepared this report, has interest in the following securities covered in this report: (a) nil Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my Page 2 of 2
27. Thursday , 12 April, 2018 TA RESEARCH’S ‘DAILY COMPILED REPORTS’ For Internal Circulation Only As i an Te ch n ic al R ep o r ts 1. Fore i gn Te ch n i ca l St o c k W at ch ( A US ) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my
28. Technical View Thursday , April 12, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Australia ASX: 5,828.70 (-28.27, -0.48%) Chartist: Stephen Soo Close Name 11-Apr ASX 200 5828.70 BHP BILLITON 29.44 RIO TINTO COMMONW BK AUSTR WESTPAC BANKING Tel: +603-2167 9607 Change High Low Bollinger Bands Lower Mid RSI Upper -28.27 5864.00 5825.30 5701.26 5865.42 6029.58 14d stsoo@ta.com.my Moving Averages 10d 30d www.taonline.com.my DMI Diff Line Signal Diff MACD DI + DI - 24.65 26.48 18.38 (1.83) -40.69 -41.14 0.445 SELL BUY 27.04 30.02 12.81 (2.98) -0.26 -0.31 0.046 SELL BUY BUY 29.60 ADX DMI 48.74 5792.81 5899.71 5918.23 29.12 50d MACD Recent Signal 0.56 29.71 29.39 28.20 28.81 29.41 48.18 28.66 76.50 1.00 77.36 76.34 72.07 74.58 77.08 51.44 73.74 75.55 76.93 28.02 32.22 23.75 (4.20) -0.86 -1.01 0.149 SELL 73.64 -0.72 74.30 73.38 70.83 74.23 77.62 49.91 72.89 74.83 75.54 22.47 28.51 24.74 (6.04) -0.71 -0.86 0.149 SELL BUY 29.13 -0.41 29.48 29.03 28.21 29.28 30.36 51.67 28.87 29.69 30.04 26.70 25.74 24.24 0.96 -0.31 -0.39 0.078 BUY BUY AUST AND NZ BANK 26.89 -0.31 27.22 26.84 26.24 27.57 28.90 41.99 26.97 27.93 28.03 20.35 31.44 29.81 (11.08) -0.40 -0.35 (0.046) SELL SELL NATL AUST BANK 28.84 -0.31 29.16 28.74 27.98 29.17 30.36 49.92 28.69 29.48 29.33 24.03 25.26 19.04 (1.23) -0.23 -0.23 0.001 SELL BUY WESFARMERS 41.34 -0.65 41.83 41.20 40.22 41.94 43.66 52.09 41.68 41.66 41.74 26.30 19.38 15.38 6.92 -0.01 0.00 (0.010) BUY SELL WOODSIDE PETRO 30.44 0.37 30.63 30.25 28.34 29.26 30.18 57.57 29.62 29.11 30.11 23.84 15.24 16.82 8.60 0.05 -0.13 0.185 BUY BUY NEWCREST MINING 19.94 0.22 19.96 19.68 19.29 19.82 20.34 39.67 19.77 20.42 21.20 22.01 34.48 29.45 (12.47) -0.44 -0.51 0.076 SELL BUY WESTFIELD GROUP 8.73 -0.10 8.80 8.72 8.36 8.59 8.81 61.47 8.60 8.64 8.71 32.74 18.85 26.67 13.89 0.01 -0.04 0.046 BUY BUY FORTESCUE METALS 4.47 0.03 4.52 4.42 4.15 4.56 4.97 42.66 4.38 4.68 4.85 16.95 32.10 35.21 (15.15) -0.16 -0.15 (0.009) SELL SELL QBE INSURANCE 9.58 0.02 9.68 9.53 9.37 9.73 10.08 38.13 9.59 9.84 10.14 15.93 25.89 30.88 (9.96) -0.17 -0.18 0.005 SELL BUY ORIGIN ENERGY 8.86 0.05 8.93 8.80 8.59 8.87 9.16 47.53 8.81 8.88 8.93 16.97 25.98 12.99 (9.01) -0.05 -0.03 (0.012) SELL SELL AMP 4.72 -0.10 4.84 4.72 4.74 5.10 5.46 23.36 4.94 5.18 5.20 8.24 38.02 35.47 (29.78) -0.12 -0.08 (0.036) SELL SELL SANTOS 5.97 0.03 5.98 5.90 4.48 5.28 6.09 75.51 5.58 5.18 5.13 49.42 12.68 28.55 36.74 0.23 0.14 0.093 BUY BUY MACQUARIE GROUP 0.70 104.14 103.05 100.09 103.96 107.82 49.67 102.26 103.73 103.31 18.74 24.90 17.77 (6.16) -0.52 -0.22 (0.303) SELL SELL SUNCORP GROUP 13.55 -0.02 13.59 13.46 13.21 13.55 13.90 52.37 13.41 13.60 13.51 19.83 19.48 14.73 0.34 -0.05 -0.04 (0.006) BUY SELL ORICA 18.83 0.19 18.86 18.50 17.55 18.24 18.92 59.33 18.00 18.27 18.47 31.78 20.80 17.03 10.98 -0.11 -0.14 0.033 BUY BUY 7.49 0.09 7.52 7.43 7.00 7.19 7.38 57.24 7.25 7.22 7.35 27.27 19.25 14.18 8.01 -0.01 -0.04 0.036 BUY BUY OIL SEARCH COCA-COLA AMATIL 103.79 8.88 -0.11 9.03 8.86 8.59 8.82 9.04 62.02 8.82 8.82 8.67 29.73 13.46 20.64 16.27 0.06 0.04 0.017 BUY BUY 14.15 -0.13 14.27 14.08 13.83 14.13 14.42 54.32 14.05 14.12 14.20 29.61 22.33 11.53 7.28 -0.04 -0.06 0.020 BUY BUY STOCKLAND 4.01 -0.04 4.03 4.00 3.94 4.06 4.17 49.40 4.02 4.06 4.05 22.01 20.59 9.12 1.41 -0.01 -0.02 0.003 BUY BUY ALUMINA 2.52 -0.07 2.63 2.50 2.25 2.40 2.55 68.31 2.43 2.36 2.35 39.52 13.82 20.45 25.69 0.04 0.02 0.016 BUY BUY 17.09 -0.11 17.27 17.02 16.90 17.52 18.14 45.00 17.27 17.58 17.36 22.48 27.50 15.56 (5.02) -0.08 -0.02 (0.059) SELL SELL QANTAS AIRWAYS 6.10 0.01 6.14 6.04 5.81 5.96 6.12 64.20 5.94 5.91 5.65 26.75 16.33 27.22 10.42 0.09 0.09 (0.009) BUY SELL SIMS METAL MGMT 14.65 0.03 14.72 14.52 13.62 15.01 16.39 40.99 14.39 15.55 15.96 18.96 33.60 33.63 (14.64) -0.55 -0.52 (0.027) SELL SELL AMCOR COMPUTERSHARE The table below consists of the top 30 ASX 200 Index component stocks, weighted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last two columns are auto generated. Page 1 of 3
29. 12-Apr-18 Corporate News : Woodside Petroleum’s free cash flow will improve as the Wheatstone LNG project’s first liquefaction facility started production in October and a second is scheduled in 2018. – Bloomberg. Technical Comments: Positive technical momentum should enhance upside momentum on Woodside Petroleum towards the 61.8%FR (AUD31.57), with a confirmed breakout to challenge the 76.4%FR (AUD33.46), and the peak of 29/05/15 (AUD36.53) acting as the stronger upside hurdle. Immediate support is capped at the 23.6%FR (AUD26.61). WOODSIDE PETROLEUM AUD30.44 (+0.37) BOLLINGER BANDS Upper Middle Lower AUD AUD AUD SIMPLE MOVING AVERAGES 30.18 29.26 28.34 10-day 30-day 50-day DMI Recent Signal AUD AUD AUD 29.62 29.11 30.11 DAILY MACD BUY Recent Signal BUY Page 2 of 3
30. 12-Apr-18 INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Target Stock Name Close BHP AU BHP BILLITON LTD 29.44 30.75 RIO AU RIO TINTO LTD 76.50 80.23 CBA AU COMMONW BK AUSTR 73.64 WBC AU WESTPAC BANKING ANZ AU AUST AND NZ BANK Ticker Price % upside EPS ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 4% 1.71 1.51 13.3 15.1 3.784 3.390 32.16 22.06 -0.44 5% 4.86 4.49 12.2 13.2 3.827 3.429 82.73 56.72 0.91 80.08 8% 5.60 5.85 13.2 12.6 5.891 6.071 87.74 71.45 -8.34 29.13 33.31 13% 2.46 2.48 11.9 11.8 6.584 6.735 35.30 28.32 -7.08 26.89 30.42 12% 2.34 2.42 11.5 11.1 5.984 6.147 32.95 26.21 -6.44 NAB AU NATL AUST BANK 28.84 32.33 11% 2.27 2.47 12.7 11.7 6.865 6.810 34.09 28.01 -2.47 WES AU WESFARMERS LTD 41.34 42.81 3% 2.43 2.47 17.0 16.7 5.256 5.319 45.29 39.52 -6.93 WPL AU WOODSIDE PETRO 30.44 33.00 8% 1.49 1.49 15.8 15.9 3.844 3.729 34.59 27.85 -6.95 NCM AU NEWCREST MINING 19.94 21.68 8% 0.38 0.88 40.3 17.5 0.797 1.284 25.33 19.26 -12.62 WFD AU WESTFIELD GROUP 8.73 9.68 10% 0.35 0.38 19.4 17.9 3.013 3.127 9.77 7.28 -8.01 FMG AU FORTESCUE METALS 4.47 5.20 14% 0.41 0.38 8.4 9.0 5.011 5.123 6.08 4.18 -8.40 QBE AU QBE INSURANCE 9.58 11.08 14% 0.54 0.66 13.8 11.2 3.727 4.468 13.62 9.41 -10.30 ORG AU ORIGIN ENERGY 8.86 9.70 9% 0.60 0.75 14.7 11.8 0.361 2.427 9.78 6.71 -5.94 AMP AU AMP LTD 4.72 5.44 13% 0.35 0.37 13.5 12.8 6.229 6.483 5.49 4.72 -9.06 9.54 STO AU SANTOS LTD 5.97 5.43 -10% 0.25 0.25 18.8 18.4 0.402 1.089 6.20 2.87 MQG AU MACQUARIE GROUP 103.79 105.65 2% 7.18 7.59 14.5 13.7 4.886 5.211 107.68 82.28 4.18 SUN AU SUNCORP GROUP LT 13.55 14.05 4% 0.79 0.97 17.2 13.9 5.343 5.638 15.24 12.43 -2.24 18.83 17.78 -6% 0.93 1.12 20.3 16.9 2.618 3.096 21.39 16.91 4.03 7.49 7.95 6% 0.26 0.28 22.1 20.6 1.589 1.696 8.13 6.15 -3.85 ORI AU ORICA LTD OSH AU OIL SEARCH LTD CCL AU COCA-COLA AMATIL 8.88 8.50 -4% 0.54 0.55 16.6 16.0 5.034 5.135 10.80 7.52 4.35 AMC AU AMCOR LTD 14.15 15.39 8% 0.64 0.71 17.0 15.4 3.293 3.689 16.78 13.71 -8.24 SGP AU STOCKLAND 4.01 4.50 11% 0.33 0.35 12.0 11.4 6.658 6.908 4.98 3.92 -10.49 AWC AU ALUMINA LTD 2.52 2.46 -2% 0.15 0.13 12.8 15.5 5.754 5.198 2.66 1.67 3.70 CPU AU COMPUTERSHARE LT 17.09 16.43 -4% 0.64 0.72 20.8 18.4 1.878 2.036 18.36 13.33 4.85 QAN AU QANTAS AIRWAYS 6.10 6.55 7% 0.62 0.64 9.9 9.5 2.311 2.377 6.53 3.89 21.03 SGM AU SIMS METAL MGMT 14.65 16.37 10% 0.98 1.08 15.0 13.6 3.515 3.775 18.05 11.28 -7.10 Note: The above data is based on Bloomberg consensus Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. As of Thursday, April 12, 2018, the chartist, Stephen Soo, who prepared this report, has interest in the following securities covered in this report: (a) nil Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my Page 3 of 3