Bursa Malaysia Daily Market Report - 13 April

Transcription

1. Friday , 13 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 . S K P Re s o u rc e s Be rh a d : H o p e f u l to Su st a in Do u b le - Dig i t G ro w th M o m e n tu m 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 ( HK ) 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
2. Daily Market Commentary Friday , 13 April 2018 TA Research, e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (12.04.2018) Volume (mil) +/-chg (RMmn) Main Market 2,045.0 Warrants 778.8 ACE Market 435.3 Bond 8.5 ETF 0.0 LEAP 0.0 Total 3,267.5 Off Market 250.0 -864.6 0.0 -522.9 2.9 0.0 0.0 Value Value/ +/-chg Volume Up Down 2,157.4 103.2 75.9 2.0 0.0 0.0 2,338.5 -5.8 194.8 -804.3 18.6 -86.2 0.5 0.0 0.0 117.6 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) 230.0 10.0 3.0 2.0 1.5 1.4 349 163 62 5 0 0 579 % chg % YTD chg 3.73 -2.48 -85.09 -2.50 0.20 -0.02 -0.57 -0.13 4.27 1.49 -12.24 4.48 24,483.05 7,140.25 7,258.34 21,660.28 2,442.71 30,831.28 3,468.61 1,767.17 6,310.80 3,180.16 1,840.27 5,815.53 293.60 71.22 1.20 -26.82 -1.51 -66.43 -11.15 3.95 -50.13 -27.92 -10.69 -13.15 1.21 1.01 0.02 -0.12 -0.06 -0.21 -0.32 0.22 -0.79 -0.87 -0.58 -0.23 -0.96 3.43 -5.59 -4.85 -1.00 3.05 1.93 0.77 -0.71 -3.84 -3.11 -4.12 0.78 0.61 0.80 1.28 0.24 2.25 Exchange Rate USD/MYR 3.8770 0.002 USD/JPY 107.27 0.460 EUR/USD 1.233 -0.0042 Counter PBBANK TENAGA IHH AXIATA HLBANK PETGAS GENTING MISC IOICORP GENM Mkt Cap. Chg (RM’mn) (RM) 92,830 90,089 50,179 48,865 38,662 36,013 34,675 31,961 29,127 28,293 0.08 0.04 0.03 0.09 0.18 0.20 0.01 0.02 0.02 0.01 News Bites Vol. (mn) 5.24 6.28 6.38 1.91 0.40 0.28 2.77 0.65 2.18 9.00 Commodities Futures Palm Oil (RM/mt) 2,427.00 -7.00 Crude Oil ($/Barrel) 67.16 0.34 Gold ($/tr.oz.) 1,339.50 -17.00 Important Dates AEMULUS - 1:4 Bonus Issue - BI of up to 109.7m shares. 1 bonus share for every 4 existing shares held. Ex-Date: 18/04/2018. Entitlement Date: 20/04/2018. LISTING ON: 23/04/2018. While stocks should fall into profit-taking consolidation, which is good to neutralize overbought momentum, higher global oil prices amid elevated geopolitical tensions in Syria could sustain trading interest in oil & gas related stocks. Key resistance from the 2 Feb peak of 1,880 should see profit-taking restrict near-term upside, while the record high of 1,896 from July 2014 act as next significant 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. Gadang shares should attract buyers on weakness towards the lower Bollinger band (83sen) for rebound upside to the 23.6%FR (93sen), with a confirmed breakout to aim for the 38.2%FR (RM1.02) and 50%FR (RM1.08) ahead. Crucial support is at the 6/4/18 low (80sen). Similarly, Mudajaya is attractive to bargain on dips to the lower Bollinger band (63sen), with crucial support from the 6/4/18 low (62sen), ahead of rebound upside towards the 23.6%FR (86sen), with next resistance seen at the 38.2%FR (RM1.02). Top 10 KLCI Movers Based on Mkt Cap. (RM) @ @ @ @ @ @ 230 81 29 2 1 0 343 1,873.62 13,135.61 14,963.97 1,865.00 Off Market TMCLIFE D&O JTIASA SUPERLN MUIPROP BAUTO 1.05 0.13 0.17 0.23 1.24 0.00 0.72 0.78 Profit-taking emerged Thursday to check recent strong gains, with selling interest increasing due to heightened geopolitical tensions in Syria between US and Russia, and sustained US-China trade tensions. Still, the KLCI added 3.73 points to close at the day's high of 1,873.62, off a low of 1,865.14, as losers beat gainers 579 to 343 on reduced turnover of 3.26bn shares worth RM2.34bn. • Malayan Banking Bhd said it is confident of maintaining its strong financial performance this year and is hopeful of achieving another record for the year ended Dec 31, 2018. • Boustead Holdings Bhd expects normalised profit growth of about 20% for the financial year ending Dec 31, 2018, driven by growth across most of its core business segments. • Astro Malaysia Holdings Bhd's wholly-owned subsidiary, MEASAT Broadcast Network Systems (MBNS), has entered into an agreement for the supply of an additional 6 transponders for a period of 12 years for a fee of USD22.5mn. • Boustead Plantations Bhd, which is buying oil palm plantation land in Labuk and Sugut in Sabah, will increase the land's fresh fruit bunch yield to 17 tonnes a hectare over the next four years from 11 tonnes a hectare currently. • KLCCP Stapled Group has formed a joint venture to develop its first transport-oriented development (TOD), comprising retail as well as office space and hotel, at Bukit Bintang and KLCC. • A unit of Iskandar Waterfront City Bhd is being sued by the Inland Revenue Board for RM32.2mn in additional taxes and penalties. • Destini Bhd has been awarded a two-year umbrella contract to undertake well abandonment integrated services for Petronas Carigali Sdn Bhd, which will start from March 29 this year till March 28, 2020 with a one-year optional extension. • Malakoff Corp Bhd has bagged an operation and maintenance (O&M) contract with a large scale solar photovoltaic power plant in Kota Tinggi, Johor, with a capacity of 29MWac. • Kerjaya Prospek Group Bhd has secured a contract worth RM357.3mn for main building works at the Bukit Bintang City Centre (BBCC) mixed development. • HSS Engineering Bhd's associate has secured a RM289.9mn contract from Mass Rapid Transit Corporation Sdn Bhd to be the independent consultant for the Klang Valley Mass Rapid Transit Line 3, Circle Line • IHH Healthcare Berhad is proposing a potential offer for Fortis Healthcare that could value the Indian company at as much as US$1.3bn, which would top the bid from a TPG-backed consortium, according to people with knowledge of the matter. • Malaysia's volume index of Wholesale & Retail Trade rose 7.1% to 158.0 points in February 2018, supported by the increase in Retail Trade (8.1%) and Wholesale Trade (7.9%). • Bank of Japan Governor Haruhiko Kuroda stressed his resolve to maintain the central bank's massive stimulus program, even as he offered an optimistic view on prospects for meeting his 2% inflation target. • The number of Americans claiming new unemployment benefits has never been so low for so long. Initial jobless claims decreased by 9,000 to a seasonally adjusted 233,000 in the week ended April 7. 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. Friday , April 13, 2018 FBMKLCI: 1,873.62 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 Interest in Oil & Gas Stocks on High Oil Price Profit-taking emerged Thursday to check recent strong gains, with selling interest increasing due to heightened geopolitical tensions in Syria between US and Russia, and sustained USChina trade tensions. Still, the KLCI added 3.73 points to close at the day’s high of 1,873.62, off a low of 1,865.14, as losers beat gainers 579 to 343 on reduced turnover of 3.26bn shares worth RM2.34bn. Key Resistance at 1,880 While stocks should fall into profit-taking consolidation, which is good to neutralize overbought momentum, higher global oil prices amid elevated geopolitical tensions in Syria could sustain trading interest in oil & gas related stocks. Key resistance from the 2 Feb peak of 1,880 should see profit-taking restrict near-term upside, while the record high of 1,896 from July 2014 act as next significant 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 Gadang & Mudajaya Gadang shares should attract buyers on weakness towards the lower Bollinger band (83sen) for rebound upside to the 23.6%FR (93sen), with a confirmed breakout to aim for the 38.2%FR (RM1.02) and 50%FR (RM1.08) ahead. Crucial support is at the 6/4/18 low (80sen). Similarly, Mudajaya is attractive to bargain on dips to the lower Bollinger band (63sen), with crucial support from the 6/4/18 low (62sen), ahead of rebound upside towards the 23.6%FR (86sen), with next resistance seen at the 38.2%FR (RM1.02). Asian Markets Rattled By Global Uncertainty Asian stocks came under pressure on Thursday as the threat of imminent U.S. military action in Syria prompted caution among investors while China’s Commerce Ministry kept trade tensions simmering. Trump declared that missiles “will be coming” in Syria, taunting Russia for supporting Syrian President Bashar al-Assad after a suspected chemical attack on rebels. Damascus and Moscow have denied any responsibility. His comments raised the prospect of direct conflict over Syria for the first time between the two world powers backing opposing sides in the seven-year-old civil war, which has also escalated a rivalry between Saudi Arabia and Iran. On the trade front, China’s Commerce Ministry issued its latest broadside against U.S. trade protectionism, saying the country would “fight back without any hesitation” and isn’t currently engaged in talks with Washington. Japanese stocks pulled back as worries about possible U.S. military action against Syria curbed investor risk appetite, while earnings reports kept the retail sector in the spot light. The Nikkei share average ended down 0.1 percent at 21,660.28. In down under, the S&P/ASX 200 closed lower by 0.23 percent at 5,815.50 as gains in the materials and energy subindexes were offset by the move lower in industrials, among other sectors. Over in South Korea, the Kospi gave up gains late in the session, slipping 0.06 percent to close at 2,442.71. Markets on the mainland, also closed in negative territory. The Shanghai composite slipped 0.87 percent to end at 3,180.20. Page 1 of 9
4. 13-Apr-18 Wall Street Bounce Back , Led by Financial Sector U.S. stocks closed with solid gains on Thursday as investors looked past the latest headlines and tweets coming from the White House and turned their focus to earnings season, which kicks off on Friday. Geopolitical issues appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent. In a tweet, Trump said: "Never said when an attack on Syria would take place. Could be very soon or not so soon at all. In any event, the United States, under my Administration, has done a great job of ridding the region of ISIS. Escalating tensions over the Middle Eastern country were seen as a major contributor to weakness in Wednesday’s session. Meanwhile, worries about a potential global trade war are persisting, as a Chinese government spokesman denied Thursday that recently announced policy changes constitute concessions to the Trump administration in the countries’ trade skirmish. Financials were particular outperformers, up 1.8 percent, with the group was in focus ahead of major banks reporting results in the coming sessions. Financial companies are among the first to report earnings each quarter, and investors expect the recent surge in volatility, along with higher interest rates, to boost trading and net interest revenue among banks, asset managers and other firms. Financial stocks in the S&P 500 are expected to see a 20 percent jump in earnings growth from the year-earlier period, according to Fact-Set, while the broader index is projected to expand earnings by 17 percent. The Dow Jones Industrial Average rose 293.60 points, or 1.21 percent, to 24,483.05, the S&P 500 gained 21.80 points, or 0.82 percent, to 2,663.99, and the Nasdaq Composite added 71.22 points, or 1.01 percent, to 7,140.25. Page 2 of 9
5. 13-Apr-18 News In Brief Corporate Astro Malaysia Holdings Bhd ’s wholly-owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBNS), has entered into an agreement with MEASAT International (South Asia) Ltd, a wholly-owned subsidiary of MEASAT Global Bhd, for the supply of an additional 6 transponders on the MEASAT-3b (M3b) satellite for a period of 12 years from 8 June 2018 until 11 June 2030 for a fee of USD22.5mn (~RM87.2mn) to be satisfied in cash. The agreement is conditional on the receipt of approval of shareholders and the board of directors of MBNS. (Bursa Malaysia) Comments: We are neutral on the latest development as the addition of transponders is expected with the on-going enhancement of the group’s services (i.e. to expand near video on demand services and the number of TV channels) to its subscribers as well as to provide back-up and recovery functions for any of the group’s existing 18 transponders on the M3b satellite. We estimate the impact to the group’s net gearing level to be negligible with 4QFY18’s of 5.7x to increase marginally to 5.8x. Maintain Buy on Astro with a TP of RM2.90/share. Serba Dinamik Holdings Bhd acquired a 49% stake in Al Sagar for total cash consideration of AED10mn (RM10.5mn). The consideration will be satisfied entirely in cash via IPO funds raised. Al Sagar imports and sells pumps, motors, valves and various safety equipment. (Bursa Malaysia) Comments: We are neutral on the acquisition as we believe it is unsubstantial relative to Serba’s size. Al Sagar’s net loss of RM2.5mn in FY16 is barely 1% of Serba’s current net profit. We deem the purchase consideration at 0.8x P/B to be fair and expect synergies to arise from the acquisition as Al Sagar holds various licenses from reputable pump OEMs. Nevertheless, we maintain our earnings forecasts and TP of RM4.15 based on 15x CY18 PER. Reiterate BUY. Malayan Banking Bhd (Maybank) said it is confident of maintaining its strong financial performance this year and is hopeful of achieving another record for the year ended Dec 31, 2018 (FY18). For FY17, Maybank registered a record net profit of RM7.5bn and rewarded its shareholders with a dividend of 55 sen per share, totalling RM5.9bn. (The Edge Markets) Boustead Holdings Bhd expects normalised profit growth of about 20% for the financial year ending Dec 31, 2018 (FY18), driven by growth across most of its core business segments. The group's pre-tax profit crossed the RM1.0bn mark in FY17 at RM1.1bn, boosted by RM555.0mn in proceeds from the disposal of plantation land. Excluding the extraordinary item, its normalised profit for FY17 stood at RM545.0mn. (The Edge Markets) IHH Healthcare Berhad is proposing a potential offer for Fortis Healthcare that could value the Indian company at as much as US$1.3bn, which would top the bid from a TPGbacked consortium, according to people with knowledge of the matter. IHH sent a letter to the Fortis board yesterday saying it may be willing to pay as much as 160 rupees per share to take over the Indian hospital operator, the people said, asking not to be identified because the information is private. (StarBiz) HSS Engineering Bhd's associate has secured a RM289.9mn contract from Mass Rapid Transit Corporation Sdn Bhd to be the independent consultant for the Klang Valley Mass Rapid Transit Line 3, Circle Line. The contract came into effect on March 6. Under the exclusive teaming arrangement between HSSI and its unit, HSS Engineering Sdn Bhd, both companies will collaborate exclusively to execute and complete the contract. (StarBiz / Bursa Malaysia) Page 3 of 9
6. 13-Apr-18 Boustead Plantations Bhd , which is buying oil palm plantation land in Labuk and Sugut in Sabah, will increase the land's fresh fruit bunch yield to 17 tonnes a hectare over the next four years from 11 tonnes a hectare currently, and has allocated RM250mn as capital expenditure for that. (The Edge Markets / Bursa Malaysia) KLCCP Stapled Group (KLCCP), which comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (REIT), said KLCC Holdings Sdn Bhd — its parent company — has formed a joint venture with a third party to develop its first transportoriented development (TOD), comprising retail as well as office space and hotel, at Bukit Bintang and KLCC. (The Edge Markets / Bursa Malaysia) Petroliam Nasional Bhd's (Petronas) new oil refinery complex in Johor, the Pengerang Integrated Complex (PIC), has been powered up and is expected to be completed and to begin operations by the first quarter of 2019. In a statement, Petronas said power has been successfully supplied to the refinery complex's critical components, including the crude distillation unit, the atmospheric residue desulphurisation unit, the hydrogen collection distribution unit, and the hydrotreating units. (The Edge Markets) Carlsberg Brewery Malaysia Bhd is keeping a close watch on the upcoming general election in case there are legislative changes post-polls that could impinge on its bottomline. The other “big” event this year on its calendar is the FIFA World Cup in mid-June. (The Edge Markets) Rex Industry Bhd said it has decided not to proceed with plans to raise RM20.8mn via rights with bonus issue after taking into consideration the current market conditions. Instead, it will consider funding its working capital and business investment/expansion plan(s) in the interim using internal funds and/or external borrowings. (The Edge Markets / Bursa Malaysia) N2N Connect Bhd is acquiring a 28% stake in Australia's first hybrid marketplace lender for A$2.8mn (RM8.3mn) cash. The target company uses the latest peer-to-peer lending technology in combination with traditional structured finance methods to fund high-yielding unsecured personal loans. (The Edge Markets / Bursa Malaysia) A unit of Iskandar Waterfront City Bhd is being sued by the Inland Revenue Board for RM32.2mn in additional taxes and penalties. Its wholly-owned subsidiary Tebrau Bay Constructions Sdn Bhd was served with a legal claim dated 15 March 2018 for the amount, together with interest and costs. (The Edge Markets / Bursa Malaysia) Perak Transit Bhd announced that Australian banking group Macquarie Bank Ltd will not be subscribing for any more of its placement shares as it has issued a notice to terminate the conditional share subscription agreement it inked with the bank. (The Edge Markets / Bursa Malaysia) Destini Bhd has been awarded a two-year umbrella contract to undertake well abandonment integrated services for Petronas Carigali Sdn Bhd, which will start from March 29 this year till March 28, 2020 with a one-year optional extension. (The Edge Markets / Bursa Malaysia) Malakoff Corp Bhd has bagged an operation and maintenance (O&M) contract with a large scale solar photovoltaic power plant in Kota Tinggi, Johor, with a capacity of 29MWac. The main scope of the O&M agreement, which is for a period of 21 years starting from December 2018, is to perform and provide services in relation to the operation, maintenance and repair of the solar plant. (The Edge Markets / Bursa Malaysia) Page 4 of 9
7. 13-Apr-18 Tycoon Tan Sri Syed Mokhtar Al-Bukhary appears to be putting in motion his succession plan at DRB-Hicom Bhd , with the appointment of his 24-year-old daughter Sharifah Sofia Syed Mokhtar Shah as non-independent and non-executive director of the diversified group effective tomorrow. Sharifah Sofia takes on the same role at Pos Malaysia Bhd, whose holding company is DRB-Hicom. Meanwhile, DRB-Hicom appointed Datuk Mohammad Zainal Shaari as non-independent and non-executive chairman of the group, replacing Tan Sri Mohd Khamil Jamil who stepped down from the position on April 1. Mohammad Zainal has also been appointed to the same post at Pos Malaysia effective tomorrow. (The Edge Markets / Bursa Malaysia) Kerjaya Prospek Group Bhd has secured a contract worth RM357.3mn for main building works at the Bukit Bintang City Centre (BBCC) mixed development. The deal involves the construction of a block of eight-storey car park podium, a six-storey car park, and two towers (one 35 storeys and one 47 storeys), comprising a total of 666 service apartment units. (The Edge Markets / Bursa Malaysia) Advancecon Holdings Bhd's wholly-owned subsidiary, Advancecon Machinery Sdn Bhd, will acquire two parcels of industrial land in Gombak from Perbadanan Kemajuan Negeri Selangor (PKNS) for RM13.8mn. In a filing to Bursa Malaysia, Advancecon said, it planned to build an in-house workshop on the land to carry out repair and maintenance services for its machinery and equipment. (Bernama / Bursa Malaysia) Petra Energy Bhd has signed a Memorandum of Understanding (MoU) with Pekat Teknologi Sdn Bhd to combine resources and expertise to pursue selective opportunities in relation to the solar photovoltaic system in the market. In a filing to Bursa Malaysia, Petra said there were no contract for the MoU as it serves as an intention of the parties to cooperate and collaborate on an exclusive basis to bid and also in terms of design and detailed engineering scope for the potential project. (Bernama / Bursa Malaysia) AirAsia X Berhad Malaysia has received its third biennial IATA Operational Safety Audit (IOSA) registration. AirAsia X, which is the long-haul, low-cost affiliate carrier of the AirAsia Group, said the registration affirmed its commitment to the highest standards of operational safety. IOSA is an internationally recognised and accepted evaluation system designed to assess an airline’s operational management and control systems and is regarded by the industry as the global benchmark for safety management. (StarBiz) In conjunction with the upcoming 14th General Election, AirAsia Berhad is offering fixed fares as low as RM99 to encourage Malaysians to return home to cast their ballots. "Because of your overwhelming response to vote for #GE14, we’re launching fixed fares TONIGHT. All fares available on airasia.com, #forthepeople," said AirAsia in a Facebook post. (New Straits Times) Dolphin International Bhd has secured a RM1.3mn contract to supply, install and commission a clean air emission system, the Electrostatic Precipitator System from Genting SDC Sdn Bhd for Genting Jambongan Oil Mill in Sabah. (The Edge Markets / Bursa Malaysia) MMS Ventures Bhd has obtained the green light from the Securities Commission Malaysia to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia. (The Edge Markets / Bursa Malaysia) Page 5 of 9
8. 13-Apr-18 N e w s I n B r i e f Economy Asia Volume Index of Wholesale & Retail Trade Rose 7.1% in February 2018 Malaysia’s volume index of Wholesale & Retail Trade rose 7.1% to 158.0 points in February 2018 as compared to February 2017. The growth was supported by the increase in Retail Trade (8.1%) and Wholesale Trade (7.9%). Seasonally adjusted volume index of Wholesale & Retail Trade increased by 0.8% as compared to the preceding month. Sales value of Wholesale & Retail Trade stood at RM97.3bn, increased 7.5% in February 2018. The sales value consists of Wholesale Trade (RM47.6bn), Retail Trade (RM39.2bn) and Motor Vehicles (RM10.5bn) businesses. The positive growth was contributed by Retail Trade (9.2%) and Wholesale Trade (7.5%) businesses. Volume index of Wholesale Trade grew 7.9% to 165.9 points in February 2018 as compared to February 2017. On a monthly basis, this volume index (seasonally adjusted) recorded positive growth 0.6% as against the previous month. Volume index of Retail Trade rose 8.1% to 165.9 points in February 2018 as compared to the same month of previous year. Compared to January 2018, seasonally adjusted volume index of Retail Trade increased by 1.0%. (Department of Statistics) BOJ's Kuroda Offers Upbeat View on Prices, Keeps Pledge on Easy Policy Bank of Japan Governor Haruhiko Kuroda stressed his resolve to maintain the central bank’s massive stimulus program, even as he offered an optimistic view on prospects for meeting his 2% inflation target. Kuroda said Japan’s economy will continue expanding moderately as rising household income drives up spending. “With the output gap improving and mediumto long-term inflation expectations seen heightening, we expect inflation to accelerate as a trend and head toward 2%,” Kuroda told a quarterly meeting of the BOJ’s regional branch managers. The BOJ will maintain its ultra-loose policy “until needed to stably and sustainably achieve” its target, Kuroda said. The central bank revised up its assessment for two of Japan’s nine regions in a report and maintained its rosy view for six areas, saying a tightening job market was supporting consumption. It described the economy as “expanding” or “expanding moderately” for six of the regions in a sign of its confidence over the strengthening recovery. A senior BOJ official also told parliament that there were promising signs in the economy that would help the bank meet its elusive price goal. “Medium- and long-term inflation expectations are recently emerging from weaknesses, while wages and inflation are rising moderately,” said BOJ Executive Director Eiji Maeda. But the central bank report cited some companies complaining that labor shortages were hurting their businesses. (Reuters) Singapore Retail Sales Rise 8.6% in February Singapore’s retail sales in February rose from a year earlier, thanks to a surge in sales of wearing apparel and footwear. Total retail sales rose 8.6% from a year earlier, after falling a revised 7.8% in the previous month, according to data from the Singapore Department of Statistics. Sales of wearing apparel and footwear grew 42.4% in February from a year ago, after contracting 15.3% the month earlier. On a month-on-month and seasonally adjusted basis however, total retail sales fell 1.7% in February after falling a revised 4.9% in the previous month, due to a continued fall of motor vehicles sales. Sales of motor vehicles fell 15.2% in February from the month before after showing an onmonth contraction of 20.9% in January. Singapore, one of the world’s most expensive places to own a vehicle, announced in October last year that it would not allow any growth in its car population from February, citing the city-state’s land scarcity and billions of dollars in planned public transport investments. (Reuters) Page 6 of 9
9. 13-Apr-18 Australia Housing Finance Declines in February The total number of owner occupied housing commitments in Australia declined for the third straight month in February , figures from the Australian Bureau of Statistics showed. Total number of owner occupied dwelling commitments dropped 0.2% month-over-month in February, slower than the 1.0% fall in January. The value of owner occupied housing commitments, excluding alternations and addition, increased 1.0% in February. The total value of investment housing commitments rose 0.5% from January. (RTT) United States U.S. Weekly Jobless Claims Hold Below 300,000 for Longest Streak on Record The number of Americans claiming new unemployment benefits has never been so low for so long. Initial jobless claims, a proxy for layoffs across the U.S., decreased by 9,000 to a seasonally adjusted 233,000 in the week ended April 7, the Labor Department said Thursday. This means claims have now held below 300,000 for 162 consecutive weeks, cementing the longest streak for weekly records dating back to 1967. The current streak eclipsed the previous longest stretch that ended in April 1970. Economists surveyed by The Wall Street Journal expected 230,000 new claims last week. The consistently low claims levels point to labor market health because they mean relatively few Americans are losing their jobs and applying for benefits to tide them over until they can find new employment. After several years of consistent job growth, firms are reluctant to let employees go in a tightening labor market in which many available workers are quickly snapped up. (WSJ) US Import Prices Unchanged on Weak Petroleum U.S. import prices were unexpectedly flat in March as a drop in the cost of petroleum products was offset by increases in the prices of food and a range of other goods. The Labor Department said last month's unchanged reading followed a slightly downwardly revised 0.3% increase in February. March's reading was the weakest since last July. Economists polled by Reuters had forecast import prices gaining 0.2% in March after a previously reported 0.4% rise in February. In the 12 months through March, import prices increased 3.6%, the biggest gain since April 2017, after advancing 3.4% in February. Last month, prices for imported petroleum decreased 1.3% after falling 0.8% in February. Excluding petroleum, import prices gained 0.1% in March after climbing 0.4% in the prior month. These prices have risen strongly this year, reflecting the dollar's depreciation against the currencies of the United States' main trading partners. (CNBC) Europe and Uni ted Kingdom Britain's RICS House Price Balance Holds at Five-Year Low A closely-watched gauge of British house prices held at a five-year low last month, reflecting soft consumer demand at a time when the Bank of England looks set to raise interest rates, property valuers said. The Royal Institution of Chartered Surveyors (RICS) said its monthly house price balance remained at zero in March, unchanged from February and the jointlowest reading since February 2013. Economists polled by Reuters had expected a slight pickup in the gauge to +2. The balance measures the difference between the percentages of surveyors reporting price rises and price falls over the previous three months. “The latest RICS results provide little encouragement that the drop in housing market activity is likely to be reversed anytime soon,” the organisation’s chief economist, Simon Rubinsohn, said. Expectations for prices over the next three months were fairly flat, but are stronger over a 12-month horizon, with surveyors predicting the biggest pick-up since May 2017. (Reuters) Page 7 of 9
10. 13-Apr-18 UK Consumer Credit Drops ‘Significantly’ The availability of consumer credit dropped “significantly” in the first quarter of 2018, according to a survey of credit conditions published on Thursday by the Bank of England. A net 38.7% of lenders reported that the availability of unsecured consumer credit — such as credit card lending and overdrafts — fell during the three months to the end of March, compared with the previous quarter. “The availability of unsecured credit to households was reported to have decreased significantly in Q1,” the BoE wrote in its report. “This was largely driven by a changing appetite to risk, with lenders also reporting that the credit scoring criteria for granting both credit card and other unsecured loan applications tightened significantly in Q1.” Consumer borrowing has helped to keep the UK economy growing following the June 2016 EU referendum, as households have borrowed or dipped into savings in order to maintain their living standards as prices have risen faster than incomes. (Financial Times) Eurozone Industrial Production Unexpectedly Falls in February A wide-ranging measure of Eurozone industry unexpectedly fell in February, echoing surveys of businesses that suggest the bloc’s economic growth may have eased in the first quarter. Industrial production fell 0.8% in February from January, marking the third straight monthly decline for the gauge. Economists had forecast a 0.1% uptick, according to a Reuters survey. Falls were the most pronounced in capital and durable goods. The former fell 3.6%, while the latter declined 2.1%. Energy was a bright spot, up 6.8%. Data from individual countries released previously suggested cold weather may have provided a boon to the energy sector. Industrial production was still up 2.9% from February 2017, but the rate of growth slowed sharply from 3.7% in January and 5.2% in the final month of 2017. Both hard data and surveys have indicated the Eurozone’s economy has fared worse this year than it had during a particularly strong growth spurt last year. Slower growth in global economies is thought to have weighed. (Financial Times) ECB Frets Over Euro Strength, Trade War Risk: Minutes European Central Bank policymakers gathering last month expressed concern over the risk of a full-fledged trade war with the United States and fretted over the potentially harmful impact of the euro’s strength, the minutes of meeting showed. With the Eurozone economy growing for five straight years, policymakers are now debating how to wean the bloc off easy money and prepare investors for normalizing policy a decade after the global financial crisis sent central banks into crisis mode. The ECB has so far moved by increments to dial back support. In March, it gave up a largely outdated pledge to raise asset buys if needed, a symbolic move that kept it on course to end its 2.55 trillion asset purchase program by the end of this year. While the euro’s firming in recent months, partly due to fears over U.S. protectionism, has not significantly curtailed demand, policymakers called the exchange rate a “significant source” of uncertainty with some predicting a more negative impact on inflation. (Reuters) Page 8 of 9
11. 13-Apr-18 Share Buy-Back 12-April 2018 Company AMPROP E &O FIMACOR GRANFLO INCKEN KFIMA KOMARK N2N P&O RCECAP SIGN SNTORIA SYSCORP TEXCYCL TNLOGIS TOMYPAK Bought Back 105,500 400,000 13,800 32,800 2,000 10,000 118,700 1,123,800 2,000 147,900 200,000 210,000 370,000 30,000 1,000 58,100 Price (RM) Hi/ Lo (RM) 0.69/0.675 1.42 1.97/1.96 0.215/0.21 0.685/0.675 1.49 0.19 0.89/0.84 1.08 1.41/1.38 0.525/0.52 0.59/0.58 0.255/0.245 0.68 1.04 0.81 0.695/0.67 1.43/1.40 1.97/1.96 0.215/0.205 0.685/0.675 1.49/1.48 0.19/0.18 0.89/0.84 1.08/1.07 1.42/1.37 0.53/0.52 0.59/0.58 0.26/0.24 0.68 1.04/1.03 0.83/0.81 Total Treasury Shares 17,411,500 28,263,747 4,475,900 9,345,800 17,566,300 436,300 7,342,300 13,313,100 11,736,293 14,120,625 12,093,000 7,541,000 4,813,800 1,768,050 4,582,795 430,100 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 9 of 9
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 12-Apr-18 AUTOMOBILE BAUTO 2.24 2.33 4.0% Buy 2,596 0.50 12.1 19.0 18.5 11.8 4.9 5.1 2.47 -9.3 1.84 21.7 1.8 MBMR 2.44 2.68 9.8% Hold 954 0.68 24.7 26.9 9.9 9.1 2.5 2.9 2.60 -6.2 2.01 21.4 10.9 PECCA 1.18 1.62 37.3% Buy 217 0.57 9.7 10.9 12.2 10.8 4.2 4.2 1.70 -30.6 1.13 4.4 -23.9 SIME 2.80 2.55 -8.9% Sell 19,042 1.56 13.2 16.4 21.2 17.1 1.2 1.5 3.06 -8.5 2.03 38.2 26.7 UMW 6.11 5.52 -9.7% Sell 7,138 1.45 28.6 40.2 21.3 15.2 2.3 3.3 6.98 -12.5 4.70 30.0 17.5 BANKS & FINANCIAL SERVICES ABMB 4.40 4.60 4.5% Buy 6,812 1.13 32.6 35.8 13.5 12.3 3.6 3.6 4.49 -2.0 3.62 21.5 7.8 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 4.00 4.70 17.5% Buy 12,057 1.43 38.1 44.4 10.5 9.0 4.5 4.5 5.70 -29.8 3.61 10.8 -9.3 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 18.90 21.30 12.7% Buy 38,662 0.85 116.8 126.8 16.2 14.9 2.5 2.5 20.02 -5.6 13.56 39.4 11.2 MAYBANK 10.54 11.50 9.1% Buy 114,916 0.99 73.8 77.9 14.3 13.5 5.2 5.2 10.60 -0.6 8.92 18.2 7.6 PBBANK 24.04 27.30 13.6% Buy 92,830 0.71 153.3 166.5 15.7 14.4 2.4 2.5 24.12 -0.3 19.86 21.0 15.7 RHBBANK 5.33 6.10 14.4% Buy 21,374 1.46 54.3 59.0 9.8 9.0 2.8 2.8 5.61 -5.0 4.71 13.2 6.6 BURSA 7.27 7.04 -3.2% Buy 5,861 0.90 29.2 30.0 24.9 24.2 5.0 5.0 7.65 -5.0 6.20 17.2 7.8 -21.0 Note: BURSA bonus issue of shares on the basis of 1 for 2. Ex-Target price RM7.04 BUILDING MATERIALS ANNJOO 3.05 4.34 42.3% Buy 1,597 1.23 43.5 46.3 7.0 6.6 7.1 8.1 3.98 -23.4 2.61 16.9 CHINHIN 1.11 1.39 25.2% Buy 618 1.00 11.4 11.1 9.7 10.0 5.7 5.1 1.49 -25.5 1.00 11.6 -8.3 CSCSTEL 1.36 1.70 25.0% Buy 502 0.78 17.4 17.9 7.8 7.6 6.9 7.0 2.05 -33.5 1.27 7.1 -11.7 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 0.88 1.69 93.1% Buy 579 1.22 14.2 18.1 6.2 4.8 3.4 3.4 1.37 -36.1 0.80 9.4 -21.2 GAMUDA 5.17 5.84 13.0% Buy 12,719 0.87 34.4 36.4 15.0 14.2 2.3 2.3 5.52 -6.3 4.58 12.9 4.2 IJM 2.76 2.96 7.2% Hold 10,012 1.26 13.7 18.6 20.1 14.8 3.4 3.4 3.60 -23.3 2.53 9.1 -9.5 CONSTRUCTION KAB 0.24 0.38 56.3% Buy 8 na 31.4 37.3 0.8 0.6 4.2 5.0 0.33 -27.3 0.20 20.0 -20.0 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 SENDAI 0.99 0.79 -19.8% Sell 769 1.46 9.9 8.7 10.0 11.3 1.0 1.0 1.39 -29.1 0.68 44.9 13.9 SUNCON 2.22 2.65 19.4% Hold 2,869 0.68 14.7 16.4 15.1 13.5 3.6 4.1 2.64 -15.9 1.82 22.0 -11.6 WCT 1.21 1.50 24.0% Sell 1,702 1.09 11.3 10.8 10.7 11.2 2.5 2.5 2.48 -51.1 1.13 7.1 -25.3 LITRAK 5.61 6.26 11.6% Hold 2,962 0.35 45.6 47.1 12.3 11.9 4.5 4.5 6.15 -8.8 5.40 3.9 1.1 CARLSBG 19.20 18.09 -5.8% Buy 5,906 0.71 87.8 91.8 21.9 20.9 4.5 4.6 21.00 -8.6 14.36 33.7 25.5 HEIM 20.92 21.64 3.4% Hold 6,320 0.40 93.0 101.6 22.5 20.6 3.6 3.8 23.04 -9.2 16.98 23.2 10.7 AEON 2.06 1.97 -4.4% Buy 2,892 0.15 7.5 8.9 27.4 23.1 2.2 2.4 2.52 -18.3 1.45 42.1 17.0 AMWAY 7.60 8.59 13.0% Buy 1,249 0.50 48.3 49.9 15.7 15.2 5.3 5.4 8.10 -6.2 6.97 9.0 4.0 F&N 33.00 33.74 2.2% Buy 12,096 0.32 122.7 145.8 26.9 22.6 2.4 2.9 34.50 -4.3 23.40 41.0 22.2 CONSUMER Brewery Retail HUPSENG 1.05 1.25 19.0% Buy 840 0.38 5.7 5.9 18.4 17.8 5.7 5.7 1.28 -18.0 1.02 2.9 -3.7 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 149.40 129.90 -13.1% Sell 35,034 0.60 322.2 360.2 46.4 41.5 2.0 2.2 163.00 -8.3 80.12 86.5 44.8 PADINI 4.75 4.67 -1.7% Sell 3,125 0.76 28.0 30.4 17.0 15.6 2.6 2.7 5.50 -13.6 2.91 63.4 -10.0 -33.0 POHUAT 1.20 1.78 48.3% Buy 264 0.55 20.1 23.1 6.0 5.2 5.0 6.7 2.07 -42.0 1.15 4.3 QL 5.17 5.41 4.6% Hold 8,388 0.64 13.3 15.5 38.8 33.3 0.9 0.9 5.24 -1.3 3.54 46.1 18.9 SIGN 0.53 0.92 75.2% Buy 120 0.74 6.6 8.7 7.9 6.0 4.8 6.7 1.07 -50.9 0.48 9.4 -25.5 23.48 34.72 47.9% Hold 6,704 1.57 170.8 168.8 13.7 13.9 6.8 6.8 47.48 -50.5 23.10 1.6 -41.3 GENTING 9.05 11.58 28.0% Buy 34,675 1.41 55.1 61.8 16.4 14.6 1.8 1.8 9.92 -8.8 8.47 6.8 -0.9 GENM 5.00 6.68 33.6% Buy 28,293 1.39 27.6 32.0 18.1 15.6 2.4 2.6 6.28 -20.4 4.59 8.9 -9.8 2.09 3.22 54.1% Buy 2,815 0.61 19.9 26.0 10.5 8.0 7.7 8.6 2.86 -26.9 2.06 1.5 -6.7 CCMDBIO 2.85 3.40 19.3% Buy 795 0.90 16.2 17.7 17.6 16.1 1.6 1.7 3.05 -6.6 1.97 44.7 12.6 IHH 6.09 6.40 5.1% Sell 50,179 0.71 11.9 15.0 51.3 40.7 0.5 0.6 6.33 -3.8 5.42 12.4 3.9 KPJ 0.92 1.13 23.5% Buy 3,855 0.58 3.9 4.3 23.4 21.0 2.4 2.6 1.14 -19.7 0.84 8.9 -5.7 HARTA 6.64 3.90 -41.3% Sell 21,991 1.09 12.6 14.4 52.8 46.1 1.1 1.3 6.64 0.0 2.44 172.7 24.3 KOSSAN 7.70 9.73 26.4% Buy 4,924 0.61 37.4 42.1 20.6 18.3 2.4 2.7 8.79 -12.4 5.62 37.0 -5.1 SUPERMX 2.58 2.70 4.7% Buy 1,692 0.55 20.0 22.6 12.9 11.4 2.0 2.4 2.92 -11.6 1.69 52.7 29.0 TOPGLOV 10.10 12.20 20.8% Buy 12,896 0.62 35.3 42.7 28.6 23.7 1.4 1.7 10.44 -3.3 4.56 121.5 26.4 KAREX 0.78 0.93 19.2% Sell 782 0.76 1.8 3.0 44.1 25.7 0.6 1.0 2.26 -65.5 0.75 4.0 -40.0 SCIENTX 7.84 10.01 27.7% Buy 3,833 0.97 67.5 79.4 11.6 9.9 2.7 3.3 9.85 -20.4 7.45 5.2 -9.5 SKPRES 1.58 2.00 26.6% Buy 1,975 0.90 10.4 13.1 15.2 12.1 3.3 4.1 2.35 -32.8 1.25 26.4 -30.7 ASTRO 2.09 2.90 38.8% Buy 10,897 0.91 12.4 13.8 16.8 15.1 6.0 6.0 2.94 -28.9 1.75 19.4 -21.1 MEDIA PRIMA 0.35 0.45 30.4% Sell 383 1.37 -3.8 -1.7 na na 0.0 0.0 1.23 -72.0 0.33 6.2 -54.6 STAR 1.11 1.20 8.1% Sell 819 1.09 6.2 5.9 17.9 18.7 8.1 8.1 2.22 -49.9 1.06 4.7 -32.7 Tobacco BAT GAMING Casino NFO BJTOTO HEALTHCARE Hospitals/ Pharmaceutical Rubber Gloves INDUSTRIAL MEDIA
13. 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 0.39 0.69 76.9% Buy 685 1.73 4.0 4.3 9.8 9.1 2.6 2.6 0.69 -43.5 0.34 16.4 -19.6 LCTITAN 6.28 7.60 21.0% Buy 14,274 na 56.3 60.9 11.1 10.3 4.0 4.3 6.53 -3.8 4.14 51.7 33.6 MHB 0.81 0.81 0.0% Sell 1,296 1.44 0.5 1.7 168.6 48.6 0.0 0.0 1.16 -30.2 0.63 29.6 -1.8 MISC 7.16 7.00 -2.2% Sell 31,961 1.10 50.1 53.8 14.3 13.3 4.2 4.2 7.90 -9.4 6.73 6.4 -3.5 PANTECH 0.55 0.69 26.6% Buy 405 1.31 6.1 6.8 9.0 8.0 5.0 5.6 0.74 -26.4 0.51 6.9 -15.5 PCHEM 8.48 9.00 6.1% Hold 67,840 0.84 52.5 54.0 16.2 15.7 3.1 3.3 8.60 -1.4 6.80 24.7 10.1 SAPNRG 0.69 0.84 22.6% Buy 4,105 2.21 -5.0 -1.7 na na 0.0 0.0 2.07 -66.9 0.40 73.4 -3.5 SERBADK 3.30 4.15 25.8% Buy 4,846 na 27.7 31.6 11.9 10.5 2.7 3.0 3.68 -10.3 1.79 84.4 1.9 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 1.36 1.57 15.4% Hold 435 0.99 12.9 13.9 10.6 9.8 0.0 0.0 1.98 -31.3 1.18 15.3 6.3 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 2.23 2.23 0.0% Sell 1,964 0.18 6.5 8.2 34.1 27.2 3.6 4.0 3.22 -30.7 2.19 1.8 -18.6 IOICORP 4.77 5.43 13.8% Buy 29,127 0.92 19.0 21.3 25.1 22.4 5.5 3.5 4.81 -0.8 4.21 13.4 7.7 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 25.98 27.76 6.9% Hold 27,668 0.64 107.6 116.0 24.1 22.4 2.0 2.2 25.98 0.0 23.66 9.8 3.9 SIMEPLT 5.59 6.27 12.2% Hold 38,017 na 19.6 20.0 28.5 28.0 2.5 2.9 6.00 -6.8 4.58 22.1 -6.8 TSH 1.37 1.81 32.1% Buy 1,892 0.52 9.3 9.6 14.7 14.3 1.7 1.8 1.82 -24.7 1.37 0.0 -17.0 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 0.51 0.40 -20.8% Sell 401 0.64 1.5 2.5 33.4 20.4 2.0 2.0 0.66 -22.8 0.45 12.2 -8.9 HUAYANG 0.47 0.58 24.7% Sell 164 0.87 0.7 3.4 70.1 13.7 1.1 1.1 1.14 -59.2 0.44 5.7 -23.8 IBRACO 0.62 0.80 30.1% Buy 305 na 7.2 10.7 8.5 5.8 4.9 6.5 0.97 -36.6 0.50 23.0 -24.5 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 1.09 1.59 45.9% Buy 2,646 0.87 11.8 11.3 9.2 9.7 6.0 6.0 1.64 -33.5 0.98 11.2 -24.8 SIMEPROP 1.41 1.51 7.1% Hold 9,589 na 7.5 7.5 18.8 18.8 2.8 2.1 1.78 -20.8 1.04 35.6 -20.8 SNTORIA 0.58 0.76 31.0% Buy 325 0.25 8.3 8.6 7.0 6.8 1.7 1.7 0.82 -29.1 0.56 3.6 -16.5 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 3.00 3.73 24.3% Buy 11,266 0.95 19.8 19.4 15.1 15.5 4.0 4.0 4.38 -31.6 2.77 8.3 -25.0 SUNWAY 1.62 1.75 8.0% Hold 7,897 0.88 11.8 12.4 13.7 13.0 3.7 3.7 1.96 -17.3 1.38 17.0 -0.6 SUNREIT 1.63 1.87 14.7% Hold 4,800 0.88 10.0 10.7 16.3 15.3 6.2 6.6 1.90 -14.2 1.48 10.1 -14.2 CMMT 1.13 1.48 31.0% Buy 2,306 0.75 7.9 8.4 14.3 13.5 7.2 7.6 1.83 -38.3 0.98 15.3 -38.3 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 1.27 -29.1 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 18.20 19.46 6.9% Buy 36,013 0.82 99.3 100.0 18.3 18.2 3.8 3.8 19.80 -8.1 15.82 15.0 4.1 TENAGA 15.90 18.22 14.6% Buy 90,089 0.61 131.3 127.5 12.1 12.5 4.1 4.0 16.34 -2.7 13.62 16.7 4.2 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 5.40 6.50 20.4% Buy 48,865 1.58 15.9 19.4 33.9 27.8 1.5 2.9 5.82 -7.2 4.54 18.9 -1.6 DIGI 4.50 5.15 14.4% Hold 34,988 1.04 19.7 20.4 22.9 22.1 4.4 4.5 5.19 -13.3 4.36 3.2 -11.8 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 5.55 7.20 29.7% Buy 20,857 0.61 22.8 24.9 24.3 22.3 3.7 4.0 6.69 -17.0 4.90 13.3 -11.9 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 25.7% Buy 433 2.51 0.0 0.3 636.1 55.3 0.0 0.0 0.25 -28.6 0.14 29.6 -5.4 INARI 1.99 3.65 83.4% Buy 6,197 0.71 13.7 15.3 14.5 13.0 5.0 5.5 2.55 -21.9 1.26 58.3 -12.2 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 8.45 10.70 26.6% Buy 1,681 0.92 73.9 86.9 11.4 9.7 3.8 3.8 14.52 -41.8 8.08 4.6 -33.0 UNISEM 2.50 2.55 2.0% Hold 1,835 1.12 19.0 20.3 13.2 12.3 4.8 4.8 4.25 -41.2 2.25 11.1 -31.5 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 87.8% Buy 311 na 2.3 3.7 10.6 6.6 2.8 4.5 0.38 -35.8 0.21 17.2 -12.5 TNLOGIS 1.04 1.45 39.4% Buy 465 0.96 10.3 10.5 10.1 9.9 4.8 4.8 1.79 -42.0 0.99 5.1 -22.4 WPRTS 3.36 4.06 20.8% Buy 11,458 0.49 15.6 20.0 21.5 16.8 1.1 1.5 4.14 -18.8 3.12 7.7 -9.2 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 28.08 30.50 8.6% Buy 71,993 1.12 212.3 246.0 13.2 11.4 2.3 2.5 29.7 -5.5 18.65 50.6 OCBC 12.84 14.30 11.4% Buy 53,702 1.20 109.5 123.3 11.7 10.4 6.7 7.7 13.6 -5.7 9.49 35.3 13.0 3.6 UOB 27.93 27.80 -0.5% Hold 46,392 1.16 216.8 244.1 12.9 12.9 2.9 2.9 29.0 -3.7 21.38 30.6 5.6 PLANTATIONS WILMAR 3.16 3.50 10.8% Buy 20,219 0.81 25.4 27.7 12.4 11.4 3.2 3.5 3.9 -18.3 2.97 6.4 2.3 IFAR 0.33 0.37 13.8% Buy 466 1.11 3.1 3.9 10.6 8.4 1.3 1.6 0.5 -36.9 0.32 3.2 -16.7 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.
14. COMPANY UPDATE Friday , April 13, 2018 FBMKLCI: 1,873.62 Sector: Technology THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TP: RM2.00 (+26.6%) SKP Resources Berhad Last Traded: RM1.58 Hopeful to Sustain Double-Digit Growth Momentum Wilson Loo, CFA Tel: +603-2167 9606 BUY wilsonloo@ta.com.my We recently met with SKP’s management. Notwithstanding the weak sentiment on the stock (-30.7% YTD), we note that business has been as usual with orders from main customers intact. Also easing concerns on FX fluctuations, management reiterated that the group remains largely sheltered via the cost pass through agreement with main customers. That aside, we are hopeful for the group to sustain its double-digit earnings growth momentum, underpinned by prospects of further contract awards from Customer X, its main customer. Elsewhere, the group continues to make progress with the development of its printed circuit board assembly solution with its first surface mount technology line expected to be commissioned in 2QFY19. We reiterate Buy on SKP with a lower TP of RM2.00/share (RM2.20/share previously) based on an unchanged PE of 16.0x. Business as Usual, Unperturbed by FX Fluctuations Management guided that post 3QFY18, business has been as usual for SKP with orders from its main customers intact. Also easing concerns on the strengthening of the Ringgit against the USD which we opine to have somewhat affected investors sentiment on export-oriented stocks, management reiterated that the group remains largely sheltered from foreign exchange fluctuations. This is considering that the group’s cost pass through agreement with its main customers whereby any cost increases or savings are fully passed through, albeit with a time lag of ~1 month. In fact, with ~97% of sales in Ringgit and ~50% of costs in USD, the group is expected to benefit transitorily from the Ringgit’s strength on lower procurement costs. Hopeful to Sustain Double-Digit Growth Momentum We remain hopeful that the group will sustain its double-digit earnings growth momentum into FY19/FY20 (26.0%/36.3%), underpinned by prospects of further contract awards from Customer X, its main customer. That said, as the group has yet to secure sizeable contracts of late, we expect near-term earnings to be flattish QoQ and FY19’s earnings growth to be backend loaded. For this reason, we have toned down our new contract assumption for FY19 by ~RM330mn and cut our earnings estimate by 11.6% to RM163.5mn. Only A Matter of Time We believe that it is only a matter of time before the group secures further contract awards from Customer X. Recall that Customer X has a track record of robust growth owing to its innovatively designed electronic consumer products. And with more products in the pipeline, we continue to view the group as a potential beneficiary of its growth via the provision of box-build assembly services given their long and established business relationship. Furthermore, the group is in a favourable position to capture business opportunities with ample space at its latest plant in Senai, Johor (JB Site 2). To date, the plant which has the potential to enlarge the group’s capacity by 90% is only ~50% occupied. www.taonline.com.my Share Information Bloomberg Code SKP MK Stock Code 7155 Listing Main Market 1250.2 Share Cap (mn) 1,975.3 Market Cap (RMmn) 2.35/1.25 52-wk Hi/Lo (RM) 4,565.2 12-mth Avg Daily Vol ('000 shrs) 46.9 Estimated Free Float (%) 0.9 Beta Major Shareholders (%) Dato Gan Kim Huat - 42.8 Kumpulan Wang Persaraan - 13.1 Forecast Revision FY18 Forecast Revision (%) Net profit (RMmn) Consensus TA's / Consensus (%) Previous Rating FY19 (11.6) 129.8 163.5 132.5 171.8 97.9 95.1 Buy (Maintained) - Financial Indicators Net gearing (%) CFPS (sen) P/CFPS (x) ROAE (%) ROAA (%) NTA/Share (RM) Price/ NTA (x) Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth FY18 Net cash 16.3 9.7 13.0 26.2 0.4 3.7 FY19 Net cash 13.2 11.9 16.0 28.4 0.5 3.2 SKP (5.4) (22.2) (7.6) 23.4 FBM KLCI 0.5 2.8 6.7 7.8 (12-Mth) Share Price relative to the FBMKLCI Source: Bloomberg Page 1 of 4
15. 13-Apr-18 PCBA : Making Progress with First SMT Line, Pending Qualification Meanwhile, the group continues to make progress with the development of its printed circuit board assembly (PCBA) solution. Its first surface mount technology (SMT) line which is housed at JB Site 2 and designated to Customer X is currently pending qualification and expected to be commissioned in 2QFY19, a slight delay from previous target to be in 1QFY19. Then, SKP will have enhanced its capabilities as a one-stop electronics manufacturing services provider. The reduced reliance on outsourcing PCBA will not only enable the group to price more competitively but also enjoy margin expansion, albeit estimated to be marginal by ~0.5pp. Facilitating further business opportunities from Customer X as well as other customers, in FY19, RM10mn in CAPEX has been earmarked to facilitate further expansion of PCBA solution. Valuation & Recommendation While lowering our TP for SKP to RM2.00/share (RM2.20/share previously) based on an unchanged PE of 16.0x and lower CY18 EPS, we are reiterating our Buy recommendation on the stock. The stock has declined by 30.7% YTD and 32.8% from its peak of RM2.35/share on 8 January 2018 and in our view, this has been overdone on uncertainties surrounding recent global trade tensions. Fellow EMS peers have suffered the same fate. That aside, we continue to like the group for its earnings growth prospects of >20% across FY18-FY20. The absence of new contract awards is a key risk. SALUT MK Equity Apr-18 Apr-18 Mar-18 Mar-18 Mar-18 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 - Mar-18 5.0 20% 10% 0% -10% -20% -30% -40% -50% -60% -70% Feb-18 10.0 FBMKLCI Index Feb-18 15.0 SALUT MK Equity PIE MK Equity Feb-18 20.0 VSI MK Equity EG MK Equity Feb-18 25.0 SKP MK Equity Jan-18 PIE MK Equity Jan-18 VSI MK Equity EG MK Equity Jan-18 SKP MK Equity Jan-18 x 30.0 Figure 2: YTD Share Price Performance Jan-18 Figure 1: Forward PE Source: Bloomberg, TA Securities Peer Comparison Table Price TP (RM) (RM) SKP Resources 1.58 2.00 Buy 1,975.3 25.9 34.2 12.8 9.5 V.S. Industry 2.30 N.R. N.R. 3,053.5 71.5 13.5 16.2 14.2 Salutica 0.62 N.R. N.R. 238.6 -38.8 125.6 15.0 6.6 EG Industries 0.51 N.R. N.R. 134.4 -24.0 -33.7 5.5 PIE Industrial 1.42 N.R. N.R. 545.3 31.6 12.0 46.1 23.6 Company Weighted average Recom. Market Cap. EPS Growth (%) (RM mn) CY18 CY19 PE (x) CY18 ROE (%) CY19 CY18 Dividend Yield (%) CY19 CY18 CY19 27.9 32.1 3.9 5.3 16.4 17.6 2.3 3.2 14.4 19.1 4.1 4.9 8.3 7.9 7.2 - - 11.4 10.1 12.4 12.2 1.7 4.2 14.3 11.9 19.6 21.8 2.8 4.0 Page 2 of 4
16. 13-Apr-18 Earnings Summary P &L FYE March (RMmn) Balance Sheet FY16 FY17 FY18F FY19F FY20F FYE March (RMmn) FY16 FY17 FY18F FY19F FY20F Revenue 1,051.4 1,943.6 2,151.5 2,480.4 3,467.2 Fixed assets 193.1 197.1 195.7 194.4 193.1 EBITDA 122.0 159.2 192.5 232.9 309.5 Associates + Subsidiaries 0.0 0.0 0.0 0.0 0.0 Depreciation & amortisation (19.1) (20.6) (21.5) (21.4) (21.3) Goodwill 0.0 0.0 0.0 0.0 0.0 (1.5) (0.2) (0.3) 3.5 5.0 Others 0.0 0.0 0.0 0.0 0.0 LT assets PBT 101.4 138.5 170.7 215.1 293.2 Taxation (19.9) (35.2) (41.0) (51.6) (70.4) 0.0 0.0 0.0 0.0 0.0 Net profit 81.5 103.3 129.8 163.5 222.8 Core net profit Net finance cost EI MI 81.5 103.3 129.8 163.5 222.8 EPS (sen) 6.5 8.2 10.4 13.1 17.8 DPS (sen) 3.5 4.2 5.2 6.5 8.9 Inventories Trade receivables Cash Others 1.8 1.8 1.7 1.7 1.6 195.0 198.9 197.4 196.0 194.7 223.5 89.8 160.8 138.7 159.9 191.1 567.2 419.7 483.9 676.4 45.6 45.8 107.6 175.2 222.2 34.1 80.3 80.3 80.3 80.3 Current assets 360.6 854.2 746.3 899.4 1,202.5 Total assets 555.6 1,053.1 943.8 1,095.4 1,397.2 Trade payables 147.5 505.0 389.5 459.5 649.8 ST borrowings 38.2 66.1 0.0 0.0 0.0 0.0 0.9 0.9 0.9 0.9 185.7 572.0 390.4 460.4 650.7 Ratios FYE March FY16 FY17 FY18F FY19F FY20F Valuations PER (x) 24.3 19.2 15.3 12.1 8.9 Others Dividend yield (%) 2.2 2.6 3.3 4.1 5.6 Current liabilities PBV (x) 5.9 4.3 3.7 3.2 2.7 Profitability ratios (%) LT borrowings 15.3 7.4 0.0 0.0 0.0 Others 16.4 18.1 18.1 18.1 18.1 LT liabilities 31.7 25.5 18.1 18.1 18.1 ROAE 33.2 26.0 26.2 28.4 33.1 ROAA 14.5 12.8 13.0 16.0 17.9 EBITDA margin 11.6 8.2 8.9 9.4 8.9 Share capital 112.0 271.3 286.0 286.0 286.0 9.6 7.1 7.9 8.7 8.5 Reserves 226.3 184.3 249.2 330.9 442.3 Shareholders' funds 338.2 455.6 535.2 616.9 728.3 0.0 0.0 0.0 0.0 0.0 555.6 1,053.1 943.8 1,095.4 1,397.2 PBT margin Liquidity ratios (x) MI Current ratio 1.9 1.5 1.9 2.0 1.8 Quick ratio 1.5 1.2 1.6 1.6 1.5 Total liabilities and equity Total liabilities/equity 0.6 1.3 0.8 0.8 0.9 FYE March (RMmn) FY16 FY17 FY18F FY19F FY20F Net debt/equity 0.0 0.1 Nt. Cash Nt. Cash Nt. Cash PBT 101.4 138.5 170.7 215.1 293.2 19.1 20.6 21.5 21.4 21.3 Net interest 1.5 0.2 0.3 (3.5) (5.0) Other non-cash 1.7 (3.8) 0.0 0.0 0.0 (95.3) 54.2 (15.4) (65.8) Leverage ratios (x) Int. coverage ratio Cash Flow 36.6 43.3 77.6 nm nm Growth ratios (%) Depreciation and amortisation Sales 69.8 84.9 10.7 15.3 39.8 Changes in WC Pretax 81.7 36.6 23.3 26.0 36.3 Interest paid Earnings 92.5 26.8 25.6 26.0 36.3 Tax paid & others Total assets (1.6) 89.5 (10.4) 16.1 27.5 Operational cash flow (231.3) 0.0 0.0 (2.2) 0.0 0.0 (22.4) (36.5) (41.0) (51.6) (70.4) (130.0) 23.6 203.5 165.9 173.4 (38.1) (24.4) (20.0) (20.0) (20.0) 1.3 3.0 1.9 3.5 5.0 Others (19.0) (42.0) 0.0 0.0 0.0 Investing cash flow (55.8) (63.3) (18.1) (16.5) (15.0) Net share issue 125.9 55.1 14.7 0.0 Dividend paid (21.2) (41.0) (64.9) (81.7) Net change in debts 53.5 19.5 (73.5) 0.0 Others (2.8) Capex Interest received 5.6 0.0 0.0 0.0 0.0 (123.7) (81.7) (111.4) Financial cash flow 155.3 Net cash flow (30.5) (0.5) 61.8 67.7 46.9 76.7 45.6 45.8 107.6 175.2 Opening cash flow 39.2 0.0 (111.4) Forex (0.7) 0.7 0.0 0.0 0.0 Closing cash flow 45.6 45.8 107.6 175.2 222.2 Page 3 of 4
17. 13-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 Friday, April 13, 2018, the analyst, Wilson Loo, 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 www.ta.com.my Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 Page 4 of 4
18. Friday , 13 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
19. Technical View Friday , April 13, 2018 IS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Malaysia FBM KLCI: 1,873.62 (+3.73, +0.20%) Chartist: Stephen Soo Close Name 12/Apr FBMKLCI 1873.62 Tel: +603-2167 9607 Change High Low 3.73 1,873.62 1,865.14 Bollinger Bands RSI stsoo@ta.com.my Moving Averages www.taonline.com.my DMI MACD DMI MACD DMI MACD Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff Recent Signal Signal Change 1,827.35 1,854.14 1,880.92 57.44 1,849.86 1,853.15 1,851.55 29.16 28.25 14.37 0.91 0.80 0.50 0.30 BUY BUY BUY BUY AFFIN 2.44 0.00 2.45 2.42 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 4.40 0.05 4.40 4.26 4.12 4.26 4.40 56.51 4.27 4.23 4.21 18.38 11.83 14.17 6.55 0.03 0.02 0.00 BUY BUY - BUY AMBANK 4.00 0.02 4.00 3.90 3.64 3.96 4.29 49.18 3.83 3.99 4.21 22.50 27.83 31.78 (5.32) -0.11 -0.12 0.01 SELL BUY - BUY AXIATA 5.40 0.09 5.44 5.30 5.19 5.38 5.57 42.15 5.33 5.39 5.46 11.38 23.94 32.99 (12.56) -0.05 -0.04 (0.01) SELL SELL - - CIMB 7.20 0.00 7.21 7.11 6.96 7.16 7.37 54.13 7.10 7.18 7.14 17.15 33.97 32.86 (16.82) -0.02 -0.01 (0.01) SELL SELL - - DIGI 4.50 -0.03 4.58 4.49 4.41 4.59 4.77 42.04 4.54 4.64 4.74 14.20 22.73 28.54 (8.53) -0.07 -0.06 (0.00) SELL SELL - - GAMUDA 5.17 0.02 5.18 5.12 4.93 5.09 5.24 55.63 5.10 5.06 5.04 24.19 22.60 18.55 1.59 0.02 0.02 0.00 BUY BUY BUY BUY GENTING 9.05 0.01 9.06 8.95 8.66 8.88 9.10 56.55 8.81 8.88 8.94 14.05 19.53 32.66 (5.48) -0.02 -0.04 0.03 SELL BUY - - GENM 5.00 0.01 5.00 4.98 4.65 5.01 5.38 48.36 4.87 5.06 5.15 18.80 24.01 25.25 (5.21) -0.08 -0.09 0.01 SELL BUY - - IHH 6.09 0.03 6.11 6.04 5.94 6.05 6.15 51.84 6.03 6.05 6.03 12.75 13.91 15.40 (1.16) 0.00 0.00 (0.00) SELL SELL - - IOICORP 4.77 0.02 4.77 4.73 4.60 4.73 4.85 55.10 4.74 4.72 4.67 13.27 20.40 19.53 (7.13) 0.02 0.02 (0.01) SELL SELL - - MALAKOFF 0.90 0.00 0.91 0.89 0.85 0.88 0.91 54.56 0.88 0.88 0.90 23.86 16.12 17.97 7.74 -0.04 -0.06 0.02 BUY BUY - - MAXIS 5.87 0.00 5.90 5.81 5.50 5.75 6.00 54.23 5.69 5.79 5.88 15.16 22.23 29.45 (7.07) -0.04 -0.06 0.02 SELL BUY - - 10.54 -0.06 10.58 10.52 10.27 10.46 10.65 61.57 10.50 10.46 10.34 20.38 16.45 18.99 3.93 0.05 0.06 (0.01) BUY SELL BUY - 1.14 0.00 1.15 1.13 1.05 1.12 1.20 50.73 1.11 1.14 1.17 22.72 16.06 19.44 6.66 -0.01 -0.02 0.01 BUY BUY - - MAYBANK MBSB RHBBANK 5.33 0.04 5.33 5.25 5.11 5.27 5.42 51.52 5.22 5.29 5.30 12.25 26.13 25.79 (13.88) -0.02 -0.02 (0.00) SELL SELL - - SIME 2.80 -0.01 2.82 2.74 2.50 2.63 2.75 66.81 2.64 2.63 2.69 26.75 20.54 23.85 6.21 0.01 -0.01 0.02 BUY BUY - - 15.90 0.04 15.98 15.88 15.51 15.84 16.17 52.18 15.94 15.77 15.75 23.01 17.32 19.60 5.69 0.04 0.05 (0.01) BUY SELL - - TM 5.55 0.01 5.60 5.48 4.99 5.37 5.74 53.79 5.26 5.47 5.70 25.25 20.16 25.65 5.09 -0.09 -0.14 0.05 BUY BUY - - WPRTS 3.36 -0.04 3.45 3.36 3.40 3.52 3.64 39.18 3.49 3.54 3.55 8.69 22.22 27.24 (13.53) -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 0.38 -0.01 0.40 0.38 0.35 0.38 0.42 52.04 0.37 0.39 0.40 20.89 24.49 22.33 (3.60) -0.01 -0.01 0.00 SELL BUY - BUY BUY TENAGA ARMADA 0.90 0.03 0.90 0.88 0.80 0.83 0.87 60.24 0.83 0.84 0.84 24.44 18.14 16.16 6.30 0.00 0.00 0.00 BUY BUY BUY DIALOG 3.15 -0.01 3.16 3.10 2.68 2.94 3.20 67.56 3.05 2.85 2.77 30.46 11.58 30.90 18.88 0.10 0.09 0.02 BUY BUY - - DNEX 0.39 -0.01 0.41 0.39 0.35 0.40 0.46 48.07 0.38 0.41 0.43 21.90 27.33 23.27 (5.43) -0.02 -0.02 0.00 SELL BUY - BUY ECO WORLD 1.07 -0.01 1.09 1.06 0.96 1.04 1.12 49.05 1.03 1.09 1.20 26.90 19.38 46.63 7.53 -0.04 -0.06 0.02 BUY BUY - - EKOVEST 0.88 -0.02 0.91 0.88 0.81 0.93 1.05 44.96 0.90 0.95 0.97 22.44 25.37 18.12 (2.92) -0.03 -0.03 (0.01) SELL SELL - - FGV 1.84 0.00 1.88 1.82 1.61 1.75 1.88 55.60 1.73 1.78 1.84 25.01 12.11 33.81 12.90 -0.02 -0.04 0.02 BUY BUY - - GADANG 0.88 -0.02 0.90 0.88 0.83 0.90 0.97 42.63 0.88 0.93 0.99 23.73 26.10 42.90 (2.37) -0.04 -0.04 0.00 SELL BUY - - HIAP TECK 0.41 -0.02 0.43 0.40 0.37 0.42 0.47 48.58 0.41 0.44 0.46 23.59 23.27 29.38 0.32 -0.02 -0.02 0.00 BUY BUY BUY - HIBISCUS 0.87 -0.01 0.91 0.87 0.74 0.82 0.91 54.23 0.80 0.85 0.88 30.34 25.25 17.46 5.09 -0.03 -0.03 0.01 BUY BUY BUY BUY KUB 0.43 -0.01 0.44 0.43 0.39 0.44 0.49 49.65 0.42 0.45 0.45 27.90 24.87 13.75 3.03 -0.01 -0.01 (0.00) BUY SELL BUY - MALTON 0.83 -0.01 0.85 0.83 0.77 0.83 0.90 48.35 0.81 0.86 0.89 23.60 20.00 13.40 3.60 -0.02 -0.03 0.01 BUY BUY - - MUDAJAYA 0.70 -0.03 0.72 0.70 0.63 0.71 0.78 50.08 0.69 0.74 0.80 35.45 36.93 36.85 (1.48) -0.04 -0.04 0.00 SELL BUY - BUY MRCB 1.03 -0.02 1.06 1.02 0.90 0.99 1.07 56.23 0.98 1.00 1.05 28.88 23.57 19.45 5.31 -0.01 -0.03 0.01 BUY BUY - - SAPURA ENERGY 0.69 0.04 0.73 0.67 0.45 0.53 0.60 63.54 0.54 0.53 0.60 35.26 21.89 23.50 13.38 -0.01 -0.02 0.02 BUY BUY BUY - SUNCON 2.22 -0.08 2.31 2.22 1.92 2.08 2.24 64.21 2.07 2.12 2.26 34.30 16.73 32.13 17.58 -0.03 -0.07 0.04 BUY BUY - - UEMS 0.95 -0.03 0.97 0.94 0.94 0.98 1.03 44.90 0.98 1.00 1.04 12.84 23.83 33.06 (10.99) -0.02 -0.02 0.00 SELL BUY - - UMWOG 0.30 0.00 0.31 0.29 0.24 0.30 0.35 50.07 0.28 0.30 0.31 24.69 26.69 21.52 (2.00) -0.01 -0.01 (0.00) SELL SELL - - WASEONG 1.47 0.03 1.50 1.45 1.27 1.48 1.69 48.19 1.40 1.51 1.50 21.35 27.92 29.43 (6.57) -0.04 -0.03 (0.01) SELL SELL - - WCT 1.21 -0.01 1.24 1.20 1.13 1.27 1.42 38.34 1.22 1.33 1.43 17.32 27.99 37.86 (10.66) -0.07 -0.07 0.00 SELL BUY - BUY 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
20. 13-Apr-18 Technical Comments : Bargain Gadang & Mudajaya Gadang shares should attract buyers on weakness towards the lower Bollinger band (83sen) for rebound upside to the 23.6%FR (93sen), with a confirmed breakout to aim for the 38.2%FR (RM1.02) and 50%FR (RM1.08) ahead. Crucial support is at the 6/4/18 low (80sen). Similarly, Mudajaya is attractive to bargain on dips to the lower Bollinger band (63sen), with crucial support from the 6/4/18 low (62sen), ahead of rebound upside towards the 23.6%FR (86sen), with next resistance seen at the 38.2%FR (RM1.02). GADANG RM0.875 (-0.015) BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 0.96 0.90 0.83 10-day 30-day 50-day RM RM RM DAILY MACD DMI Recent Signal SELL Signal Change Recent Signal BUY Signal Change MUDAJAYA RM0.70 (-0.03) BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 0.78 0.70 0.63 10-day 30-day 50-day DMI Recent Signal Signal Change 0.87 0.93 0.99 SELL Recent Signal Signal Change RM RM RM DAILY MACD 0.68 0.73 0.79 BUY BUY Page 2 of 4
21. 13-Apr-18 Daily Money Flow of Technical Stock Watch Malaysia Chartist : Stephen Soo Tel: +603-2167 9607 Total Money Flow (RM'mn) 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 stsoo@ta.com.my www.taonline.com.my CLOSING PRICE 5-Apr 6-Apr 9-Apr 10-Apr 11-Apr (A) Total 5D MF Prv. Chg FBMKLCI (20.3) (15.1) 34.8 (0.6) (17.8) (18.9) (35.5) (17.1) 1,836 1,837 1,850 1,861 1,870 8.91 OUT 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 0.1 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 0.1 0.4 0.3 0.3 5.3 (2.8) (1.6) 0.2 0.9 (0.9) (0.1) (0.2) 0.3 (3.9) (0.6) 0.2 (0.6) (2.4) (0.5) (0.1) 0.0 0.4 (0.1) (0.8) 0.0 (0.1) (0.2) (0.2) (0.0) 0.0 (1.2) (0.1) 0.1 0.0 (0.3) (0.3) 0.2 (0.2) (0.9) (0.0) (0.4) 0.2 0.2 1.0 2.8 (1.6) (5.8) (3.7) 1.8 (3.3) 2.1 0.9 0.5 2.4 15.7 (1.5) (0.4) (6.4) (2.3) 1.8 0.2 0.9 0.8 (0.5) (4.3) 0.0 (0.3) (0.4) (0.2) 0.2 (0.0) (0.8) (0.2) 0.4 0.1 (0.7) (2.7) 0.8 0.1 (2.3) (0.6) (0.8) 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 0.1 0.5 0.1 (0.9) 18.6 (3.0) (2.0) (0.6) 2.8 (1.3) (0.2) (0.4) (0.6) (24.6) (0.5) 0.2 (4.5) (1.9) (0.7) (0.3) 0.0 (0.7) (0.1) (0.6) 0.0 (0.1) (0.4) (1.0) (0.1) 0.1 (2.5) (0.1) 0.0 0.0 (0.2) 0.4 (0.0) (0.3) (1.1) (0.1) (0.7) 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 2.44 4.35 3.98 5.31 7.20 4.53 5.15 9.04 4.99 6.06 4.75 0.90 5.87 10.60 1.14 5.29 2.81 15.86 5.54 3.40 0.00 0.39 0.87 3.16 0.40 1.08 0.90 1.84 0.89 0.43 0.87 0.44 0.84 0.73 1.05 0.65 2.30 0.98 0.30 1.44 1.22 0.04 0.09 0.06 (0.01) 0.16 (0.01) 0.02 0.10 0.04 0.03 0.01 (0.01) 0.03 0.12 (0.04) 0.04 0.07 (0.04) 0.05 (0.06) 0.00 0.01 0.03 0.02 0.01 0.00 0.01 (0.06) (0.01) (0.01) 0.05 0.01 0.00 0.06 0.01 0.11 0.06 (0.01) 0.02 (0.01) 0.00 IN IN OUT OUT OUT OUT OUT OUT IN OUT OUT OUT OUT OUT OUT IN IN OUT OUT OUT OUT IN IN IN OUT IN IN OUT OUT IN OUT OUT OUT IN OUT OUT IN OUT OUT IN OUT Name (B) Cur. Chg 5-Apr 6-Apr 9-Apr 10-Apr 11-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
22. 13-Apr-18 Daily Money Flow of FBMKLCI Malaysia Chartist : Stephen Soo No Name FBMKLCI Tel: +603-2167 9607 Total stsoo@ta.com.my www.taonline.com.my 5-Apr Total Money Flow (RM'mn) 6-Apr 9-Apr 10-Apr 11-Apr 5D MF (A) Prv. Chg (B) Cur. Chg (20.3) (15.1) 34.8 (0.6) (17.8) (18.9) (35.5) (17.1) 1,836 1,837 1,850 1,861 1,870 8.91 OUT 5-Apr 6-Apr CLOSING PRICE 9-Apr 10-Apr (A+B) 11-Apr Chg DMF 1 MAYBANK (4.0) (6.1) 9.0 20.7 (3.9) 15.7 11.7 (24.6) 10.48 10.48 10.46 10.48 10.60 0.12 OUT 2 PBBANK (5.2) (0.2) 3.8 (17.4) (2.8) (21.9) (21.1) 14.6 23.94 23.94 23.94 23.96 23.96 0.00 OUT 3 TENAGA (0.5) 1.0 0.0 (0.5) (2.4) (2.3) (0.5) (1.9) 15.82 15.74 15.88 15.90 15.86 (0.04) OUT 4 CIMB (2.7) 1.8 7.2 (13.3) 5.3 (1.6) (20.5) 18.6 7.01 7.06 7.02 7.04 7.20 0.16 OUT 5 PCHEM (0.2) (5.2) 6.8 1.7 (3.3) (0.3) (5.1) (5.0) 8.16 8.20 8.48 8.45 8.51 0.06 OUT 6 IHH 0.5 0.4 1.8 0.4 (0.9) 2.1 (1.4) (1.3) 6.03 6.05 6.05 6.03 6.06 0.03 OUT 7 AXIATA (0.2) 0.0 1.3 1.3 0.3 2.8 (0.0) (0.9) 5.25 5.26 5.26 5.32 5.31 (0.01) OUT 8 MAXIS (0.1) (0.0) 1.3 0.9 0.3 2.4 (0.4) (0.6) 5.53 5.70 5.79 5.84 5.87 0.03 OUT 9 HLBANK 0.5 (0.7) 0.5 0.4 0.0 0.7 (0.0) (0.4) 18.70 18.60 18.70 18.68 18.72 0.04 OUT 10 SIME PLT (1.3) (1.1) (0.3) (0.2) 0.6 (2.2) 0.1 0.8 5.50 5.50 5.52 5.80 5.63 (0.17) IN 11 DIGI (2.3) (2.0) 1.0 0.2 (2.8) (5.8) (0.8) (3.0) 4.38 4.49 4.53 4.54 4.53 (0.01) OUT 12 NESTLE 1.0 0.2 0.1 0.0 0.2 1.5 (0.1) 0.2 149.00 149.00 149.60 150.10 150.20 13 PETGAS (0.0) (0.1) 0.6 (0.2) (0.1) 0.2 (0.8) 0.2 17.98 17.98 18.20 18.10 18.00 14 GENTING 0.3 (0.5) 0.9 0.9 0.2 1.8 (0.1) (0.6) 8.84 8.73 8.90 8.94 15 MISC (0.3) (0.2) 0.6 0.5 0.4 1.1 (0.1) (0.1) 7.04 7.08 7.13 7.18 16 IOI CORP 0.3 0.1 0.6 0.0 (0.1) 0.9 (0.5) (0.2) 4.71 4.70 4.69 17 GENM (2.4) 4.0 (4.0) (1.9) 0.9 (3.3) 2.1 2.8 4.89 4.88 18 KLK (1.4) (0.2) 4.7 0.7 (0.0) 3.8 (4.0) (0.7) 25.50 19 PETDAG 2.6 (1.5) (0.2) (0.1) (4.9) (4.0) 0.1 (4.9) 20 HAP SENG 0.1 0.1 (0.1) 0.1 0.0 0.2 0.1 (0.1) 21 HLFG 0.3 (0.2) 0.0 0.4 0.1 0.6 0.4 22 PPB (1.6) (0.3) 0.3 (1.2) (4.2) (7.0) 23 TM 0.2 0.8 1.2 0.2 (0.5) 24 RHBBANK (0.2) (0.3) (0.2) 0.0 0.2 25 PMETAL (0.5) (3.9) 2.0 1.3 (0.7) (1.9) 26 SIME (3.7) (1.0) (4.9) 3.9 (0.6) 27 YTLCORP 0.0 (0.0) 0.1 (0.1) 0.2 28 KLCCS 0.2 (0.0) 0.1 0.5 0.0 29 AMBANK 0.0 (0.2) 0.7 0.2 30 ASTRO 0.1 0.3 0.1 0.0 6.1 (26.4) (20.3) 8.6 (23.8) (15.1) 44.3 (9.5) 34.8 34.1 (34.8) (0.6) 9.4 (27.2) (17.8) 102.6 (121.6) (19.0) 13 (17) 10 (20) 24 (6) 21 (9) 16 (14) 0.10 IN (0.10) OUT 9.04 0.10 OUT 7.14 (0.04) OUT 4.74 4.75 0.01 OUT 4.94 4.95 4.99 0.04 IN 25.56 25.58 25.58 25.48 (0.10) OUT 24.60 24.66 25.30 25.36 25.36 0.00 OUT 9.80 9.77 9.85 9.70 9.70 0.00 IN (0.4) 19.00 18.96 19.06 19.20 19.14 (0.06) IN (1.5) (2.9) 18.78 18.76 18.42 18.54 18.48 (0.06) OUT 1.8 (1.0) (0.7) 5.13 5.38 5.47 5.49 5.54 0.05 OUT (0.4) 0.2 0.2 5.24 5.10 5.17 5.25 5.29 0.04 IN (0.8) (1.9) 4.18 3.85 4.38 4.67 4.78 0.11 OUT (6.4) 8.7 (4.5) 2.60 2.60 2.61 2.74 2.81 0.07 IN 0.2 (0.1) 0.3 1.39 1.43 1.44 1.42 1.42 0.00 IN 0.8 0.4 (0.5) 7.00 7.00 7.05 7.15 7.20 0.05 OUT 0.3 1.0 (0.5) 0.1 3.81 3.69 3.74 3.92 3.98 0.06 OUT 0.2 0.7 (0.1) 0.2 1.91 1.81 1.80 1.78 2.04 0.26 IN (RM'mn) INFLOW OUTFLOW NET FLOW Daily Trading Participation COMPANIES INFLOW OUTFLOW Date Retail Institution Foreign Total 5-Apr 6-Apr 9-Apr 10-Apr 11-Apr 22.1% 20.0% 22.8% 24.2% 25.1% 59.4% 40.1% 52.1% 51.2% 53.6% 18.5% 39.9% 25.0% 24.6% 21.3% 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 Friday, April 13, 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
23. Technical View Friday , April 13, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Stock Screen Malaysia End Day Census of 12.04.2018 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 Bollinger Band RSI 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 8.90 7.54 8.75 9.96 47.45 8.49 8.33 9.20 10.06 2 GLOBETRONICS TECHNOLOGY BHD 4.53 3.47 4.46 5.45 46.36 4.27 4.12 4.84 5.39 3 HEINEKEN MALAYSIA BHD 20.92 20.04 20.83 21.61 50.99 20.72 20.66 21.19 20.76 196,000 92,760 4 HENGYUAN REFINING CO BHD 9.06 6.52 8.04 9.56 51.46 8.43 7.81 8.71 10.69 6,410,400 4,321,740 5 PUBLIC BANK BERHAD 24.04 23.27 23.84 24.40 76.93 23.95 23.95 23.52 22.97 5,239,900 5,592,985 6 LOTTE CHEMICAL TITAN HOLDING 6.28 5.68 6.10 6.51 57.91 6.15 6.04 6.04 5.73 1,778,600 2,091,210 7 CAHYA MATA SARAWAK BHD 4.12 3.60 3.97 4.34 53.46 3.95 3.88 4.05 4.13 1,004,000 567,040 8 UCHI TECHNOLOGIES BHD 2.72 2.32 2.63 2.93 52.87 2.56 2.55 2.67 2.75 1,439,800 1,084,320 9 SHANGRI-LA HOTELS (MAL) BHD 5.69 4.71 5.29 5.88 73.95 5.54 5.51 5.17 5.11 210,800 216,915 1.99 1.64 1.89 2.14 52.53 1.87 1.82 1.97 2.07 14,467,800 15,825,930 17,205,000 14,149,830 10 INARI AMERTRON BHD 11 MALAYAN BANKING BHD 646,900 363,140 1,469,100 1,653,625 10.54 10.28 10.47 10.66 56.77 10.50 10.50 10.46 10.34 12 MATRIX CONCEPTS HOLDINGS BHD 2.11 1.86 2.04 2.22 56.68 1.96 1.97 2.09 2.13 597,700 589,095 13 MALAYAN FLOUR MILLS BHD 1.71 1.39 1.60 1.80 54.38 1.55 1.53 1.67 1.87 981,300 406,765 14 N2N CONNECT BHD 0.88 0.68 0.82 0.96 55.54 0.80 0.77 0.86 0.89 3,360,200 1,474,885 15 GAMUDA BHD 5.17 4.94 5.10 5.25 56.91 5.09 5.10 5.06 5.04 4,390,400 5,409,950 16 CARING PHARMACY GROUP BHD 1.63 1.42 1.56 1.70 52.42 1.53 1.54 1.59 1.72 10,000 7,415 17 GENTING BHD 9.05 8.65 8.88 9.12 56.93 8.89 8.81 8.88 8.94 2,771,600 2,823,780 14,450,570 18 DIALOG GROUP BHD 3.15 2.71 2.96 3.22 66.61 3.08 3.05 2.85 2.77 13,067,700 19 BINTULU PORT HOLDINGS BHD 5.93 5.77 5.88 5.99 53.13 5.87 5.87 5.90 5.94 5,100 1,585 20 EXCEL FORCE MSC BHD 1.17 0.97 1.10 1.22 55.60 1.08 1.06 1.11 1.22 1,028,000 817,070 21 TASCO BHD 1.86 1.56 1.73 1.90 58.09 1.70 1.68 1.78 1.87 27,200 23,150 22 FELDA GLOBAL VENTURES 1.84 1.61 1.74 1.88 55.60 1.77 1.73 1.78 1.84 5,633,900 6,604,095 23 PESTECH INTERNATIONAL BHD 1.75 1.49 1.64 1.79 61.23 1.63 1.59 1.66 1.71 360,900 433,530 24 MMS VENTURES BHD 1.57 1.12 1.36 1.60 62.01 1.29 1.28 1.40 1.47 1,164,300 427,350 25 YTL CORP BHD 1.45 1.31 1.40 1.48 56.82 1.42 1.38 1.40 1.43 4,294,800 3,319,020 26 CENTRAL INDUSTRIAL CORP BHD 1.07 0.94 1.02 1.10 58.22 0.99 0.99 1.01 1.01 9,500 1,675 27 PETRONAS CHEMICALS GROUP BHD 8.48 8.03 8.26 8.50 64.93 8.36 8.29 8.18 8.13 8,575,000 6,263,035 28 CCK CONSOLIDATED HOLDINGS BH 1.40 1.26 1.33 1.41 64.36 1.36 1.33 1.31 1.25 1,472,300 938,050 29 TECHFAST HOLDINGS BHD 0.39 0.26 0.33 0.40 59.42 0.35 0.33 0.34 0.38 1,093,200 818,810 30 GABUNGAN AQRS BHD 1.79 1.46 1.63 1.80 62.65 1.70 1.65 1.68 1.76 2,647,000 1,517,085 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
24. *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 Bollinger Band RSI Moving Average Vol 20-day avg vol Lower Middle Upper 14-day 5-day 10-day 30-day 50-day 25.98 25.28 25.53 25.78 72.61 25.54 25.55 25.45 25.39 318,200 840,775 2.06 1.66 1.81 1.96 75.83 1.84 1.81 1.79 1.70 3,804,400 1,681,805 3 IMASPRO CORP BHD 2.04 1.76 1.86 1.96 83.11 1.90 1.87 1.84 1.83 24,000 21,055 4 FAR EAST HOLDINGS BHD 9.80 8.55 9.14 9.73 62.35 9.35 9.20 8.98 9.08 12,200 2,470 5 SAPURA ENERGY BHD 0.69 0.44 0.54 0.63 67.35 0.54 0.54 0.53 0.60 552,941,800 174,617,500 1 KUALA LUMPUR KEPONG BHD 2 AEON CO (M) BHD 6 HARTALEGA HOLDINGS BHD 6.64 5.52 6.06 6.59 71.33 6.31 6.20 5.88 5.84 3,820,200 3,116,415 7 AJINOMOTO MALAYSIA BHD 22.90 21.36 22.11 22.85 61.07 21.92 21.99 22.29 21.72 25,900 29,975 8 CLOUDARON GROUP BHD 0.35 0.16 0.23 0.30 74.32 0.27 0.25 0.23 NA 14,500 9 HSS ENGINEERS BHD 1.61 1.32 1.45 1.57 62.44 1.45 1.43 1.45 1.51 2,966,800 762,325 30,500 400,945 10 SYARIKAT TAKAFUL MALAYSIA - 3.46 3.21 3.32 3.43 61.25 3.36 3.34 3.38 3.41 11 BATU KAWAN BHD 18.58 17.93 18.25 18.56 55.52 18.14 18.14 18.34 18.73 12 TAS OFFSHORE BHD 0.35 0.24 0.28 0.33 69.65 0.28 0.28 0.28 0.29 13 DANCOMECH HOLDINGS BHD 0.43 0.34 0.37 0.41 66.13 0.37 0.37 0.38 0.40 82,500 85,035 14 MALAYSIA MARINE AND HEAVY EN 0.81 0.71 0.75 0.79 64.68 0.74 0.74 0.75 0.78 2,217,700 861,940 15 MALAYSIA AIRPORTS HLDGS BHD 9.12 8.75 8.92 9.10 65.01 9.00 8.96 8.86 8.86 683,200 2,648,770 16 SIME DARBY BERHAD 2.80 2.49 2.64 2.78 65.46 2.67 2.64 2.63 2.69 9,899,400 12,834,480 45,172,900 7,360,840 17 MMAG HOLDINGS BHD 0.23 0.14 0.18 0.21 76.49 0.18 0.17 0.18 0.18 18.20 17.73 17.96 18.18 59.21 18.05 17.98 17.83 17.83 19 BUMI ARMADA BERHAD 0.90 0.79 0.84 0.88 65.20 0.83 0.83 0.84 20 MUI PROPERTIES BERHAD 0.30 0.21 0.25 0.29 67.95 0.26 0.25 0.24 18 PETRONAS GAS BHD 400 21,285 6,744,900 237,910 277,200 452,680 0.84 22,647,300 5,232,390 0.25 707,800 1,953,875 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 WESTPORTS HOLDINGS BHD 3.36 3.38 3.51 3.64 36.56 3.46 3.49 3.54 3.55 973,300 1,212,950 2 PLS PLANTATIONS BHD 0.78 0.80 0.85 0.91 18.33 0.83 0.85 0.90 1.01 15,000 3,545 3 TAFI INDUSTRIES BHD 0.32 0.34 0.39 0.44 24.60 0.36 0.37 0.40 0.41 10,000 850 4 ECM LIBRA FINANCIAL GROUP BH 0.47 0.49 0.51 0.54 37.44 0.51 0.51 0.50 0.50 100 62,500 3,560 5 KIM HIN INDUSTRY BERHAD 1.38 1.39 1.48 1.57 36.50 1.45 1.46 1.51 1.49 1,000 6 TEO GUAN LEE CORP BHD 0.93 0.94 1.13 1.32 22.30 0.99 1.06 1.19 1.26 5,000 930 7 ADVANCE INFORMATION MARKETIN 0.21 0.22 0.25 0.27 40.29 0.25 0.25 0.25 0.26 45,300 2,750 8 SUNGEI BAGAN RUBBER (M) 3.30 3.31 3.46 3.60 34.67 3.40 3.44 3.49 3.48 18,000 3,140 9 UOA REAL ESTATE INVESTMENT 1.33 1.34 1.46 1.57 20.51 1.38 1.43 1.48 1.51 72,000 32,605 90,165 10 TEXCHEM RESOURCES BERHAD 0.82 0.82 0.87 0.92 26.62 0.84 0.86 0.88 0.88 253,600 11 LTKM BHD 0.91 0.92 0.99 1.06 27.99 0.96 0.97 1.00 1.05 6,000 3,460 12 PNE PCB BHD 0.47 0.48 0.51 0.54 41.97 0.51 0.51 0.51 0.52 10,000 65,055 13 TPC PLUS BHD 0.37 0.37 0.39 0.42 33.59 0.38 0.39 0.40 0.40 86,000 52,185 14 SCANWOLF CORP BHD 0.24 0.24 0.27 0.30 32.62 0.26 0.26 0.27 0.27 11,000 32,195 5,745 15 MB WORLD GROUP BHD 2.01 2.01 2.04 2.07 37.23 2.03 2.04 2.07 2.10 3,000 16 ARK RESOURCES BHD 0.31 0.31 0.38 0.45 14.99 0.33 0.35 0.39 0.43 500 25 17 XINGHE HOLDINGS BHD 0.05 0.05 0.06 0.06 36.84 0.05 0.06 0.06 0.06 683,800 2,053,790 17,950 18 PELANGI PUBLISHING GROUP BHD 0.47 0.47 0.51 0.54 40.11 0.49 0.50 0.51 0.51 9,000 19 IDEAL UNITED BINTANG INTERNA 0.62 0.62 0.67 0.73 41.12 0.64 0.66 0.68 0.68 7,000 1,810 20 SYMPHONY LIFE BHD 0.76 0.76 0.79 0.83 35.84 0.78 0.79 0.80 0.79 170,000 335,160 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 Friday, April 13, 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
25. Friday , 13 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 ( HK ) 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
26. Technical View Friday , April 13, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Hong Kong HSI: 30,831.28 (-66.43, -0.22%) Chartist: Stephen Soo Close Name 12-Apr HANG SENG 30,831.28 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA GALAXY 75.40 73.75 8.12 6.84 12.46 21.95 4.22 129.50 5.69 413.20 265.40 93.15 84.25 7.43 19.82 80.55 3.94 37.10 188.90 16.22 79.15 18.62 26.35 27.40 59.15 51.85 6.30 3.10 10.30 32.30 2.51 43.30 13.30 36.80 11.46 29.80 17.64 14.14 4.79 13.02 11.42 6.66 1.64 1.40 70.60 43.65 70.85 Tel: +603-2167 9607 Bollinger Bands Change (66.43) 0.15 0.05 (0.01) (0.01) 0.44 (0.10) (0.02) 0.70 0.16 (6.40) 0.80 0.45 (0.35) 0.03 (0.12) 0.15 (0.06) (0.25) 0.20 0.04 (0.70) 0.12 (0.15) (0.35) (0.05) (0.15) (0.04) (0.10) 0.20 (0.20) 0.04 0.45 (0.14) 0.30 0.02 (0.10) (0.10) (0.04) (0.10) (0.28) (0.04) (0.15) (0.01) (0.01) (1.00) 0.00 (2.15) High Low Lower Mid stsoo@ta.com.my Moving Averages RSI Upper 14d 10d 30d www.taonline.com.my DMI 50d MACD DI + DI - ADX 31,094.11 30,637.14 29,483.73 30,819.38 32,155.04 52.49 30,285.53 30,795.74 31,039.54 26.16 25.60 15.36 75.70 74.30 8.22 6.92 12.68 22.15 4.27 130.40 5.78 423.60 268.40 94.10 85.40 7.60 20.15 80.80 4.03 37.40 189.00 16.24 80.25 18.76 26.50 28.05 59.50 52.15 6.37 3.17 10.36 32.55 2.52 43.30 13.56 37.50 11.48 30.40 17.88 14.26 4.84 13.42 11.52 6.85 1.66 1.45 72.05 44.30 73.35 74.80 73.30 8.03 6.75 12.26 21.70 4.19 128.70 5.62 408.80 263.00 92.50 83.70 7.42 19.52 80.25 3.93 36.95 187.40 16.10 78.50 18.38 26.10 27.15 58.80 51.50 6.26 3.09 10.10 31.95 2.46 42.95 13.14 36.30 11.30 29.35 17.50 14.10 4.67 12.92 11.34 6.64 1.59 1.40 70.20 43.30 70.80 72.39 70.18 7.80 6.53 10.96 20.97 4.11 122.98 5.27 385.94 239.31 90.24 77.03 6.17 18.37 78.34 3.73 36.24 179.83 15.77 78.61 18.03 26.03 26.71 59.72 50.54 6.12 2.93 9.31 30.63 2.42 41.90 12.37 32.59 10.72 27.55 16.98 13.85 4.09 12.96 10.69 6.50 1.51 1.41 65.12 40.43 68.71 75.38 72.17 8.25 6.83 11.46 22.39 4.29 127.76 5.40 435.54 267.60 95.28 84.85 6.82 20.53 79.68 4.06 38.72 185.92 16.12 80.36 18.59 27.43 27.80 62.85 51.83 6.27 3.30 9.78 32.61 2.81 43.01 13.39 34.60 11.51 28.81 17.91 14.20 4.47 13.75 11.20 7.00 1.81 1.45 67.56 43.46 70.96 78.36 74.16 8.69 7.12 11.95 23.80 4.47 132.54 5.54 485.14 295.89 100.32 92.66 7.46 22.68 81.03 4.38 41.20 192.01 16.48 82.11 19.14 28.82 28.89 65.98 53.11 6.43 3.67 10.24 34.58 3.20 44.11 14.42 36.60 12.30 30.06 18.84 14.54 4.85 14.55 11.72 7.50 2.12 1.49 69.99 46.48 73.22 74.13 72.27 8.07 6.73 11.48 21.78 4.22 126.09 5.41 414.02 256.72 93.18 81.59 7.09 19.58 79.92 3.93 37.66 183.92 16.17 79.77 18.44 26.93 27.50 62.07 51.35 6.23 3.15 9.90 31.79 2.64 42.69 13.03 35.19 11.22 28.83 17.50 14.22 4.45 13.48 11.08 6.77 1.68 1.44 67.63 42.34 71.68 76.01 72.19 8.21 6.82 11.39 22.64 4.28 128.28 5.41 437.09 273.48 96.02 84.48 6.65 20.98 79.38 4.04 38.90 187.28 15.91 79.69 18.65 28.18 27.81 62.44 51.53 6.28 3.40 9.79 33.13 2.90 42.47 13.52 33.44 11.63 28.58 18.00 14.01 4.53 13.61 11.25 7.12 1.93 1.48 66.54 43.56 69.84 78.44 74.43 8.32 6.90 11.56 23.43 4.35 128.67 5.57 439.22 276.10 98.24 85.40 6.59 21.84 78.70 3.99 38.99 186.47 15.61 78.35 19.02 28.89 28.25 61.82 51.60 6.36 3.56 10.22 33.07 3.01 42.55 13.54 31.87 11.75 29.18 18.49 13.93 4.76 13.20 11.41 7.37 2.05 1.56 65.33 43.92 68.38 23.30 26.64 23.15 23.63 30.32 12.63 21.09 26.27 29.18 22.17 28.03 15.79 25.18 37.63 16.54 27.29 23.02 17.62 25.64 28.45 22.24 17.00 16.42 27.16 22.68 21.92 23.57 20.44 24.99 19.94 13.20 21.90 22.98 35.16 18.19 29.99 21.40 15.87 35.16 16.94 24.76 15.80 9.86 20.66 38.02 24.79 27.13 31.28 18.70 22.06 19.92 21.74 20.76 19.13 23.64 18.55 31.71 25.73 29.36 21.38 12.40 21.86 13.54 24.22 26.77 22.50 12.31 17.06 17.96 27.34 19.36 34.56 18.26 20.65 28.85 24.51 24.88 36.08 22.61 27.06 11.94 21.68 17.07 23.79 16.11 20.26 21.46 16.80 27.68 35.42 19.15 16.71 21.77 17.21 32.24 19.55 12.33 9.59 10.27 30.20 10.26 13.76 12.95 24.11 22.74 23.92 15.37 26.19 24.59 21.30 18.05 21.24 14.60 33.64 13.72 20.29 23.89 11.04 32.47 13.15 9.13 32.57 19.30 21.31 37.41 18.30 24.33 32.21 17.37 16.65 19.97 6.68 27.46 16.97 16.66 NA 54.73 19.70 20.04 16.11 15.81 46.05 53.87 48.58 52.17 60.83 42.48 47.81 54.25 55.24 44.94 47.88 36.29 51.64 70.86 42.05 56.92 49.30 37.86 55.57 59.16 52.00 46.96 36.69 49.60 30.92 54.61 54.18 38.66 54.45 49.01 14.12 51.54 52.09 65.87 48.06 59.10 45.70 52.97 64.18 45.70 56.88 40.47 25.07 38.09 66.18 52.23 59.82 Diff Line Signal 0.56 -189.12 -195.82 (7.99) 7.94 1.10 3.70 8.58 (8.13) 1.96 2.62 10.63 (9.53) 2.31 (13.57) 3.80 25.23 (5.32) 13.75 (1.20) (9.15) 3.14 16.15 5.18 (0.96) (10.92) 7.80 (11.88) 3.67 2.92 (8.41) 0.48 (4.93) (22.88) (0.71) (4.07) 23.22 (3.49) 12.92 (2.39) (0.24) 14.90 (4.52) 7.96 (11.88) (25.57) 1.52 21.31 3.01 9.91 -1.18 -0.19 -0.06 -0.04 0.02 -0.48 -0.03 -0.59 -0.02 -9.30 -6.19 -1.68 -1.05 0.24 -0.63 0.46 -0.02 -0.62 -0.73 0.16 0.43 -0.15 -0.65 -0.12 -0.41 0.00 -0.02 -0.13 0.01 -0.45 -0.17 0.04 -0.15 1.22 -0.14 0.15 -0.28 0.09 -0.04 0.02 -0.04 -0.18 -0.13 -0.03 0.96 -0.37 1.24 -1.33 -0.63 -0.04 -0.04 -0.02 -0.51 -0.03 -0.79 -0.04 -7.11 -6.08 -1.47 -0.95 0.17 -0.64 0.42 -0.01 -0.42 -1.11 0.19 0.59 -0.17 -0.63 -0.14 0.16 0.01 -0.03 -0.13 -0.09 -0.45 -0.14 0.03 -0.17 1.10 -0.16 0.07 -0.32 0.11 -0.12 0.11 -0.09 -0.19 -0.12 -0.04 0.71 -0.42 1.18 DMI Diff 6.71 BUY 0.15 0.43 (0.02) 0.00 0.04 0.03 (0.00) 0.20 0.01 (2.19) (0.11) (0.21) (0.10) 0.06 0.01 0.04 (0.01) (0.20) 0.38 (0.03) (0.15) 0.02 (0.03) 0.02 (0.57) (0.01) 0.01 0.00 0.09 (0.00) (0.03) 0.00 0.02 0.11 0.02 0.08 0.03 (0.02) 0.08 (0.09) 0.05 0.01 (0.01) 0.00 0.25 0.05 0.05 MACD Recent Signal SELL BUY BUY BUY BUY SELL BUY BUY BUY SELL BUY SELL BUY BUY SELL BUY SELL SELL BUY BUY BUY SELL SELL BUY SELL BUY BUY SELL BUY SELL SELL SELL SELL BUY SELL BUY SELL SELL BUY SELL BUY SELL SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY SELL BUY BUY SELL SELL SELL SELL BUY BUY BUY SELL SELL BUY SELL SELL BUY SELL BUY SELL SELL BUY BUY BUY SELL SELL BUY BUY BUY BUY BUY BUY SELL BUY SELL BUY BUY SELL BUY BUY BUY BUY The table above consists of the 45 HKSE Hang Seng Index component stocks, sorted 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
27. 13-Apr-18 Corporate News : AIA Group Ltd.’s strong solvency and working capital means it will continue to expand via M&A and widen distribution networks in Asia with market-leading banks. – Bloomberg. Technical Comments: Positive technical momentum should enhance upside on AIA Group shares towards the 123.6%FP (HKD75.43), with a confirmed breakout to challenge HKD79.30 and HKD82.43, the respective 138.2% and 150%, Fibonacci Projection levels, going forward. Key uptrend supports is found at the 30-day ma (HKD66.82). AIA GROUP LTD HKD70.60 (-1.00) BOLLINGER BANDS Upper Middle Lower HKD HKD HKD SIMPLE MOVING AVERAGES 70.81 67.76 64.70 10-day 30-day 50-day DMI Recent Signal HKD HKD HKD 68.04 66.82 65.44 DAILY MACD BUY Recent Signal BUY Page 2 of 3
28. 13-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 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. Fundamentals of Foreign Technical Picks Bloomberg Ticker 5 941 939 1398 883 2628 3988 16 857 700 388 1 2318 386 1088 2 494 2388 11 3 19 101 4 688 6 12 3328 1898 762 23 330 66 83 291 17 1109 144 836 2600 293 267 1199 2038 678 1299 1928 27 HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK Stock Name Close Target Price % upside HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 75.40 83.20 9% EPS ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 0.7 0.8 13.4 12.7 0.7 0.7 86.00 61.80 -5.69 73.75 91.65 20% 5.7 5.9 10.4 10.1 3.8 3.9 86.29 69.65 -6.94 8.12 10.55 23% 1.1 1.2 6.2 5.6 3.9 4.3 9.39 5.91 12.78 6.84 8.60 20% 0.9 0.9 6.4 5.8 3.8 4.2 7.64 4.83 8.74 12.46 14.25 13% 1.0 1.0 9.8 9.6 4.0 4.1 13.16 8.45 11.05 21.95 30.07 27% 1.4 1.7 12.3 10.5 2.2 2.5 28.20 21.10 -10.59 4.22 5.37 21% 0.6 0.7 5.5 5.1 4.4 4.8 4.96 3.57 9.90 129.50 152.65 15% 10.4 11.2 12.5 11.5 3.4 3.7 139.60 112.50 -0.69 5.69 6.64 14% 0.3 0.3 15.2 13.9 2.9 3.0 6.66 4.68 4.40 413.20 521.75 21% 9.0 11.8 36.9 27.9 0.2 0.3 476.60 225.20 1.77 265.40 317.23 16% 7.8 8.9 34.0 29.8 2.7 3.1 306.00 188.50 10.68 93.15 120.76 23% 10.2 10.8 9.1 8.6 3.3 3.6 108.90 91.00 -5.05 84.25 107.54 22% 5.5 6.4 12.3 10.6 1.8 2.2 98.85 41.55 3.56 7.43 8.31 11% 0.5 0.6 11.0 10.6 5.6 5.8 7.60 5.40 29.67 19.82 25.22 21% 2.3 2.2 6.9 7.1 4.5 4.3 25.75 14.90 -2.12 80.55 83.03 3% 5.5 5.0 14.6 16.2 3.7 3.7 85.50 75.05 0.75 3.94 4.44 11% 0.0 0.0 18.6 14.8 0.7 0.8 4.47 2.75 -8.16 37.10 44.77 17% 3.1 3.4 12.0 10.9 4.0 4.5 42.15 30.33 -6.31 188.90 190.34 1% 11.3 12.5 16.7 15.1 3.9 4.3 197.50 153.00 -2.63 16.22 13.75 -18% 0.6 0.6 27.6 26.3 2.3 2.5 16.58 13.82 5.87 79.15 91.10 13% 4.6 5.5 17.2 14.4 3.1 3.8 82.55 71.85 9.40 18.62 21.93 15% 1.1 1.0 17.4 18.0 4.0 4.1 21.80 17.28 -2.51 26.35 30.42 13% 2.3 2.4 11.5 10.8 3.0 3.1 34.00 23.96 -2.41 27.40 33.76 19% 3.7 4.4 7.4 6.3 3.5 4.1 32.20 21.50 8.95 59.15 68.16 13% 3.5 3.7 17.1 16.2 5.6 4.8 67.61 55.74 -1.90 51.85 56.64 8% 4.0 3.9 13.1 13.4 3.4 3.5 56.00 42.95 0.68 6.30 7.15 12% 1.0 1.0 5.3 4.9 4.6 4.9 7.13 5.47 8.62 3.10 4.28 28% 0.3 0.3 7.9 8.1 2.8 2.7 4.31 3.03 -12.18 10.30 13.35 23% 0.3 0.5 28.4 17.8 1.2 1.9 13.24 9.20 -2.46 32.30 28.90 -12% 2.0 2.2 16.1 14.5 2.9 3.1 36.00 30.55 -4.58 2.51 3.43 27% -0.5 0.1 N/A 37.5 0.0 0.2 6.16 2.42 -39.95 43.30 43.81 1% 1.8 1.9 24.2 22.4 2.7 2.8 47.75 40.55 -5.46 13.30 15.42 14% 0.9 0.8 15.2 16.6 6.9 4.1 14.60 12.06 -0.87 36.80 35.23 -4% 0.7 0.8 43.6 35.4 0.6 0.8 38.00 18.18 31.19 11.46 13.79 17% 0.8 0.9 14.9 12.9 4.1 4.2 13.00 9.37 -2.39 29.80 34.84 14% 3.5 4.1 8.5 7.2 4.0 4.7 34.45 19.86 29.57 17.64 23.73 26% 1.7 1.7 10.3 10.1 5.5 4.4 26.02 17.06 -13.74 14.14 17.02 17% 1.4 1.7 9.8 8.2 6.2 6.2 16.36 12.82 -2.88 4.79 5.67 16% 0.2 0.3 16.3 12.3 0.4 0.7 7.55 3.43 -14.31 13.02 14.62 11% 0.3 1.0 N/A 13.0 0.7 2.5 14.82 10.20 7.43 11.42 N/A N/A 1.7 1.8 6.9 6.2 3.3 3.4 12.80 10.66 1.24 6.66 8.93 25% 0.1 0.1 10.3 9.4 0.5 0.5 9.95 6.58 -18.08 1.64 2.27 28% 0.0 0.0 N/A 69.6 0.0 0.0 2.72 1.56 -31.09 1.40 N/A N/A NA NA N/A N/A NA NA 2.47 1.40 -19.08 70.60 77.89 9% 0.5 0.5 19.1 17.1 0.2 0.2 72.10 48.20 5.93 43.65 50.72 14% 0.3 0.3 22.2 19.4 0.6 0.6 49.35 33.25 8.18 70.85 78.74 10% 2.9 3.2 24.4 22.1 1.2 1.3 73.85 38.83 13.66 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 Friday, April 13, 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