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Bursa Malaysia Daily Market Report - 27 April

Mohd Noordin
By Mohd Noordin
5 years ago
Bursa Malaysia Daily Market Report - 27 April

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  1. Friday , 27 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 . C h in H in G ro u p B h d : F o c u se s o n N e w A A C P la n t a n d Pr e f a b ric a te d M o du la r Pro je c t Te ch n ic al R ep o rt s 1. D ai l y Te ch n ic a l St o ck W at ch , D ai l y Mon e y F lo w , D a il y St oc k Sc reen ( Loc al ) 2. D ai l y For ei gn T ech n i c al St o ck W a t ch ( A US ) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my
  2. Daily Market Commentary Friday , 27 April 2018 TA Research, e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (26.04.2018) Volume (mil) +/-chg (RMmn) Main Market 1,070.8 Warrants 605.7 ACE Market 366.9 Bond 2.1 ETF 0.7 LEAP 0.0 Total 2,046.2 Off Market 62.3 13.0 72.3 86.9 -0.4 0.2 (0.0) 1,901.1 173.9 56.8 0.7 1.2 0.0 2,133.7 13.6 260.1 57.3 85.3 17.9 0.4 0.3 0.0 -9.5 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) 17.1 14.5 13.8 3.0 3.0 3.0 2.0 1.4 1.3 274 122 43 2 1 0 442 204 107 32 2 4 0 349 % chg % YTD chg 0.34 40.98 36.82 0.00 0.02 0.32 0.25 0.00 3.09 -0.34 -15.09 3.56 24,322.34 7,118.68 7,421.43 22,319.61 2,475.64 30,007.68 3,570.02 1,773.20 5,909.20 3,075.03 1,770.40 5,910.77 238.51 114.94 42.11 104.29 26.83 -320.47 2.01 -6.32 -170.65 -42.94 -38.86 -10.78 0.99 1.64 0.57 0.47 1.10 -1.06 0.06 -0.36 -2.81 -1.38 -2.15 -0.18 -1.61 3.12 -3.46 -1.96 0.33 0.30 4.91 1.11 -7.02 -7.02 -6.79 -2.54 0.10 1.36 15.90 1.00 0.68 0.63 0.25 0.56 4.98 Exchange Rate USD/MYR 3.9185 0.006 USD/JPY 109.33 -0.110 EUR/USD 1.211 -0.0055 Counter MAYBANK PCHEM CIMB IHH HLBANK SIMEPLT PETGAS DIGI IOICORP GENM Mkt Cap. Chg (RM’mn) (RM) 116,626 67,280 66,424 49,932 38,621 37,813 35,617 35,532 29,127 27,897 0.10 0.02 0.03 0.01 0.04 0.06 0.06 0.08 0.02 0.05 VS - 1:4 Bonus Issue - BI of up to 397.5m shares. 1 bonus share for every 4 existing shares held. Ex-Date: 04/05/2018. Entitlement Date: 08/05/2018. LISTING ON: 10/05/2018. With downside momentum easing, the local market should trade sideways today, with investors sidelined amid caution ahead of the nomination of candidates for GE14 over the weekend. Immediate supports for the index is fixed at the 23.6%FR (1,840) and the 100-day ma (1,827), followed by the 4/4/18 pivot low of 1,811, while overhead resistance will be the 1,880, and then the recent high of 1,896. News Bites Vol. (mn) 16.23 6.36 9.35 3.27 0.27 2.57 1.46 11.59 1.93 2.23 Commodities Futures Palm Oil (RM/mt) 2,390.00 -6.00 Crude Oil (Brent) 74.75 0.69 Gold ($/tr.oz.) 1,318.80 -4.40 Important Dates Stocks stayed soft as profit-taking interest persisted Thursday. The KLCI ended flat at 1,852.27 (+0.34) after ranging between early high of 1,863.57 and low of 1,846.54, as gainers edged losers 442 to 349 on improved turnover of 2.04bn shares worth RM2.13bn. Low technical momentum readings on Bumi Armada point to limited downside risk and prime for oversold rebound, with key resistance from the 123.6%FP (90sen) and 138.2%FP (95sen) matching recent peaks, and important chart supports at the 200-day ma (78sen) and 76.4%FR (75sen). DNEX looks attractive to bargain on dips for recovery to the 38.2%FR (40sen), with a confirmed breakout to target the 50%FR (46sen) and 61.8%FR (51sen) ahead, while key support is at the 23.6%FR (33sen). Top 10 KLCI Movers Based on Mkt Cap. (RM) @ @ @ @ @ @ @ @ @ 1.78 0.29 0.15 0.32 1.70 0.00 1.04 4.17 1,852.27 12,899.16 14,477.80 1,848.50 Off Market KSTAR ROHAS TENAGA JMR FAJAR XIANLNG PERMAJU KENANGA TM Review & Outlook Value Value/ +/-chg Volume Up Down • Telekom Malaysia Bhd is allocating up to 30% of revenue for capital expenditure this year to focus on expanding the infrastructure for WiFi, high speed broadband and long term evolution services. • PPB Group Bhd is acquiring the Armed Forces Fund Board's 16.8% stake in Hillcrest Gardens Sdn Bhd for RM59.1mn. • Poh Huat Resources Holdings Bhd will receive RM4.3mn compensation for the losses arising from the fire which broke out at one of its factories in Muar, Johor in January, after due assessment by and negotiation with the insurers. • Ikhmas Jaya Group Bhd's audited financial results for FY17 has a variance of RM7.4mn or 51.5% from its unaudited 4QFY17 mainly due to the consolidation adjustment made for the capitalisation of depreciation charge on plant and machinery into the project costs. • Perusahaan Otomobil Kedua Sdn Bhd said the concerns surrounding its technological partner Daihatsu Motor Corp amid UMW Holdings Bhd's takeover of MBM Resources Bhd are unfounded, adding that it is business as usual for the carmaker. • AirAsia X Bhd carried 13% more passengers to 1.6mn in 1Q18 from 1.4mn a year ago on the back of increased capacity as the airline catered to increased travel demand. • OCR Group Bhd entered into a share sale agreement with Singaporean Choo Peng Hung to dispose its entire equity stake of 100% in Takaso Industries Pte Ltd for RM4.4mn. • PUC Bhd received shareholders' approval to acquire a 33% stake in Pictureworks Holdings Sdn Bhd for RM52.8mn at its extraordinary general meeting. • Ireka Corp Bhd secured a contract worth RM92.0mn to build an additional structure at Pantai Hospital Ayer Keroh in Melaka. • Choo Bee Metal Industries Bhd proposed a bonus issue of up to 21.98mn bonus shares on the basis of one-for-five existing shares held to reward shareholders. • Nexgram Holdings Bhd fixed the issue price of its first tranche of placement shares at 5.9 sen per share, which is at a 9.2% discount to its last closing price of 6.5 sen. • ViTrox Corp Bhd's net profit for 1QFY18 rose to RM20.3mn from RM18.6mn a year earlier, on higher revenue from its automated board inspection business. • Pavilion Real Estate Investment Trust net property income rose 13% YoY to RM89.0mn in 1QFY18 due to higher contribution from Pavilion Kuala Lumpur Mall's tenants following a repositioning exercise, and higher occupancy rate at the Intermark Mall. • Frontken Corp Bhd's 1QFY18 net profit rose 25% YoY to RM6.3mn from RM5.0mn, as revenue improved on growth in the group's semiconductor support services business. • LPI Capital Bhd's net profit for 1QFY18 rose 2.8% YoY to RM72.5mn from RM70.6mn, driven mainly by Lonpac Insurance Bhd. • Initial jobless claims in the US, fell 24,000 to a seasonally adjusted 209,000 in the week through April 21, the lowest level since 1969. • The European Central Bank would continue to buy €30 billion a month of Eurozone bonds at least through September, and would leave its key interest rate unchanged at minus 0.4%. 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 27, 2018 FBMKLCI: 1,852.27 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 Sideways Ahead of GE14 Nomination Stocks stayed soft as profit-taking interest persisted Thursday. The KLCI ended flat at 1,852.27 (+0.34) after ranging between early high of 1,863.57 and low of 1,846.54, as gainers edged losers 442 to 349 on improved turnover of 2.04bn shares worth RM2.13bn. Supports at 1,840/1,827; Resistance at 1,880 With downside momentum easing, the local market should trade sideways today, with investors sidelined amid caution ahead of the nomination of candidates for GE14 over the weekend. Immediate supports for the index is fixed at the 23.6%FR (1,840) and the 100-day ma (1,827), followed by the 4/4/18 pivot low of 1,811, while overhead resistance will be the 1,880, and then the recent high of 1,896. Bargain Bumi Armada & DNEX Low technical momentum readings on Bumi Armada point to limited downside risk and prime for oversold rebound, with key resistance from the 123.6%FP (90sen) and 138.2%FP (95sen) matching recent peaks, and important chart supports at the 200-day ma (78sen) and 76.4%FR (75sen). DNEX looks attractive to bargain on dips for recovery to the 38.2%FR (40sen), with a confirmed breakout to target the 50%FR (46sen) and 61.8%FR (51sen) ahead, while key support is at the 23.6%FR (33sen). Asian Markets Trade Mixed as Treasury Yields Tick Higher Equities were mixed across the Asia Pacific region on Thursday, as investors continue to keep a close eye on the rising government debt yields stateside. The rise in the 10-year U.S. Treasury yield to a four-year peak above 3 percent had weighed on stocks amid concerns higher costs to borrow could dampen corporate profits. Nonetheless, the broader equity market reaction to the latest jump in U.S. yields appeared to be more measured compared to February, when a similar spike in rates sent stocks tumbling. Japan’s Nikkei share average rose on Thursday, buoyed by tech shares, with index heavyweight Tokyo Electron jumping after it forecast strong profits for this fiscal year. The Nikkei ended 0.5 percent higher at 22,319.61 points. Across the Korean Strait, the Kospi rose 26.83 points, or 1.1 percent, to 2,475.64. In Australia, the ASX 200 fell 10.8 points, or 0.18 percent, to 5,910.80, as the heavily weighted financial sector tumble 1.77 percent. China stocks also tumbled as investors were spooked by a U.S. probe of Huawei, triggering a sell-off in tech firms as trade tensions between Beijing and Washington simmered just below the surface. The Shanghai Composite Index lost 1.4 percent to 3,075.03 points. Page 1 of 7
  4. 27-Apr-18 Wall Street Powered Higher By Tech Sector The Dow Jones Industrial Average on Thursday booked its best one-day gain in about two weeks on the back of better-than-expected quarterly results in the technology sector and a retreat of government bond yields . Technology stocks led the way after Facebook shares surged 9.1 percent after the company posted better-than-expected earnings and revenue for the first quarter. Chipmakers Advanced Micro Devices Inc and Qualcomm Inc also rose 13.7 percent and 1.4 percent, respectively, after quarterly results beat Wall Street estimates and alleviated worries over softening smartphone demand. So far, 45 percent of S&P 500 companies have reported first-quarter earnings, with 79.7 percent beating consensus estimates. Stocks also got a boost as bond yield slipped from multiyear highs. The yield on the U.S. 10year Treasury note fell to 2.990 percent from 3.026 percent on Wednesday, after rising for six straight sessions. In economic front, U.S. durable goods orders rose 2.6 percent in March, far more than the expected 1.6 percent gain. Meanwhile, weekly jobless claims totaled 209,000 last week, below a forecast of 230,000. The Dow Jones Industrial Average rose 238.51 points, or 0.99 percent, to 24,322.34, the S&P 500 gained 27.54 points, or 1.04 percent, to 2,666.94 and the Nasdaq Composite added 114.94 points, or 1.64 percent, to 7,118.68. Page 2 of 7
  5. 27-Apr-18 News In Brief Corporate Telekom Malaysia Bhd is allocating up to 30 % of revenue for capital expenditure this year. Group Chief Executive Officer Datuk Seri Mohammed Shazalli Ramly said the allocation would exceed last year's RM2.76bn as the company focused on expanding the infrastructure for WiFi, high speed broadband and long term evolution services. (Bernama) Perusahaan Otomobil Kedua Sdn Bhd (Perodua) said the concerns surrounding its technological partner Daihatsu Motor Corp amid UMW Holdings Bhd's takeover of MBM Resources Bhd are unfounded, adding that it is business as usual for the carmaker. Perodua president and chief executive officer Datuk Aminar Rashid Salleh said the parties involved should have already discussed this issue and should be able to come to a solution, and that it should be nothing to worry about. (The Edge) PPB Group Bhd is acquiring the Armed Forces Fund Board's 16.8% stake in Hillcrest Gardens Sdn Bhd for RM59.1mn. Hillcrest's audited consolidated net assets as at Dec 31, 2017 stood at RM199.6mn, including 147.78 acres of freehold land in Taman Seri Gombak and Taman Puchong Utama. The purchase consideration represents a premium of 76% over 16.8% of audited consolidated net assets. (Bursa Malaysia) Poh Huat Resources Holdings Bhd will receive RM4.3mn compensation for the losses arising from the fire which broke out at one of its factories in Muar, Johor in January, after due assessment by and negotiation with the insurers. The group will recognise a gain of RM1.3mn, arising from insurance compensation as the total net book value has been ascertained to be RM3.0mn. (Bursa Malaysia) Ikhmas Jaya Group Bhd’s audited financial results for FY17 has a variance of RM7.4mn or 51.5% from its unaudited 4QFY17. The profit attributable to owners of Ikhmas Jaya was only RM6.9mn in AFS 2017, as opposed to the RM14.3mn reported in 4QFY17. The variance was mainly due to the consolidation adjustment made for the capitalisation of depreciation charge on plant and machinery into the project costs. (Bursa Malaysia) AirAsia X Bhd carried 13% more passengers to 1.6mn in 1Q18 from 1.4mn a year ago on the back of increased capacity as the airline catered to increased travel demand arising from the festive seasons and school holidays during the period. Passenger load factor remained static at 84%. Its available seat per kilometre and revenue passenger kilometres grew 10% and 9% respectively. (Bursa Malaysia) OCR Group Bhd entered into a share sale agreement with Singaporean Choo Peng Hung to dispose its entire equity stake of 100% in Takaso Industries Pte Ltd for RM4.4mn. It intends to use the proceeds for working capital purposes. (Bursa Malaysia) PUC Bhd received shareholders’ approval to acquire a 33% stake in Pictureworks Holdings Sdn Bhd for RM52.8mn at its extraordinary general meeting. The acquisition would allow the company to diversify its business into the imagery capture sector, thus providing new revenue streams. (Bernama) Ireka Corp Bhd secured a contract worth RM92.0mn to build an additional structure at Pantai Hospital Ayer Keroh in Melaka. It accepted a letter of award from Pantai Hospital Ayer Keroh for the construction of additional one-storey basement and eight-storey hospital, and the refurbishment of existing hospital building including the mechanical and electrical rooms at Ayer Keroh, Melaka. (Bursa Malaysia) Page 3 of 7
  6. 27-Apr-18 Choo Bee Metal Industries Bhd proposed a bonus issue of up to 21 .98mn bonus shares on the basis of one-for-five existing shares held to reward shareholders, while enhancing its marketability and trading liquidity. Barring unforeseen circumstances and subject to approvals, the proposed bonus issue is expected to be completed by the third quarter of 2018. (Bursa Malaysia) Nexgram Holdings Bhd fixed the issue price of its first tranche of placement shares at 5.9 sen per share, which is at a 9.2% discount to its last closing price of 6.5 sen. The issue price also represents a discount of 0.57 sen or 8.8%, compared with the five-day weighted average market price of Nexgram from April 19 to April 26 of 6.47 sen per share. (Bursa Malaysia) Tatt Giap Group Bhd returned to the black in 3QFY18 with a net profit of RM1.4mn compared to a net loss of RM3.6mn in the previous year’s corresponding quarter on higher gross profit margin and a RM3.9mn disposal gain of a 41% equity interest in Tatt Giap Steel Centre. However, Tatt Giap remained in the red for 9MFY18 with a net loss of RM2.1mn. (Bursa Malaysia) Atlan Holdings Bhd’s net profit for 4QFY18 more than doubled to RM26.4mn, mainly owing to the reversal of provision of guarantees amounting to RM14.9mn. It also attributed the increase in earnings to the duty free segment’s increase in demand for certain products and sales mix as well as the lower operating and administrative expenses incurred by its property and hospitality segment. FY18 profit amounted to RM49.0mn compared with last year’s profit of RM54.5mn. (Bursa Malaysia) ViTrox Corp Bhd’s net profit for 1QFY18 rose to RM20.3mn from RM18.6mn a year earlier, on higher revenue from its automated board inspection (ABI) business. It attributed the higher revenue from the ABI business to an increase in demand from a wider customer base and positive acceptance of its products. (Bursa Malaysia) Pavilion Real Estate Investment Trust net property income rose 13% to RM89.0mn in 1QFY18, from RM79.0mn in the previous year’s corresponding quarter. This was due to higher contribution from Pavilion Kuala Lumpur Mall's tenants following a repositioning exercise, and higher occupancy rate at the Intermark Mall. (Bursa Malaysia) Frontken Corp Bhd's 1QFY18 net profit rose 25% YoY to RM6.3mn from RM5.0mn, as revenue improved on growth in the group's semiconductor support services business. It undertakes its semiconductor support services business via 88.77%-owned subsidiary Ares Green Technology Corp. (Bursa Malaysia) LPI Capital Bhd's net profit for 1QFY18 rose 2.8% YoY to RM72.5mn from RM70.6mn, driven mainly by Lonpac Insurance Bhd (Lonpac). Lonpac saw its gross premium income for the quarter under review expand by 16.2% to RM483.2mn from RM415.7mn previously, due to organic growth from the group’s diversified distribution channels, particularly its agency network. (Bursa Malaysia/The Edge) Page 4 of 7
  7. 27-Apr-18 N e w s I n B r i e f Economy Asia Bank Negara Appoints Two New AGs Bank Negara has appointed two new assistant governors , Nazrul Hisyam Mohd Noh and Tan Nyat Chuan, with effect from May 1. As assistant governor, Nazrul Hisyam will act as the chief of staff and the secretary to Bank Negara board of directors, the central bank said in a statement. He will be responsible for the Governor’s office, strategic communications and strategic management departments. Prior to his appointment as chief of staff in 2016, Nazrul Hisyam served the bank for almost 20 years in several capacities, most recently as the director of the international department. Meanwhile. Tan will be responsible for payment systems policy matters. He will also serve in several capacities director of Payments Network Malaysia Sdn Bhd, and a member of the Bank Negara’s financial stability committee and risk management committee. (The Star) Australia 1Q Import Prices Rise More than Expected Australia's import prices increased at a faster-than-expected pace in the three months ended March, figures from the Australian Bureau of Statistics. The import price index climbed 2.1% sequentially in the first quarter, following a 2.0% slight rise in the fourth quarter of 2017. It was the second consecutive quarterly increase. That was above the 1.2% rise economists had forecast. The increase was driven by higher prices paid for petroleum, petroleum products and related materials, road vehicles, inorganic chemicals and plastics in primary forms. On a yearly basis, imports prices grew at a faster rate of 2.3% in the March quarter, after a 1.4% gain in the December quarter. Data also revealed that export prices rose 4.9% quarterly in the first quarter, following a 2.8% increase in the prior month. As compared to the corresponding period last year, the index dropped by 1.4%. (RTT) United States U.S. Durable-Goods Orders Rose 2.6% in March Demand for long-lasting U.S. factory goods rose in March due to increased aircraft orders, but an underlying proxy for business investment fell. Orders for durable goods— manufactured products intended to last at least three years, such as stoves and industrial robots—increased a seasonally adjusted 2.6% in March from the prior month, the Commerce Department said. Transportation equipment, which clocked gains in four out of the past five months, drove March’s durable-goods increase. Within this category, nondefense aircraft and parts orders rose 44.5% on the month, suggesting a strong first quarter of aircraft orders at manufacturer Boeing Co. helped drive the headline figure. When excluding the transportation category, durable-goods orders were virtually unchanged in March from the previous month. Excluding defense goods, another, more volatile category, orders rose 2.8% last month. Overall orders were also up four out of the last five months and saw a largerthan-expected monthly gain in February too, when orders rose 3.5%. In the longer term, orders for long-lasting factory goods have marched higher since the middle of 2016. Orders rose 8.7% in the first quarter of 2018 compared to last year. (WSJ) U.S. Jobless Claims Drop to Lowest Level Since 1969 The number of Americans applying for unemployment benefits fell to the lowest level since 1969, the latest sign the labor market is firming after years of steady job growth. Initial jobless claims, a measure of layoffs across the U.S., fell 24,000 to a seasonally adjusted 209,000 in the week through April 21, the Labor Department said Thursday. That was the lowest level since Dec. 6, 1969, early in the Nixon administration. Economists surveyed by The Wall Street Journal expected 228,000 claims. The government’s method for estimating claims is imprecise, and figures are often adjusted as more data come in. A Labor Department economist said he knew of no factors, such as holidays, that may have obscured the latest estimate. The broader trend suggests claims are indeed falling. The four-week moving average of claims, which reduces volatility in the data, fell 2,250 last week to 229,250. (WSJ) Page 5 of 7
  8. 27-Apr-18 Europe and Uni ted Kingdom ECB Signals Faith in Economy as It Maintains Policy Mix European Central Bank President Mario Draghi said he expects economic growth in the Eurozone to remain solid , indicating that signs of a slowdown haven’t prompted policy makers to reassess their stimulus policies. The Eurozone economy grew at the fastest pace in a decade during 2017, prompting the central bank to halve its monthly purchases of bonds under a stimulus program known as quantitative easing in January. Analysts expect the ECB to make a decision in June or July to phase out the bond-buying program by December— four years after the Federal Reserve halted its own quantitative-easing program. The ECB on Thursday left its large monetary stimulus unchanged amid fractious financial markets and signs that the Eurozone economy is slowing. The ECB said in a statement that it would continue to buy €30 billion ($36.4 billion) a month of Eurozone bonds at least through September, and would leave its key interest rate unchanged at minus 0.4%. The decision to stand pat, which was expected, comes as ECB officials size up burgeoning risks in the world economy that range from a volatile currency to rising oil prices to possible trade wars. (WSJ) UK Mortgage Approvals at 3-Month Low UK mortgage approvals declined to a 3-month low in March, data from UK Finance showed. The number of loans approved for house purchases fell to a seasonally adjusted 37,567 in March from 38,035 in February. This was the lowest level seen since December. It was forecast to ease to 37,150. Gross mortgage lending decreased 2.3% from a year earlier to GBP 20.5 billion in March. Card spending dropped 1.2% in March with repayments outstripping new lending in the first quarter of 2018. Separately, British retailers expect retail sales volume to recover next month, data from the Confederation of British Industry showed. The retail sales balance came in at -2% in April compared to a healthier expectations of +16%. Nonetheless, a balance of 25% expects sales volume to expand in May. (RTT) Germany Consumer Confidence to Fall in May German consumer sentiment is set to weaken in May due to rising insecure state of geopolitics, survey data from the market research group GfK showed. The consumer climate index dropped 0.1 point to 10.8 in May. The score came in line with expectations. The survey revealed that the West's confrontation with Russia in the Syria conflict is escalating and is clearly causing increasing anxiety among consumers in terms of Germany's future economic prospects. Among components of the index, economic expectations and income expectations weakened in April. In contrast, propensity to buy maintained its already very high level. The economic expectation indicator slid 8.5 points to 37.4 in April. (RTT) Page 6 of 7
  9. 27-Apr-18 Share Buy-Back 26-April 2018 Company FIMACOR GBGAQRS GRANFLO HAIO INCKEN JCBNEXT KOMARK KSL N2N RCECAP SIGN SNTORIA SYSCORP YILAI Bought Back 10 ,300 13,000 35,100 27,200 15,000 15,000 55,000 500,000 2,044,600 20,000 60,000 40,000 270,000 61,000 Price (RM) Hi/ Lo (RM) 1.96/1.95 1.65/1.64 0.215/0.21 4.89/4.85 0.69/0.685 1.78 0.18 0.93/0.925 0.955/0.915 1.32/1.31 0.53/0.525 0.60/0.585 0.25 0.72 1.96/1.95 1.69/1.61 0.215/0.205 4.92/4.84 0.69/0.685 1.78 0.175/0.17 0.94/0.925 0.90/0.875 1.34/1.30 0.53/0.525 0.60/0.56 0.25/0.24 0.72 Total Treasury Shares 4,555,200 801,002 9,489,000 9,265,488 17,861,400 317,100 7,635,000 20,292,400 17,466,700 14,510,425 13,567,100 8,205,800 6,496,800 11,498,008 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 7 of 7
  10. 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 26-Apr-18 AUTOMOBILE BAUTO 2.18 2.33 6.9% Buy 2,527 0.55 12.1 19.0 18.0 11.5 5.0 5.3 2.47 -11.7 1.84 18.5 -0.9 MBMR 2.43 2.68 10.3% Hold 950 0.70 24.7 26.9 9.8 9.0 2.5 2.9 2.60 -6.5 2.01 20.9 10.5 -25.2 PECCA 1.16 1.62 39.7% Buy 214 0.64 9.7 10.9 12.0 10.6 4.3 4.3 1.70 -31.8 1.12 3.6 SIME 2.55 2.55 0.0% Sell 17,342 1.64 13.2 16.4 19.3 15.6 1.3 1.6 3.06 -16.7 2.03 25.8 15.4 UMW 6.07 5.52 -9.1% Sell 7,092 1.42 28.6 40.2 21.2 15.1 2.3 3.3 6.98 -13.0 4.70 29.1 16.7 BANKS & FINANCIAL SERVICES ABMB 4.32 4.60 6.5% Sell 6,688 1.11 32.6 35.8 13.2 12.1 3.7 3.7 4.49 -3.8 3.62 19.3 5.9 AFFIN 2.52 2.40 -4.8% Sell 4,896 0.93 22.2 23.9 11.3 10.5 3.2 3.2 2.98 -15.0 2.22 13.9 9.5 AMBANK 3.73 4.70 26.0% Buy 11,243 1.56 38.1 44.4 9.8 8.4 4.8 4.8 5.70 -34.6 3.61 3.3 -15.4 CIMB 7.20 8.60 19.4% Buy 66,424 1.57 58.2 59.9 12.4 12.0 4.0 4.2 7.39 -2.6 5.71 26.1 10.1 HLBANK 18.88 21.30 12.8% Buy 38,621 0.87 116.8 126.8 16.2 14.9 2.5 2.5 20.02 -5.7 13.74 37.4 11.1 MAYBANK 10.68 11.50 7.7% Buy 116,626 1.01 73.8 77.9 14.5 13.7 5.1 5.1 10.72 -0.4 9.10 17.4 9.0 PBBANK 23.72 27.30 15.1% Buy 91,595 0.68 153.3 166.5 15.5 14.2 2.4 2.5 24.50 -3.2 19.90 19.2 14.1 RHBBANK 5.31 6.10 14.9% Buy 21,293 1.56 54.3 59.0 9.8 9.0 2.8 2.8 5.61 -5.3 4.71 12.7 6.2 BURSA 7.26 8.07 11.2% Buy 5,853 0.89 29.2 30.0 24.8 24.2 3.3 3.3 7.65 -5.1 6.31 15.0 7.6 ANNJOO 2.97 4.34 46.1% Buy 1,590 1.25 43.5 46.3 6.8 6.4 7.3 8.3 3.98 -25.4 2.80 6.1 -23.1 CHINHIN 1.10 1.32 20.0% Buy 612 0.93 10.7 10.5 10.3 10.4 5.5 4.9 1.49 -26.2 1.00 10.6 -9.1 CSCSTEL 1.34 1.70 26.9% Buy 495 0.87 17.4 17.9 7.7 7.5 7.0 7.1 2.05 -34.5 1.27 5.5 -13.0 ENGTEX 0.99 1.38 39.4% Buy 431 0.89 13.8 15.7 7.2 6.3 4.2 5.5 1.52 -34.9 0.96 3.1 -10.0 GADANG 0.81 1.34 65.4% Buy 536 1.35 14.0 16.6 5.8 4.9 3.7 3.7 1.37 -40.9 0.80 1.2 -27.0 GAMUDA 5.12 5.84 14.1% Buy 12,606 0.84 34.4 36.4 14.9 14.1 2.3 2.3 5.52 -7.2 4.58 11.8 3.2 IJM 2.73 2.96 8.4% Hold 9,904 1.40 13.7 18.6 19.9 14.7 3.5 3.5 3.60 -24.2 2.53 7.9 -10.5 BUILDING MATERIALS CONSTRUCTION KAB 0.23 0.38 66.7% Buy 7 na 31.4 37.3 0.7 0.6 4.4 5.3 0.33 -31.8 0.20 12.5 -25.0 PESONA 0.30 0.45 52.5% Buy 205 1.52 4.8 4.6 6.1 6.4 5.1 5.1 0.73 -59.6 0.30 0.0 -34.4 SENDAI 0.87 0.79 -9.2% Sell 679 1.49 9.9 8.7 8.8 9.9 1.1 1.1 1.39 -37.4 0.68 27.9 0.6 SUNCON 2.12 2.65 25.0% Hold 2,740 0.80 14.7 16.4 14.4 12.9 3.8 4.2 2.64 -19.7 1.90 11.6 -15.5 WCT 1.22 1.50 23.0% Sell 1,716 1.15 11.3 10.8 10.8 11.3 2.5 2.5 2.48 -50.7 1.13 8.0 -24.7 LITRAK 5.70 6.26 9.8% Hold 3,009 0.38 45.6 47.1 12.5 12.1 4.4 4.4 6.15 -7.3 5.40 5.6 2.7 CARLSBG 19.48 18.09 -7.1% Buy 5,992 0.71 87.8 91.8 22.2 21.2 4.4 4.5 21.00 -7.2 14.36 35.7 27.3 HEIM 20.44 21.64 5.9% Hold 6,175 0.47 93.0 101.6 22.0 20.1 3.7 3.9 23.04 -11.3 17.30 18.2 8.1 AEON 2.03 1.97 -3.0% Buy 2,850 0.33 7.5 8.9 27.0 22.7 2.2 2.5 2.52 -19.4 1.45 40.0 15.3 AMWAY 7.60 8.59 13.0% Buy 1,249 0.54 48.3 49.9 15.7 15.2 5.3 5.4 8.10 -6.2 6.97 9.0 4.0 F&N 35.46 33.74 -4.9% Buy 12,998 0.54 122.7 145.8 28.9 24.3 2.3 2.7 35.80 -0.9 23.40 51.5 31.3 CONSUMER Brewery Retail HUPSENG 1.09 1.25 14.7% Buy 872 0.41 5.7 5.9 19.1 18.4 5.5 5.5 1.28 -14.8 1.02 6.9 0.0 JOHOTIN 0.92 1.48 60.9% Buy 286 1.18 11.1 11.7 8.3 7.8 6.5 7.1 1.76 -47.7 0.90 2.2 -24.0 NESTLE 136.50 129.90 -4.8% Sell 32,009 0.58 322.2 360.2 42.4 37.9 2.2 2.4 163.00 -16.3 81.00 68.5 32.3 PADINI 4.39 4.67 6.4% Sell 2,888 0.83 28.0 30.4 15.7 14.4 2.8 3.0 5.50 -20.2 3.11 41.3 -16.9 -31.3 POHUAT 1.23 1.78 44.7% Buy 270 0.54 20.1 23.1 6.1 5.3 4.9 6.5 2.07 -40.5 1.15 7.0 QL 5.14 5.41 5.3% Hold 8,339 0.67 13.3 15.5 38.5 33.1 0.9 0.9 5.24 -1.9 3.64 41.3 18.2 SIGN 0.53 0.92 75.2% Buy 119 0.88 6.6 8.7 7.9 6.0 4.8 6.7 1.06 -50.5 0.48 9.4 -25.5 24.70 34.72 40.6% Buy 7,053 1.31 170.8 168.8 14.5 14.6 6.5 6.5 46.44 -46.8 22.62 9.2 -38.3 GENTING 8.66 11.58 33.7% Buy 33,181 1.37 55.1 61.8 15.7 14.0 1.8 1.8 9.92 -12.7 8.47 2.2 -5.1 GENM 4.93 6.68 35.5% Buy 27,897 1.49 27.6 32.0 17.9 15.4 2.4 2.6 6.28 -21.5 4.59 7.4 -11.1 2.08 3.22 54.8% Buy 2,802 0.56 19.9 26.0 10.5 8.0 7.7 8.7 2.84 -26.8 2.06 1.0 -7.1 CCMDBIO 2.88 3.40 18.1% Buy 803 0.85 16.2 17.7 17.8 16.3 1.6 1.7 3.05 -5.6 1.97 46.2 13.8 IHH 6.06 6.40 5.6% Sell 49,932 0.69 11.9 15.0 51.0 40.5 0.5 0.6 6.33 -4.3 5.42 11.8 3.4 KPJ 0.91 1.13 24.2% Buy 3,834 0.68 3.9 4.3 23.3 20.9 2.4 2.7 1.14 -20.2 0.84 8.3 -6.2 HARTA 5.86 7.80 33.1% Sell 19,408 0.97 12.6 14.4 46.6 40.7 1.3 1.5 6.64 -11.7 2.45 139.2 9.7 KOSSAN 6.45 9.73 50.9% Buy 4,125 0.48 37.4 42.1 17.2 15.3 2.9 3.3 8.79 -26.6 5.62 14.8 -20.5 Tobacco BAT GAMING Casino NFO BJTOTO HEALTHCARE Hospitals/ Pharmaceutical Rubber Gloves SUPERMX 2.84 2.70 -4.9% Buy 1,862 0.57 20.0 22.6 14.2 12.6 1.8 2.2 3.01 -5.6 1.69 68.0 42.0 TOPGLOV 9.42 12.20 29.5% Buy 12,032 0.52 35.3 42.7 26.7 22.1 1.5 1.8 10.44 -9.8 4.56 106.6 17.9 KAREX 0.77 0.93 21.6% Sell 767 0.81 1.8 3.0 43.2 25.3 0.6 1.0 2.26 -66.2 0.75 2.0 -41.2 SCIENTX 7.62 10.01 31.4% Buy 3,726 0.95 67.5 79.4 11.3 9.6 2.8 3.4 9.85 -22.6 7.45 2.3 -12.0 SKPRES 1.40 2.00 42.9% Buy 1,750 0.93 10.4 13.1 13.5 10.7 3.7 4.6 2.35 -40.4 1.25 12.0 -38.6 ASTRO 1.81 2.90 60.2% Buy 9,437 0.96 12.4 13.8 14.5 13.1 6.9 6.9 2.94 -38.4 1.75 3.4 -31.7 MEDIA PRIMA 0.31 0.45 47.5% Sell 338 1.38 -3.8 -1.7 na na 0.0 0.0 1.20 -74.6 0.29 5.2 -59.9 STAR 1.08 1.20 11.1% Sell 797 1.16 6.2 5.9 17.4 18.2 8.3 8.3 2.22 -51.3 1.04 3.8 -34.5 INDUSTRIAL MEDIA
  11. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price Target Price (RM) (RM) % upside Recom Market Cap. (RMm) BETA EPS (sen) FY18 FY19 PER (X) FY18 FY19 Div Yield (%) FY18 FY19 52weeks 52weeks % Chg High Price % Chg Low Price % Chg YTD OIL & GAS DNEX 0.37 0.69 86.5% Buy 650 1.93 4.0 4.3 9.3 8.6 2.7 2.7 0.69 -46.4 0.34 10.4 -23.7 LCTITAN 6.33 7.60 20.1% Buy 14,388 na 56.3 60.9 11.2 10.4 3.9 4.3 6.53 -3.1 4.14 52.9 34.7 MHB 0.78 0.81 3.8% Sell 1,248 1.42 0.5 1.7 162.4 46.8 0.0 0.0 1.02 -23.5 0.63 24.8 -5.5 MISC 7.01 7.00 -0.1% Sell 31,291 1.05 50.1 53.8 14.0 13.0 4.3 4.3 7.90 -11.3 6.73 4.2 -5.5 PANTECH 0.57 0.78 36.8% Buy 424 1.43 6.2 6.9 9.2 8.2 4.9 5.4 0.74 -23.0 0.51 11.8 -11.6 PCHEM 8.41 9.00 7.0% Hold 67,280 0.89 52.5 54.0 16.0 15.6 3.1 3.3 8.61 -2.3 6.80 23.7 9.2 SAPNRG 0.68 0.84 24.4% Buy 4,045 2.84 -5.0 -1.7 na na 0.0 0.0 2.02 -66.6 0.40 70.9 -4.9 SERBADK 3.21 4.15 29.3% Buy 4,714 na 27.7 31.6 11.6 10.2 2.8 3.1 3.68 -12.8 1.79 79.3 -0.9 UMWOG 0.28 0.39 41.8% Buy 2,259 2.54 0.4 1.2 72.0 23.7 0.0 0.0 0.68 -59.5 0.22 27.9 -9.8 UZMA 1.35 1.57 16.3% Hold 432 1.26 12.9 13.9 10.5 9.7 0.0 0.0 1.87 -27.8 1.18 14.4 5.5 FGV 1.71 2.09 22.2% Buy 6,238 1.67 2.0 3.4 84.6 50.2 2.9 2.9 2.18 -21.6 1.51 13.2 1.2 IJMPLNT 2.34 2.23 -4.7% Sell 2,061 0.21 6.5 8.2 35.8 28.5 3.4 3.8 3.22 -27.3 2.19 6.8 -14.6 IOICORP 4.77 5.43 13.8% Buy 29,127 0.95 19.0 21.3 25.1 22.4 5.5 3.5 4.81 -0.8 4.21 13.4 7.7 KFIMA 1.46 1.89 29.5% Buy 411 0.73 13.7 13.8 10.7 10.6 6.2 6.2 1.96 -25.5 1.44 1.4 -7.0 KLK 25.50 27.76 8.9% Hold 27,157 0.65 107.6 116.0 23.7 22.0 2.1 2.2 25.98 -1.8 23.80 7.1 2.0 SIMEPLT 5.56 6.27 12.8% Hold 37,813 na 19.6 20.0 28.4 27.9 2.5 2.9 6.00 -7.3 4.58 21.4 -7.3 TSH 1.32 1.81 37.1% Buy 1,823 0.46 9.3 9.6 14.2 13.7 1.8 1.9 1.82 -27.5 1.30 1.5 -20.0 UMCCA 6.05 6.21 2.6% Sell 1,269 0.39 17.0 22.4 35.7 27.0 2.6 3.0 7.08 -14.5 5.97 1.3 -7.1 GLOMAC 0.50 0.40 -20.0% Sell 397 0.66 1.5 2.5 33.1 20.2 2.0 2.0 0.65 -22.5 0.45 11.1 -9.8 HUAYANG 0.48 0.58 22.1% Sell 167 0.94 0.7 3.4 71.6 14.0 1.1 1.1 1.12 -57.6 0.44 8.0 -22.1 IBRACO 0.51 0.80 56.9% Buy 253 na 7.2 10.7 7.0 4.8 5.9 7.8 0.92 -44.6 0.50 2.0 -37.4 IOIPG 1.57 1.92 22.3% Buy 8,645 0.97 14.9 14.7 10.6 10.7 3.8 3.8 2.22 -29.3 1.50 4.7 -15.1 MAHSING 1.01 1.59 57.4% Buy 2,452 0.88 11.8 11.3 8.5 9.0 6.4 6.4 1.64 -38.4 0.98 3.1 -30.3 SIMEPROP 1.43 1.51 5.6% Hold 9,725 na 7.5 7.5 19.0 19.1 2.8 2.1 1.78 -19.7 1.04 37.5 -19.7 SNTORIA 0.59 0.76 28.8% Buy 330 0.31 8.3 8.6 7.1 6.9 1.7 1.7 0.82 -27.9 0.56 5.4 -15.1 SPB 4.25 5.10 20.0% Hold 1,460 0.68 18.7 24.0 22.7 17.7 2.8 2.8 5.50 -22.7 4.14 2.7 -13.3 SPSETIA 3.06 3.73 21.9% Buy 11,903 1.07 19.8 19.4 15.4 15.8 3.9 3.9 4.38 -30.2 2.77 10.5 -23.5 SUNWAY 1.52 1.75 15.1% Hold 7,406 0.98 11.8 12.4 12.9 12.2 3.9 3.9 1.96 -22.4 1.46 4.1 -6.7 SUNREIT 1.62 1.87 15.4% Hold 4,771 1.05 10.0 10.7 16.2 15.2 6.2 6.6 1.90 -14.7 1.48 9.5 -14.7 CMMT 1.15 1.48 28.7% Buy 2,347 0.90 7.9 8.4 14.5 13.8 7.1 7.5 1.83 -37.2 0.98 17.3 -37.2 PLANTATIONS PROPERTY REIT POWER & UTILITIES MALAKOF 0.90 0.82 -8.4% Sell 4,420 1.04 6.7 7.2 13.5 12.3 7.8 7.8 1.27 -29.5 0.85 5.3 -8.7 PETDAG 26.96 24.08 -10.7% Sell 26,784 0.61 114.7 116.3 23.5 23.2 3.2 3.2 28.18 -4.3 20.81 29.5 12.1 PETGAS 18.00 19.46 8.1% Buy 35,617 0.88 99.3 100.0 18.1 18.0 3.9 3.9 19.80 -9.1 15.82 13.8 3.0 TENAGA 15.84 18.22 15.0% Buy 89,749 0.62 131.3 127.5 12.1 12.4 4.1 4.0 16.34 -3.1 13.72 15.5 3.8 YTLPOWR 0.92 1.16 26.1% Sell 7,295 0.94 8.5 8.7 10.9 10.5 5.4 5.4 1.50 -38.7 0.92 0.5 -28.7 TELECOMMUNICATIONS AXIATA 5.16 6.50 26.0% Buy 46,697 1.61 15.9 19.4 32.4 26.5 1.6 3.0 5.82 -11.3 4.54 13.7 -6.0 DIGI 4.57 5.15 12.7% Buy 35,532 0.93 19.6 20.2 23.3 22.6 4.3 4.4 5.18 -11.8 4.36 4.8 -10.4 MAXIS 5.80 5.95 2.6% Sell 45,301 1.05 24.9 24.8 23.3 23.4 3.3 3.3 6.60 -12.1 5.30 9.4 -3.5 TM 5.20 7.20 38.5% Buy 19,541 0.64 22.8 24.9 22.8 20.9 4.0 4.3 6.69 -22.3 4.90 6.1 -17.5 ELSOFT 2.50 3.30 32.0% Buy 688 0.95 13.1 15.0 19.1 16.7 3.7 4.2 2.95 -15.3 2.11 18.5 -7.4 IRIS 0.17 0.22 29.4% Buy 420 2.48 0.0 0.3 618.0 53.7 0.0 0.0 0.25 -30.6 0.14 25.9 -8.1 INARI 1.77 2.43 37.3% Buy 5,512 0.58 9.1 10.2 19.4 17.4 5.6 6.2 2.55 -30.5 1.32 34.4 -21.9 MPI 7.76 10.70 37.9% Buy 1,543 1.06 73.9 86.9 10.5 8.9 4.1 4.1 14.52 -46.6 7.60 2.1 -38.5 UNISEM 1.82 2.75 51.1% Buy 1,336 1.16 13.1 18.6 13.9 9.8 6.6 6.6 4.25 -57.2 1.78 2.2 -50.1 TECHNOLOGY Semiconductor & Electronics TRANSPORTATION Airlines AIRASIA 3.74 4.93 31.8% Hold 12,499 0.83 41.1 41.1 9.1 9.1 2.1 2.1 4.75 -21.3 2.89 29.4 11.6 AIRPORT 8.83 8.61 -2.5% Sell 14,651 1.12 18.0 18.8 49.1 47.0 1.5 1.1 9.45 -6.6 7.38 19.6 0.5 Freight & Tankers PTRANS 0.25 0.46 84.0% Buy 317 na 2.3 3.7 10.9 6.7 2.8 4.5 0.38 -34.5 0.22 12.2 -10.7 TNLOGIS 1.10 1.45 31.8% Buy 501 0.99 10.3 10.5 10.7 10.5 4.5 4.5 1.79 -38.7 0.99 11.1 -17.9 WPRTS 3.39 4.06 19.8% Buy 11,560 0.40 15.6 20.0 21.7 16.9 3.4 4.4 4.06 -16.5 3.12 8.7 -8.4 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 29.74 30.50 2.6% Buy 76,250 1.13 212.3 246.0 14.0 12.1 2.2 2.4 30.0 -0.9 19.19 55.0 19.7 OCBC 13.76 14.30 3.9% Buy 57,552 1.18 109.5 123.3 12.6 11.2 6.7 7.7 13.8 -0.3 9.71 41.7 11.1 UOB 29.39 27.80 -5.4% Hold 48,813 1.17 216.8 244.1 13.6 13.6 2.7 2.7 29.7 -1.0 21.26 38.2 11.9 PLANTATIONS WILMAR 3.23 3.50 8.4% Buy 20,667 0.89 25.4 27.7 12.7 11.6 3.1 3.4 3.9 -16.5 2.97 8.8 4.5 IFAR 0.32 0.37 15.6% Buy 459 1.06 3.1 3.9 10.5 8.3 1.3 1.7 0.5 -37.9 0.32 1.6 -17.9 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.
  12. COMPANY UPDATE Friday , April 27, 2018 FBMKLCI: 1,852.27 Sector: Building Materials THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TP: RM1.32 (+20.0%) Chin Hin Group Bhd Last Traded: RM1.10 Focuses on New AAC Plant and Prefabricated Modular Project Chan Mun Chun Tel: +603-2167 1264 mcchan@ta.com.my Following our recent meetup with the management, we remain optimistic on Chin Hin’s near-term outlook, backed by its strong order book of RM497.3mn. We believe the earnings growth will still be mainly driven by manufacturing segment, especially from manufacturing of Autoclaved Aerated Concrete (AAC) and maiden contribution from prefabricated modular building system project in Pengerang, Johor. In addition, we also foresee turnaround in wire mesh segment and greater contribution from associates. Meanwhile, we expect the contribution from distribution of building materials and logistics segment together with ready-mixed concrete segment to remain lacklustre. All in, we maintain Buy call with a target price of RM1.32. Buy www.taonline.com.my Bloomberg Code CHIN MK Bursa CHINHIN Stock Code 5273 Main Market Listing Share Cap (mn) 556.4 612.0 Market Cap (RMmn) 1.49/0.995 52-wk Hi/Lo (RM) 611.4 12-mth Avg Daily Vol ('000 shrs) 29.0 Estimated Free Float (%) Beta 0.9 Major Shareholders (%) Divine Inventions - 42.94 Chiau Beng Teik- 16.94 Forecast Revision Manufacturing Segment Remains as the Earnings Growth Driver The demand for AAC products remains strong as the existing AAC plant is running at full capacity. The new AAC plant in Kota Tinggi, Johor is scheduled to commence operation in May 2018. This will more than double the existing capacity from 435k m3 to 1.04mn m3 and the additional capacity is expected to ease the lead time. Given the proximity of the new plant, it will be able to take in order for projects in Pengerang, Johor, as well as orders from Singapore. The added capacity is expected to strengthen its dominance in the local AAC market. Meanwhile, the management has implemented a turnaround plan for the wire mesh segment. Upon securing new orders, the group will lock in the price with the upstream manufacturers in order to minimize the risk of fluctuation of raw material price. Therefore, we foresee the wire mesh segment to return to the black in this year. On the other hand, management expects greater contribution from associates especially from 45%-owned Atlantic Blue, a company that is involved in solar power energy, and has about RM200mn contract in hand currently. This will translate into a net profit of RM4mn – RM5mn to the group for FY18. Forecast Revision (%) Net profit (RMmn) Consensus TA's / Consensus (%) Previous Rating FY18 FY19 (6.5) (5.3) 59.4 58.6 57.8 60.4 102.7 97.0 Buy (Maintained) Financial Indicators Net Debt / Equity (%) CFPS (sen) Price / CFPS (x) ROA (%) NTA/Share (RM) Price/NTA (x) Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth FY18 79.6 (4.0) (27.6) 5.9 0.8 1.4 FY19 59.7 6.8 16.2 6.0 0.9 1.3 CHINHIN 0.9 (4.3) (16.0) (19.7) FBM KLCI (0.4) (0.1) 6.7 4.7 (12-Mth) Share Price relative to the FBMKLCI The group manufacturing segment currently has a healthy total order book of RM497.3mn, which could last the group for another 12 to 16 months. Update on the Pengerang Project Recall, the group’s 70%-indirectly-owned subsidiary, Metex Modular Sdn. Bhd., had won a job in December 2017 to construct an integrated workers complex with facilities in Pengerang, Johor for a contract sum of RM238.3mn. Based on management guidance, the project has achieved about 30% completion and it is on track to be delivered by the end of 2018. Successful execution of the project would beef up its track record to bid for more similar projects locally and abroad. Source: Bloomberg Page 1 of 3
  13. 27-Apr-18 Distribution of Building Materials and Logistics , and Ready-mixed Concrete Segment Remain Flattish The management remains cautious on the outlook of the property market. Hence, the contribution from both distribution and ready-mixed concrete segments is expected to stay lacklustre this year due to persisting weak sentiment in the property market. We are of the view that the group may face further margin squeeze in these 2 segments as the building material market is expected to remain highly competitive and challenging. Expect 50% of dividend payout for FY18 The management has yet to commit any timeline to establish a dividend policy but we understand that the management is looking to reward the shareholder by targeting to pay up to 50% of net profit as dividend for FY18. Impact We trim our earnings forecast for FY18-FY20 by 6.5%, 5.3%, and 6.1% respectively after taking into accounts of lower revenue contribution and margin squeeze from both distribution of building materials and logistics, and ready-mixed concrete segments. Valuation Subsequent to the revision in earnings forecasts, we lower the target price from RM1.39 to RM1.32, based on 12x CY18 earnings. Maintain BUY call on the stock as we believe the earnings growth will be supported by i) additional capacity from new AAC plant ii) maiden contribution from Pengerang project iii) greater contribution from associates and iv) recovery in wire mesh segment. Page 2 of 3
  14. 27-Apr-18 Earnings Summary Profit & Loss (RMmn) YE Dec 31 Revenue 2016 2017 2018F 2019F 2020F 1058.8 1015.6 1460.9 1292.3 1316.5 EBITDA Balance Sheet (RMm) YE Dec 31 2016 2017 2018F 2019F Fixed assets 293.7 381.1 372.7 364.9 357.5 71.4 130.2 130.2 130.2 130.2 487.7 2020F 83.7 71.4 126.6 115.2 110.2 Others Dep. & amortisation (16.3) (18.4) (23.9) (23.4) (22.9) NCA 365.1 511.2 502.9 495.0 Net finance cost (16.3) (16.3) (16.9) (15.8) (7.5) Cash 73.5 43.4 21.9 58.5 62.2 51.2 39.3 85.7 76.0 80.8 Others 381.9 403.2 477.9 426.8 432.3 CA 455.4 446.6 499.8 485.3 494.5 Total assets 820.4 957.8 1002.7 980.3 982.1 ST borrowings 284.1 316.2 297.2 265.1 233.0 Other liabilities 169.0 168.6 199.5 179.9 182.7 CL 453.0 484.8 496.7 445.0 415.8 Shareholders' funds 324.3 400.2 433.2 462.4 493.5 36.3 66.2 66.2 66.2 66.2 6.8 6.6 6.6 6.6 6.6 43.1 72.8 72.8 72.8 72.8 Total capital 820.4 957.8 1002.7 980.3 982.1 Ratio YE Dec 31 2016 2017 2018F 2019F 2020F PBT Taxation (9.7) (9.8) (19.7) (17.5) (18.6) Net profit 41.4 29.6 66.0 58.6 62.2 Core net profit 33.8 29.6 59.4 58.6 62.2 GDPS (sen) 3.5 3.5 6.1 5.4 5.8 Div Yield (%) 3.2 3.2 5.6 4.9 5.2 Cash Flow (RMm) YE Dec 31 2016 2017 2018F 2019F 2020F PBT 51.2 39.3 85.7 76.0 80.8 LT borrowings Non cash expenses 18.3 32.3 40.9 39.2 30.5 Other LT liabilities Non Operating expenses (26.5) (29.1) (36.6) (33.3) (26.1) Changes in WC (36.9) (11.9) (43.9) 31.5 (2.7) 6.0 30.6 46.1 113.5 82.5 Operational cash flow (63.8) (102.0) Capex Others 12.0 (61.9) (20.0) (20.0) (20.0) 4.4 4.4 4.4 NCL Investment cash flow (51.8) (163.8) (15.6) (15.6) (15.6) EBITDA Margins (%) 7.9 7.0 8.7 8.9 8.4 Debt raised/(repaid) (77.5) 60.2 (9.0) (12.1) (12.1) Core EPS (sen) 6.8 5.6 11.0 10.8 11.5 Dividend (7.6) (19.5) (33.0) (29.3) (31.1) EPS Growth (%) (0.1) (17.3) 94.8 (1.4) 6.2 Others 34.1 63.6 (10.0) (20.0) (20.0) PER (x) 16.1 19.5 10.0 10.1 9.6 (51.0) 104.4 Financial cash flow GDPS (sen) 3.5 3.5 6.1 5.4 5.8 Div Yield (%) 3.2 3.2 5.6 4.9 5.2 (250.5) (341.6) (344.1) Net gearing (%) 77.2 85.5 79.6 59.7 48.6 ROE (%) 11.5 8.2 14.3 13.1 13.0 ROA (%) 4.1 3.1 5.9 6.0 6.3 NTA (RM) 0.7 0.8 0.8 0.9 0.9 P/NTA(x) 1.7 1.4 1.4 1.3 1.2 (52.0) (61.3) (63.2) 0.2 (0.1) 0.0 0.0 0.0 Net cash flow (96.5) (28.9) (21.5) 36.6 3.7 Beginning cash 165.9 69.4 40.5 19.0 55.5 Net cash (RMmn) 69.4 40.5 19.0 55.5 59.2 Forex effect Ending cash (275.4) (239.6) 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 27, 2018, the analyst, Chan Mun Chun, 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
  15. Friday , 27 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
  16. Technical View Friday , April 27, 2018 S REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Malaysia FBM KLCI: 1,852.27 (+0.34, +0.02%) Chartist: Stephen Soo Close Name 26/Apr FBMKLCI 1852.27 Tel: +603-2167 9607 Change High Low 0.34 1,863.57 1,846.54 Bollinger Bands RSI stsoo@ta.com.my Moving Averages www.taonline.com.my DMI MACD DMI Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff 1,825.32 1,862.99 1,900.67 44.82 1,876.12 1,861.47 1,858.09 23.53 30.50 14.37 (6.96) 5.37 6.24 (0.87) MACD Recent Signal SELL SELL DMI MACD Signal Change SELL SELL - AFFIN 2.52 -0.04 2.56 2.51 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 4.32 0.13 4.32 4.15 4.13 4.30 4.48 44.55 4.34 4.29 4.23 15.76 21.02 20.96 (5.26) 0.02 0.04 (0.01) SELL SELL SELL - AMBANK 3.73 -0.05 3.81 3.73 3.66 3.87 4.07 38.38 3.91 3.94 4.08 13.06 31.05 28.50 (18.00) -0.06 -0.06 0.00 SELL BUY - - AXIATA 5.16 -0.14 5.35 5.08 5.22 5.37 5.51 41.25 5.40 5.38 5.43 12.35 23.93 21.32 (11.58) -0.01 -0.01 0.00 SELL BUY - - CIMB 7.20 0.03 7.21 7.11 6.96 7.17 7.39 48.05 7.25 7.19 7.18 16.02 30.32 26.18 (14.30) 0.02 0.02 0.00 SELL BUY - - DIGI 4.57 0.08 4.67 4.50 4.38 4.54 4.69 43.89 4.53 4.57 4.67 18.53 17.31 21.51 1.22 -0.04 -0.04 0.00 BUY BUY - - GAMUDA 5.12 0.04 5.14 5.05 4.95 5.10 5.26 49.19 5.11 5.09 5.06 17.09 19.93 11.90 (2.83) 0.01 0.01 (0.01) SELL SELL - - GENTING 8.66 -0.09 8.79 8.66 8.62 8.87 9.12 42.25 8.93 8.89 8.91 10.98 24.28 27.64 (13.30) -0.02 0.00 (0.02) SELL SELL - - GENM 4.93 0.05 5.00 4.90 4.68 4.99 5.29 41.84 5.10 5.04 5.11 20.39 24.84 20.92 (4.45) -0.01 -0.01 0.00 SELL BUY SELL - IHH 6.06 0.01 6.07 6.00 5.97 6.06 6.16 48.15 6.09 6.06 6.06 11.48 18.33 11.39 (6.85) 0.01 0.01 (0.00) SELL SELL SELL SELL IOICORP 4.77 0.02 4.80 4.77 4.69 4.76 4.83 50.57 4.78 4.74 4.71 9.74 17.54 20.33 (7.81) 0.02 0.02 (0.00) SELL SELL - - MALAKOFF 0.90 0.01 0.90 0.89 0.86 0.89 0.92 49.00 0.90 0.89 0.89 16.14 13.62 15.94 2.52 0.00 -0.01 0.01 BUY BUY - - MAXIS 5.80 -0.02 5.90 5.76 5.52 5.77 6.01 50.50 5.84 5.78 5.85 12.36 18.33 22.34 (5.96) 0.01 0.00 0.01 SELL BUY - - 10.68 0.10 10.70 10.60 10.39 10.56 10.72 53.97 10.61 10.51 10.45 18.34 20.20 18.85 (1.86) 0.06 0.06 (0.00) SELL SELL SELL SELL MBSB 1.10 0.00 1.13 1.10 1.06 1.13 1.19 43.00 1.14 1.13 1.16 18.98 20.61 19.11 (1.63) 0.00 0.00 (0.00) SELL SELL SELL SELL RHBBANK 5.31 0.04 5.33 5.28 5.11 5.29 5.46 46.95 5.35 5.29 5.31 17.67 22.32 18.31 (4.65) 0.01 0.01 0.00 SELL BUY - - SIME 2.55 -0.02 2.65 2.52 2.51 2.70 2.89 36.36 2.76 2.67 2.68 17.31 35.99 18.11 (18.68) 0.02 0.03 (0.01) SELL SELL - SELL 15.84 0.00 15.92 15.80 15.66 15.92 16.19 48.57 15.91 15.86 15.78 12.87 17.65 13.62 (4.78) 0.03 0.04 (0.01) SELL SELL SELL - 5.20 -0.03 5.31 5.14 4.97 5.35 5.73 41.74 5.44 5.39 5.58 17.89 27.72 17.00 (9.83) -0.05 -0.04 (0.00) SELL SELL - SELL MAYBANK TENAGA TM WPRTS 3.39 0.06 3.48 3.34 3.28 3.43 3.59 39.90 3.38 3.48 3.53 14.99 19.45 24.35 (4.46) -0.05 -0.04 (0.00) SELL SELL - SELL AIRASIA 3.74 0.05 3.75 3.66 3.68 3.94 4.19 31.63 3.84 4.01 4.11 9.73 32.00 33.91 (22.27) -0.10 -0.08 (0.02) SELL SELL - - AIRASIA X 0.38 0.01 0.38 0.38 0.35 0.38 0.41 44.29 0.39 0.39 0.39 20.11 23.61 15.36 (3.51) 0.00 0.00 0.00 SELL BUY - - ARMADA 0.83 0.02 0.83 0.82 0.77 0.85 0.92 40.99 0.87 0.84 0.85 19.86 29.10 18.22 (9.24) 0.00 0.01 (0.01) SELL SELL - - DIALOG 2.99 -0.01 3.01 2.98 2.94 3.08 3.21 49.24 3.10 2.99 2.87 17.68 23.82 27.06 (6.14) 0.06 0.08 (0.02) SELL SELL SELL - DNEX 0.37 0.01 0.38 0.37 0.35 0.39 0.43 38.35 0.39 0.40 0.42 15.63 30.15 19.11 (14.52) -0.01 -0.01 (0.00) SELL SELL - SELL ECO WORLD 1.13 0.00 1.14 1.12 0.97 1.07 1.16 58.48 1.11 1.06 1.14 22.00 17.89 31.71 4.11 0.00 -0.01 0.01 BUY BUY - - EKOVEST 0.81 0.01 0.82 0.81 0.76 0.87 0.99 33.16 0.85 0.91 0.94 14.35 30.12 20.52 (15.77) -0.04 -0.03 (0.00) SELL SELL - - FGV 1.71 0.01 1.76 1.71 1.60 1.76 1.91 40.93 1.79 1.76 1.82 17.64 18.93 25.05 (1.28) -0.02 -0.01 (0.01) SELL SELL - - GADANG 0.81 0.00 0.82 0.81 0.80 0.87 0.94 30.35 0.86 0.89 0.94 14.56 33.09 31.14 (18.54) -0.03 -0.03 (0.00) SELL SELL - - HIAP TECK 0.38 0.01 0.39 0.38 0.37 0.40 0.44 36.79 0.40 0.41 0.44 14.33 31.58 26.86 (17.25) -0.01 -0.01 (0.00) SELL SELL - - HIBISCUS 0.80 -0.01 0.83 0.79 0.72 0.84 0.96 42.72 0.88 0.84 0.88 20.52 31.53 14.29 (11.00) 0.00 0.00 (0.00) SELL SELL - SELL KUB 0.40 0.00 0.41 0.40 0.38 0.42 0.46 38.32 0.42 0.43 0.45 18.01 31.09 14.29 (13.08) -0.01 -0.01 (0.00) SELL SELL - - MALTON 0.79 0.01 0.79 0.77 0.76 0.81 0.87 37.36 0.81 0.83 0.87 15.17 28.73 11.49 (13.57) -0.02 -0.02 (0.00) SELL SELL - SELL MUDAJAYA 0.64 -0.01 0.66 0.64 0.62 0.68 0.75 35.94 0.69 0.70 0.76 21.80 47.83 27.28 (26.02) -0.03 -0.03 0.00 SELL BUY - - MRCB 1.00 0.00 1.01 0.99 0.91 1.00 1.10 46.75 1.03 1.00 1.03 18.26 24.87 14.24 (6.61) 0.00 0.00 0.00 SELL BUY - - SAPURA ENERGY 0.68 0.01 0.70 0.66 0.42 0.63 0.85 52.51 0.73 0.60 0.60 26.67 25.03 24.98 1.64 0.04 0.04 0.01 BUY BUY - - SUNCON 2.12 -0.04 2.17 2.12 1.93 2.12 2.31 50.52 2.18 2.11 2.19 19.40 22.92 20.67 (3.52) 0.00 -0.01 0.01 SELL BUY SELL - UEMS 0.91 0.02 0.91 0.89 0.88 0.95 1.02 30.77 0.92 0.96 1.01 8.79 31.89 40.26 (23.10) -0.03 -0.03 (0.00) SELL SELL - - UMWOG 0.28 0.01 0.28 0.27 0.24 0.29 0.34 39.78 0.29 0.29 0.30 19.97 28.09 14.90 (8.12) -0.01 -0.01 (0.00) SELL SELL - SELL WASEONG 1.40 -0.02 1.42 1.39 1.29 1.42 1.55 47.10 1.44 1.47 1.51 19.07 28.01 21.22 (8.94) -0.01 -0.02 0.01 SELL BUY - - WCT 1.22 0.05 1.23 1.18 1.11 1.20 1.30 39.35 1.19 1.25 1.35 21.90 21.85 32.08 0.05 -0.05 -0.06 0.01 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
  17. 27-Apr-18 Technical Comments : Bargain Bumi Armada & DNEX Low technical momentum readings on Bumi Armada point to limited downside risk and prime for oversold rebound, with key resistance from the 123.6%FP (90sen) and 138.2%FP (95sen) matching recent peaks, and important chart supports at the 200day ma (78sen) and 76.4%FR (75sen). DNEX looks attractive to bargain on dips for recovery to the 38.2%FR (40sen), with a confirmed breakout to target the 50%FR (46sen) and 61.8%FR (51sen) ahead, while key support is at the 23.6%FR (33sen). BUMI ARMADA RM0.825 (+0.015) Z BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 0.92 0.85 0.77 10-day 30-day 50-day RM RM RM DAILY MACD DMI Recent Signal SELL Signal Change Recent Signal SELL Signal Change DNEX RM0.37 (+0.005) BOLLINGER BANDS Upper Middle Lower RM RM RM SIMPLE MOVING AVERAGES 0.42 0.38 0.34 10-day 30-day 50-day DMI Recent Signal Signal Change 0.86 0.84 0.85 SELL Recent Signal Signal Change RM RM RM DAILY MACD 0.39 0.40 0.42 SELL SELL Page 2 of 4
  18. 27-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 19-Apr 20-Apr 23-Apr 24-Apr 25-Apr (A) Total 5D MF Prv. Chg FBMKLCI (3.1) (9.6) 5.2 (17.1) (2.8) (27.4) (22.2) 14.2 1,895 1,888 1,880 1,865 1,852 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) 0.1 (0.0) 0.5 (4.4) (5.9) (1.6) 1.2 4.4 2.7 0.2 (0.1) 0.4 (1.4) 0.3 (0.7) 0.7 (3.0) (1.4) (0.3) (0.3) 0.3 0.0 (4.2) (0.1) 0.0 (0.1) (0.6) (0.0) 0.0 (0.8) (0.0) 0.0 (0.0) (0.4) (5.1) 0.0 (0.4) 0.1 0.3 (0.2) (0.0) (0.6) 0.3 (1.0) (4.5) (2.1) (1.3) (0.0) 0.3 (1.2) (1.1) 0.1 0.0 (2.8) 0.1 0.1 (0.6) 4.1 (0.8) (0.2) (0.3) (0.5) (0.2) 2.3 (0.0) 0.0 (0.0) (0.3) 0.0 (0.0) 0.1 (0.0) 0.1 (0.0) (0.4) (2.4) (0.0) (0.1) (0.5) 0.2 (0.1) 0.1 0.1 (0.3) (0.5) 0.3 (1.4) (0.1) (0.5) (0.2) (1.1) 0.6 0.0 0.3 (0.9) 0.1 0.1 (0.6) 10.6 (0.1) (0.0) (1.5) 0.4 (0.2) (0.5) (0.1) 0.0 0.1 (0.3) (0.0) (0.0) (0.1) (0.0) (0.0) 0.0 (0.3) (0.9) (0.0) (0.0) (0.2) 0.0 (0.1) 0.2 0.1 (0.7) (0.0) (1.1) (0.8) 3.2 (5.2) 0.3 (1.3) (1.1) (0.1) (0.0) 4.3 (0.2) (1.3) 0.6 0.7 (0.5) 0.1 (0.4) 0.2 0.2 1.6 0.1 0.0 (0.2) (0.3) (0.1) (0.0) (1.0) (0.0) (0.0) 0.0 (0.2) (0.6) 0.3 (0.1) 0.1 0.0 (0.2) 0.0 (0.2) 0.1 (1.7) (1.5) (1.3) 0.1 0.2 0.1 0.1 0.5 (0.0) (0.1) 1.3 (0.1) (0.2) (1.2) 4.9 (0.3) (0.3) (1.6) 0.1 0.4 (1.8) (0.0) (0.0) (0.1) (0.2) (0.0) 0.0 (0.0) (0.0) (0.0) 0.0 (0.2) (1.0) (0.0) (0.1) 0.1 (0.0) (0.2) 0.2 (0.6) (0.6) (2.7) (11.2) (11.6) 0.4 (4.4) 4.8 (0.9) (0.8) (0.1) 0.6 0.5 0.2 (1.9) (1.2) 17.4 (3.2) (0.7) (4.1) 0.5 0.3 (2.7) (0.1) 0.1 (0.3) (1.7) (0.1) (0.1) (1.9) (0.0) 0.0 0.0 (1.5) (10.0) 0.2 (0.6) (0.4) 0.5 (0.8) 0.1 0.0 (0.4) 0.4 (1.4) 0.6 3.3 (4.7) 0.5 (0.2) (1.8) (0.1) (0.3) 5.2 (0.3) (1.3) 1.1 (9.9) (0.4) 0.1 1.1 (0.2) 0.4 2.1 0.1 (0.0) (0.3) 0.1 (0.1) (0.0) (0.9) (0.0) 0.0 (0.0) 0.2 0.3 0.3 (0.1) 0.2 0.0 (0.1) (0.2) (0.3) 0.8 (1.7) (0.4) (0.5) (3.1) 5.3 (0.2) 1.4 1.6 0.1 (0.1) (3.0) 0.1 1.1 (1.8) 4.2 0.3 (0.4) (1.1) (0.1) 0.2 (3.4) (0.1) (0.0) 0.2 0.0 0.0 0.0 0.9 0.0 0.0 0.0 (0.0) (0.4) (0.3) 0.0 0.1 (0.0) (0.1) 2.51 4.48 3.92 5.45 7.31 4.65 5.17 9.05 5.14 6.10 4.79 0.90 5.88 10.68 1.16 5.41 2.81 16.00 5.58 3.53 3.78 0.39 0.86 3.12 0.41 1.11 0.86 1.78 0.87 0.41 0.94 0.42 0.82 0.69 1.04 0.79 2.19 0.93 0.30 1.48 1.17 2.52 4.48 3.88 5.45 7.30 4.53 5.11 8.86 5.17 6.12 4.78 0.90 5.87 10.72 1.15 5.38 2.80 15.92 5.50 3.40 3.80 0.39 0.84 3.15 0.40 1.12 0.83 1.72 0.85 0.40 0.90 0.42 0.82 0.66 1.03 0.76 2.19 0.92 0.29 1.48 1.16 2.53 4.36 3.86 5.45 7.24 4.49 5.05 8.86 5.08 6.10 4.78 0.89 5.89 10.62 1.13 5.36 2.78 15.88 5.37 3.40 3.77 0.38 0.83 3.10 0.38 1.11 0.81 1.71 0.83 0.38 0.86 0.40 0.80 0.66 1.01 0.72 2.15 0.91 0.28 1.46 1.17 2.55 4.25 3.80 5.33 7.22 4.45 5.04 8.75 5.02 6.09 4.78 0.90 5.82 10.62 1.12 5.30 2.68 15.88 5.24 3.36 3.77 0.38 0.83 3.05 0.38 1.12 0.82 1.70 0.82 0.38 0.83 0.40 0.79 0.66 1.00 0.71 2.11 0.91 0.28 1.44 1.24 2.56 4.19 3.78 5.30 7.17 4.49 5.08 8.75 4.88 6.05 4.75 0.89 5.82 10.58 1.10 5.27 2.57 15.84 5.23 3.33 3.69 0.38 0.81 3.00 0.37 1.13 0.80 1.70 0.81 0.38 0.80 0.40 0.78 0.65 1.00 0.67 2.16 0.89 0.27 1.42 1.17 Name (B) Cur. Chg 19-Apr 20-Apr 23-Apr 24-Apr 25-Apr Chg (A+B) DMF (13.41) OUT 0.01 (0.06) (0.02) (0.03) (0.05) 0.04 0.04 0.00 (0.14) (0.04) (0.03) (0.01) 0.00 (0.04) (0.02) (0.03) (0.11) (0.04) (0.01) (0.03) (0.08) (0.01) (0.01) (0.05) (0.01) 0.01 (0.01) 0.00 (0.01) (0.01) (0.02) 0.01 (0.01) (0.01) 0.00 (0.04) 0.05 (0.02) (0.02) (0.02) (0.07) OUT OUT IN OUT OUT IN IN IN IN IN OUT OUT OUT IN OUT OUT OUT OUT OUT OUT OUT OUT IN OUT IN OUT OUT IN OUT IN IN OUT OUT IN IN OUT OUT OUT IN OUT OUT 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
  19. 27-Apr-18 Daily Money Flow of FBMKLCI Malaysia Chartist : Stephen Soo No Name 19-Apr Tel: +603-2167 9607 Total Money Flow (RM'mn) 20-Apr 23-Apr 24-Apr Total stsoo@ta.com.my 25-Apr 5D MF (A) Prv. Chg (B) Cur. Chg 19-Apr 20-Apr www.taonline.com.my CLOSING PRICE 23-Apr 24-Apr (A+B) 25-Apr Chg DMF FBMKLCI (3.1) (9.6) 5.2 (17.1) (2.8) (27.4) (22.2) 14.2 1,895 1,888 1,880 1,865 1,852 (13.41) OUT 1 MAYBANK (1.4) (2.8) (0.9) 4.3 1.3 0.5 5.2 (3.0) 10.68 10.72 10.62 10.62 10.58 (0.04) IN 2 PBBANK (1.0) 2.0 2.9 1.9 7.0 12.7 (1.0) 5.1 24.24 24.20 24.30 24.10 23.84 (0.26) IN 3 TENAGA (3.0) 4.1 10.6 0.7 4.9 17.4 (9.9) 4.2 16.00 15.92 15.88 15.88 15.84 (0.04) OUT 4 CIMB (4.4) (4.5) 0.3 (1.1) (1.5) (11.2) (1.4) (0.4) 7.31 7.30 7.24 7.22 7.17 (0.05) OUT 5 PCHEM (2.1) (2.5) (4.0) (3.7) (7.5) (19.7) 0.3 (3.9) 8.48 8.48 8.46 8.49 8.39 (0.10) OUT 6 IHH 2.7 (1.2) (1.1) (1.3) 0.1 (0.9) (0.2) 1.4 6.10 6.12 6.10 6.09 6.05 (0.04) IN 7 AXIATA 0.5 (1.0) (0.5) (0.0) (1.7) (2.7) 0.4 (1.7) 5.45 5.45 5.45 5.33 5.30 (0.03) OUT 8 MAXIS 0.4 0.0 0.3 (0.0) (0.1) 0.6 (0.3) (0.1) 5.88 5.87 5.89 5.82 5.82 0.00 OUT 9 HLBANK 0.5 0.3 0.0 0.2 (1.5) (0.5) 0.1 (1.7) 19.60 19.40 19.36 19.08 18.84 (0.24) OUT 10 SIME PLT 0.3 (0.6) (0.3) (0.0) 0.3 (0.5) 0.3 0.3 5.60 5.52 5.57 5.54 5.50 (0.04) IN 11 DIGI (5.9) (2.1) (1.4) (0.8) (1.3) (11.6) 0.6 (0.5) 4.65 4.53 4.49 4.45 4.49 0.04 IN 12 NESTLE 1.0 (1.6) (0.9) 2.7 (0.8) 0.3 3.6 (3.5) 148.30 148.00 148.00 147.50 139.10 (8.40) IN 13 PETGAS 0.2 2.3 0.4 0.0 (0.1) 2.7 (0.3) (0.2) 18.58 18.60 18.22 17.96 17.94 (0.02) OUT 14 GENTING 1.2 (0.0) (0.5) (5.2) 0.2 (4.4) (4.7) 5.3 9.05 8.86 8.86 8.75 8.75 0.00 IN 15 MISC 0.4 0.3 (0.4) (1.0) 0.0 (0.6) (0.7) 1.1 7.13 7.20 7.08 7.00 7.08 0.08 IN 16 IOI CORP 0.2 (1.1) 0.6 (1.1) 0.5 (0.8) (1.8) 1.6 4.79 4.78 4.78 4.78 4.75 (0.03) OUT 17 GENM 4.4 0.3 (0.2) 0.3 0.1 4.8 0.5 (0.2) 5.14 5.17 5.08 5.02 4.88 (0.14) IN 18 KLK 0.3 0.0 2.1 (12.6) (1.5) (11.7) (14.7) 11.1 25.54 25.50 25.52 25.50 25.48 (0.02) OUT 19 PETDAG 1.1 (0.8) 0.1 0.6 0.5 1.4 0.5 (0.1) 27.70 27.60 27.50 27.00 27.00 0.00 IN 20 HAP SENG 0.0 (0.1) 0.0 (0.0) 0.0 (0.0) (0.0) 0.0 9.75 9.73 9.73 9.70 9.71 0.01 OUT 21 HLFG 0.2 0.1 (0.1) 0.4 0.0 0.6 0.5 (0.4) 19.60 19.64 19.64 19.46 19.30 (0.16) IN 22 PPB 0.5 (0.2) (0.2) 0.5 0.0 0.6 0.6 (0.4) 19.10 19.02 19.10 19.10 19.18 0.08 IN 23 TM (1.4) (0.8) (0.1) (0.5) (0.3) (3.2) (0.4) 0.3 5.58 5.50 5.37 5.24 5.23 (0.01) OUT 24 RHBBANK (0.7) 0.1 0.1 (1.3) (0.2) (1.9) (1.3) 1.1 5.41 5.38 5.36 5.30 5.27 (0.03) OUT 25 PMETAL 2.4 0.8 (0.8) 0.7 0.3 3.3 1.5 (0.4) 5.23 5.11 5.10 4.79 4.74 (0.05) IN 26 SIME 0.7 (0.6) (0.6) 0.6 (1.2) (1.2) 1.1 (1.8) 2.81 2.80 2.78 2.68 2.57 (0.11) OUT 27 YTLCORP (0.6) 0.1 (0.3) (0.2) (0.1) (1.1) 0.1 0.1 1.48 1.47 1.45 1.42 1.39 (0.03) IN 28 KLCCS 0.3 (0.0) 0.2 0.0 (0.0) 0.5 (0.1) (0.1) 7.45 7.35 7.20 7.20 7.02 (0.18) OUT 29 AMBANK (0.0) 0.3 (0.3) (0.7) 0.1 (0.6) (0.4) 0.8 3.92 3.88 3.86 3.80 3.78 (0.02) IN 30 ASTRO 0.3 (0.3) 0.1 (0.1) (0.2) (0.2) (0.2) (0.0) 2.00 1.94 1.91 1.84 1.79 (0.05) OUT 17.4 (20.4) (3.0) 10.7 (20.3) (9.6) 17.6 (12.5) 5.1 12.7 (29.8) (17.1) 15.2 (18.0) (2.8) 73.6 (101.0) (27.4) 20 (10) 13 (17) 13 (17) 13 (17) 15 (15) (RM'mn) INFLOW OUTFLOW NET FLOW Daily Trading Participation COMPANIES INFLOW OUTFLOW Date Retail Institution Foreign Total 19-Apr 20-Apr 23-Apr 24-Apr 25-Apr 19.6% 21.0% 20.9% 18.4% 18.7% 53.8% 55.1% 55.2% 56.8% 57.9% 26.6% 23.9% 23.9% 24.8% 23.4% 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 27, 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
  20. Technical View Friday , April 27, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Stock Screen Malaysia End Day Census of 26.04.2018 Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Daily Stock Screen is a retail product which can be a very useful guide for momentum trading and trading ideas. The following list is derived from the screening of more than 1000 stocks currently listed on Bursa Malaysia to identify: the top 20 breakout, 20 breakdown, and 30 ‘potential’ breakout stocks which just climbed above the middle Bollinger band, with potential to appreciate toward the upper Bollinger band. [MIDDLE BOLLINGER RANGEBOUND] List of 30 Potential Breakout Stocks (Short-term BUY for upside toward Upper Bollinger Band or higher to TAKE PROFIT/ SELL) No Stock Name Price RSI Bollinger Band Moving Average Lower Middle Upper 14-day 5-day 10-day 30-day 50-day Vol 20-day avg vol 1 BRITISH AMERICAN TOBACCO BHD 24.70 22.20 24.28 26.35 45.96 24.66 23.90 25.49 26.75 438,900 461,140 2 PETRONAS DAGANGAN BHD 26.96 23.74 25.93 28.12 68.49 27.36 26.74 25.47 25.30 890,600 664,125 3 AEON CREDIT SERVICE M BHD 12.82 11.91 12.73 13.56 47.70 13.13 13.08 12.75 13.05 891,200 106,985 4 HONG LEONG FINANCIAL GROUP 19.36 18.50 19.18 19.86 54.18 19.53 19.39 19.14 19.03 109,800 134,395 5 ALLIANZ MALAYSIA BHD 11.72 10.46 11.27 12.07 52.18 11.60 11.18 11.67 12.19 118,400 125,920 6 DUTCH LADY MILK INDS BHD 67.98 65.90 67.11 68.31 58.30 67.01 66.97 66.93 66.94 147,200 14,640 7 LOTTE CHEMICAL TITAN HOLDING 6.33 5.75 6.15 6.56 57.78 6.24 6.24 6.14 5.93 4,375,300 2,129,160 367,245 8 KLCCP STAPLED GROUP 7.21 6.92 7.17 7.42 48.41 7.24 7.25 7.17 7.43 640,400 9 PPB GROUP BERHAD 19.20 18.30 18.84 19.38 68.03 19.10 18.84 18.83 18.46 957,400 854,200 10 SUPERMAX CORP BHD 2.84 2.29 2.65 3.00 57.94 2.84 2.76 2.65 2.63 3,636,600 4,326,085 11 SP SETIA BHD 3.06 2.74 2.98 3.21 51.09 3.07 3.06 3.03 3.11 1,924,400 1,367,525 12 AEON CO (M) BHD 2.03 1.69 1.93 2.16 66.84 2.02 2.02 1.87 1.78 3,979,100 2,146,970 13 GHL SYSTEMS BERHAD 1.28 1.05 1.23 1.41 52.66 1.28 1.28 1.22 1.29 390,400 477,340 14 CCM DUOPHARMA BIOTECH BHD 2.88 2.64 2.82 3.00 53.58 2.86 2.87 2.83 2.85 297,500 340,590 15 DIGI.COM BHD 4.57 4.38 4.53 4.68 49.78 4.52 4.53 4.57 4.67 11,594,900 6,836,535 16 CARING PHARMACY GROUP BHD 1.58 1.43 1.55 1.67 48.86 1.60 1.55 1.58 1.68 15,000 6,100 17 MERCURY INDUSTRIES BHD 1.46 1.14 1.35 1.55 51.48 1.40 1.32 1.46 1.64 8,200 7,085 18 TRANSOCEAN HOLDINGS BHD 0.62 0.45 0.58 0.70 52.08 0.53 0.56 0.61 0.60 12,200 2,615 19 SYARIKAT TAKAFUL MALAYSIA 3.40 3.24 3.36 3.48 53.38 3.32 3.37 3.34 3.37 219,900 82,365 20 QL RESOURCES BHD 5.14 4.99 5.10 5.21 57.92 5.13 5.13 5.05 4.99 914,900 1,111,825 21 SHANGRI-LA HOTELS (MAL) BHD 5.88 5.35 5.65 5.95 69.04 5.81 5.75 5.41 5.25 322,100 241,175 22 IMASPRO CORP BHD 2.10 1.72 1.94 2.17 86.59 2.09 2.04 1.90 1.87 119,300 62,235 23 MALAYAN BANKING BHD 10.68 10.39 10.56 10.74 60.30 10.64 10.61 10.51 10.45 16,233,100 14,639,590 24 ASDION BHD 0.41 0.11 0.29 0.46 79.91 0.40 0.36 0.26 0.24 7,848,700 9,507,420 25 ICAPITAL.BIZ BERHAD 2.65 2.41 2.56 2.70 54.53 2.64 2.56 2.58 2.64 49,500 33,495 26 ATLAN HOLDINGS BERHAD 4.58 4.43 4.52 4.62 59.57 4.54 4.53 4.48 4.43 1,300 700 27 SUNWAY REAL ESTATE INVESTMEN 1.62 1.50 1.58 1.66 53.48 1.60 1.60 1.59 1.63 3,390,000 1,057,595 28 DEGEM BHD 1.03 0.94 1.00 1.05 55.97 1.01 1.01 1.00 0.99 6,200 5,015 29 IRE-TEX CORP BHD 0.23 0.11 0.18 0.25 63.25 0.23 0.20 0.18 0.17 6,334,800 7,386,020 30 BINTULU PORT HOLDINGS BHD 5.95 5.78 5.88 5.97 54.86 5.91 5.89 5.89 5.94 5,000 2,005 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
  21. *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 Lower Middle RSI Upper 14-day Moving Average 5-day 10-day 30-day 50-day Vol 20-day avg vol 1 JCBNEXT BHD 1.78 1.57 1.66 1.74 68.83 1.68 1.65 1.66 1.70 15,000 2 MSM MALAYSIA HOLDINGS BHD 3.68 3.39 3.52 3.64 55.85 3.53 3.49 3.63 3.79 2,400 9,575 6,965 3 ENCORP BHD 0.72 0.42 0.56 0.70 73.25 0.65 0.58 0.56 0.60 220,500 47,495 4 YEE LEE CORPORATION 2.26 2.02 2.14 2.25 71.57 2.20 2.16 2.14 2.15 78,600 50,810 5 WANG-ZHENG BHD 1.53 1.37 1.45 1.52 55.60 1.44 1.44 1.48 1.54 66,100 47,140 6 TIONG NAM LOGISTICS HOLDINGS 1.10 1.00 1.04 1.09 59.30 1.06 1.05 1.04 1.08 16,000 82,675 7 BERJAYA ASSETS BHD 0.47 0.39 0.42 0.46 71.57 0.44 0.43 0.42 0.43 1,394,400 1,967,640 8 WIDETECH (MALAYSIA) BHD 0.63 0.52 0.57 0.62 61.50 0.58 0.57 0.55 0.51 19,200 960 9 PAOS HOLDINGS BHD 0.44 0.38 0.40 0.43 54.77 0.41 0.41 0.41 0.43 5,000 3,045 10 CYL CORP BHD 0.65 0.53 0.58 0.64 60.72 0.61 0.59 0.59 0.61 33,000 6,040 11 KIP REIT 0.80 0.71 0.75 0.79 64.23 0.75 0.74 0.77 0.79 287,000 348,815 12 ENG KAH CORP BHD 1.39 0.98 1.18 1.39 66.43 1.24 1.15 1.23 1.29 200 1,475 13 MQ TECHNOLOGY BHD 0.07 0.04 0.05 0.06 70.20 0.06 0.05 0.05 0.05 740,200 2,183,485 14 PERUSAHAAN SADUR TIMAH MALAY 3.75 3.45 3.60 3.75 60.29 3.65 3.63 3.59 3.61 9,200 8,225 15 MINETECH RESOURCES BHD 0.12 0.09 0.10 0.11 60.98 0.11 0.10 0.10 0.11 493,100 715,100 16 GREEN OCEAN CORP BHD 0.15 0.13 0.14 0.15 58.33 0.14 0.14 0.14 0.15 200,100 198,460 17 HLT GLOBAL BHD 0.26 0.22 0.24 0.25 58.74 0.24 0.24 0.24 0.24 419,400 239,905 538,770 18 GPA HOLDINGS BHD 0.09 0.09 0.09 0.09 44.07 0.09 0.09 0.09 0.09 100,000 19 SIN HENG CHAN (MALAYA) BHD 0.61 0.46 0.53 0.61 57.93 0.54 0.54 0.54 0.55 52,900 3,895 20 AMFIRST REAL ESTATE INVESTM 0.61 0.60 0.60 0.61 46.47 0.60 0.60 0.61 0.62 611,000 280,590 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 Moving Average 14-day 5-day 10-day 30-day 50-day Vol 20-day avg vol 1 NESTLE (MALAYSIA) BERHAD 136.50 140.37 148.35 156.32 33.85 146.18 147.44 145.76 139.50 212,900 2 UNITED PLANTATIONS BHD 26.44 26.79 27.28 27.77 32.51 28.52 28.42 28.29 28.33 44,000 179,735 92,705 3 KOSSAN RUBBER INDUSTRIES 6.45 6.60 7.35 8.10 18.92 6.94 7.26 7.53 7.87 384,600 487,450 4 UNISEM (M) BERHAD 1.82 1.92 2.36 2.81 25.44 2.20 2.36 2.44 2.55 12,175,200 3,071,840 5 LPI CAPITAL BERHAD 16.14 16.21 16.39 16.56 40.82 16.38 16.39 16.34 16.23 47,100 74,361 6 APEX EQUITY HOLDINGS BERHAD 0.90 0.96 1.03 1.10 25.11 1.03 1.04 1.07 1.24 18,000 142,780 7 MALPAC HOLDINGS BERHAD 0.99 1.02 1.12 1.22 15.24 1.08 1.09 1.15 1.20 600 380 8 MALAYSIAN PACIFIC INDUSTRIES 7.76 7.79 8.33 8.87 31.08 8.13 8.34 8.59 8.79 99,000 167,140 2,242,195 9 AXIATA GROUP BERHAD 5.16 5.19 5.35 5.52 32.56 5.40 5.40 5.38 5.43 5,880,800 10 EKSONS CORP BHD 0.70 0.72 0.78 0.84 31.72 0.76 0.77 0.80 0.81 10,000 6,140 11 YKGI HOLDINGS BHD 0.22 0.24 0.36 0.49 29.65 0.32 0.37 0.37 0.34 5,127,200 5,936,845 12 GENETEC TECHNOLOGY BHD 1.21 1.23 1.31 1.39 31.31 1.29 1.30 1.33 1.34 11,000 20,700 13 TAFI INDUSTRIES BHD 0.30 0.32 0.38 0.45 21.41 0.34 0.36 0.39 0.41 10,000 1,000 14 KIM LOONG RESOURCES BHD 1.29 1.31 1.38 1.44 27.47 1.35 1.37 1.39 1.39 165,400 130,405 15 APB RESOURCES BHD 16 PUBLIC BANK BERHAD 17 18 0.82 0.84 0.88 0.92 32.08 0.88 0.88 0.90 0.93 23.72 23.74 24.00 24.26 45.98 24.14 24.07 23.88 23.41 1,000 9,300 7,650,700 4,744,165 IBRACO BHD 0.51 0.52 0.66 0.79 38.51 0.63 0.63 0.69 SEREMBAN ENGINEERING BHD 0.35 0.36 0.43 0.50 32.57 0.40 0.42 0.45 0.71 24,600 7,215 0.51 20,000 19 SELANGOR DREDGING BHD 0.76 0.77 0.80 0.84 29.10 0.80 0.80 5,375 0.81 0.83 10,000 66,030 20 SCC HOLDINGS BHD 0.47 0.48 0.51 0.54 33.42 0.50 0.51 0.51 0.53 115,200 51,925 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 27, 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
  22. Friday , 27 April, 2018 TA RESEARCH’S ‘DAILY COMPILED REPORTS’ For Internal Circulation Only As i an Te ch n ic al R ep o r ts 1. Fore i gn Te ch n i ca l St o c k W at ch ( A US ) Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy and/ or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. Kaladher Govindan – Head of Research TA SECURITIES HOLDINGS BERHAD (14948-M) A Participating Organisation of Bursa Malaysia Securities Berhad Menara TA One 22 Jalan P. Ramlee 50250 Kuala Lumpur Malaysia Tel: 603 – 2072 1277 Fax: 603 – 2032 5048 www.ta.com.my
  23. Technical View Friday , April 27, 2018 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Daily Technical Stock Watch Australia ASX: 5,910.80 (-10.75, -0.18%) Chartist: Stephen Soo Name ASX 200 BHP BILLITON RIO TINTO COMMONW BK AUSTR WESTPAC BANKING AUST AND NZ BANK NATL AUST BANK WESFARMERS WOODSIDE PETRO NEWCREST MINING WESTFIE LD GROUP FORTESCUE METALS QBE INSURANCE ORIGIN ENERGY AMP SANTOS MACQUARIE GROUP SUNCORP GROUP ORICA OIL SEARCH COCA-COLA AMATIL AMCOR STOCKLAND ALUMINA COMPUTERSHARE QANTAS AIR WAYS SIMS METAL MGMT Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Close Bollinger Bands RSI Moving Averages DMI MACD DMI MACD Change High Low 26-Apr Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff Recent Signal 5910.80 -10.75 5938.80 5903.10 5735.48 5825.15 5914.82 59.21 5857.49 5862.78 5893.48 30.63 17.56 14.54 13.07 -1.73 -17.49 15.758 BUY BUY 31.00 79.37 72.19 28.08 26.55 28.47 43.11 32.21 20.71 8.94 4.49 10.02 9.52 4.06 6.20 105.50 13.80 19.41 7.89 9.24 13.84 3.99 2.65 17.11 5.85 16.05 -0.27 -0.15 -1.27 -1.10 -0.60 -0.61 0.25 0.42 -0.07 0.06 -0.08 -0.10 0.26 -0.01 0.07 -0.38 0.04 0.34 0.08 0.21 -0.17 0.04 0.03 0.25 -0.06 -0.01 31.30 80.24 73.78 28.90 27.25 29.05 43.14 32.33 20.95 8.98 4.52 10.18 9.55 4.12 6.20 106.17 13.92 19.52 7.91 9.27 14.01 4.00 2.69 17.18 5.93 16.38 30.95 79.18 72.11 27.80 26.40 28.38 42.19 31.90 20.60 8.91 4.41 9.93 9.27 4.04 6.16 105.15 13.76 19.12 7.77 9.04 13.79 3.94 2.61 16.87 5.84 15.96 27.57 70.50 71.53 28.37 26.36 28.20 40.76 28.75 19.38 8.40 4.19 9.39 8.50 4.12 5.11 100.51 13.25 17.46 6.98 8.65 13.85 3.89 2.23 16.75 5.78 13.63 29.48 76.35 72.86 28.87 26.89 28.65 41.58 30.24 20.00 8.68 4.47 9.71 9.02 4.72 5.78 103.41 13.52 18.44 7.47 8.86 14.05 3.98 2.55 17.25 5.95 14.88 31.39 82.20 74.19 29.36 27.41 29.11 42.40 31.73 20.61 8.96 4.75 10.02 9.54 5.31 6.45 106.30 13.78 19.42 7.95 9.07 14.25 4.07 2.87 17.74 6.12 16.13 69.98 58.20 49.33 50.75 49.21 54.15 64.32 73.38 59.28 61.20 49.12 64.74 56.84 10.99 78.43 61.28 60.50 63.33 66.03 61.94 47.10 43.38 54.66 40.73 49.96 62.15 30.31 78.96 72.83 28.87 26.80 28.62 41.48 30.86 20.22 8.76 4.56 9.82 9.23 4.49 5.98 104.56 13.63 18.88 7.68 8.90 14.05 3.95 2.68 17.22 5.96 15.37 29.31 29.65 38.23 19.01 19.70 19.22 76.04 77.22 32.90 22.79 23.87 10.12 73.76 74.41 21.94 24.97 22.90 (3.03) 29.15 29.64 24.08 21.90 16.28 2.18 27.32 27.71 20.92 21.85 24.31 (0.93) 28.99 29.26 25.42 19.33 14.61 6.09 41.79 41.51 32.91 15.71 13.24 17.20 29.79 29.65 31.51 8.63 30.28 22.88 19.95 20.75 33.26 20.67 18.53 12.59 8.65 8.66 34.72 19.81 22.09 14.91 4.56 4.76 22.72 26.94 22.36 (4.22) 9.76 9.97 26.48 16.02 21.17 10.46 8.99 8.95 26.66 23.67 15.24 2.99 4.90 5.06 3.01 55.41 58.80 (52.39) 5.52 5.31 42.38 8.95 45.04 33.43 104.16 103.68 24.33 16.81 12.08 7.52 13.58 13.53 22.33 13.72 16.23 8.61 18.45 18.46 26.93 13.56 24.69 13.37 7.35 7.37 29.03 13.15 24.76 15.88 8.84 8.79 28.47 13.51 20.67 14.96 14.10 14.11 22.91 24.24 9.76 (1.33) 4.02 4.02 18.26 25.78 15.46 (7.53) 2.49 2.41 33.97 25.94 32.94 8.03 17.42 17.49 20.76 32.62 14.73 (11.86) 5.96 5.79 19.40 21.32 17.21 (1.92) 15.13 15.77 29.12 20.02 22.65 9.09 0.47 1.25 -0.57 -0.22 -0.26 -0.17 0.03 0.49 -0.04 0.05 -0.02 0.01 0.12 -0.25 0.23 0.46 0.04 0.19 0.14 0.05 -0.04 -0.04 0.10 -0.12 0.03 0.07 0.20 0.59 -0.67 -0.27 -0.33 -0.22 -0.08 0.30 -0.19 0.02 -0.07 -0.06 0.08 -0.18 0.23 0.15 0.01 0.11 0.09 0.05 -0.04 -0.03 0.08 -0.06 0.05 -0.15 0.271 0.662 0.102 0.056 0.073 0.052 0.115 0.191 0.151 0.022 0.044 0.070 0.040 (0.067) 0.003 0.307 0.028 0.088 0.047 0.006 (0.004) (0.004) 0.018 (0.055) (0.021) 0.227 BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL BUY SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL BUY SELL SELL BUY The table below consists of the top 30 ASX 200 Index component stocks, weighted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last two columns are auto generated. Page 1 of 3
  24. 27-Apr-18 Corporate News : Santos’s recovery of revenue, margin and operating cash flow may slow in 2018 and LNG prices are likely to fall. The company expect fiscal 2018 capex to rise to AUD825-875 million from AUD682 million a year earlier. – Bloomberg. Technical Comments: Santos Ltd shares should meet profit-taking resistance on any further strength towards the 123.6%FP (AUD6.98), while key chart supports are at 76.4%FR (AUD5.41), followed by stronger support at the 61.8%FR (AUD4.92) before buyers returns for cheaper entry levels. SANTOS LTD AUD6.20 (+0.07) BOLLINGER BANDS Upper Middle Lower AUD AUD AUD SIMPLE MOVING AVERAGES 6.44 5.78 5.11 10-day 30-day 50-day DMI Recent Signal AUD AUD AUD 5.98 5.51 5.31 DAILY MACD BUY Recent Signal BUY Page 2 of 3
  25. 27-Apr-18 INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Ticker Stock Name BHP AU BHP BILLITON LTD RIO AU RIO TINTO LTD CBA AU COMMONW BK AUS TR WBC AU WE S TP AC BANKING ANZ AU AUS T AND NZ BANK NAB AU NATL AUS T BANK WE S AU WE S FARME RS LTD WP L AU WOODS IDE P E TRO NCM AU NE WCRE S T MINING WFD AU WE S TFIE LD GROUP FMG AU FORTE S CUE ME TALS QBE AU QBE INS URANCE ORG AU ORIGIN E NE RGY AMP AU AMP LTD S TO AU S ANTOS LTD MQG AU MACQUARIE GROUP S UN AU S UNCORP GROUP LT ORI AU ORICA LTD OS H AU OIL S E ARCH LTD CCL AU COCA-COLA AMATIL AMC AU AMCOR LTD S GP AU S TOCKLAND AWC AU ALUMINA LTD CP U AU COMP UTE RS HARE LT QAN AU QANTAS AIRWAYS S GM AU S IMS ME TAL MGMT Close Target Price % upside 31.00 79.37 72.19 28.08 26.55 28.47 43.11 32.21 20.71 8.94 4.49 10.02 9.52 4.06 6.20 105.50 13.80 19.41 7.89 9.24 13.84 3.99 2.65 17.11 5.85 16.05 31.00 81.36 80.19 33.36 30.18 32.59 42.18 33.27 22.35 9.66 5.03 11.03 9.77 5.25 5.79 105.58 13.97 17.93 7.97 8.53 15.46 4.51 2.72 16.51 6.58 16.66 0% 2% 10% 16% 12% 13% -2% 3% 7% 7% 11% 9% 3% 23% -7% 0% 1% -8% 1% -8% 10% 11% 2% -4% 11% 4% EPS ($) PER(x) Div Yield(%) 52week Price 2017 2018 2017 2018 2017 2018 High Low % Chg YTD 1.65 4.85 5.60 2.45 2.33 2.26 2.42 1.57 0.38 0.35 0.38 0.55 0.60 0.35 0.25 7.18 0.79 0.93 0.25 0.53 0.65 0.33 0.20 0.64 0.61 0.99 1.46 4.31 5.86 2.48 2.43 2.48 2.47 1.60 0.88 0.38 0.35 0.66 0.76 0.37 0.27 7.58 0.97 1.13 0.30 0.55 0.71 0.35 0.14 0.72 0.64 1.09 14.2 12.4 12.9 11.5 11.4 12.6 17.8 15.5 40.8 19.5 9.0 13.9 15.8 11.7 18.9 14.7 17.5 20.8 24.4 17.3 16.3 12.1 10.2 20.3 9.5 16.3 16.1 13.9 12.3 11.3 10.9 11.5 17.5 15.2 17.9 18.1 9.6 11.5 12.5 11.0 17.2 13.9 14.2 17.2 19.9 16.7 14.7 11.4 14.2 18.0 9.2 14.7 3.752 3.903 6.009 6.806 6.060 6.955 5.038 3.949 0.778 2.953 4.566 3.605 0.368 7.226 0.403 4.795 5.254 2.550 1.458 4.838 3.425 6.692 6.189 1.888 2.410 3.271 3.139 3.301 6.193 6.966 6.218 6.888 5.115 3.927 1.183 3.087 4.833 4.254 2.123 7.497 1.177 5.110 5.507 3.029 1.774 4.935 3.808 6.942 5.245 2.034 2.479 3.502 32.16 82.73 87.74 35.30 32.95 34.09 45.02 34.59 24.27 9.77 6.07 13.62 9.78 5.49 6.20 107.68 15.24 21.39 8.13 9.79 16.78 4.98 2.96 18.36 6.53 18.05 22.06 56.72 71.45 27.80 26.21 28.01 39.52 27.85 19.26 7.28 4.18 9.41 6.71 4.03 2.87 82.28 12.43 16.91 6.15 7.52 13.71 3.90 1.67 13.46 3.96 11.37 4.84 4.70 -10.14 -10.43 -7.62 -3.72 -2.95 -1.54 -9.27 -5.80 -7.99 -6.23 1.01 -21.87 13.76 5.89 -0.43 7.24 1.28 8.58 -10.25 -10.94 9.05 4.97 16.07 1.78 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 27, 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