Bursa Malaysia Daily Market Report - 30 March

Transcription

1. Thursday , 30 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. Daily Market Commentary 2. Daily Brief Fundamental Reports 1. Signature International Berhad: Job Replenishment Faster than Execution Technical Reports 1. Daily Technical Stock Picks 2. Daily Stock Screen 3. Foreign Technical Stock Watch (AUS, HK & FSSTI) 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
2. Daily Note Daily Market Commentary (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 Thursday, 30 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (29.03.2017) Volume (mil) +/-chg (RMmn) Main Market 2,502.3 255.9 2,475.1 Warrants 217.5 29.0 30.2 ACE Market 668.7 45.6 124.5 Bond 10.4 1.0 1.3 ETF 0.0 0.00 0.0 Total 3,398.9 2,631.2 Off Market 99.3 37.8 242.3 Value +/-chg 197.3 0.0 15.8 0.2 -0.01 174.7 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP March 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 Up Down 392 281 62 65 57 54 6 2 5 0 522 402 % chg % YTD chg 1,750.41 12,414.00 16,931.37 1,759.00 -4.01 -8.47 50.74 -5.50 -0.23 -0.07 0.30 -0.31 6.62 8.26 15.06 7.55 20,659.32 5,897.55 7,373.72 19,217.48 2,166.98 24,392.05 3,184.57 1,574.97 5,592.51 3,241.31 2,019.39 5,873.52 -42.18 22.41 30.30 14.61 3.67 46.18 26.75 -1.75 51.31 -11.63 -14.83 52.28 -0.20 0.38 0.41 0.08 0.17 0.19 0.85 -0.11 0.93 -0.36 -0.73 0.90 4.54 9.56 3.23 0.54 6.93 10.87 10.55 2.08 5.58 4.44 2.55 3.67 Top 10 KLCI Movers Based on Mkt Cap. Off Market (mn) GBGAQRS 35.0 SIME 12.0 APFT 10.0 MAXIS 9.0 LAYHONG-WA 5.9 MITRA 5.6 OCR 5.0 SEG 5.0 UOADEV 2.5 IRETEX 2.4 AMTEL 2.3 AAX 1.0 Value/ Volume 0.99 0.14 0.19 0.13 1.05 0.77 2.44 @ @ @ @ @ @ @ @ @ @ @ @ (RM) 1.17 9.36 0.03 6.44 0.61 1.32 0.60 1.05 2.60 0.21 0.60 0.30 Exchange Rate USD/MYR 4.4179 0.0037 USD/JPY 111.02 0.4500 EUR/USD 1.079 -0.0067 Counter Mkt Cap. (RM’mn) MAYBANK 91,440 DIGI 40,119 PETGAS 39,179 GENTING 36,008 MISC 32,764 GENM 32,310 IOICORP 29,239 PETDAG 23,744 HAPSENG 22,457 RHBBANK 21,053 Chg Vol. (RM) (mn) -0.03 9.95 -0.01 6.01 -0.16 1.63 -0.08 2.64 -0.06 1.78 -0.05 15.21 -0.06 7.84 -0.94 0.72 -0.03 0.26 -0.05 1.41 Commodities Futures Palm Oil (RM/mt) 2,723.00 17.00 Crude Oil ($/Barrel) 49.60 1.16 Gold ($/tr.oz.) 1,253.20 1.80 Important Dates JK GLAND - 2:1 Rights Issue - RI of up to 1,516.6m shares. JKGLAND 2 rights shares for every 1 existing share held, at an issue price of RM0.10 per rights share. Trading of Rights: 27/03 - 31/03/2017. Application Closed: 10/04/2017. LISTING ON: 21/04/2017. Review & Outlook The FBM KLCI edged lower Wednesday, as selected blue chips weighed on the market, ignoring the firmer regional tone as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth. The KLCI fell 4.01 points to close at 1,750.41, off the high of 1,759.76 and low of 1,747.16, as gainers led losers 522 to 402 on turnover totaling 3.4bn shares worth RM2.63bn. Blue chips are likely to remain range bound today, given the cautious external tone due to lingering near-term uncertainties in the Eurozone on the Brexit formalization. Important uptrend support for the index stays at the rising 10-day moving average at 1,747, coinciding with yesterday's low, with 1,723 and 1,707, the respective 30 and 50-day mas, acting as stronger supports. Immediate overhead resistance remain at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week's high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Any further upside on CIMB towards the 138.2%FP (RM5.68), with stronger resistance seen at the upper Bollinger band (RM5.77), should encourage profit-taking and selling as overbought condition will be exaggerated, while key supports are at the 30-day ma (RM5.34) and lower Bollinger band (RM5.21). Likewise, further rise on RHB Bank should meet stronger profit-taking resistance towards the 123.6%FP (RM5.49) or 138.2%FP (RM5.69), while support at the 30-day ma (RM5.14) is reinforced by the 50-day ma (RM5.08). • • • • • • • • • • • • • • News Bites The Federation of Malaysian Manufacturers is asking the Government to defer and review the implementation of the Employment Insurance Scheme as it would be an added tax burden to employers and employees. Mah Sing Group Bhd is on track to hit at least RM1.8bn in sales this year, as the company had initially forecast says its group managing director Tan Sri Leong Hoy Kum. The offerers that intend to takeover Halex Holdings Bhd through a mandatory takeover offer disclosed that they intend to maintain the listing status of Halex on the Main Market of Bursa Malaysia. Eastern & Oriental Bhd's believed to have found a strategic investor who will pump in fresh capital to kick start its second land reclamation project Phase 2A of the Seri Tanjung Pinang development. Padiberas Nasional Berhad is offering RM4 per share to minority shareholders who did not take up the takeover in 2014. Bintai Kinden Corp Bhd has secured a S$14.2mn contract for subcontract works to the existing Raffles Hotel and Shopping Arcade in Singapore. Malaysia will send its first Malaysian Sustainable Palm Oil-certified palm oil consignment to Europe by year-end, said Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong. Iskandar Malaysia still needs about 500,000 new homes to cater for an estimated three million-strong population by 2025 says Iskandar Regional Development Authority chief executive officer Datuk Ismail Ibrahim. Asian Business Software Solutions Sdn Bhd, a subsidiary of Censof Holdings Bhd, aims to get 125,000 micro and small businesses to use its new accounting software, Financio, by March 2018. Bison Consolidated Bhd, plans to increase the myNEWS.com outlets to about 400 by end-2017. Kuantan Flour Mills is proposing a private placement and a five-fortwo rights issue to raise money for debt repayment and working capital. The new weekly fuel price system kicked off with the ceiling price for RON95 lowered by 17 sen or 7.39% to RM2.13 per litre from RM2.30 effective midnight tonight. The National Association of Realtors pending home sales index, which tracks contract signings for purchases of previously owned homes in the US, climbed 5.5% in February, higher than expected 2.1% gain. United Kingdom triggered the Article 50 of the Treaty of Lisbon yesterday to begin the exit process from the European Union. 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. for TA SECURITIES HOLDINGS BERHAD Kaladher Govindan, Head of Research
3. TA Securities Thursday , March 30, 2017 FBMKLCI: 1,750.41 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Brief Market View, News In Brief: Corporate, Economy, and Share Buybacks THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage Market View Tel: +603-2072 1277 taresearch@ta.com.my www.taonline.com.my Range Bound on Brexit Worries The FBM KLCI edged lower Wednesday, as selected blue chips weighed on the market, ignoring the firmer regional tone as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth. The KLCI fell 4.01 points to close at 1,750.41, off the high of 1,759.76 and low of 1,747.16, as gainers led losers 522 to 402 on turnover totaling 3.4bn shares worth RM2.63bn. Support at 1,747, Then 1,723 Blue chips are likely to remain range bound today, given the cautious external tone due to lingering near-term uncertainties in the Eurozone on the Brexit formalization. Important uptrend support for the index stays at the rising 10-day moving average at 1,747, coinciding with yesterday’s low, with 1,723 and 1,707, the respective 30 and 50-day mas, acting as stronger supports. Immediate overhead resistance remain at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week’s high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Sell On Strength CIMB & RHB Bank Any further upside on CIMB towards the 138.2%FP (RM5.68), with stronger resistance seen at the upper Bollinger band (RM5.77), should encourage profit-taking and selling as overbought condition will be exaggerated, while key supports are at the 30-day ma (RM5.34) and lower Bollinger band (RM5.21). Likewise, further rise on RHB Bank should meet stronger profit-taking resistance towards the 123.6%FP (RM5.49) or 138.2%FP (RM5.69), while support at the 30-day ma (RM5.14) is reinforced by the 50-day ma (RM5.08). Most Asian Markets Edge Higher on Upbeat U.S. Consumer Data Asian markets were mostly higher on Wednesday, after U.S. equities rose higher on the back of a strong consumer confidence survey with markets awaiting the formal move by the U.K. to start a historic split with the European Union. The U.S. Consumer Board Consumer Confidence Index hit 125.6, up from 116.1 in February, and the strongest reading since 2001. On Brexit front, U.K. Prime Minister Theresa May signed the official letter to the European Council President Donald Tusk to invoke Article 50 of the Lisbon Treaty. The letter once delivered to Tusk on late Wednesday, will then begin the official two-year process of the U.K. leaving the bloc. Japan's Nikkei share average eked out small gains in choppy trade, but gains were limited as ex-dividend share price adjustments pressured the market and offset positive sentiment from strong U.S. shares overnight. The Nikkei rose 0.1 percent to 19,217.48 after traversing the negative and positive territory. In down under, the Australian benchmark ASX 200 closed up 0.9 percent or 52.3 points at 5,873.50. Meanwhile, China stocks slid on Wednesday, posting losses for the third day in a row amid concerns over liquidity and tighter polices as the money market saw a net drain for a fourth consecutive day after the central bank skipped open market operations. The blue-chip CSI300 index fell 0.1 percent, to 3,465.19 points, while the Shanghai Composite Index lost 0.4 percent to 3,241.31 points. Page 1 of 6
4. TA Securities 30-Mar-17 A Member of the TA Group Energy Sector Lift S &P 500 to Slight Gain The benchmark S&P 500 eked out a gain on Wednesday as strength in the energy sectors offset declines in financial shares and investors began looking ahead to first-quarter earnings season. The energy sector gained 1.2 percent, leading all sectors after larger-thananticipated declines in stockpiles of crude products including gasoline suggested strong demand. U.S. crude rose 2.4 percent to close above USD49.51 a barrel. Traders were also looking to first-quarter earnings to support lofty valuations for stocks, with the S&P 500 trading at nearly 18 times earnings estimates for the next 12 months against its long-term average of 15 times. Meanwhile, Britain's ambassador to the EU, Tim Barrow, handed the official letter triggering Article 50 to European Council President Donald Tusk. This commences the country's two-year exit process from the trading bloc. Financial shares were the biggest laggards in the S&P 500, falling 0.5 percent. The Dow Jones Industrial Average fell 42.18 points, or 0.2 percent, to 20,659.32, the S&P 500 gained 2.56 points, or 0.11 percent, to 2,361.13 and the Nasdaq Composite added 22.41 points, or 0.38 percent, to 5,897.55. Page 2 of 6
5. TA Securities 30-Mar-17 A Member of the TA Group News In Brief Corporate Halex Holdings Bhd has provided more details for minority shareholders on the ongoing mandatory takeover offer for the group ’s shares at a cash price of 64 sen per share. In a notification filed with the exchange yesterday, the offerers attempting to take over the company disclosed that they intend to maintain the listing status of Halex on the Main Market of Bursa Malaysia. The offer is led by Waras Dinamik Sdn Bhd (WDSB) and Datuk Ong Soon Ho, who is a director in both Halex and WDSB. Inclusive of Ong’s own 4.57% direct stake in the group, the joint-offerers currently own approximately 50.13mn Halex shares, representing a 50.13% interest in the group following the purchase as at March 23. (The Star) Eastern & Oriental Bhd’s (E&O), which share price surged to a two-year high yesterday, is believed to have found a strategic investor who will pump in fresh capital to kick start its second land reclamation project Phase 2A of the Seri Tanjung Pinang (STP) development. E&O is on a lookout for a deep pocket investor. It had also been reported that the property developer intends to have an investor willing to acquire 40% stake in the project. (Edge Daily) Padiberas Nasional Berhad (Bernas), the country’s sole rice importer is offering RM4 per share to minority shareholders who did not take up the takeover in 2014. Bernas obtained shareholders’ approval in an extraordinary general meeting (EGM) last week for selected capital reduction and repayment to buy out the remaining shares of some 9.69mn, or a 2.06% stake, currently held by the minorities of Bernas. The offer price is 30 sen higher than previously. The selected capital repayment will pave way for Bernas’ listing exercise, which is expected to be in 2020. (Edge Daily) Mechanical and electrical engineering services provider Bintai Kinden Corp Bhd has secured a S$14.2mn (RM44.94mn) contract for sub-contract works to the existing Raffles Hotel and Shopping Arcade in Singapore. The contract is non-renewable with a fixed contract period, and the sub-contract work is expected to be completed by June 2018. Bintai Kinden’s 69.82%-owned subsidiary, Bintai Kidenko Pte Ltd, is to carry out the supply, delivery, installation, testing and commissioning works, including the maintenance for mechanical and electrical works in respect of the proposed additions and alterations to the three-storey building with a basement carpark. (The Star) Malaysia will send its first Malaysian Sustainable Palm Oil (MSPO)-certified palm oil consignment to Europe by year-end, said Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong. He said the mandatory implementation of MSPO certification by end-2019 was seen as a move towards branding local palm oil as sustainably-produced and safe. “We target to send five million tonnes of MSPO-certified oil to Europe by 2019. We will continue to engage with all companies and European buyers, he told a press conference here yesterday. Mah said the implementation of MSPO certification showed Malaysia’s serious commitment to ensure sustainability in palm oil plantation. (The Star) The Federation of Malaysian Manufacturers (FMM) is asking the Government to defer and review the implementation of the Employment Insurance Scheme (EIS) as it would be an added tax burden to employers and employees. FMM president Tan Sri Lim Wee Chai said the 0.5% contribution rate would be too high to commensurate with the small number of retrenchments in this country. “Additionally, we already have a Retrenchment Benefits Act to take care of those who lose their jobs,” he told the media in a press conference yesterday. The new policy will be tabled in the June meeting of Parliament and expected to be implemented on Jan 1, 2018 while payment of the benefits will start on Jan 1, 2019. (The Star) Page 3 of 6
6. TA Securities 30-Mar-17 A Member of the TA Group Property developer Mah Sing Group Bhd is on track to hit at least RM1 .8bn in sales this year, as the company had initially forecast. While it has only been two months into 2017, Mah Sing group managing director Tan Sri Leong Hoy Kum said everything was “still going on as planned”. “We are on track to deliver our numbers and will announce our latest figures when we announce our first-quarter earnings. “We will continue to launch projects in every quarter of this year,” he told reporters on the sidelines of the launch of Mah Sing’s Residensi Seri Wahyu RUMAWIP project in Lakeville Residence yesterday. Leong said the company will launch between six and seven ongoing projects this year. (The Star) Hai-O Enterprise Bhd has posted revenue and net profit of RM107.18mn and RM15.36mn respectively, for its third quarter ended Jan 31, 2017. The revenue and net profit for the quarter rose by 33% and 57%, when compared to the corresponding period last year. This brought its nine-month cumulative revenue and net profit to RM285.62mn and RM41.01mn. The higher revenue during the quarter was achieved by the group’s multilevel marketing (MLM) and retail divisions. (The Star) Iskandar Malaysia still needs about 500,000 new homes to cater for an estimated three million-strong population by 2025. Iskandar Regional Development Authority chief executive officer Datuk Ismail Ibrahim said the state only had about 700,000 homes presently. “Iskandar Malaysia is growing at an annual rate of 7% to 8% and we expect the population to grow from 1.45mn in 2005 to 3mn in 2005. “This population will need a total of 1.2 million homes,” he said during a special media briefing here. He added that while there was a slowdown in the property sector in Iskandar, he did not expect it to last long as there was a need for new homes. (The Star) Asian Business Software Solutions Sdn Bhd (ABSS), a subsidiary of Censof Holdings Bhd, aims to get 125,000 micro and small businesses to use its new accounting software, Financio, by March 2018. The business solutions provider launched Financio yesterday to help entrepreneurs with the financial side of business. Its chief executive officer, Paul Conway, said many start-ups and small businesses could not afford or hire an accountant and they could lose track of their financials and potentially jeopardise their businesses. (The Star) Convenience store operator, Bison Consolidated Bhd, plans to increase the myNEWS.com outlets to about 400 by end-2017. The move comes on the heels of growing demand for the retail convenience store concept in Malaysia. Executive Director and Chief Executive Officer Dang Tai Luk said Malaysia is largely under-penetrated in this market and far below those of developed and mature markets such as Taiwan, Hong Kong or Japan. (Bernama) Kuantan Flour Mills (KFM) is proposing a private placement and a five-for-two rights issue to raise money for debt repayment and working capital. The 20.46mn placement shares and up to 221.74mn right shares will be issued at 20 sen per share. The corporate exercises are part of the group’s reorganisation plan to regularise its financial condition, which also involves restructuring its debts, KFM said in a filing with Bursa Malaysia yesterday. KFM fell under Practice Note 17 status in December 2015. (Edge Daily) Page 4 of 6
7. TA Securities 30-Mar-17 A Member of the TA Group News In Brief Economy Asia RON95 Petrol Down 17 sen in First Weekly Fuel Price Announcement The new weekly fuel price system kicked off with the ceiling price for RON95 lowered by 17 sen or 7 .39% to RM2.13 per litre from RM2.30 effective 30 March 2017. “The price will stay on for one week, and the calculation of the price will take into consideration the average product cost and foreign exchange regime for the previous one, which will give more predictability and stability to end users,” said Domestic Trade, Co-operatives and Consumerism Ministry’s secretary-general Datuk Seri Jamil Salleh in a live telecast. As for RON97, Jamil said the ceiling retail price will come down by 19 sen or 7.31% to RM2.41 per litre from RM2.60. Meanwhile, the diesel price is reduced by nine sen or 4.1% to RM2.11 per litre from RM2.20. “Retailers are reminded to abide by the prices announced, and if they wish to offer discounts, they must obtain prior permission from the government,” Jamil added. Data showed that Brent crude oil price has fallen by 9.2% from US$55.92 per barrel on March 7, 2017 to US$50.75 per barrel on March 27. Since then, it has strengthened by 1.62% to close at US$51.57 per barrel. As for the ringgit, it has rebounded by 1.05% from RM4.4605 on March 9, 2017, to RM4.4135 on March 28, 2017. Since then, it has weakened by 0.14% to close at RM4.4198. (The Edge Market) Singapore PPI Climbs for Third Month Singapore's producer prices increased for the third straight month in February. The manufactured product price index climbed 7.9% year-over-year in February, slower than January's 8.9% spike. The oil and non-oil indices grew 59.1% and 1.7%, respectively in February from a year ago. The domestic supply price index rose 15.3% annually in February, while it dropped 0.2% from a month ago. On a monthly basis, producer prices decreased 0.3% from January, when it increased by 0.8%. Data also revealed that import prices grew at a faster rate of 11.9% yearly in February, following a 11.3% rise in the prior month. It was the fourth month of increase in a row. Similarly, export prices went up 6.5% in February from a year earlier, after a 5.9% gain in the prior month. (RTT News) Japan Retail Sales Gain 0.2% on Month in February Retail sales in Japan were up a seasonally adjusted 0.2% on month in February, which missed forecasts for 0.3% but was unchanged from the January reading following a downward revision from 0.5%. On a yearly basis, retail sales added just 0.1% - again shy of expectations for 0.7% and down from 1.0% in the previous month. Sales from large retailers sank an annual 2.7% versus forecasts for a fall of 1.8% after sliding 1.1% a month earlier. (RTT News) Thai Central Bank Keeps Rate On Hold The Thai central bank kept its interest rate unchanged as the economy is expected to grow faster than the previous estimate this year amid subdued inflation. The Monetary Policy Committee of the Bank of Thailand unanimously voted to keep the interest rate at 1.50%. The benchmark rate has been at the current level since April 2015, when it was reduced by a quarter points. The bank lifted its growth outlook to 3.4% from 3.2% for 2017. The bank said economic growth will improve to 3.6% in 2018 on the back of increased domestic spending and exports. Risks to growth forecasts skew more downward mainly due to international economic uncertainty, the bank added. Inflation was forecast to gradually increase and return to the midpoint of the inflation target although it was revised down due to the lower-than-expected outturn and oil price. The bank lowered its inflation outlook for 2017 to 1.2% from 1.5%. In 2018, inflation was expected to rise to 1.9%. (RTT News) U.S. U.S. Pending Home Sales Surged in Warm February A gauge of upcoming U.S. home sales firmed in February. The National Association of Realtors pending home sales index, which tracks contract signings for purchases of previously owned homes, climbed 5.5% in February from the prior month to 112.3, its Page 5 of 6
8. TA Securities 30-Mar-17 A Member of the TA Group highest level since April 2016 and the second-highest reading since May 2006 . Economists surveyed by The Wall Street Journal had expected a more modest 2.1% gain. Sales typically close within a month or two of signing, so the report could herald a sales rebound as the spring home-buying season approaches. Lawrence Yun, the NAR’s chief economist, credited unusually warm weather, a rising stock market and steady hiring for the stronger sales, along with buyer expectations that interest rates could rise further in the coming months. News Corp, owner of The Wall Street Journal, also operates Realtor.com under license from the National Association of Realtors. (The Wall Street Journal) U.K. U.K. Mortgage Approvals Fall in February U.K. mortgage approvals declined in February and consumer credit growth slowed from January, the Bank of England reported. The number of loans approved for house purchases fell to 68,315 in February from 69,114 in January. Approvals were forecast to remain at 69,100. The dip in mortgage approvals fuels the belief that the housing market will come under increasing pressure over the coming months. Markedly weakening consumer fundamentals, likely mounting caution over making major spending decisions, and elevated house price to earnings ratios are likely to weigh down on housing market activity and house prices, the economist added. However, a shortage of supply is likely to put a floor under prices, Archer said. Lending to individuals climbed GBP 4.9 billion in February after rising GBP 4.8 billion, data showed. Within total lending, secured lending increased at a faster pace of GBP 3.5 billion compared to January's GBP 3.2 billion rise. Secured lending growth came in line with expectations. Meanwhile, consumer credit rose at a slower pace of GBP 1.4 billion, following a GBP 1.6 billion increase in January. Economists had forecast an increase of GBP 1.3 billion. The annual growth in the monetary aggregate M4 eased to 5.7% in February from 7% in January. Month-on-month, M4 fell 0.3%. (RTT News) Europe Germany's Import Prices Rise Most Since 2011 Germany's import prices climbed by more-than-expected 7.4% year-on-year in February, the highest rise since April 2011, when prices surged 7.6%. Economists had forecast an annual growth of 7%. Prices had increased 6% in January and 3.5% in December. Monthon-month, import prices rose 0.7% in February after climbing 0.9% in January, but faster than the expected 0.4% rise. Excluding crude oil and mineral oil products, import prices increased 4.5% from prior year in February. At the same time, export prices climbed 2.5% in February from the same period of previous year, faster than January's 1.8% increase. On a monthly basis, export prices gained 0.2%. (RTT News) Share Buy-Back: 29 Mar 2017 Company AMPROP ANNJOO ATTA FITTERS SIGN SNTORIA UNIMECH Bought Back Price (RM) Hi/Lo (RM) 18,800 75,900 244,700 70,600 50,000 50,000 38,200 0.84 2.33 1.26/1.20 0.41 0.96/0.925 0.73/0.72 1.09/1.06 0.84/0.83 2.39/2.32 1.26/1.20 0.415/0.405 0.965/0.925 0.73/0.71 1.09/1.06 Total Treasury Shares 12,790,400 23,072,900 3,955,200 17,066,900 11,208,100 981,000 5,889,010 Source: Bursa Malaysia 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 6 of 6
9. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 29-Mar-17 2.03 2.50 6.14 Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.36 2.04 5.12 0.98 0.54 1.21 10.8 22.7 17.7 15.8 23.8 27.6 18.8 11.0 34.8 12.9 10.5 22.3 5.9 3.6 1.8 7.7 3.6 2.9 2.44 2.70 7.03 -16.8 -7.4 -12.7 1.95 1.95 4.43 4.1 28.2 38.6 -4.7 16.8 34.4 3.90 3.20 5.00 5.60 14.90 8.60 20.90 4.40 8.50 1.26 0.93 1.26 1.32 0.66 0.92 0.80 1.27 0.70 35.8 29.4 46.4 50.6 101.3 73.7 136.6 49.0 36.4 37.7 33.1 50.6 55.6 109.8 82.8 140.4 51.7 38.2 11.5 9.7 10.4 11.0 13.5 12.2 14.6 10.7 27.1 10.9 8.6 9.6 10.0 12.5 10.8 14.2 10.2 25.8 3.6 2.8 3.3 3.6 3.0 5.6 2.8 2.3 3.4 3.6 2.8 3.7 4.0 3.0 5.6 2.9 2.3 3.4 4.37 2.92 5.03 5.83 13.80 9.20 20.28 5.39 10.00 -5.5 -2.7 -3.6 -4.3 -0.9 -2.5 -1.7 -2.6 -1.2 3.60 2.08 3.90 4.11 12.70 7.50 18.52 4.43 8.20 14.7 36.5 24.4 35.7 7.7 19.6 7.7 18.5 20.5 11.0 18.8 12.5 23.7 1.3 9.4 1.1 11.5 11.6 0.44 1.25 5.33 3.50 0.69 1.75 1.84 5.99 0.49 1.45 5.49 3.27 0.58 1.90 1.50 5.58 0.81 0.70 1.04 1.08 1.16 na 1.04 0.13 6.0 12.9 31.6 16.8 9.6 12.6 12.8 44.4 6.0 13.2 36.5 20.9 9.9 12.5 12.7 45.8 7.3 9.7 16.8 20.8 7.1 13.8 14.3 13.5 7.3 9.5 14.6 16.7 6.9 13.9 14.4 13.1 0.0 2.2 2.3 2.7 1.5 3.1 1.6 4.2 2.3 2.2 2.3 2.7 1.5 3.1 1.6 4.2 0.51 1.35 5.33 3.61 0.75 1.82 1.98 6.06 -14.7 -7.5 0.0 -3.0 -8.7 -3.8 -7.1 -1.2 0.36 0.78 4.59 3.07 0.41 1.42 1.41 5.02 20.8 60.3 16.1 14.0 69.1 23.2 30.5 19.3 0.0 19.0 11.5 9.4 19.1 2.9 6.4 1.9 1.98 2.00 0.47 15.4 15.6 12.9 12.7 5.1 5.1 2.40 -17.5 1.93 2.6 -1.5 15.00 17.84 15.41 21.08 0.57 0.59 69.6 93.1 77.5 21.5 101.9 19.2 19.4 17.5 4.6 4.7 5.1 5.1 15.20 18.74 -1.3 -4.8 12.38 13.60 21.2 31.2 7.8 8.9 2.38 7.40 24.88 78.62 2.93 1.88 4.65 0.96 2.23 9.59 26.14 83.60 4.00 2.74 4.17 1.10 0.46 0.33 0.34 0.38 0.47 0.68 0.46 0.56 6.5 35.9 97.9 291.3 23.5 25.1 12.7 9.6 7.5 40.5 119.6 318.0 26.5 25.3 15.8 13.2 36.6 20.6 25.4 27.0 12.5 7.5 36.6 10.0 31.5 18.3 20.8 24.7 11.1 7.4 29.5 7.3 0.8 4.1 2.5 3.6 5.1 4.3 1.0 5.2 1.0 5.1 3.0 3.8 6.1 4.3 1.1 5.2 3.00 9.58 27.00 81.80 3.08 2.04 4.70 1.07 -20.7 -22.8 -7.9 -3.9 -4.9 -7.8 -1.0 -10.5 2.11 7.31 20.10 74.12 1.92 1.42 4.14 0.78 12.8 1.2 23.8 6.1 52.8 32.4 12.2 22.4 -7.4 1.0 6.0 0.5 14.9 8.7 7.4 20.1 45.44 54.22 1.02 271.1 271.8 16.8 16.7 5.8 5.8 55.64 -18.3 40.31 12.7 2.9 9.67 5.70 10.34 6.10 1.34 1.27 45.0 25.7 51.0 27.9 21.5 22.2 19.0 20.4 0.5 1.4 0.6 1.6 9.90 5.81 -2.3 -1.9 7.50 4.17 29.0 36.6 21.7 26.1 2.92 0.12 3.81 0.10 0.72 1.26 22.1 0.2 24.6 0.3 13.2 51.1 11.9 38.1 5.5 0.0 6.5 0.0 3.42 0.13 -14.6 -11.5 2.86 0.05 2.1 130.0 -1.4 130.0 6.00 4.05 6.40 4.61 0.78 0.50 13.9 13.3 17.9 16.5 43.2 30.4 33.4 24.6 0.7 1.5 0.8 1.9 6.79 4.37 -11.6 -7.3 5.78 3.85 3.8 5.2 -5.5 -3.1 4.85 6.30 1.98 5.00 2.05 4.50 6.80 1.90 5.05 2.55 0.54 0.10 0.36 -0.21 0.30 18.2 35.8 16.2 26.6 4.3 21.2 40.5 18.2 30.2 7.1 26.7 17.6 12.3 18.8 47.8 22.8 15.6 10.9 16.5 29.0 1.7 2.8 2.4 2.7 0.5 2.0 3.2 2.8 3.0 0.9 5.03 7.07 2.88 5.45 2.74 -3.6 -10.9 -31.3 -8.3 -25.2 3.81 5.90 1.98 4.20 1.96 27.3 6.8 0.0 19.0 4.6 0.4 -4.4 -6.2 -6.5 -13.1 INDUSTRIAL SCIENTX SKPRES 7.30 1.25 8.50 1.75 0.54 0.49 67.9 9.3 78.0 14.4 10.8 13.4 9.4 8.7 2.7 3.5 3.2 5.5 7.61 1.44 -4.1 -13.2 5.75 1.12 27.0 11.6 9.0 -3.1 MEDIA ASTRO MEDIA PRIMA STAR 2.81 1.15 2.40 3.20 0.85 1.95 1.04 0.67 0.58 13.2 7.7 15.0 14.5 8.0 15.8 21.2 14.9 16.0 19.4 14.4 15.2 4.4 5.4 7.5 4.6 5.5 7.5 3.02 1.53 2.70 -7.0 -24.8 -11.1 2.56 1.00 2.20 9.8 15.0 9.1 8.1 0.0 7.1 OIL & GAS EATECH MHB MISC PANTECH PCHEM UMWOG UZMA 0.68 0.95 7.34 0.56 7.62 0.62 1.81 0.45 0.96 8.16 0.52 7.91 0.54 1.40 na 1.79 0.86 1.26 1.13 1.96 1.40 11.5 -0.4 49.5 3.7 34.7 -14.7 11.3 11.9 1.1 56.1 4.3 39.3 -12.4 12.2 5.9 na 14.8 14.9 22.0 na 16.0 5.7 85.1 13.1 12.9 19.4 na 14.8 5.0 0.0 4.1 2.7 2.5 0.0 0.0 6.0 0.0 4.1 3.1 2.9 0.0 0.0 1.25 1.34 9.00 0.58 7.75 1.04 2.04 -46.0 -29.1 -18.4 -3.5 -1.7 -40.4 -11.3 0.45 0.84 6.88 0.44 5.95 0.61 1.30 51.7 13.1 6.7 27.6 28.1 2.5 39.2 8.9 3.8 -0.1 24.7 9.2 -29.1 6.5 BANKS & FINANCIAL SERVICES AFG 4.13 AFFIN 2.84 AMBANK 4.85 CIMB 5.58 HLBANK 13.68 MAYBANK 8.97 PBBANK 19.94 5.25 RHBBANK BURSA 9.88 CONSTRUCTION BPURI GADANG GAMUDA IJM SENDAI SUNCON WCT LITRAK Building Materials WTHORSE CONSUMER Brewery CARLSBG HEIM Retail AEON AMWAY F&N NESTLE PADINI POHUAT QL SIGN Tobacco BAT GAMING Casino GENTING GENM NFO BJTOTO LUSTER HEALTHCARE Hospitals IHH KPJ Rubber Gloves HARTA KOSSAN SUPERMX TOPGLOV KAREX
10. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price (RM) PLANTATIONS FGV IJMPLNT IOICORP KLK SIME UMCCA Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.05 3.15 4.65 24.78 9.40 6.27 1.53 3.88 3.93 22.75 8.24 7.52 1.75 0.45 1.06 0.94 1.25 0.50 6.3 13.7 18.7 111.8 30.8 32.7 11.1 15.7 21.1 119.1 35.3 34.5 32.3 23.0 24.8 22.2 30.6 19.2 18.5 20.0 22.1 20.8 26.6 18.2 2.4 2.2 2.2 2.2 2.3 2.6 2.4 2.5 2.6 2.4 3.0 2.7 2.52 3.74 4.81 25.50 9.55 6.30 -18.7 -15.8 -3.3 -2.8 -1.6 -0.5 1.31 3.15 4.07 22.62 7.10 5.53 56.5 0.0 14.3 9.5 32.4 13.4 32.3 -7.4 5.7 3.3 16.0 4.5 0.72 1.13 0.96 2.06 1.47 0.73 3.55 3.25 0.69 1.09 1.00 2.10 1.60 0.80 3.82 3.40 0.64 0.64 0.34 0.92 0.68 0.31 0.67 0.49 3.4 20.0 7.3 14.7 14.5 6.4 27.7 31.2 7.0 17.4 11.2 15.3 12.5 9.7 24.5 33.3 20.9 5.7 13.1 14.0 10.1 11.4 12.8 10.4 10.3 6.5 8.6 13.4 11.8 7.5 14.5 9.8 5.6 3.5 3.7 3.4 4.1 1.4 3.9 3.7 5.6 3.1 4.2 3.6 3.7 1.4 3.9 3.7 0.84 1.43 1.09 2.46 1.70 0.86 3.61 3.28 -14.3 -21.1 -12.4 -16.3 -13.5 -15.7 -1.7 -0.9 0.68 1.05 0.91 1.85 1.34 0.69 2.80 2.87 5.9 7.6 4.9 11.5 9.7 5.1 26.8 13.2 3.6 0.0 -4.5 5.7 2.8 -9.4 13.4 7.3 1.72 1.66 1.79 1.78 0.54 0.62 8.9 8.1 10.1 8.5 19.4 20.5 17.0 19.5 5.2 5.4 5.9 5.7 1.84 1.72 -6.5 -3.5 1.57 1.43 9.6 16.1 0.0 8.5 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.21 23.90 19.80 13.74 1.53 1.45 20.19 19.64 17.19 1.81 na 0.77 0.78 1.02 0.59 6.9 98.4 89.4 129.4 8.8 8.3 102.3 91.6 132.7 10.6 17.5 24.3 22.1 10.6 17.5 14.6 23.4 21.6 10.4 14.5 5.8 3.1 3.2 2.5 6.5 4.8 3.2 3.0 2.6 6.5 1.80 25.70 22.66 14.90 1.64 -32.8 -7.0 -12.6 -7.8 -6.7 1.14 22.16 19.56 13.00 1.38 6.1 7.9 1.2 5.7 10.9 -11.7 0.4 -7.0 -1.2 2.7 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 5.13 5.16 6.44 6.41 5.25 4.90 5.95 6.95 1.27 0.96 0.72 0.68 16.7 20.8 25.1 21.4 17.6 21.1 25.4 22.3 30.7 24.8 25.7 29.9 29.1 24.5 25.3 28.7 1.7 4.0 3.1 3.0 1.7 4.1 3.1 3.1 5.99 5.18 6.49 6.90 -14.4 -0.4 -0.8 -7.1 4.11 4.31 5.36 5.81 24.8 19.7 20.1 10.3 8.7 6.8 7.7 7.7 TECHNOLOGY Semiconductor & Electronics IRIS 0.14 INARI 2.03 MPI 11.80 UNISEM 3.15 0.14 2.05 10.55 3.15 1.30 0.75 0.45 0.78 -1.2 10.7 88.9 26.9 0.9 na 12.8 19.0 101.9 13.3 29.1 11.7 14.9 15.9 11.6 10.8 0.0 2.0 1.9 3.8 0.0 2.4 1.9 3.8 0.24 2.10 12.22 3.30 -43.8 -3.3 -3.4 -4.5 0.10 1.28 6.86 2.12 35.0 58.3 72.0 48.6 22.7 22.3 59.2 33.5 3.07 7.16 3.02 7.68 1.18 1.45 33.5 9.8 34.9 10.2 9.2 72.8 8.8 70.4 0.0 1.4 0.0 1.4 3.30 7.30 -7.0 -1.9 1.78 5.76 72.5 24.3 34.1 18.2 1.69 4.07 1.88 4.51 0.86 0.69 15.5 19.3 21.7 17.4 10.9 21.1 7.8 23.4 3.3 3.6 4.1 3.2 1.76 4.59 -4.0 -11.3 1.22 3.74 38.5 8.8 6.3 -5.3 PROPERTY GLOMAC HUAYANG IBRACO IOIPG MAHSING SNTORIA SPSETIA SUNWAY REIT SUNREIT CMMT TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 19.29 OCBC 9.72 UOB 22.00 PLANTATIONS WILMAR IFAR 3.58 0.52 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52week 52week FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 16.70 8.50 19.40 1.21 1.12 1.08 173.8 87.8 195.7 190.2 11.1 92.5 11.1 209.4 11.2 10.1 10.5 10.5 3.1 5.7 3.2 3.1 6.7 3.2 19.4 9.8 22.1 -0.4 -0.6 -0.4 14.63 8.84 17.41 31.9 18.4 26.4 11.2 9.0 7.8 3.45 0.51 0.91 1.12 28.9 3.9 31.1 4.3 11.5 12.2 2.2 1.8 2.5 2.0 4.0 0.6 -10.5 -16.8 2.96 0.44 20.9 18.2 -0.3 -1.0 12.4 13.3 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. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.
11. COMPANY UPDATE TA Securities Thursday , 30 March 2017 FBM KLCI: 1,750.41 Sector: Consumer A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Signature International Berhad TP: RM1.10 (+15.3%) Last traded: RM0.955 Job Replenishment Faster than Execution BUY THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY Tan Kam Meng, CFA Tel: +603-2167 9605 kmtan@ta.com.my Management exclaimed in delight that “we have a situation now where job replenishment is faster than execution…”. This has reaffirmed our view that the delay in job award has reached a critical stage where any further delay may defer project handover and subject to liquidated damages. In view of this, Signature has been aggressively buying back its shares as the market has not entirely priced in the increasing job flows. Maintain Buy on Signature with an unchanged target price of RM1.10/share. www.taonline.com.my Share Information Bl oombe rg Code SI GN MK Stock Code SI GN (7246) Li s ti ng Ma i n Ma rket Sha re Ca p (mn) 233.0 Ma rke t Ca p (RMmn) 222.5 Pa r Va l ue (RM) 0.3 52-wk Hi /Lo (RM) 1.067/0.78 12-mth Avg Da i l y Vol ('000 s hrs ) Winds of change Unfavourable project timing in 1HFY17. One of the key culprits to disappointing 1HFY17 profit growth (-42.2% YoY) was the drop in revenue as project executions remained at snail-pace. For instance, one of the key projects in KLCC, which the company secured in July-16 with a contract sum of RM38mn, that involves kitchen installation works are still pending on completion of the building superstructure 5 months after the award. However, management is positive that the situation would change from 4QFY17 onwards with strong contract wins in recent months. Further delaying may cause LAD. From January to February 2017, Signature secured 8 new contracts worth RM34mn. This has boosted its order book to RM220mn as at Feb-17 (vs RM200mn in Dec-16). Moreover, the company is close to secure 8 other new contracts worth RM40mn, pending formal awards in these few months. According to management, the delay in contract awards in 2016 when property developers slowing down the work progress to smooth out their future incomes would likely push more jobs to 2017-2018. The contract delay, in our opinion, has reached a critical stage where any further delay may defer project handover and subject to liquidated damages (LAD). Housing supply mix tilted toward property >500,000/unit. Beyond 2018, we remain upbeat and continue expecting the favourable mix of housing supply in Malaysia to bode well for Signature. Note that the increased supply of residential properties priced above RM500,000/unit continued to outweigh affordable housing in Klang Valley, Penang and Johor in Malaysia (see Figure 1). This upmarket and luxury home segment is the typical target market for Signature, a premier kitchen player in Malaysia. 673.2 Es ti ma te d Fre e Fl oa t (%) 41.7 Beta (x) 0.6 Major Shareholders (%) Ta n Kee Chong (26.1%) Chooi Yeoy Sun (25.9%) RHB As s et Ma na gement (6.3%) Forecast Revision FY17 FY18 Fore ca s t Re vi s i on (%) 0.0 0.0 Ne t profi t (RMm) 22.2 30.6 21.1 26.2 TA's / Cons e ns us (%) 105.4 117.1 Previ ous Ra ti ng Buy (Ma i nta i ned) Cons e ns us Financial Indicators FY17 FY18 Ne t Ge a ri ng (%) 0.1 Ne t ca s h FCF/s ha re (s en) (30.7) 13.8 nm 6.9 13.4 17.0 NTA/Sha re (RM) 0.7 0.8 Pri ce/NTA (x) 1.3 1.2 Price Change SIGN FBM KLCI 1 mth 11.0 3.3 3 mth 20.1 6.6 6 mth 3.8 5.9 12 mth (3.5) 1.9 P/CFPS (x) ROE (%) Share Performance (%) (12-Mth) Share Price relative to the FBM KLCI Source: Bloomberg Page 1 of 3
12. TA Securities 30-Mar-17 A Member of the TA Group Figure 1 : Upmarket segment grew at 7yr CAGR of >10% +10.5% Above 1m 12.6% 500k-1m -4.3% 200k-500k -11.5% 0-200k 0 20000 2016 2015 40000 2014 60000 2013 2012 80000 2011 100000 2010 120000 2009 Source: NAPIC & TA Research No significant progress in Battersea tender. As far as Battersea is concerned, there is no significant progress in terms of kitchen and wardrobe tenders for Phase 2 and Phase 3A. However, we remain confident that Signature would procure the kitchen and wardrobe contracts. Note that Battersea Phase 2 and Phase 3A are targeted for completion in period 4Q2019-3Q2020 and 4Q20202Q21, respectively. It is still early to call for kitchen and wardrobe tenders, which would usually take place when the project is more than 50% completed. Bandar Enstek land will be a long term investment RPGT hinders potential land sale gains. For Bandar Enstek land, Signature took possession of the landbank, measuring 38.86 acres, in Nov-16. Recently, there was an offer to acquire a portion of the landbank from Signature for RM50psf. Based on the land cost of RM30psf, the company can easily rake in RM8.7mn gain from selling the portion of the land. However, the RPGT implication has impeded the sales transaction as the gain would be taxed at 30%. Prefer outright land sales. As there is no immediate plan to expand its current capacity, management did not rule out the possibility of joint developing the land with another property developer. However, this will be the least preferred option that may overly expose the company to property slowdown in Malaysia. In our opinion, investors should consider the land merely an asset for sale over the long term (6-years from Nov-16), which may give rise to a one-off special dividend in the future. Share price support YTD, Signature share price advanced by 20%, thanks to Signature’s share buyback program, which neutralized the selling pressure from Value Partner. We believe the share buyback support is premised on the basis that the market has not fully factored in increasing job flow in the market this year. Looking at the group’s balance sheet, the company had sufficient cash and short-term investment of RM69.6mn (net cash RM47.2mn) as at Dec-16, which can be used for share buyback program. Note that YTD, Signature has bought back 5.1mn shares (2.1% of outstanding shares) at an average price of RM0.89, boosting the group’s cumulative treasury share to 11.2mn shares (4.7% of outstanding shares). Forecast We maintain our profit forecast. Valuation We reiterate our Buy recommendation on the stock with an unchanged target price of RM1.10 based on 10x CY17 EPS. At current price levels, we see little Page 2 of 3
13. TA Securities 30-Mar-17 A Member of the TA Group downside risk as the selling pressure from Value Partner has diminished after the fund management company disposed all its shares in Signature . Profit and Loss (RM'mn) FYE June Revenue COGS Gross profit 2015 273.5 (181.0) 92.5 2016 196.8 (138.6) 58.2 2017F 252.5 (173.0) 79.5 2018F 255.9 (162.9) 93.0 2019F 256.5 (158.6) 97.9 EBITDA Depr. & Amor. Net finance cost EI PBT Adj PBT Tax MI Net profit Core profit EPS (sen)* DPS (sen)* 55.1 (2.8) (2.4) (2.9) 46.9 49.9 (12.2) (1.1) 33.6 36.5 15.2 5.0 43.5 (3.0) (2.1) 23.5 62.0 38.5 (11.4) (2.8) 47.8 24.3 10.2 12.0 38.4 (4.4) (3.6) 0.0 30.5 30.5 (7.3) (0.9) 22.2 22.2 9.3 5.0 52.7 (5.8) (5.0) 0.0 41.9 41.9 (10.1) (1.3) 30.6 30.6 12.8 5.0 56.2 (5.8) (2.7) 0.0 47.8 47.8 (11.5) (1.4) 34.9 34.9 14.5 5.5 Cash Flow (RM'mn) FYE June PBT Non- cash item Chg in working capital Tax Others CFO 2015 46.9 6.0 (15.9) (13.8) (0.8) 22.4 2016 62.0 (37.7) (6.3) (13.0) 18.5 23.5 2017F 30.5 4.4 (36.4) (7.3) 0.0 (8.9) 2018F 41.9 5.8 0.6 (10.1) 0.0 38.2 2019F 47.8 5.8 (0.2) (11.5) 0.0 41.9 Capex Others CFI (4.3) (7.9) (12.1) (1.8) 52.7 50.8 (65.0) 0.0 (65.0) (5.0) 0.0 (5.0) (4.0) 0.0 (4.0) Net Borrowing/Rpmt Dividend Paid Others CFF 1.7 (6.0) 1.6 (2.7) (3.4) (13.8) (3.6) (20.9) 40.0 (12.0) 0.0 28.0 (5.0) (12.0) 0.0 (17.0) (4.0) (13.2) 0.0 (17.2) Key Assumptions (RM'mn)2015 Project revenue 208.7 Retail sales 64.8 New projects secured New bids - 2016 141.8 55.0 - 2017F 189.6 63.0 194 350 2018F 191.1 64.8 193 400 2019F 189.7 66.8 215 400 Balance Sheet (RM'mn) FYE June PPE Investment properties Others LT Assets 2015 49.3 35.9 2.3 87.5 2016 36.3 35.6 3.5 75.5 2017F 97.0 35.6 3.5 136.1 2018F 96.2 35.6 3.5 135.3 2019F 94.4 35.6 3.5 133.5 Inventories Trade & other receivables Cash & Cash equivalent Others ST Assets 17.6 71.6 47.2 38.8 175.2 17.0 62.7 93.3 42.2 215.3 26.1 89.5 47.4 42.2 205.2 24.6 90.5 63.7 42.2 221.0 23.9 90.7 84.4 42.2 241.2 Total Assets 262.7 290.8 341.3 356.2 374.7 Trade and other payables ST Borrowings Others ST Liabilities 49.0 3.3 37.7 90.1 55.3 3.7 42.6 101.5 54.7 3.7 42.6 100.9 54.8 3.7 42.6 101.0 54.1 3.7 42.6 100.4 LT Borrowings Others LT Liabilities 20.6 2.9 23.5 21.2 2.9 24.1 61.2 2.9 64.1 56.2 2.9 59.1 52.2 2.9 55.1 Share Cap Reserves Shareholder's Funds MI 60.0 84.8 144.8 4.3 60.1 100.6 160.7 4.5 60.1 110.8 170.9 5.4 60.1 129.4 189.5 6.7 60.1 151.1 211.2 8.1 Liabilities + Equities 262.7 290.8 341.3 356.2 374.7 Ratios EPS Growth (%) PER (x)* Div Yield (%)* Net cash (RMm) Net gearing (x) ROE (%) ROA (%) NTA (RM)* P/NTA (x)* EV/EBITDA (x) 2015 2016 52.0 (32.8) 6.1 9.1 5.4 12.9 23.2 68.5 Net cash Net cash 27.5 15.9 15.0 8.8 0.60 0.67 1.5 1.4 3.6 3.6 2017F (9.3) 10.0 5.4 (17.4) 0.1 13.4 7.0 0.71 1.3 6.3 2018F 2019F 37.6 13.5 7.3 6.4 5.4 5.9 3.8 28.5 Net cash Net cash 17.0 17.4 8.8 9.5 0.79 0.88 1.2 1.1 4.2 3.5 * Based on outstanding shares of 240mn after the proposed share split of 1 into 2 shares 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. 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 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. for TA SECURITIES HOLDINGS BERHAD(14948-M) (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 3 of 3
14. Thursday , 30 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED LOCAL TECHNICAL REPORTS’ Local Technical Reports 1. Daily Technical Stock Picks 2. Daily Stock Screen 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
15. T e c h n i c a l TA Securities V i e w Thursday , March 30, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Technical Stock Picks Malaysia FBM KLCI: 1,750.41 (-4.01, -0.23%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name FBMKLCI AFFIN AFG AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA BINAPURI CMSB DIALOG ECO WORLD GADANG HSL ISKANDAR KIMLUN KKBE MUDAJAYA MRCB NAIM SKPETRO SUNCON UEMS WASEONG WCT Close 29-Mar 1750.41 Change (4.01) 2.84 4.13 4.85 5.13 5.58 5.16 5.33 9.67 5.70 6.00 4.65 1.21 6.44 8.97 1.28 5.25 9.40 13.74 6.41 4.07 3.07 0.41 0.76 0.44 4.28 1.71 1.52 1.25 1.69 2.62 2.21 1.25 0.98 1.64 1.52 NA High 2.89 4.14 4.89 5.13 5.61 5.18 5.33 9.73 5.81 6.02 4.73 1.26 6.46 9.02 1.29 5.33 9.40 13.78 6.44 4.08 3.14 0.42 0.76 0.45 4.28 1.74 1.52 1.26 1.69 2.66 2.21 1.25 0.98 1.66 1.52 NA -0.05 0.00 0.01 -0.01 Low 1,759.76 1,747.16 0.00 -0.01 0.00 0.08 0.02 -0.01 0.08 -0.08 -0.05 0.00 -0.06 0.02 0.00 -0.03 0.02 -0.05 0.01 0.00 0.00 -0.01 0.01 -0.01 0.02 0.00 0.05 -0.02 0.01 -0.01 0.02 0.05 0.01 0.00 0.01 0.00 0.01 NA 1.75 1.28 0.90 1.84 Tel: +603-2167-9607 2.84 4.07 4.80 5.05 5.56 5.14 5.23 9.60 5.68 5.99 4.65 1.20 6.41 8.93 1.25 5.22 9.32 13.70 6.40 4.02 3.03 0.41 0.74 0.44 4.21 1.71 1.50 1.24 1.67 2.58 2.21 1.25 0.97 1.64 1.51 NA 1.80 1.29 0.91 1.88 1.75 1.25 0.89 1.82 Bollinger Bands Lower Mid Upper 1,704.47 1,733.98 1,763.49 2.73 3.93 4.77 4.50 5.21 5.01 4.85 9.11 5.15 5.84 4.62 1.16 6.32 8.68 1.11 5.06 8.98 13.62 6.21 3.82 2.63 0.39 0.69 0.43 4.12 1.63 1.47 1.16 1.66 1.11 2.11 1.21 0.82 1.41 1.50 1.76 1.68 1.15 0.85 1.82 2.85 4.05 4.89 4.85 5.49 5.11 5.09 9.55 5.45 5.96 4.70 1.19 6.39 8.87 1.20 5.22 9.24 13.71 6.33 3.96 2.85 0.40 0.73 0.45 4.22 1.68 1.51 1.25 1.70 2.26 2.22 1.25 0.93 1.55 1.53 1.90 1.74 1.24 0.88 1.86 2.97 4.17 5.00 5.20 5.77 5.21 5.33 9.99 5.75 6.08 4.78 1.21 6.47 9.06 1.28 5.37 9.51 13.80 6.45 4.10 3.07 0.41 0.77 0.47 4.33 1.73 1.55 1.34 1.73 3.41 2.34 1.29 1.03 1.70 1.55 2.04 1.81 1.33 0.90 1.90 stsoo@ta.com.my RSI Moving Averages 14d 10d 30d 50d 65.79 1,747.73 1,723.67 1,707.39 DMI DI + DI - ADX 39.38 15.00 41.23 Diff 24.37 62.21 60.22 54.30 65.46 65.50 63.44 71.40 60.67 64.38 47.98 47.70 53.50 59.07 64.92 75.46 55.06 62.02 56.02 64.45 55.66 68.96 53.21 59.40 43.28 56.79 61.20 53.84 58.02 49.85 75.54 52.64 45.33 59.83 64.17 42.56 51.11 50.53 63.45 59.01 45.32 24.77 21.82 20.38 32.84 37.13 19.24 28.19 26.42 34.09 18.24 21.95 27.14 19.32 25.07 29.95 19.12 25.61 13.42 24.17 16.95 35.59 21.52 22.98 22.74 21.34 28.20 23.90 25.08 22.11 38.91 21.15 19.94 35.93 31.63 20.27 20.61 19.15 25.25 28.24 12.10 10.75 6.71 (1.65) 13.64 22.70 2.27 17.57 15.33 24.74 (0.61) 5.47 12.19 1.72 7.03 21.67 0.37 3.52 (5.39) 15.25 (5.18) 23.83 12.87 4.38 5.73 20.29 20.29 12.22 11.21 (1.80) 22.02 1.70 (11.69) 18.54 25.85 (3.10) (5.42) 6.42 13.81 14.35 (12.51) 2.87 4.09 4.87 5.01 5.61 5.14 5.20 9.73 5.57 6.01 4.70 1.18 6.40 8.95 1.23 5.28 9.36 13.73 6.38 3.98 2.91 0.40 0.74 0.45 4.26 1.70 1.52 1.27 1.69 2.62 2.20 1.25 0.96 1.61 1.52 1.88 1.77 1.27 0.88 1.86 2.74 4.00 4.80 4.78 5.34 5.09 5.04 9.35 5.37 6.00 4.68 1.20 6.39 8.74 1.18 5.14 9.20 13.65 6.27 3.99 2.79 0.40 0.73 0.45 4.21 1.66 1.51 1.20 1.69 1.91 2.20 1.27 0.91 1.52 1.56 1.90 1.75 1.21 0.88 1.87 2.62 3.93 4.69 4.82 5.19 5.05 4.99 8.96 5.18 6.12 4.63 1.24 6.29 8.54 1.15 5.08 9.06 13.65 6.19 4.07 2.70 0.40 0.69 0.45 4.19 1.62 1.48 1.15 1.68 1.51 2.17 1.30 0.90 1.49 1.59 1.84 1.73 1.17 0.87 1.86 14.02 15.10 22.04 19.20 14.43 16.97 10.61 11.10 9.35 18.85 16.48 14.96 17.60 18.04 8.27 18.75 22.09 18.80 8.92 22.13 11.76 8.65 17.52 18.36 15.61 7.91 11.69 13.87 23.90 16.89 19.44 31.64 17.39 5.79 23.37 26.03 12.73 11.44 13.88 24.61 46.61 31.43 28.95 21.89 43.96 11.98 26.04 59.16 45.83 14.08 20.27 21.34 14.07 33.23 40.02 21.37 19.77 20.87 30.37 41.75 27.16 24.27 18.41 20.50 18.60 45.87 32.94 44.64 11.40 54.28 17.35 17.54 31.70 52.26 20.82 23.99 28.86 43.39 20.97 22.61 www.taonline.com.my Line 13.36 0.07 0.05 0.04 0.09 0.13 0.03 0.09 0.22 0.14 -0.03 0.01 0.01 0.03 0.13 0.03 0.06 0.11 0.03 0.06 -0.01 0.08 0.00 0.01 0.00 0.03 0.03 0.01 0.04 0.00 0.35 0.00 -0.01 0.03 0.05 -0.02 0.00 0.01 0.03 0.01 0.00 MACD Signal Diff 13.02 0.346 0.09 0.05 0.07 0.06 0.14 0.03 0.07 0.25 0.13 -0.04 0.02 0.01 0.03 0.14 0.03 0.07 0.10 0.03 0.06 -0.04 0.07 0.00 0.01 0.00 0.03 0.03 0.01 0.04 0.00 0.38 0.01 -0.02 0.02 0.04 -0.02 0.01 0.01 0.03 0.00 0.00 (0.017) (0.000) (0.020) 0.031 (0.009) 0.001 0.022 (0.036) 0.016 0.017 (0.008) (0.003) (0.002) (0.006) 0.005 (0.006) 0.007 0.001 0.000 0.025 0.014 0.000 (0.000) (0.002) 0.002 0.001 (0.003) (0.007) (0.004) (0.027) (0.003) 0.002 0.005 0.009 0.001 (0.007) 0.003 0.001 0.002 (0.002) DMI MACD Recent Signal BUY BUY DMI MACD Signal Change - BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL BUY BUY BUY SELL BUY BUY - SELL SELL SELL BUY SELL BUY BUY SELL BUY BUY SELL SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL BUY BUY SELL SELL SELL SELL SELL BUY BUY BUY BUY SELL BUY BUY BUY SELL 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
16. Technical Comments : Any further upside on CIMB towards the 138.2%FP (RM5.68), with stronger resistance seen at the upper Bollinger band (RM5.77), should encourage profit-taking and selling as overbought condition will be exaggerated, while key supports are at the 30-day ma (RM5.34) and lower Bollinger band (RM5.21). Likewise, further rise on RHB Bank should meet stronger profittaking resistance towards the 123.6%FP (RM5.49) or 138.2%FP (RM5.69), while support at the 30-day ma (RM5.14) is reinforced by the 50-day ma (RM5.08). CIMB Upper Middle RM5.58 (+0.02) BOLLINGER BANDS RM RM 5.77 5.49 10-day 30-day RM 5.21 50-day Lower DMI Recent Signal BUY 5.19 Recent Signal SELL Signal Change RHB BANK Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 5.61 RM 5.34 BOLLINGER BANDS RM RM RM DMI RM5.25(-0.05) 5.37 5.22 5.06 BUY BUY SIMPLE MOVING AVERAGES RM 5.28 RM 5.14 RM 5.08 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4
17. T e c h n i c a l TA Securities V i e w Thursday , March 30, 2017 FBMKLCI: 1,750.41 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Stock Screen s Malaysia End Day Census of 29.03.2017 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* 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 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 Stock Name DBE GURNEY RESOU AT SYSTEMATIZATI XOX BHD MPAY BORNEO OIL BHD MARCO HOLDINGS B BIO OSMO BHD DIGISTAR CORP LAND & GENERAL PALETTE MULTIMED DIVERSIFIED GATE CHINA AUTOMOBILE PUBLIC BANK BHD KUANTAN FLOUR AIRASIA X BHD NOVA MSC BHD TALAM TRANSFORM NEXGRAM HOLDINGS KUB MALAYSIA BHD NICHE CAPITAL KEY ALLIANCE GRO SKH CONSORTIUM B RGB INTERNATIONA MNC WIRELESS BHD TA GLOBAL BHD GLOBALTEC FORMAT XIDELANG HOLDING PRIVASIA TECHNOL NI HSIN RESOURCE MQ TECHNOLOGY BH Price 0.05 0.05 0.11 0.25 0.18 0.17 0.08 0.20 0.33 0.08 0.06 0.03 19.94 0.20 0.41 0.10 0.05 0.05 0.58 0.10 0.06 0.08 0.29 0.07 0.37 0.05 0.04 0.18 0.29 0.05 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.03 0.03 0.09 0.20 0.16 0.16 0.05 0.17 0.31 0.06 0.03 0.02 19.74 0.18 0.39 0.08 0.04 0.04 0.49 0.08 0.04 0.06 0.27 0.06 0.33 0.04 0.03 0.15 0.27 0.04 0.04 0.04 0.10 0.24 0.18 0.16 0.08 0.19 0.33 0.07 0.05 0.03 19.94 0.19 0.40 0.09 0.04 0.05 0.57 0.09 0.05 0.07 0.29 0.06 0.36 0.05 0.03 0.17 0.28 0.05 0.05 0.06 0.11 0.28 0.19 0.17 0.10 0.22 0.35 0.08 0.07 0.03 20.13 0.21 0.41 0.10 0.05 0.05 0.66 0.10 0.06 0.08 0.30 0.07 0.39 0.05 0.04 0.19 0.29 0.06 55.93 56.18 53.91 53.68 54.03 60.69 53.96 55.91 50.03 58.81 59.85 53.33 47.65 54.00 53.21 58.86 53.57 57.19 57.14 53.55 56.07 56.36 49.46 50.77 60.87 53.93 53.62 51.51 56.32 50.90 0.04 0.05 0.10 0.25 0.18 0.17 0.09 0.20 0.33 0.07 0.06 0.03 19.99 0.19 0.40 0.09 0.05 0.05 0.59 0.09 0.05 0.07 0.29 0.07 0.37 0.05 0.04 0.18 0.28 0.05 0.04 0.04 0.10 0.23 0.17 0.16 0.07 0.19 0.33 0.07 0.05 0.03 19.96 0.20 0.40 0.09 0.04 0.04 0.54 0.09 0.05 0.07 0.29 0.06 0.34 0.05 0.03 0.17 0.28 0.05 0.04 0.04 0.10 0.22 0.17 0.16 0.07 0.18 0.33 0.06 0.04 0.03 20.04 0.19 0.40 0.09 0.04 0.04 0.50 0.09 0.04 0.07 0.30 0.06 0.31 0.05 0.03 0.17 0.28 0.05 Vol 36,526,700 24,858,100 19,757,500 17,705,500 16,007,900 13,330,100 12,994,500 12,367,800 11,524,500 10,479,200 9,659,500 7,357,400 6,107,400 5,919,700 5,560,000 5,284,400 5,064,800 4,971,700 4,863,400 4,798,200 4,758,600 4,606,700 4,556,600 4,405,700 3,781,900 3,701,000 3,105,400 3,027,300 2,902,200 2,898,700 20-day avg vol 23,085,230 22,665,420 16,263,220 17,079,890 73,690,350 3,369,110 14,011,450 23,075,190 5,396,040 4,857,135 6,436,795 8,853,400 6,171,110 1,194,075 12,408,110 2,639,400 9,584,760 14,376,340 7,976,790 1,869,890 2,842,471 3,656,200 10,761,530 11,511,780 6,800,715 6,990,000 5,669,850 3,486,200 1,007,155 10,949,960 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 mediumterm 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
18. TA Securities A Member of the TA Group *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 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Stock Name Price UEM EDGENTA BHD SEALINK INTERNAT IGB CORP BHD PDZ HOLDINGS BHD PERAK TRANSIT BH SILVER RIDGE XINGHE HOLDINGS MALAYSIA BUILDNG KOBAY TECHNOLOGY EITA RESOURCES HANDAL RESOURCES TECHNODEX BHD TOYO INK GRP BHD PA RESOURCES BHD WAH SEONG CORP MALAYSIA PAC COR SAND NISKO CAPIT NOVA MSC BHD EDUSPEC HOLDINGS 3.34 0.18 2.94 0.08 0.27 0.25 0.05 1.28 0.90 1.61 0.29 0.17 0.69 0.08 0.90 0.17 0.30 0.10 0.19 0.23 EDEN INC BHD Raw data sourced from Bloomberg 20 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 3.10 0.16 2.84 0.06 0.17 0.18 0.03 1.11 0.87 1.13 0.23 0.14 0.53 0.06 0.85 0.11 0.22 0.08 0.17 0.20 3.22 0.17 2.89 0.07 0.22 0.22 0.04 1.20 0.89 1.37 0.26 0.16 0.61 0.07 0.88 0.14 0.26 0.09 0.18 0.22 3.33 0.17 2.94 0.07 0.26 0.25 0.05 1.28 0.90 1.61 0.29 0.17 0.69 0.08 0.90 0.17 0.30 0.10 0.19 0.23 65.34 56.44 78.09 62.46 80.22 65.86 60.79 75.46 53.19 75.80 59.54 61.90 60.31 60.07 59.01 63.77 66.32 58.86 55.46 59.68 3.25 0.17 2.91 0.07 0.24 0.23 0.04 1.23 0.88 1.44 0.27 0.16 0.63 0.07 0.88 0.15 0.27 0.09 0.18 0.22 3.22 0.17 2.81 0.07 0.20 0.21 0.04 1.18 0.89 1.32 0.26 0.15 0.58 0.07 0.88 0.14 0.25 0.09 0.18 0.22 3.23 0.17 2.66 0.07 0.19 0.18 0.04 1.15 0.91 1.26 0.25 0.15 0.56 0.07 0.87 0.13 0.25 0.09 0.19 0.22 Vol 4,400 88,500 282,800 1,177,700 16,565,300 10,015,200 1,255,600 22,315,700 1,000 664,600 352,000 20,572,100 1,000 2,448,900 1,131,200 30,500 95,600 5,284,400 119,100 4,644,800 20-day avg vol 407,520 271,820 298,495 7,170,825 13,447,960 3,632,900 7,702,830 13,238,060 28,215 458,385 136,145 3,498,490 10,880 597,815 858,035 90,645 151,035 2,639,400 749,395 1,275,180 *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. p [LOWER BOLLINGER BREAKDOWN] Top 20 Breakdown Stocks (Generally BEARISH, but can be short-term BUY guide) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Stock Name Price BRIT AMER TOBACC SOUTHERN STEEL RAPID SYNERGY FORMOSA PROSONIC IMASPRO CORP BHD SKP RESOURCES BH CI HOLDINGS BHD MAGNA PRIMA BHD EVERGREEN FIBREB CAN-ONE BHD SYF RESOURCES BH BINA DARULAMAN BP PLASTICS HOLD JAYCORP BHD JOHORE TIN BHD LEADER STEEL HLD ASTRO MALAYSIA FLBHD SHH RESOURCES HL COMPUTER FORMS 45.44 1.23 5.48 0.88 1.92 1.25 2.37 1.52 0.84 3.29 0.57 0.78 1.37 1.33 1.30 0.42 2.81 1.59 1.60 1.05 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 46.16 1.27 5.51 0.91 1.95 1.26 2.38 1.53 0.84 3.30 0.57 0.78 1.37 1.33 1.30 0.42 2.81 1.59 1.60 1.05 47.65 1.42 5.70 0.94 2.01 1.33 2.45 1.58 0.88 3.38 0.59 0.81 1.41 1.37 1.35 0.45 2.86 1.63 1.62 1.11 49.15 1.58 5.89 0.97 2.07 1.40 2.52 1.64 0.91 3.47 0.62 0.83 1.45 1.41 1.39 0.49 2.90 1.67 1.64 1.16 37.66 28.01 36.11 24.79 24.60 31.43 28.60 32.78 28.06 36.71 32.09 43.58 34.76 34.14 40.27 39.60 45.37 37.03 36.76 30.53 47.44 1.38 5.65 0.94 1.99 1.30 2.43 1.56 0.87 3.35 0.59 0.80 1.40 1.36 1.34 0.44 2.85 1.62 1.62 1.09 48.02 1.44 5.69 0.95 2.02 1.35 2.48 1.60 0.90 3.39 0.60 0.81 1.43 1.38 1.36 0.45 2.85 1.64 1.63 1.12 46.93 1.38 5.73 0.94 2.03 1.34 2.51 1.59 0.92 3.38 0.61 0.76 1.42 1.39 1.33 0.44 2.83 1.65 1.65 1.17 Vol 636,700 789,400 61,300 307,000 120,100 7,725,100 103,200 233,000 3,475,200 178,800 1,313,000 841,800 189,100 121,600 529,100 118,000 1,348,900 355,400 10,000 2,500 20-day avg vol 273,830 286,030 46,060 194,035 26,125 2,544,735 29,700 217,605 4,144,905 294,495 1,668,775 1,042,450 100,030 258,945 749,840 208,880 1,671,260 357,955 28,545 625 Raw data sourced from Bloomberg 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
19. Thursday , 30 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED FOREIGN TECHNICAL REPORTS’ Asian Technical Reports 1. Foreign Technical Stock Watch (AUS) 2. Foreign Technical Stock Watch (HK) 3. Foreign Technical Stock Watch (FSSTI) 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
20. T e c h n i c a l TA Securities V i e w Thursday , March 30, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Foreign Technical Stock Watch Australia ASX: 5,873.52 (+52.28, +0.90%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* 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 WESTFIELD GROUP FORTESCUE METALS QBE INSURANCE ORIGIN ENERGY AMP SANTOS MACQUARIE GROUP SUNCORP GROUP ORICA OIL SEARCH COCA-COLA AMATIL AMCOR STOCKLAND ALUMINA COMPUTERSHARE QANTAS AIRWAYS SIMS METAL MGMT Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Close Bollinger Bands RSI Moving Averages DMI MACD Change High Low 29-Mar Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff 5873.52 52.28 5876.40 5821.20 5688.33 5765.37 5842.41 64.70 5772.64 5766.19 5729.19 39.04 18.43 19.46 20.60 17.13 10.80 6.326 23.97 60.35 86.14 35.14 32.30 33.24 44.88 31.94 22.53 8.87 6.17 12.87 7.08 5.14 3.85 89.25 13.25 18.01 7.20 10.58 15.29 4.68 1.81 14.12 4.00 12.73 0.07 0.42 0.88 0.44 0.36 0.40 0.50 0.31 -0.24 0.08 0.02 0.08 0.15 0.08 0.04 1.15 0.11 0.26 0.05 -0.01 0.19 0.02 0.05 0.22 0.02 0.21 24.16 60.76 86.28 35.20 32.42 33.32 45.05 32.08 22.67 8.89 6.28 12.95 7.08 5.14 3.87 89.56 13.29 18.06 7.25 10.62 15.34 4.72 1.82 14.18 4.00 12.79 23.92 60.18 85.31 34.76 31.96 32.92 44.40 31.70 22.42 8.80 6.12 12.79 6.98 5.05 3.81 88.54 13.09 17.74 7.10 10.50 15.08 4.65 1.78 13.91 3.95 12.48 23.09 58.23 82.37 33.44 30.77 31.55 42.76 30.47 20.69 8.39 5.93 12.49 6.16 4.91 3.50 86.38 12.93 16.84 6.75 10.23 13.90 4.41 1.70 13.53 3.66 12.12 24.51 60.84 84.05 34.44 31.54 32.45 43.80 31.11 21.90 8.64 6.38 12.79 6.58 5.01 3.68 88.09 13.27 18.13 6.96 10.42 14.52 4.59 1.84 13.86 3.82 12.63 25.93 63.45 85.73 35.45 32.31 33.36 44.84 31.76 23.12 8.90 6.84 13.09 7.01 5.10 3.85 89.80 13.61 19.41 7.18 10.61 15.14 4.77 1.97 14.19 3.98 13.14 41.98 44.24 64.72 62.81 65.39 65.93 66.69 60.36 56.02 59.16 42.15 54.21 64.73 60.19 57.01 59.02 50.64 49.22 61.65 59.87 72.94 61.74 47.11 63.08 73.91 54.73 24.33 60.86 84.20 34.25 31.47 32.24 43.96 31.28 22.42 8.65 6.40 12.81 6.76 5.02 3.73 88.04 13.14 17.73 6.98 10.44 14.75 4.56 1.79 13.82 3.87 12.59 24.98 62.47 84.03 34.29 31.30 32.28 43.47 31.24 22.23 8.73 6.53 12.70 6.64 5.00 3.75 87.72 13.29 18.25 7.01 10.36 14.49 4.61 1.86 13.78 3.75 12.63 25.60 63.82 83.33 33.45 30.56 31.59 42.56 31.50 22.24 8.82 6.54 12.57 6.86 5.04 3.84 86.46 13.26 18.43 7.01 10.17 14.50 4.52 1.88 13.40 3.61 12.29 27.23 27.08 35.79 35.76 33.77 34.42 30.34 27.42 29.31 26.69 18.02 32.56 37.57 26.33 28.39 26.76 24.08 22.84 26.40 29.61 35.11 27.66 24.62 26.28 30.92 25.47 36.88 35.67 18.86 22.84 15.49 18.82 15.50 20.62 23.32 19.85 37.01 22.19 18.08 19.78 21.71 19.99 25.06 26.46 19.00 16.81 14.64 14.58 29.63 17.76 12.27 20.70 16.45 21.67 14.01 20.05 24.42 23.02 22.53 19.54 13.60 25.22 19.77 15.87 19.26 13.62 20.86 13.16 13.76 22.47 16.78 20.45 16.89 18.54 15.73 22.60 30.53 17.28 (9.65) (8.59) 16.93 12.92 18.28 15.60 14.84 6.80 5.99 6.84 (18.99) 10.37 19.49 6.54 6.68 6.76 (0.98) (3.62) 7.39 12.80 20.48 13.09 (5.01) 8.51 18.65 4.78 -0.45 -1.01 0.33 0.21 0.27 0.22 0.44 0.01 0.17 -0.03 -0.10 0.06 0.04 0.01 -0.02 0.39 -0.06 -0.22 0.01 0.09 0.16 0.01 -0.03 0.12 0.09 0.03 -0.43 -1.02 0.23 0.24 0.28 0.22 0.43 -0.08 0.07 -0.08 -0.06 0.07 -0.03 -0.01 -0.05 0.46 -0.05 -0.21 -0.02 0.09 0.06 0.00 -0.03 0.15 0.09 0.05 (0.014) 0.010 0.108 (0.035) (0.003) 0.002 0.012 0.097 0.100 0.044 (0.038) (0.014) 0.071 0.015 0.034 (0.064) (0.013) (0.011) 0.035 0.005 0.101 0.010 (0.005) (0.027) 0.008 (0.017) DMI MACD DMI MACD Recent Signal Signal Change BUY BUY - BUY SELL SELL SELL BUY - BUY BUY BUY - BUY BUY SELL BUY SELL BUY BUY - BUY BUY BUY - BUY BUY BUY BUY BUY BUY BUY SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL SELL BUY SELL BUY BUY BUY SELL - 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 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. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
21. TA Securities A Member of the TA Group 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 AUSTR WBC AU WESTPAC BANKING ANZ AU AUST AND NZ BANK NAB AU NATL AUST BANK WES AU WESFARMERS LTD WPL AU WOODSIDE PETRO NCM AU NEWCREST MINING WFD AU WESTFIELD GROUP FMG AU FORTESCUE METALS QBE AU QBE INSURANCE ORG AU ORIGIN ENERGY AMP AU AMP LTD STO AU SANTOS LTD MQG AU MACQUARIE GROUP SUN AU SUNCORP GROUP LT ORI AU ORICA LTD OSH AU OIL SEARCH LTD CCL AU COCA-COLA AMATIL AMC AU AMCOR LTD SGP AU STOCKLAND AWC AU ALUMINA LTD CPU AU COMPUTERSHARE LT QAN AU QANTAS AIRWAYS SGM AU SIMS METAL MGMT EPS ($) Div Yield(%) PER(x) 52week Price % Chg Close Target Price % upside 23.97 27.75 14% 60.35 70.63 15% 4.43 3.23 10.4 14.3 4.391 3.307 69.80 41.51 0.75 86.14 83.99 -3% 5.64 5.83 15.3 14.8 4.920 5.051 86.28 69.22 4.53 35.14 34.03 -3% 2.41 2.50 14.6 14.0 5.304 5.296 35.26 27.57 7.79 32.30 31.14 -4% 2.39 2.43 13.5 13.3 5.000 5.065 32.42 22.06 6.18 33.24 32.26 -3% 2.41 2.46 13.8 13.5 5.878 5.758 33.32 23.90 8.38 44.88 43.35 -4% 2.61 2.64 17.2 17.0 4.920 4.991 46.06 38.62 6.50 31.94 33.23 4% 1.31 1.49 18.7 16.4 3.159 3.601 32.59 23.82 2.50 22.53 22.94 2% 0.74 0.93 23.2 18.5 0.763 1.110 27.20 16.25 11.26 8.87 9.48 6% 0.33 0.36 20.6 18.9 2.886 2.943 11.14 8.21 -5.44 6.17 6.57 6% 0.84 0.50 5.6 9.5 5.300 3.274 7.27 2.47 4.75 12.87 13.66 6% 0.64 0.80 15.4 12.3 3.302 3.893 13.28 9.22 3.62 7.08 7.30 3% 0.32 0.53 22.0 13.4 0.000 1.243 7.47 4.42 7.44 5.14 5.29 3% 0.36 0.37 14.5 13.8 5.642 5.895 5.96 4.39 1.98 3.85 4.42 13% 0.14 0.20 20.6 15.1 0.935 2.000 5.07 3.30 -4.23 89.25 88.37 -1% 6.16 6.36 14.5 14.0 4.761 4.969 89.88 61.05 2.44 13.25 13.84 4% 0.91 0.98 14.5 13.6 5.525 5.925 13.95 11.27 -2.00 18.01 16.66 -8% 1.05 1.13 17.2 15.9 2.954 3.209 19.49 12.04 1.87 7.20 7.98 10% 0.21 0.26 25.8 21.4 1.222 1.486 7.75 5.98 0.42 10.58 9.92 -7% 0.57 0.60 18.5 17.8 4.527 4.660 10.70 7.94 4.55 15.29 15.97 4% 0.61 0.65 19.3 18.0 2.793 3.126 16.66 13.62 2.27 4.68 4.82 3% 0.31 0.33 14.9 14.2 5.491 5.705 5.11 4.03 2.18 2017 2018 2017 2018 2017 2018 High Low YTD 1.51 1.30 12.1 14.1 3.479 3.008 27.96 15.85 -4.35 1.81 1.87 3% 0.11 0.10 13.1 14.6 5.691 5.691 2.04 1.19 -1.09 14.12 13.19 -7% 0.55 0.60 19.8 17.9 1.884 1.990 14.28 8.63 13.32 4.00 4.38 9% 0.53 0.53 7.60 7.52 3.650 4.450 4.22 2.58 20.12 12.73 12.42 -3% 0.64 0.73 20.0 17.5 3.009 3.095 13.62 7.40 -0.78 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 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
22. T e c h n i c a l TA Securities V i e w Thursday , March 30, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Foreign Technical Stock Watch Hong Kong HSI: 24,392.05 (+46.18, +0.19%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Close Name 29-Mar HANG SENG 24,392.05 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA GALAXY 63.55 86.40 6.41 5.17 9.34 24.05 3.93 114.10 5.75 228.00 194.60 96.35 43.80 6.35 18.52 81.35 3.74 32.20 158.00 15.50 78.10 20.75 67.60 22.55 67.15 5.10 48.30 6.09 4.04 10.50 32.35 6.74 43.55 13.86 17.68 9.66 21.55 22.30 14.10 3.77 11.30 11.08 8.43 3.08 2.37 49.80 36.15 42.75 Change High Tel: +603-2167 9607 Lower 46.18 0.25 (0.40) 0.03 0.02 0.03 0.00 0.02 (0.30) (0.02) 2.00 (0.80) (0.55) 0.00 0.07 0.02 0.05 (0.02) 0.15 (0.40) 0.00 (0.35) 0.15 0.35 (0.10) (0.05) 0.01 0.10 0.00 0.06 0.02 0.00 0.05 0.20 0.04 (0.12) 0.00 (0.35) 0.15 (0.04) (0.01) 0.10 (0.02) 0.10 0.00 (0.01) 0.50 (0.10) 0.10 24,470.66 24,330.70 63.80 86.50 6.47 5.22 9.37 24.30 3.98 114.50 5.84 230.20 196.60 97.20 44.05 6.37 18.78 81.35 3.78 32.40 158.70 15.50 78.45 20.80 67.60 22.85 67.30 5.11 48.55 6.17 4.06 10.66 32.55 6.79 43.65 13.92 17.90 9.67 22.05 22.65 14.28 3.83 11.42 11.16 8.43 3.12 2.38 49.85 36.50 42.80 63.35 85.80 6.37 5.15 9.32 23.95 3.93 113.40 5.74 226.60 194.20 95.95 43.60 6.29 18.48 80.70 3.70 32.05 157.60 15.42 77.55 19.58 66.70 22.45 66.90 5.03 48.10 6.07 4.00 10.44 32.30 6.64 43.15 13.66 17.48 9.60 21.35 21.85 14.00 3.74 11.26 11.04 8.18 3.06 2.36 49.20 35.80 42.05 RSI Bollinger Bands Low 23,311.57 62.50 82.17 6.05 4.88 8.76 22.95 3.75 111.70 5.65 203.37 188.46 95.08 40.52 5.72 14.47 77.02 3.47 30.65 156.11 14.75 76.70 19.33 60.71 22.45 66.50 5.02 43.79 5.96 3.84 9.02 31.52 6.51 40.89 12.96 17.24 9.61 20.20 21.04 13.88 3.66 10.89 10.83 8.29 3.02 2.30 48.41 32.65 36.85 Mid stsoo@ta.com.my Upper 14d 24,024.62 24,737.67 61.43 63.41 86.19 6.30 5.08 9.07 24.08 3.89 113.75 5.80 218.28 194.32 96.48 42.57 6.03 17.09 79.53 3.67 31.64 158.63 15.15 78.77 20.20 66.37 24.02 67.84 5.23 46.50 6.09 4.02 9.88 32.03 6.87 42.31 13.55 17.82 9.88 21.62 21.70 14.37 3.96 11.39 11.13 8.52 3.15 2.40 49.50 34.53 39.92 64.31 90.20 6.56 5.28 9.37 25.20 4.03 115.79 5.95 233.19 200.17 97.88 44.62 6.33 19.72 82.03 3.88 32.62 161.14 15.56 80.83 21.07 72.03 25.58 69.17 5.44 49.21 6.22 4.19 10.75 32.55 7.22 43.73 14.14 18.40 10.15 23.04 22.36 14.86 4.27 11.90 11.44 8.74 3.29 2.49 50.59 36.41 42.98 47.78 48.96 57.68 58.12 56.77 51.14 54.87 57.21 41.26 69.42 49.02 53.99 64.81 68.76 66.58 69.46 59.54 61.37 47.29 69.79 45.12 66.13 63.54 34.58 38.67 45.02 73.34 50.62 50.05 74.49 51.62 50.59 71.96 63.12 50.21 45.98 50.28 62.81 46.30 43.06 51.28 45.19 48.03 51.46 48.44 55.67 68.39 77.73 Moving Averages 10d 24,363.13 63.44 87.69 6.41 5.17 9.14 24.48 3.94 114.61 5.81 225.20 196.82 97.01 43.55 6.14 18.20 80.41 3.76 32.06 158.69 15.31 77.92 20.56 68.33 23.95 67.50 5.20 47.68 6.13 4.06 10.29 32.18 6.74 42.95 13.76 18.00 9.81 22.19 21.97 14.45 3.88 11.19 11.23 8.57 3.11 2.39 49.83 35.34 41.29 30d www.taonline.com.my DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 24,015.61 23,725.64 33.30 19.10 29.68 14.19 202.94 195.09 7.844 BUY BUY - - 64.03 86.35 6.33 5.09 9.17 24.12 3.92 113.22 5.88 215.99 195.62 95.68 42.40 6.05 16.86 79.03 3.61 31.52 159.74 15.09 79.34 20.05 64.68 24.00 68.46 5.26 45.93 6.14 4.07 9.72 32.35 6.80 41.89 13.39 17.79 9.86 21.51 21.69 14.34 4.01 11.36 11.23 8.52 3.10 2.38 49.33 33.80 38.87 64.79 86.79 6.14 4.97 9.39 23.43 3.79 110.82 5.99 210.67 193.39 94.15 41.71 6.09 16.59 78.00 3.52 31.23 159.02 14.92 79.10 19.65 62.01 23.68 68.84 5.13 44.82 6.00 4.05 9.51 32.53 6.50 40.96 13.16 17.06 9.54 20.83 21.45 14.01 3.99 11.10 11.34 8.31 2.91 2.36 48.61 33.73 37.57 25.75 22.68 15.92 18.87 19.97 22.61 18.80 17.01 22.29 15.16 20.21 17.40 9.60 13.06 15.85 11.28 12.77 15.05 19.04 8.27 15.24 21.55 16.64 32.51 20.49 26.15 10.38 20.95 24.12 9.13 14.91 19.16 8.45 11.94 19.19 23.41 22.92 11.80 20.19 23.28 20.23 21.52 21.11 13.71 23.23 20.79 14.63 6.36 10.93 23.53 22.21 24.89 23.51 24.27 25.32 31.59 17.88 26.31 17.25 26.71 38.31 20.35 32.01 38.80 22.81 19.41 14.68 32.01 12.13 30.80 42.78 26.71 19.62 23.81 40.07 11.76 11.91 42.40 13.77 27.92 55.58 33.64 21.49 23.87 24.91 13.53 23.39 16.47 21.21 20.02 22.06 35.33 35.67 26.44 31.39 44.16 2.31 (1.04) 11.22 12.66 9.48 3.25 11.61 6.02 (2.60) 22.01 0.99 2.49 21.37 21.15 23.70 20.24 12.09 9.00 (1.74) 18.59 0.93 (1.51) 12.78 (16.19) (7.28) (7.78) 17.98 0.52 1.09 29.38 5.35 5.00 25.62 16.39 3.70 (7.18) 2.16 10.31 (1.46) (1.06) 0.99 (3.13) (2.25) 3.41 12.05 6.02 19.54 26.66 -0.38 0.27 0.07 0.05 -0.04 0.19 0.03 1.03 -0.05 5.08 0.62 0.80 0.63 0.06 0.66 0.90 0.07 0.33 -0.25 0.16 -0.43 0.34 1.93 -0.17 -0.50 -0.02 1.07 0.02 -0.01 0.29 -0.07 0.02 0.67 0.22 0.20 0.03 0.34 0.22 0.08 -0.07 0.00 -0.06 0.05 0.04 0.00 0.35 0.67 1.40 0.042 0.017 (0.007) (0.002) 0.063 (0.102) (0.010) (0.204) 0.004 0.460 (0.122) (0.150) 0.095 0.044 0.172 0.161 (0.003) 0.016 (0.213) 0.034 (0.096) 0.009 (0.252) (0.281) (0.071) (0.038) 0.145 (0.012) (0.002) 0.060 0.063 (0.053) 0.043 0.018 (0.072) (0.062) (0.078) 0.049 (0.076) (0.035) (0.041) (0.003) (0.028) (0.029) (0.010) (0.075) 0.148 0.198 BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL SELL BUY SELL SELL BUY BUY BUY BUY BUY BUY BUY SELL SELL BUY SELL SELL SELL BUY BUY SELL SELL BUY BUY BUY BUY SELL BUY SELL BUY SELL BUY SELL SELL SELL SELL BUY SELL SELL BUY BUY SELL BUY BUY SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL BUY BUY BUY SELL SELL BUY BUY BUY SELL - SELL - 28.06 21.65 27.14 31.53 29.45 25.86 30.41 23.04 19.69 37.17 21.21 19.89 30.97 34.21 39.56 31.52 24.86 24.04 17.29 26.87 16.17 20.04 29.42 16.32 13.21 18.36 28.36 21.47 25.21 38.52 20.25 24.16 34.07 28.33 22.88 16.23 25.09 22.10 18.73 22.23 21.22 18.38 18.85 17.13 35.28 26.81 34.17 33.02 -0.42 0.25 0.07 0.06 -0.10 0.29 0.04 1.24 -0.06 4.62 0.74 0.95 0.54 0.02 0.49 0.74 0.07 0.31 -0.03 0.13 -0.34 0.33 2.18 0.11 -0.43 0.02 0.92 0.03 0.00 0.23 -0.13 0.07 0.63 0.20 0.27 0.09 0.42 0.17 0.15 -0.03 0.04 -0.05 0.08 0.07 0.01 0.43 0.53 1.20 The table above consists of the 45 HKSE Hang Seng Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last 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. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
23. TA Securities A Member of the TA Group 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 5 941 939 1398 883 2628 3988 16 857 700 388 1 2318 386 1088 2 494 2388 11 3 19 101 4 688 6 1880 12 3328 1898 762 23 330 66 83 291 17 1109 144 836 2600 293 267 1199 2038 678 1299 1928 27 HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK EPS ($) PER(x) Div Yield(%) 52week Price % Chg Stock Name Close Target Price % upside 2017 2018 2017 2018 2017 2018 High Low YTD HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 63.55 63.37 0% 0.6 0.7 13.7 12.5 0.8 0.8 69.10 44.50 2.09 86.40 107.01 19% 5.6 6.1 13.6 12.6 3.0 3.3 99.30 80.30 5.11 6.41 7.41 14% 0.9 0.9 6.2 6.1 4.3 4.3 6.55 4.50 7.37 5.17 6.10 15% 0.8 0.8 5.9 5.9 4.4 4.5 5.27 3.82 11.18 9.34 11.10 0.8 N/A 10.7 3.6 10.88 8.46 24.05 28.09 14% 0.9 1.1 23.0 19.0 1.3 1.4 25.50 16.00 19.06 3.93 4.46 12% 16% 0.6 0.6 0.6 6.1 6.0 4.4 3.4 4.4 4.08 2.90 14.24 -3.71 114.10 123.30 85.40 16.43 129.67 12% 8.8 9.5 13.0 12.0 3.5 3.6 5.75 7.15 20% 0.0 0.3 104.1 17.6 0.7 2.3 6.38 4.76 -0.52 228.00 256.94 11% 6.2 7.8 32.7 26.0 0.3 0.4 230.20 152.20 20.19 194.60 193.21 -1% 5.7 6.3 34.4 31.0 2.6 2.9 213.20 175.00 6.22 96.35 113.73 15% 9.2 10.0 10.5 9.6 3.0 3.2 103.90 80.60 9.61 43.80 44.95 56.15 22% 3.6 4.0 10.7 9.6 1.6 1.7 32.50 12.89 6.35 7.30 13% 0.4 0.5 12.8 11.2 4.0 4.5 6.37 4.66 15.45 18.52 19.00 3% 1.5 1.5 10.7 11.1 3.0 3.1 19.78 11.40 26.85 81.35 79.08 -3% 5.0 5.2 16.2 15.7 3.5 3.6 84.35 68.75 14.18 3.34 -12% 0.0 0.0 13.4 12.7 0.8 0.9 3.24 9.68 32.20 34.47 7% 2.2 2.5 14.5 12.8 5.5 4.0 32.55 21.01 16.04 158.00 3.74 154.98 -2% 9.3 10.2 17.0 15.5 4.0 4.2 164.40 127.60 9.49 15.50 12.85 -21% 0.6 0.6 26.0 24.9 2.4 2.6 15.50 12.75 12.81 78.10 78.15 0% 4.8 5.1 16.2 15.2 3.4 3.7 94.40 72.20 5.47 20.75 19.66 -6% 1.2 1.1 17.3 19.1 3.6 3.6 20.95 13.64 26.22 67.60 65.70 -3% 4.7 4.8 14.5 14.0 3.2 3.4 69.95 39.00 31.13 22.55 28.85 22% 3.2 3.6 7.0 6.2 3.7 4.3 27.85 20.15 9.73 67.15 74.22 10% 3.4 3.5 19.6 19.0 4.1 4.2 75.73 62.78 5.09 5.10 4.92 -4% 0.4 0.4 11.3 11.3 4.8 4.8 5.79 4.07 16.97 48.30 48.82 1% 3.3 3.2 15.0 3.2 3.2 49.30 39.64 17.09 6.09 5.95 -2% 0.9 0.9 6.1 5.8 4.3 4.5 6.44 4.46 8.56 4.04 4.52 11% 0.3 0.3 13.2 13.7 1.9 1.7 4.88 2.92 9.78 10.50 11.74 11% 0.2 0.4 39.8 22.7 0.8 1.4 10.76 7.70 16.28 32.35 15.6 18.3 2.9 2.5 34.75 14.7 5.15 25.72 -26% 2.1 1.8 26.35 8.92 6.74 5.89 -15% 0.0 0.2 N/A 41.9 0.0 1.1 7.62 5.34 10.67 43.55 39.12 -11% 1.6 1.6 27.6 26.8 7.6 2.6 44.50 35.02 15.52 13.86 13.64 -2% 0.8 0.8 16.5 16.7 3.7 3.7 14.48 10.96 19.28 17.68 18.95 7% 0.6 0.7 27.9 24.1 1.1 1.2 18.90 12.85 14.81 9.66 11.22 14% 0.8 0.8 12.5 11.8 4.5 4.6 10.46 6.91 17.80 21.55 28.19 24% 2.8 3.2 7.8 6.7 3.7 4.3 23.85 16.50 23.57 22.30 23.35 5% 1.6 1.7 14.0 13.0 3.3 3.6 24.95 18.80 15.90 14.10 14.78 5% 1.4 1.5 10.0 9.4 5.9 6.1 15.50 10.70 14.45 0.2 0.4 4.43 15% 0.2 0.2 16.9 15.6 2.25 17.81 11.30 9.97 -13% -0.1 0.2 N/A 47.9 0.5 0.7 13.50 10.00 10.78 11.08 3.77 12.35 10% 1.6 1.7 7.1 6.6 3.0 3.9 12.78 10.54 -0.18 8.43 9.07 7% 0.1 0.1 13.6 12.5 0.4 0.4 9.48 7.28 8.22 3.08 3.15 2% 0.0 0.0 19.8 17.2 0.4 0.4 3.38 2.31 25.71 0.0 0.0 N/A N/A 0.0 0.0 4.45 2.37 2.45 3% 2.00 4.87 49.80 56.69 12% 0.4 0.4 17.5 15.7 0.2 0.3 54.15 41.70 13.83 36.15 37.85 4% 0.2 0.2 23.7 21.5 0.7 0.7 39.30 3.00 24.60 7.27 42.75 42.75 0% 1.6 1.7 26.7 24.7 1.1 1.3 42.80 21.73 27.27 Note : The above data based on Bloomberg consensus. 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
24. T e c h n i c a l TA Securities V i e w Thursday , March 30, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 • Foreign Technical Stock Watch FSSTI: 3,184.57 (+26.75, +0.85%) Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Name FSSTI SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI YZJ Tel: +603-2167 9607 Close Bollinger Bands RSI Change High Low 29-Mar Lower Mid Upper 14d 3,184.57 26.75 3,188.02 3,166.21 3,105.74 3,142.53 3,179.33 62.87 3.93 19.29 9.72 22.00 66.11 3.58 7.65 3.68 1.02 6.97 7.77 10.19 2.34 0.19 10.35 43.63 3.60 44.87 0.38 3.74 1.90 1.97 3.17 1.87 2.60 2.91 3.69 0.52 1.14 0.01 0.27 0.10 0.13 (0.34) 0.06 0.37 0.02 0.01 0.11 0.06 0.07 0.01 0.00 0.02 1.42 0.03 0.58 0.00 0.01 0.01 0.01 0.02 0.00 0.04 0.01 0.01 0.00 0.01 3.95 19.34 9.73 22.08 66.49 3.59 7.65 3.70 1.03 6.97 7.77 10.20 2.37 0.20 10.38 43.78 3.60 45.23 0.39 3.75 1.92 1.98 3.18 1.89 2.61 2.91 3.70 0.53 1.16 3.91 19.05 9.64 21.85 65.95 3.53 7.30 3.66 1.01 6.87 7.71 10.11 2.34 0.19 10.31 41.85 3.56 44.31 0.38 3.70 1.88 1.96 3.14 1.86 2.57 2.88 3.66 0.52 1.12 3.87 18.65 9.43 21.31 64.68 3.49 6.77 3.55 0.97 6.55 7.38 9.86 1.95 0.18 9.46 37.98 3.43 43.23 0.37 3.60 1.83 1.92 3.08 1.79 2.47 2.82 3.65 0.51 1.06 3.93 19.01 9.57 21.66 65.83 3.58 7.13 3.66 0.99 6.88 7.55 10.00 2.15 0.20 10.15 40.15 3.52 44.45 0.38 3.67 1.93 1.94 3.20 1.91 2.52 2.87 3.69 0.52 1.12 4.00 19.37 9.72 22.01 66.98 3.68 7.49 3.77 1.02 7.21 7.73 10.13 2.35 0.23 10.85 42.31 3.61 45.66 0.39 3.74 2.02 1.96 3.32 2.03 2.57 2.92 3.73 0.54 1.18 50.60 61.04 61.44 63.68 56.30 45.51 77.51 56.77 60.96 59.72 65.35 65.12 74.04 44.24 59.89 74.32 64.32 57.01 42.89 62.00 39.77 57.65 48.81 56.87 66.11 56.32 55.73 44.81 63.23 stsoo@ta.com.my Moving Averages 10d 30d 50d DI + 3,151.45 3,131.69 3,100.85 36.73 DI 22.85 ADX 22.13 Diff 13.88 MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 16.38 17.57 (1.193) BUY SELL BUY - 3.93 18.94 9.60 21.79 66.10 3.56 7.28 3.69 1.00 6.83 7.61 10.04 2.22 0.19 10.39 40.65 3.56 44.84 0.38 3.69 1.89 1.95 3.17 1.87 2.53 2.87 3.68 0.53 1.12 18.70 25.66 18.63 14.92 19.26 25.34 9.61 18.81 12.98 23.52 17.19 14.13 8.59 25.26 14.50 11.13 11.62 22.00 19.13 15.38 23.03 11.36 22.22 19.34 16.41 19.60 11.17 19.86 13.65 14.90 15.45 11.55 25.79 23.17 27.35 35.35 30.55 18.79 23.98 14.53 13.35 29.73 22.82 41.29 32.28 31.92 11.23 25.58 23.48 34.77 13.18 18.55 35.25 12.77 10.29 27.31 11.23 42.76 0.70 8.45 9.29 16.91 2.44 (5.06) 30.87 5.70 10.96 12.57 14.96 9.59 39.20 (7.03) 18.15 28.66 16.90 5.39 (5.84) 14.02 (8.23) 7.32 2.28 14.31 10.91 0.75 2.95 (0.47) 18.48 0.00 0.05 0.03 0.16 0.72 -0.05 0.14 0.04 0.01 0.05 0.04 0.05 0.06 -0.01 0.23 0.94 0.02 0.55 -0.01 0.04 -0.04 0.00 -0.01 0.04 0.02 0.01 0.01 0.00 0.04 3.94 18.90 9.56 21.59 65.04 3.64 7.03 3.63 0.99 6.85 7.56 9.96 2.14 0.21 9.90 39.50 3.51 43.58 0.39 3.66 1.98 1.95 3.21 1.83 2.49 2.86 3.68 0.53 1.06 3.91 18.82 9.52 21.28 63.78 3.75 6.94 3.51 0.98 6.62 7.55 9.94 2.13 0.20 9.64 38.78 3.50 42.85 0.40 3.54 1.99 1.95 3.19 1.70 2.47 2.89 3.63 0.54 0.97 19.40 34.11 27.92 31.83 21.70 20.28 40.48 24.51 23.94 36.09 32.15 23.73 47.80 18.23 32.65 39.79 28.51 27.38 13.29 29.40 14.81 18.68 24.50 33.65 27.32 20.36 14.11 19.39 32.12 DMI www.taonline.com.my 0.01 0.07 0.03 0.16 0.83 -0.06 0.11 0.06 0.01 0.06 0.02 0.04 0.03 0.00 0.26 0.66 0.01 0.64 -0.01 0.04 -0.04 0.00 0.00 0.06 0.01 0.00 0.02 0.00 0.05 (0.007) (0.012) 0.004 0.004 (0.108) 0.003 0.030 (0.014) 0.001 (0.013) 0.017 0.016 0.028 (0.002) (0.027) 0.285 0.008 (0.093) 0.001 (0.005) (0.002) 0.004 (0.009) (0.019) 0.005 0.005 (0.007) (0.000) (0.007) BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY BUY SELL BUY BUY SELL BUY SELL BUY BUY BUY SELL SELL BUY BUY SELL BUY SELL SELL BUY SELL SELL BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY - BUY BUY BUY BUY SELL - The table above consists of the revamped 30 SGX FTSE Straits Times Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last 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. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
25. 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 ST DBS OCBC UOB JM WIL HKL CAPL GENS KEP SGX SIA FNN NOBL CIT JS SPH JCNC GGR STE OLAM CT SCI SMM CD STH SIE IFAR SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP Stock Name Close Target Price SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI 3.93 4.25 19.29 9.72 YZJSGD SP YZJ % upside EPS ($) PER(x) Div Yield(%) % Chg 52week Price 2017 2018 2017 2018 2017 2018 High Low YTD 8% 0.2 0.3 16.2 15.2 4.5 4.7 4.36 3.59 7.67 19.44 1% 1.789 1.963 10.8 9.8 3.2 3.3 19.37 14.63 11.25 9.57 -2% 0.9 0.9 11.3 10.4 3.8 4.0 9.78 8.21 8.97 22.00 21.18 -4% 1.9 2.1 11.4 10.6 3.3 3.4 22.08 17.41 7.84 66.11 63.99 -0.03 4.1 4.4 16.3 15.2 2.4 2.5 67.27 52.42 19.66 3.58 3.80 6% 0.2 0.2 12.8 11.9 2.0 2.2 4.00 2.96 -0.28 7.65 7.38 -4% 0.4 0.4 19.5 18.8 2.5 2.6 7.65 5.77 20.85 3.68 4.02 9% 0.2 0.2 17.7 18.5 2.7 2.8 3.79 2.85 21.85 1.02 1.06 4% 0.0 0.0 29.1 26.2 2.8 2.9 1.04 0.69 12.71 6.97 6.89 -1% 0.5 0.5 13.7 12.7 3.1 3.3 7.23 5.10 20.38 8.52 7.77 7.89 2% 0.3 0.4 23.3 21.5 3.8 4.1 8.05 6.96 10.19 9.71 -5% 0.4 0.4 22.8 23.4 3.4 2.7 11.67 9.60 5.38 2.34 2.19 -7% 0.1 0.1 30.4 30.8 1.8 1.9 2.41 1.92 11.96 0.19 0.22 0.12 0.0 0.0 9.3 6.3 0.0 0.0 0.36 0.11 14.12 10.35 10.74 4% 0.6 0.7 16.0 15.0 1.4 1.4 10.65 7.74 25.00 43.63 40.36 -8% 2.7 2.9 16.0 14.9 0.7 0.8 43.78 27.35 31.42 3.60 3.19 -13% 0.2 0.2 23.5 23.5 4.7 4.6 4.13 3.45 1.98 44.87 49.97 10% 2.1 2.3 15.0 13.7 1.8 2.0 46.23 31.60 8.83 0.38 0.39 2% 0.0 0.0 17.0 14.3 1.8 1.8 0.45 0.33 -11.63 3.74 3.62 -3% 0.2 0.2 21.6 20.7 4.1 4.3 3.77 3.01 15.79 1.90 1.99 5% 0.1 0.1 14.3 14.3 2.4 2.4 2.17 1.58 -3.55 1.97 2.13 8% 0.1 0.1 17.2 16.8 5.6 5.6 2.25 1.87 4.24 3.17 3.52 10% 0.2 0.3 13.2 11.0 2.9 3.3 3.38 2.44 11.23 1.87 1.65 -13% 0.1 0.1 35.9 26.6 1.4 1.7 2.09 1.22 35.14 2.60 2.94 12% 0.2 0.2 16.6 16.0 4.2 4.6 3.02 2.37 5.26 2.91 2.64 -10% 0.2 0.2 18.1 18.9 5.5 5.4 3.97 2.73 3.56 3.69 3.55 -4% 0.2 0.2 24.0 23.8 4.1 4.0 3.91 3.35 9.50 0.52 0.58 10% 436 583 11.4 8.5 12418 18132 0.63 0.44 -0.95 1.14 1.07 -6% 0.5 0.5 11.5 12.1 17.2 17.2 1.19 0.71 39.26 Note : The above data based on Bloomberg consensus. 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. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2