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Today's Highlights (Affin Hwang)

Mohd Noordin
By Mohd Noordin
5 years ago
Today's Highlights (Affin Hwang)

Amanah, Ard, Mal, Commenda, Reserves

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  1. 7 September 2016 Today ’s Highlights Bursa Malaysia Strategy – KLCI (POSITIVE, maintain) Mkt Cap (RMbn) KLCI 52-wk range 1862.80 - 1532.14 1,705.35 - Waiting for the tide to turn Vol (m shrs) 1,733.30 Value (RMm) 1,570.06 Economy – Foreign Reserves KLCI futures (spot) 1,688.50 KLCI futures (1-mth) 1,685.00 - Reserves stood at US$97.5bn as at end-August KLCI Index (12-mth) Quick bites 1900 CIMB: Vietnam banking operating licence granted by the State Bank of Vietnam 1800 1700 1600 Hedge funds ignore Wall Street wisdom buying up S&P 500 futures Top 5 Gainers US services industries expand at weakest pace in six years BAT Price (RM) Euro region growth bolstered by exports as investment stalls Schaeuble says German budget means stability in uncertain times chg (RM) Aug‐16 May‐16 Feb‐16 Outside Malaysia Nov‐15 1500 Aug‐15 Tenaga: Signed 21-year PPA for Project 4A with SIPP % chg 51.12 1.40 LAFMSIA 8.27 0.35 2.8 4.4 UTDPLT 27.78 0.28 1.0 PANAMY 37.02 0.28 0.8 NESTLE 79.52 0.22 0.3 Top 5 Losers German factory orders undershoot forecast as momentum cools Australia keeps key rate at record low in Stevens’s swansong chg (RM) % chg F&N Price (RM) 24.52 (0.36) (1.45) MSM 4.82 (0.21) (4.17) 14.34 (0.18) (1.24) HLIND 9.33 (0.17) (1.79) DKSH 5.56 (0.15) (2.63) chg (RM) Val (RMm) AJI China plans stronger fiscal policy, more infrastructure spending Brent oil declines as Saudi-Russia deal falls short of a freeze Top 5 Value Traded Price (RM) TENAGA 14.68 unch 147.67 PBBANK 19.90 0.06 84.21 AIRASIA 2.86 (0.02) 44.69 TM 6.89 0.04 43.57 SIME 7.88 0.06 41.82 Close % chg Key Equity Indices KLCI 0.7 (0.2) 18538.1 0.2 6.4 Nasdaq 5275.9 0.5 5.4 FTSE100 6826.1 (0.8) 9.4 Dow Jones Other Markets Key Indicators East. Europe COMMODITIES CURRENCIES Latest CPO (RM/Tonne) Spot (Jan) 3-mth futures (Mar) Brent Crude Oil (US$/brl) Spot 1-mth futures Gold (US$/oz) Spot 1-mth futures chg (%) 2,880.0 2,629.0 44.8 45.5 1349.4 1350.4 (0.3) (0.6) 0.9 0.9 2.1 2.1 Latest Ytd chg (%) RM/US$ 4.08 5.2 RM per 100 Yen 4.00 (10.7) RM/S$ 3.01 1.1 Yen/US$ 102.03 17.8 Eur/US$ 0.89 (3.5) RM/AUD 3.12 0.7 MALAYSIA INTEREST RATES Latest Ytd chg (bps) OPR (%) 3.00 (25.0) 3-mth Klibor (%) 3.40 (44.0) Maybank BR (%) 3.00 *as at 1 July 2016 Ytd chg (%) 1689.9 Mexico 2698.7 (0.4) (5.2) 47627.0 (0.4) 10.8 Shenzen B 2048.2 1.5 (11.3) Shanghai B 3090.7 0.6 (12.7) Hong Kong 8.5 23787.7 0.6 Korea 2066.5 0.3 5.4 Singapore 2896.6 1.6 0.5 Indonesia 5372.1 0.3 17.0 Philippines 7719.2 (0.6) 11.0 Thailand 1496.9 0.3 16.2 Vietnam 663.9 (0.1) 14.7 28978.0 1.6 11.0 9181.9 1.0 10.1 India Taiwan Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 1 of 8
  2. 7 September 2016 Quick Bites CIMB : Vietnam banking operating licence granted by the State Bank of Vietnam The Group announced that CIMB Bank Berhad had received the Operating License from the State Bank of Vietnam to establish and operate a 100%owned subsidiary in Vietnam. This follows the receipt of the Approval-inPrinciple obtained since last Aug15. With this approval, CIMB will embark on its plans to set up its Vietnamese operations, with its first branch in Hanoi (expected to be fully operational end-2016) by offering a comprehensive range of corporate, commercial and consumer products and services. (Source: Bursa Malaysia) Comments: With the first banking operations in Vietnam, CIMB Group would be able to tap on the robust loan growth market in Vietnam (2015: 25% yoy). Nonetheless, the operating risks such as asset quality remains the biggest risk in Vietnam, though credit risks are mitigated by the country’s rising GDP growth (6% in 2014-2015) which is supported by a recovery in domestic demand and resilient exports, while inflation remains benign. Meanwhile, we believe that contribution to the CIMB Group would remain marginal in the initial years of operations. Maintain BUY on CIMB with a Price Target of RM5.30 based on 1.0x 2017 P/BV multiple, with ROE assumption at 9.4% and cost of equity at 9.4%. Tenaga: Signed 21-year PPA for Project 4A with SIPP Tenaga Nasional Bhd (TNB) announced yesterday it had signed a 21-year power purchase agreement (PPA) with Southern Power Generation Sdn Bhd for a planned 1,440MW gas-fired combined-cycle power plant in Pasir Gudang, Johor, which is also known as Project 4A. SIPP Energy Sdn Bhd, the sole owner of Southern Power was previously linked to the Sultan of Johor. In terms of cost, Project 4A is said to require RM6bn or more to develop. (Source: Bursa, Financial Daily) Comments: We are neutral on this development. While TNB would be required to pay more for capacity payments and energy payments going forward, these costs are provided for under the imbalance cost pass through mechanism and thus would not affect TNB’s earnings. We maintain our BUY rating on TNB with an unchanged DCF-derived (WACC: 8.1%, LT growth: 3.0%) 12-month TP of RM16.50. Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 2 of 8
  3. 7 September 2016 Outside Malaysia Hedge funds ignore Wall Street wisdom buying up S &P 500 futures Warnings embedded in strategist price targets and historically low US stock volatility are doing nothing to dissuade hedge funds. The S&P 500 Index added 0.3% to 2,186.48. The Dow Jones Industrial Average rose 46.16 points (0.3%) 18,538.12. US services industries expand at weakest pace in six years America’s service industries expanded in August at the weakest pace in six years, joining manufacturers in an abrupt slowdown that may signal waning optimism about the economy. The Institute for Supply Management’s non-manufacturing index slumped to 51.4, the lowest since February 2010, from 55.5 in July, the group’s report showed. Euro region growth bolstered by exports as investment stalls A surge in euro-area exports drove economic growth in 2Q16 as domestic spending slowed, according to data published by the European Union’s statistics office. Exports made biggest contribution to growth, adding 0.5 percentage point. Investment stalled while private and government consumption slowed. Gross domestic product increased 0.3% from previous quarter, when it rose 0.5%. This was in line with Aug. 12 estimate. Schaeuble says German budget means stability in uncertain times German Finance Minister Wolfgang Schaeuble presented his 2017 election-year budget as an anchor of stability in unsettling times, pledging to uphold fiscal restraint while saying Europe’s biggest economy is in its best shape ever. Germany will lower its national debt by 2020 to 60% of gross domestic product, the limit set by euro-area rules, he said. German factory orders undershoot forecast as momentum cools German factory orders increased less than forecast in July as domestic weakness damped a surge in investment-goods demand from the euro area. Orders, adjusted for seasonal swings and inflation, rose 0.2% from June, when they fell a revised 0.3%, data from the Economy Ministry showed. The median in a Bloomberg survey was for an increase of 0.5%. Australia keeps key rate at record low in Stevens’s swansong Australia’s central bank stood pat on interest rates as it awaits further inflation data and weighs the impact of two cuts in the last four months. In his final meeting, Reserve Bank of Australia Governor Glenn Stevens and his board left the cash rate at 1.5%, as forecast by economists surveyed. China plans stronger fiscal policy, more infrastructure spending China is planning stronger fiscal policy and more infrastructure investment to cement stabilization in China’s economy and cushion it from slowing global growth.  Restrictions on infrastructure spending will be eased and equal access granted to private investors in sectors such as education and medical care, according to a statement released on the State Council’s website.  Policy banks will be encouraged to increase credit support to investment projects, and state-owned enterprises are being asked to step up investment in rural grid and telecommunication projects. Brent oil declines as Saudi-Russia deal falls short of a freeze Brent oil fell after a pledge by Russia and Saudi Arabia to cooperate to stabilize the market failed to include any specific measures to support prices. Brent for November settlement fell US$0.37 to US$47.26 a barrel. Source: Bloomberg (Lim Yee Ping; 03-2146 7489; [email protected]) Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 3 of 8
  4. 7 September 2016 Market Summary Table 1 : Off Market transactions Price (RM) Vol (m) Val (RMm) Type* WELLCALL 2.00 4.00 8.00 D ATTAGLOBAL 0.34 3.41 1.14 D MACQ 0.19 3.40 0.65 D TECHNOCEX 0.16 2.54 0.41 D Shares SUPERMAX 2.25 1.70 3.83 D MEXTER 0.24 2.36 0.57 D Source: Bloomb erg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction SUNWAY 6-Sep 223,700 24,767,500 Shares BuyBack Date Units Transaction - - - Ex-Date Lodgement Payment TGUAN-LA Entitlement Loan Stock Interest 26-Sep 28-Sep 10-Oct AT RightIssue 20-Sep 22-Sep - * Only FBM100 Component Stocks Source : Bursa Malaysia Table 3: ESOS Company* * Only FBM100 Component Stocks Table 4: Entitlements Company Source : Bursa Malaysia Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 4 of 8
  5. 7 September 2016 Fig 5 : Shareholding change Substantial Shareholder EPF EPF Date Transaction Units Company 1-Sep-16 18,000 1-Sep-16 Acquired Acquired 1,161,700 AEON AMBANK ARMADA EPF 1-Sep-16 Disposed 1,446,900 Lembaga Tabung Haji 1-Sep-16 Acquired 15,000,000 BIMB EPF 1-Sep-16 Disposed 1,153,000 BJAUTO 1 to 2 Sep-16 Disposed 648,700 CMMT 1-Sep-16 Acquired 2,000,000 DIALOG Amanah Raya Trustees EPF EPF 1-Sep-16 Acquired 3,151,000 DIGI Amanah Raya Trustees 29 to 30-Aug-16 Disposed 61,700 DLADY Amanah Raya Trustees Amanah Raya Trustees 1-Sep-16 Disposed Disposed 1,500,000 GAMUDA 2-Sep-16 1,468,900 GAMUDA Acquired Disposed 592,000 1,532,600 HARTA HLBANK EPF EPF 30-Aug-16 1-Sep-16 EPF 1-Sep-16 Disposed 368,200 IGBREIT EPF EPF 1-Sep-16 803,900 1-Sep-16 Acquired Acquired IHH IJM 2,000,000 Lembaga Tabung Haji 1-Sep-16 Acquired 97,300 IJM EPF 1-Sep-16 Acquired 27,400 IJMPLNT EPF 1-Sep-16 Acquired 1,960,000 EPF EPF 1-Sep-16 950,000 INARI INARI 1-Sep-16 Disposed Acquired 2,304,700 IOICORP EPF 1-Sep-16 Disposed 2,000,000 IOIPG EPF 1-Sep-16 Acquired 567,000 KLK Amanah Raya Trustees 1 to 2 Sep-16 Disposed 900,000 KLK Lembaga Tabung Haji 1 to 2 Sep-16 Acquired 1,408,400 MAHSING Lembaga Tabung Haji 2-Sep-16 Acquired 526,200 MALAKOF EPF 1-Sep-16 Acquired 3,000,000 MAXIS 1 to 2 Sep-16 555,400 MMCCORP 5,000 NESTLE 9,600 NESTLE Lembaga Tabung Haji EPF 1-Sep-16 Acquired Acquired EPF 1-Sep-16 Disposed EPF 30-Aug-16 Disposed 5,200 PANAMY EPF 1-Sep-16 Disposed 1,489,000 PBBANK EPF 1-Sep-16 Acquired 1,407,100 PCHEM EPF 1-Sep-16 Acquired 477,700 PETGAS EPF EPF 1-Sep-16 Acquired Acquired 172,700 PPB SKPETRO EPF EPF 2-Sep-16 Acquired Acquired 1,000,000 1-Sep-16 513,900 SPSETIA SUNREIT Amanah Raya Trustees 2-Sep-16 Disposed 243,900 SUNREIT EPF 1-Sep-16 Disposed 500,000 SUNREIT EPF 30-Aug-16 Disposed 500,000 SUNREIT 1 to 2 Sep-16 Acquired 762,900 SUNWAY EPF 1-Sep-16 Acquired 100,000 TAKAFUL EPF 1-Sep-16 Acquired 110,200 TIMECOM Amanah Raya Trustees Amanah Raya Trustees 1-Sep-16 200,000 1 to 2 Sep-16 Acquired 4,245,000 TM EPF 1-Sep-16 Acquired 2,750,000 TM EPF 1-Sep-16 Acquired 200,000 TOPGLOV EPF 1-Sep-16 Disposed 140,100 UOADEV EPF 1-Sep-16 Disposed 5,277,700 YTL Source: Bursa Malaysia Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 5 of 8
  6. 7 September 2016 Fig 6 : Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge MBMR First Interim Dividend 1.00 23-Aug-16 8-Sep-16 13-Sep-16 Payment 6-Oct-16 OFI Interim Dividend 3.00 26-Aug-16 8-Sep-16 13-Sep-16 28-Sep-16 TCHONG First Interim Dividend 3.00 25-Aug-16 8-Sep-16 13-Sep-16 27-Sep-16 BSTEAD First Interim Dividend 1.00 26-Aug-16 9-Sep-16 14-Sep-16 28-Sep-16 DSONIC First Interim Dividend 2.00 22-Aug-16 9-Sep-16 14-Sep-16 28-Sep-16 EITA Interim Dividend 7.00 26-Aug-16 9-Sep-16 14-Sep-16 30-Sep-16 LBICAP Interim Dividend 2.50 29-Jul-16 9-Sep-16 14-Sep-16 30-Sep-16 LUKCHEM First Interim Dividend 2.50 25-Aug-16 9-Sep-16 14-Sep-16 29-Sep-16 PADINI Interim Dividend 1.80 26-Aug-16 9-Sep-16 14-Sep-16 28-Sep-16 RANHILL Interim Dividend 2.00 26-Aug-16 9-Sep-16 14-Sep-16 21-Sep-16 SCICOM Second Interim Dividend 4.00 24-Aug-16 9-Sep-16 14-Sep-16 30-Sep-16 TOMYPAK Interim Dividend 2.30 25-Aug-16 9-Sep-16 14-Sep-16 28-Sep-16 AHEALTH Income Distribution 3.90 23-Aug-16 13-Sep-16 15-Sep-16 13-Oct-16 ALAQAR Income Distribution 2.60 22-Aug-16 13-Sep-16 15-Sep-16 13-Oct-16 ALSREIT Interim Dividend 0.73 25-Aug-16 13-Sep-16 15-Sep-16 28-Sep-16 28-Sep-16 BTECH Interim Dividend 1.00 29-Aug-16 13-Sep-16 15-Sep-16 COASTAL Final Dividend 3.50 2-Jun-16 13-Sep-16 15-Sep-16 30-Sep-16 ELKDESA Interim Dividend 3.00 19-Aug-16 13-Sep-16 15-Sep-16 29-Sep-16 ELSOFT Final Dividend 2.00 23-Aug-16 13-Sep-16 15-Sep-16 28-Sep-16 HARTA Interim Dividend 0.50 30-Aug-16 13-Sep-16 15-Sep-16 11-Oct-16 HOVID Interim Dividend 2.20 24-Aug-16 13-Sep-16 15-Sep-16 6-Oct-16 INARI Interim Dividend 1.25 26-Aug-16 13-Sep-16 15-Sep-16 6-Oct-16 JCY Final Dividend 1.50 29-Jul-16 13-Sep-16 15-Sep-16 6-Oct-16 LTKM Second Interim Dividend 3.00 18-Aug-16 13-Sep-16 15-Sep-16 30-Sep-16 MAGNUM Interim Dividend 1.00 24-Aug-16 13-Sep-16 15-Sep-16 6-Oct-16 PESONA Interim Dividend 5.00 29-Aug-16 13-Sep-16 15-Sep-16 30-Sep-16 RHBBANK First Interim Dividend 0.60 22-Aug-16 13-Sep-16 15-Sep-16 30-Sep-16 SALUTICA Interim Dividend 13.30 30-Aug-16 13-Sep-16 15-Sep-16 30-Sep-16 WELLCAL Interim Dividend 5.50 17-Aug-16 13-Sep-16 15-Sep-16 30-Sep-16 GMUTUAL First Interim Dividend 1.00 18-Aug-16 14-Sep-16 19-Sep-16 10-Oct-16 HSL First Interim Dividend 1.00 24-Aug-16 14-Sep-16 19-Sep-16 30-Sep-16 N2N Interim Dividend 1.20 30-Aug-16 14-Sep-16 19-Sep-16 30-Sep-16 RESINTC Second Interim Dividend 1.50 22-Aug-16 14-Sep-16 19-Sep-16 10-Oct-16 TIMECOM Interim Dividend 1.00 29-Aug-16 14-Sep-16 19-Sep-16 13-Oct-16 MBL Firsr Interim Dividend PWROOT Special Dividend SAMCHEM 2.50 1-Sep-16 15-Sep-16 20-Sep-16 30-Sep-16 11.50 1-Sep-16 15-Sep-16 20-Sep-16 23-Sep-16 First Interim Dividend 2.00 30-Aug-16 15-Sep-16 20-Sep-16 5-Oct-16 SAPURA First Interim Dividend 2.50 1-Sep-16 15-Sep-16 20-Sep-16 29-Sep-16 SUNCON First Interim Dividend 9.30 30-Aug-16 15-Sep-16 20-Sep-16 7-Oct-16 TM First Interim Dividend 0.50 30-Aug-16 15-Sep-16 20-Sep-16 5-Oct-16 LITRAK First Interim Dividend 1.00 29-Aug-16 19-Sep-16 21-Sep-16 20-Oct-16 WASEONG Interim Dividend 1.00 1-Sep-16 19-Sep-16 21-Sep-16 28-Sep-16 HUPSENG Interim Dividend 2.00 30-Aug-16 20-Sep-16 22-Sep-16 22-Sep-16 IOIPG Interim Dividend 8.00 22-Aug-16 20-Sep-16 22-Sep-16 21-Oct-16 MAA Second Interim Dividend 0.03 5-Sep-16 20-Sep-16 22-Sep-16 10-Oct-16 SCGM First Interim Dividend 0.02 2-Sep-16 20-Sep-16 22-Sep-16 7-Oct-16 SEDANIA Final Dividend 0.02 5-Sep-16 20-Sep-16 22-Sep-16 19-Oct-16 BIPORT Second Interim Dividend 6.00 26-Aug-16 21-Sep-16 23-Sep-16 14-Oct-16 CARLSBG Interim Dividend 5.00 23-Aug-16 21-Sep-16 23-Sep-16 7-Oct-16 MATRIX Interim Dividend 3.25 25-Aug-16 21-Sep-16 23-Sep-16 6-Oct-16 ORNA Interim Dividend 3.00 29-Aug-16 21-Sep-16 23-Sep-16 13-Oct-16 Source: Bursa Malaysia Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 6 of 8
  7. 7 September 2016 Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment ESCERAM Interim Dividend 0.01 6-Sep-16 22-Sep-16 26-Sep-16 21-Oct-16 KHIND KPJ Interim Dividend 0.10 6-Sep-16 22-Sep-16 26-Sep-16 7-Oct-16 Interim Dividend 1.50 29-Aug-16 23-Sep-16 27-Sep-16 18-Oct-16 CAELY Final Dividend 1.00 25-Jul-16 26-Sep-16 28-Aug-16 18-Oct-16 TGUAN Interim Dividend 6.00 25-Aug-16 26-Sep-16 28-Sep-16 28-Oct-16 LAFMSIA Second Interim Dividend 2.00 30-Aug-16 27-Sep-16 29-Sep-16 27-Oct-16 GENM Interim Dividend 3.00 25-Aug-16 28-Sep-16 30-Sep-16 24-Oct-16 GENP Interim Dividend 2.00 25-Aug-16 28-Sep-16 30-Sep-16 20-Oct-16 L&G Final Dividend 2.00 28-Jul-16 28-Sep-16 30-Sep-16 26-Oct-16 MFCB Interim Dividend 2.00 29-Aug-16 28-Sep-16 30-Sep-16 14-Oct-16 NTPM Final Dividend 0.80 29-Aug-16 28-Sep-16 30-Sep-16 14-Oct-16 OPENSYS Second Interim Dividend 0.50 25-Aug-16 28-Sep-16 30-Sep-16 19-Oct-16 PANTECH First Interim Dividend 0.50 22-Jul-16 28-Sep-16 30-Sep-16 19-Oct-16 STAR First Interim Dividend 9.00 22-Aug-16 28-Sep-16 30-Sep-16 18-Oct-16 TIENWAH Interim Dividend 4.00 4-Aug-16 28-Sep-16 30-Sep-16 28-Oct-16 AJI First and Final Dividend 33.75 28-Jul-16 29-Sep-16 4-Oct-16 19-Oct-16 JASKITA First and Final Dividend 0.30 28-Jul-16 30-Sep-16 5-Oct-16 19-Oct-16 LBALUM First and Final Dividend 2.00 29-Aug-16 30-Sep-16 5-Oct-16 21-Oct-16 27-Oct-16 WEIDA First and Final Dividend 3.00 20-Jun-16 6-Oct-16 10-Oct-16 DRBHCOM Final Dividend 2.00 28-Jul-16 7-Oct-16 11-Oct-16 1-Nov-16 MAGNI Final Dividend 3.00 30-Aug-16 11-Oct-16 13-Oct-16 28-Oct-16 MAGNI Special Dividend 2.00 30-Aug-16 11-Oct-16 13-Oct-16 28-Oct-16 LBS Special Dividend 2.00 29-Aug-16 12-Oct-16 14-Oct-16 11-Nov-16 SOLID Final Dividend 1.00 26-Aug-16 12-Oct-16 14-Oct-16 27-Oct-16 TASCO Final Dividend 2.50 27-Jul-16 12-Oct-16 14-Oct-16 28-Oct-16 SBCCORP First and Final Dividend 0.46 28-Jul-16 13-Oct-16 17-Oct-16 3-Nov-16 CCMDBIO Interim Dividend 2.50 22-Aug-16 19-Oct-16 21-Oct-16 11-Nov-16 GTRONIC Special Dividend 7.00 29-Aug-16 20-Oct-16 24-Oct-16 3-Nov-16 GTRONIC Second Interim Dividend 2.00 29-Aug-16 20-Oct-16 24-Oct-16 3-Nov-16 SHANG Interim Dividend 3.00 23-Aug-16 24-Oct-16 26-Oct-16 17-Nov-16 CHINWEL Second Interim Dividend 4.50 25-Aug-16 26-Oct-16 28-Oct-16 18-Nov-16 KSENG Interim Dividend 4.00 30-Aug-16 26-Oct-16 28-Oct-16 23-Nov-16 KEINHIN First and Final Dividend 1.50 25-Aug-16 27-Oct-16 31-Oct-16 21-Nov-16 YTL Interim Dividend 9.50 25-Aug-16 27-Oct-16 31-Oct-16 15-Nov-16 YTLPOWR Interim Dividend 1.00 25-Aug-16 27-Oct-16 31-Oct-16 15-Nov-16 CCM Interim Dividend 2.50 26-Aug-16 28-Oct-16 1-Nov-16 18-Nov-16 FREIGHT Second Interim Dividend 3.50 24-Aug-16 28-Oct-16 1-Nov-16 22-Nov-16 CSCENIC First Interim Dividend 6.00 17-Aug-16 31-Oct-16 2-Nov-16 16-Nov-16 OKA Final Dividend 3.50 28-Jul-16 2-Nov-16 4-Nov-16 18-Nov-16 HAIO Final Dividend 11.00 29-Aug-16 9-Nov-16 11-Nov-16 23-Nov-16 GLOMAC Final Dividend 2.00 25-Aug-16 28-Nov-16 30-Nov-16 8-Dec-16 DAIMAN First and Final Dividend 5.00 24-Aug-16 7-Dec-16 9-Dec-16 30-Dec-16 APOLLO First and Final Dividend 30.00 28-Jun-16 8-Dec-16 13-Dec-16 9-Jan-17 Source: Bursa Malaysia Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 7 of 8
  8. 7 September 2016 Equity Rating Structure and Definitions BUY Total return is expected to exceed +10% over a 12-month period HOLD Total return is expected to be between -5% and +10% over a 12-month period SELL Total return is expected to be below -5% over a 12-month period NOT RATED Affin Hwang Investment Bank Berhad does not provide research coverage or rating for this company. Report is intended as information only and not as a recommendation The total expected return is defined as the percentage upside/downside to our target price plus the net dividend yield over the next 12 months. OVERWEIGHT Industry, as defined by the analyst’s coverage universe, is expected to outperform the KLCI benchmark over the next 12 months NEUTRAL Industry, as defined by the analyst’s coverage universe, is expected to perform inline with the KLCI benchmark over the next 12 months UNDERWEIGHT Industry, as defined by the analyst’s coverage universe is expected to under-perform the KLCI benchmark over the next 12 months This report is intended for information purposes only and has been prepared by Affin Hwang Investment Bank Berhad (14389-U) (formerly known as HwangDBS Investment Bank Berhad) (“the Company”) based on sources believed to be reliable. However, such sources have not been independently verified by the Company, and as such the Company does not give any guarantee, representation or warranty (express or implied) as to the adequacy, accuracy, reliability or completeness of the information and/or opinion provided or rendered in this report. Facts, information, views and/or opinion presented in this report have not been reviewed by, may not reflect information known to, and may present a differing view expressed by other business units within the Company, including investment banking personnel. Reports issued by the Company, are prepared in accordance with the Company’s policies for managing conflicts of interest arising as a result of publication and distribution of investment research reports. Under no circumstances shall the Company, its associates and/or any person related to it be liable in any manner whatsoever for any consequences (including but are not limited to any direct, indirect or consequential losses, loss of profit and damages) arising from the use of or reliance on the information and/or opinion provided or rendered in this report. Any opinions or estimates in this report are that of the Company, as of this date and subject to change without prior notice. Under no circumstances shall this report be construed as an offer to sell or a solicitation of an offer to buy any securities. The Company and/or any of its directors and/or employees may have an interest in the securities mentioned therein. The Company may also make investment decisions or take proprietary positions that are inconsistent with the recommendations or views in this report. Comments and recommendations stated here rely on the individual opinions of the ones providing these comments and recommendations. These opinions may not fit to your financial status, risk and return preferences and hence an independent evaluation is essential. Investors are advised to independently evaluate particular investments and strategies and to seek independent financial, legal and other advice on the information and/or opinion contained in this report before investing or participating in any of the securities or investment strategies or transactions discussed in this report. Third-party data providers make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of the data they provide and shall not have liability for any damages of any kind relating to such data. The Company’s research, or any portion thereof may not be reprinted, sold or redistributed without the consent of the Company. The Company, is a participant of the Capital Market Development Fund-Bursa Research Scheme, and will receive compensation for the participation. This report is printed and published by: Affin Hwang Investment Bank Berhad (14389-U) (formerly known as HwangDBS Investment Bank Berhad) A Participating Organisation of Bursa Malaysia Securities Bhd Chulan Tower Branch, 3rd Floor, Chulan Tower, No 3, Jalan Conlay, 50450 Kuala Lumpur. www.affinhwang.com Email : [email protected] Tel : + 603 2143 8668 Fax : + 603 2145 3005 Affin Hwang Investment Bank Bhd (14389-U) (Formerly known as HwangDBS Investment Bank Bhd) Page 8 of 8