Daily Bread | 17 June 2013

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(Member of Alliance Bank group) PP7766/03/2013 (032116)

17 June 2013 Focus of the day Glove: Impressive demand growth in 1QCY13 (Overweight)

The glove sector delivered mixed results in 1QCY13. Among 4 stocks under coverage, one beat estimates, two disappointed while another met expectations. Overall, demand growth was strong (+17.7% y-o-y) during the quarter, which we attribute to global influenza trend since Nov 2012. On the flip side, NR glove segment performed weaker than expected as nitrile glove migration wave continue to gain strength due to widening cost advantage. This led to Top Glove and Supermax missing consensus estimates. Going into 2H2013, we remain positive on the glove sector as we anticipate (1) soft and stable latex price, (2) strong USD against Ringgit, and (3) improving supply and demand dynamics. As such, we reiterate our OVERWEIGHT call on the sector with Hartalega (Buy, TP: RM6.80) and Kossan (Buy, TP: RM4.85) being our top picks. (refer to report for details)

Malaysian news highlights Sime Darby: Eyes plantation land in South America, Africa IOI Corporation: IOI Properties expects at least RM2.5bn revenue annually Felda Global Ventures Holdings: Ready for M&As with RM6.2bn cash pile UEM Sunrise: Rebrands, eyes REIT Genting Malaysia: Sees Bahamas as gateway to Miami AirAsia: Ratan Tata to be chief advisor of AirAsia India MMC Corporation: Appoints Che Khalib as Group MD Malaysian Resources Corporation: PKNS wants out of MRCB-Gapurna deal DRB-Hicom: Lotus all geared up to race ahead after 'clean-up' DRB-Hicom: Gives bigger discounts on Saga SV for bigger market share KPJ Healthcare: Eyeing Terengganu and Melaka next WCT: Seeks RM30m from Oman over cancelled job Kossan Rubber Industries: To invest RM100m in 3 new plants Naim Holdings, Dayang Enterprise: May divest part of Dayang stake to unlock value Mah Sing Group: Denies buying land in Bukit Kiara Park Starhill REIT: Plans to raise up to RM800m Sona Petroleum: To spend RM495m on buying assets Ranhill Energy and Resources: RM1bn IPO likely on June 28 Protasco: Going back to Libya, seeking compensation from Libyan Govt

Global news highlights US: Consumer sentiment slips in June US: Wholesale prices rise more than forecast on fuel, food US: Industrial output flat in May US: Current account widens in 1Q 2013 US: Foreigners flee from government bonds in April Global: FX rates said to face global regulation in Libor review

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Daily Bread | 17 June 2013

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MALAYSIAN NEWS Sime Darby: Eyes plantation land in South America, Africa Sime Darby is keen to scout for plantation land in South America and Africa as part of plan to expand its oil palm business, said its executive VP for group strategic and business development, Alan Hamzah. The conglomerate has always been on the lookout for more plantation land, he said. He added that South America and Africa are on its radar but added that there is nothing firm that can be disclosed as yet. (Business Times) IOI Corporation: IOI Properties expects at least RM2.5bn revenue annually IOI Corporation group executive chairman Tan Sri Lee Shin Cheng expects IOI Properties to register revenue of at least RM2.5bn annually for the next 3 years. “IOI Properties has various projects in its line-up set to be launched in strategic locations such as Iskandar Malaysia, the Klang Valley, Singapore and Xiamen in China,” he told reporters. He added that the company was looking at about 35% to 40% turnover contribution from its overseas property business. On another note, Tan Sri Lee Shin Cheng also shot down rumours that IOI Corporation is in talks to buy Achi Jaya Plantations Sdn Bhd's 12,074ha oil palm plantation in Labis, Johor, for RM900m. (StarBiz, Business Times) Felda Global Ventures Holdings: Ready for M&As with RM6.2bn cash pile Felda Global Ventures Holdings (FGVH) is targeting to announce several mergers and acquisitions (M&As) later this year which will be financed with its RM6.2bn cash pile, according to its CEO designate, Dr Mohammed Emir Abdullah. “We are reviewing several M&As right now and we are very serious about it,” he told StarBizWeek. He said the group would, however, need to be careful as the M&As involved oil palm plantations which were considered a long-term investment. (StarBiz) UEM Sunrise: Rebrands, eyes REIT UEM Sunrise is the new brand identity and company name replacing UEM Land Holdings. Its MD and CEO, Datuk Wan Abdullah Wan Ibrahim said that although the group was making inroads into overseas markets in India, Indonesia and Australia, their mainstay was the local business. “We will look into having our real estate investment trust. We will pursue, but not in the immediate future. It’s in the pipeline,” he said. (StarBiz) Genting Malaysia: Sees Bahamas as gateway to Miami Genting Malaysia is still missing a casino license in Miami, Florida, in the US. But its chairman, Tan Sri Lim Kok Thay, sees an opportunity from the soon-to-be-opened Resorts World Bimini Bahamas, its boutique luxury resort and casino located about two hours away by ferry from South Florida. “Part of our strategy is to position Bimini to the South Florida market like Macau to Mainland China. In the absence of a casino license [in Miami], we believe this is a good opportunity to build up a good understanding of the market,” Lim told Genting Malaysia shareholders at its AGM. He added that the Bimini resort is on track to be opened by year-end. (The Edge Financial Weekly) AirAsia: Ratan Tata to be chief advisor of AirAsia India Tata Group's Chairman Emeritus, Ratan Tata, will be chief advisor to the board of AirAsia India, AirAsia's Group chief, Tan Sri Tony Fernandes said. "Persuading Tata to be advisor was not easy. A legend in every sense. Building a powerful team. It is critical to have someone with massive experience to help shape up AirAsia India," he added. Tony also said the name of the AirAsia India chairman would be announced either today or on Monday. (Bernama)

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MMC Corporation: Appoints Che Khalib as Group MD MMC Corporation announced the appointment of Datuk Seri Che Khalib Mohamad Noh as Group MD effective July 1, 2013. Che Khalib succeeds Datuk Hasni Harun whose contract expires on June 30. He will play a pivotal role in driving the group's diversified operations in the three core businesses of energy and utilities, ports and logistics and engineering and construction. (Bernama) Malaysian Resources Corporation: PKNS wants out of MRCB-Gapurna deal Just a few days ahead of a Malaysian Resources Corporation shareholders’ meeting to decide on a transaction to acquire the assets of Gapurna group, the Selangor State Development Corporation (PKNS) sent out an official letter stating that it wanted out of the deal. Executives close to PKNS say the entity does not want to participate in the RM729m corporate exercise between MRCB and Nusa Gapurna Sdn Bhd (NGSB) and is instead looking at buying back the majority stake in the PJ Sentral project. (The Edge Financial Weekly) DRB-Hicom: Lotus all geared up to race ahead after 'clean-up' DRB-Hicom sold 80 Lotus cars up to May, more than the 70 units recorded for the whole of last year. Lotus is all geared up to move ahead after cleaning up its financial state of affairs. "We have cleaned up and are moving ahead," said DRB-Hicom MD Tan Sri Mohd Khamil Jamil on the sidelines of the launch of Proton Preve in Jakarta. He added that DRB-Hicom had taken in the negative aspects regarding Lotus' financial, technical, image, marketing and product, and has sorted out the various issues over the last one and half years. He also announced that a new variant of Lotus will be launched next month. (Business Times) DRB-Hicom: Gives bigger discounts on Saga SV for bigger market share Proton Holdings has turned aggressive with its aim to control 30% of the B-segment market by year-end, with more offerings for the public. Its current 24% B-segment market share would be given a boost after the national carmaker launched the new Saga SV, which saw a further RM5,000 or 12% reduction in prices, without compromising on features, and at prices starting from RM33,438, is the cheapest among its competitors. “With the new Saga variant, we are targeting to sell an additional 2,000 cars on top of our monthly sales of about 5,000 units of Saga FLX. Hopefully the new product offering will garner support of the Malaysian public,” he said at the launch of the Saga SV. (StarBiz) KPJ Healthcare: Eyeing Terengganu and Melaka next KPJ Healthcare targets Terengganu and Melaka as the next two states in Malaysia to set up its hospital operations. That will leave Perlis as the only state without the presence of Malaysia’s healthcare operator. KPJ MD Amirudin Abdul Satar said KPJ is waiting for the right opportunity to move into Terengganu and Melaka. According to a source familiar with the company, potential hospital locations in Melaka include Alor Gajah and Ayer Keroh. (Financial Daily)

Daily Bread | 17 June 2013

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WCT: Seeks RM30m from Oman over cancelled job WCT is seeking RM30m in compensation from the Omani government for the cancellation of a RM1bn highway job in the country. Oman's Transport and Communications Ministry awarded the Batinah Expressway (package 2) contract to WCT in August last year. However, WCT was notified in April of the cancellation by the Omani government, who did not give specific reasons for its decision. (Business Times) Kossan Rubber Industries: To invest RM100m in 3 new plants Kossan Rubber Industries will invest RM100m to build three plants, comprising 17 new production lines, within its existing factory compound. Upon the completion of the facilities, Kossan's annual production output is set to increase to 22bn pieces. "One of the plants will be ready by December and the other two will be completed in April next year," said MD Datuk Lim Kuang Sia Lim at a news conference during Invest Malaysia 2013. (Business Times) Naim Holdings, Dayang Enterprise: May divest part of Dayang stake to unlock value Naim Holdings may divest part of its equity interest in Dayang Enterprise Holdings to reap profit from the investment. Naim MD Datuk Hasmi Hasnan said that partial divestment of its 33.6% stake in associate Dayang to unlock value was one of the options being looked at. However, he declined to say if Naim had been approached by any potential buyers for its prized asset. (StarBiz) Mah Sing Group: Denies buying land in Bukit Kiara Park Mah Sing Group MD and CEO Tan Sri Leong Hoy Kum has denied that the group was close to acquiring any land in Bukit Kiara Park, dismissing such talk as rumours. “We're looking everywhere, we have land proposals everywhere, that's part and parcel of what we do,” he said, “It is all rumours until we announce it,” he said. (StarBiz) Starhill REIT: Plans to raise up to RM800m Starhill Real Estate Investment Trust (REIT) has proposed to undergo a placement exercise to raise up to RM800m to repay some of its borrowings and reduce its gearing level. To accommodate the placement exercise, it has also proposed to increase its existing fund size to a maximum of 2.125bn units from the current 1.324bn units. In a statement to Bursa Malaysia, it said that it also intends to increase its borrowing limit to 60% of its total asset value as opposed to the 50% limit in the Securities Commission’s guidelines. Starhill REIT said it would help it fund larger acquisition opportunities through borrowings in the future. (StarBiz) Sona Petroleum: To spend RM495m on buying assets Sona Petroleum, which is expected to raise RM550m from its IPO exercise, will use RM495m for working capital and RM21.21m for the estimated listing expenses. In an email to Bernama, the special purpose acquisition company (SPAC) said it planned to operate as an independent exploration and production company. Sona Petroleum MD Hadian Hashim said the company aimed to acquire assets in the E&P phase of the oil and gas value chain. (Financial Daily) Ranhill Energy and Resources: RM1bn IPO likely on June 28 Malaysian energy and water company, Ranhill Energy and Resources is expected to launch its initial public offering (IPO) on June 28 that will target raising RM1bn, according to two sources. “They are finalising the cornerstone investors now,” said one of the sources, who declined to be named because the matter was private. (StarBiz)

Daily Bread | 17 June 2013

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Protasco: Going back to Libya, seeking compensation from Libyan Govt Undeterred by previous losses, Protasco is returning to Libya after halting operations there due to a revolution. Group MD Datuk Chong Ket Pen said the company was restarting business in Libya at end-June after exiting the country two years ago. “We have written off RM20m in provision in the past two years for our halted operations in Libya. Our machines are still there. We've been asked to start work by the government and our team has gone back a few times,” Chong told StarBiz. He said the firm still had some RM60m worth of jobs from two contracts in Libya to be done. “It will be good if we can get some compensation. We are seeking compensation for loss of income and depreciation of machines,” Chong said. (StarBiz)

Daily Bread | 17 June 2013

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GLOBAL NEWS US: Consumer sentiment slips in June Consumer sentiment retreated this month after reaching its highest in nearly six years in May, a survey released on Friday showed, as household optimism about employment and housing faded slightly. The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment fell to 82.7 in June, below a near six-year high of 84.5 in May. Economists polled by Reuters had expected it to hold at 84.5 this month. June's reading, however, was the second highest in the last eight months, suggesting Americans were far from gloomy about their long-term prospects. While the barometer of current economic conditions fell to 92.1 from 98.0, a gauge of consumer expectations edged up to its highest since November at 76.7 from 75.8. (Reuters) US: Wholesale prices rise more than forecast on fuel, food Wholesale prices in the US climbed in May for the first time in three months, reflecting an increase in fuel and food prices that failed to filter through to other goods. The producer-price index rose 0.5% after falling 0.7% in April, which was the biggest drop in more than three years, according to a Labor Department report released on Friday in Washington. The median estimate in a Bloomberg survey of 76 economists projected the index would gain 0.1%. So-called core wholesale inflation, which excludes often-volatile food and energy prices, increased 0.1%. (Bloomberg) US: Industrial output flat in May Industrial production was unchanged in May, the Federal Reserve said on Friday, compared with forecasts for a light increase after gains in manufacturing and mining were offset by a sharp drop in the output of utilities. Analysts had expected a 0.2% rise in May industrial output following a revised 0.4% decline the previous month. Factory output rose 0.1%, matching expectations, while mining advanced 0.7%. But utilities output slumped by 1.8%. Industrial capacity utilization, a measure of how fully firms are deploying their resources, edged down to 77.6% from 77.7% in April, a rate that lies 2.6 percentage points below its estimated long-run average. Analysts had forecast capacity utilization to come in at 77.9%. (Reuters) US: Current account widens in 1Q 2013 The current account deficit widened in 1Q 2013 to USD106.1bn, a government report showed on Friday. The Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, fell from a downwardly revised USD102.3bn in 4Q 2012. Most of the widening came from a drop in the US surplus on income and an increase in government transfers, the Commerce Department said. That represented 2.7% of GDP, hovering near the 2.6% recorded in the prior 3-month period. As a share of GDP, the current account deficit was close to the record low in 2Q 2009. (Reuters) US: Foreigners flee from government bonds in April Foreign investors dumped US government debt in April and were net sellers of all long-dated US securities for the third consecutive month, the US Treasury said on Friday. Selling was heavily concentrated in Treasury bonds and notes, with overseas investors unloading USD54.5bn, the first net outflow in seven months. Private investors alone sold USD30.8bn - the largest one-month outflow on record. Overall, foreigners sold USD37.3bn in long-term U.S. securities, the largest outflow in at least three years. March's outflow was revised slightly to USD13.4bn. (Reuters)

Daily Bread | 17 June 2013

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Global: FX rates said to face global regulation in Libor review Global regulators may start overseeing currency rates in a widening response to benchmark-rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said. The International Organization of Securities Commissions, a Madrid-based group known as IOSCO that harmonizes market rules, may propose final guidelines improving transparency and oversight of benchmarks, including the WM/Reuters rates, as soon as next month, said the people, who asked not to be named because the talks aren’t finalized. (Bloomberg)

Daily Bread | 17 June 2013

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ECONOMIC CALENDAR Country Details Date Period Median Forecast Prior Germany Germany Current Situation Survey 18-Jun-13 Jun 9.50 8.90 Germany Germany Economic Sentiment Survey 18-Jun-13 Jun 37.30 36.40 United States US Consumer Price Index m-o-m 18-Jun-13 May 0.20 -0.40 United States US Housing Starts m-o-m 18-Jun-13 May 11.40 -16.50 United States US Building Permits m-o-m 18-Jun-13 May -2.00 14.30 Malaysia Malaysia Consumer Price Index y-o-y 19-Jun-13 May 1.70 1.70 United States US FOMC Rate Decision 20-Jun-13 Jun 19 0.25 0.25 China China HSBC Flash Manufacturing PMI 20-Jun-13 Jun 49.40 49.20 France France Flash Manufacturing PMI 20-Jun-13 Jun - 46.40 Germany Germany Flash Manufacturing PMI 20-Jun-13 Jun 49.90 49.40 Eurozone Eurozone Flash Manufacturing PMI 20-Jun-13 Jun 48.50 48.30 Eurozone Eurozone Consumer Confidence 20-Jun-13 Jun -21.5 -21.9 United States US Initial Jobless Claims 20-Jun-13 Jun 14 340.00 334.00 United States US Continuing Claims 20-Jun-13 Jun 8 - 2973.00 United States US Existing Home Sales m-o-m 20-Jun-13 May 0.60 0.60 United States US Leading Indicators 20-Jun-13 May 0.20 0.60

CORPORATE CALENDAR Corporate Actions

Company Particulars Price Date

announced Ex-date Dufu Technology Corp

Renounceable two-call rights issue of up to 60m new shares (1:2) RM0.50/share 22-Apr-13 19-Jun-13

Kumpulan Hartanah Selangor

Unconditional take-over offer by Kumpulan Darul Ehsan RM0.76/share 14-Feb-13 TBA

Denko Industrial Par value reduction of RM0.60/share - 28-Jul-11 TBA GPRO Technologies Rights issue of up to 254m new shares (1:1) together with up to 254m free new

detachable warrants (1:1) RM0.10/share 20-Jan-12 TBA

Melewar Industrial Rights issue of 150.3m shares (2:3) RM0.40/share 31-Jan-12 TBA SAAG Consolidated Restricted issue of 100.0m new ordinary shares TBA 13-Feb-12 TBA SAAG Consolidated Renounceable rights issue of up to 3,035.9m new ordinary shares (7:5) together

with up to 607.2m free detachable warrants (1:5) RM0.10/share 13-Feb-12 TBA

Malaysian AE Models Holdings

Renounceable two-call rights issue of 53.5m new shares (1:2) together with up to 53.5 free detachable warrants (1:2)

RM1.00/share 2-Mar-12 TBA

Tropicana Corp Bonus issue of up to 122.8m new shares (1:4 rights) - 6-Mar-12 TBA OSK Property Bonus issue of up to 47.5m new shares (2:1 Rights) - 16-Mar-12 TBA Ideal Sun City Renounceable rights issue of up to 94m new shares (4:1) together with up to

47m free detachable warrants RM0.10/share 27-Apr-12 TBA

Aliran Ihsan Resources

Proposed selective capital reduction and repayment resulting in the privatisation of the company by MMC Corporation

RM1.84/share 9-Jul-12 TBA

Harvest Court Industrials

Renounceable rights issue of up to 90.1m new ordinary shares (2:6) together with up to 45.1m free detachable warrants (1:6)

RM0.25/share 24-Oct-12 TBA

Asia Knight Renounceable rights issue of 66.1m irredeemable convertible preference shares(3:2) together with 22.0m free detachable warrants (1:2)

RM1.00/ICPS 9-Nov-12 TBA

Mah Sing Group Bonus issue to be credited as fully paid-up (1:5) - 1-Dec-12 TBA Eduspec Holdings Renounceable rights issue of up to 255.2m new ordinary shares (2:1) together

with up to 382.8m new free detachable warrants (2:1.5) RM0.10/share 26-Dec-12 TBA

Diversified Gateway Solutions

Renounceable rights issue of up to 339m new shares (1:4) together with up to 339m free detachable warrants (1:4)

RM0.10/share 26-Dec-12 TBA

Nextnation Renounceable rights issue of up to 564.1m new ordinary shares (2:3) together with up to 338.4m free detachable warrants (3:5)

RM0.10/share 14-Jan-13 TBA

BTM Resources Par value reduction of RM0.80/share - 16-Jan-13 TBA BTM Resources Renounceable rights issue of up to 118.7m new shares (2:1) together with up to

59.3m free detachable warrants (1:2) RM0.20/share 16-Jan-13 TBA

Daily Bread | 17 June 2013

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Corporate Actions

Company Particulars Price Date

announced Ex-date Malaysian Resources Corporation

Proposed issue of up to 473m free warrants (1:3) TBA 8-Feb-13 TBA

GPRO Technologies Par value reduction of RM0.07/share - 14-Feb-13 TBA GPRO Technologies Bonus issue of up to 139.7m warrants to ordinary shareholders (1:2) - 14-Feb-13 TBA Technodex Renounceable rights issue of up to 85.2m new shares (1:1) together with up to

85.2m free detachable warrants (1:1) TBA 25-Feb-13 TBA

Priceworth International

Par value reduction of RM0.40/share - 1-Apr-13 TBA

KBB Resources Par value reduction of RM0.35/share - 3-Apr-13 TBA KBB Resources Renounceable rights issue of up to 120m new shares (1:1) together with up to

120m free detachable warrants (1:1) RM0.18/share 3-Apr-13 TBA

Sarawak Cable Renounceable rights issue of up to 77.6m new shares (1:2) RM1.00/share 4-Apr-13 TBA Sarawak Cable Bonus issue of up to 46.5m new shares (1:5) - 4-Apr-13 TBA Sunway Renounceable rights issue of up to 568.7m new shares (1:3) RM1.70/share 5-Apr-13 TBA Mexter Techonolgy Renounceable rights issue of up to 89.5m new ordinary shares (1:1) together

with up to 89.5m free detachable warrants (1:1) TBA 5-Apr-13 TBA

Land & General Rights issue of up to RM77.8m nominal value of ICULS (RM0.13 ICULS:1) 100% of nominal value of ICULS

9-Apr-13 TBA

Unimech Group Rights issue of up to RM33.4m nominal value of ICULS (RM1.00 ICULS:4) together with up to 66.8m free warrants (2:1 ICULS)

100% of nominal value of ICULS

19-Apr-13 TBA

Gabungan AQRS Bonus issue of up to 159.9m warrants to ordinary shareholders (9:20) - 23-Apr-13 TBA Datasonic Group Bonus issue of up to 45m new shares (1:2) - 24-Apr-13 TBA Farm's Best Proposed issue of up to 11.1m free warrants (1:5) TBA 25-Apr-13 TBA AT Systemization Renounceable rights issue of up to 196.8m new ordinary shares (2:2) together

with up to 98.4m free detachable warrants (1:2) TBA 10-May-13 TBA

APFT Bonus issue of up to 78.5m new warrants (1:2) - 14-May-13 TBA Naim Indah Corporation

Rights issue of up to 702m new shares (1:1) together with up to 842.4m free new detachable warrants (6:5)

TBA 10-Jun-13 TBA

Instacom Group Bonus issue of up to 351.1m new warrants (1:2) - 12-Jun-13 TBA Tiger Synergy Renounceable rights issue of up to 424.7m new shares (1:1) together with up to

424.7m free detachable warrants (1:1) TBA 13-Jun-13 TBA

Note: TBA – to be announced Dividends

Company Particulars Gross DPS

(RM) Date

announced Ex-date Lodgement

date Payment

date Lafarge Malayan Cement

First interim single-tier dividend 8 sen 0.080 22-May-13 17-Jun-13 19-Jun-13 17-Jul-13

Time Engineering Final dividend 4 sen 0.040 22-May-13 18-Jun-13 20-Jun-13 12-Jul-13 Central Industrial Corporation

Final dividend 1.5% 0.015 27-May-13 18-Jun-13 20-Jun-13 9-Jul-13

FTSE Bursa Malaysia KLCI ETF

Interim income distribution 0.50 sen 0.005 3-Jun-13 19-Jun-13 21-Jun-13 22-Jul-13

Riverview Rubber First interim dividend 10% single tier system 0.100 17-May-13 19-Jun-13 21-Jun-13 19-Jul-13 White Horse Final dividend 5% T.E 0.050 3-May-13 19-Jun-13 21-Jun-13 16-Jul-13 Globetronics Technology

Single tier final dividend 4% and special dividend 2%

0.060 22-Apr-13 19-Jun-13 21-Jun-13 3-Jul-13

Ni Hsin Resources Final single tier dividend 0.5 sen 0.005 29-Apr-13 19-Jun-13 21-Jun-13 18-Jul-13 ABF Malaysia Bond Index Fund

Interim income distribution 1.75 sen 0.018 3-Jun-13 20-Jun-13 24-Jun-13 23-Jul-13

Kian Joo Can Factory

Final T.E (single tier) dividend 10% (2.50 sen) 0.025 22-May-13 20-Jun-13 24-Jun-13 10-Jul-13

Kian Joo Can Factory

Special T.E (single tier) dividend 15% (3.75 sen) 0.038 22-May-13 20-Jun-13 24-Jun-13 10-Jul-13

Mesiniaga First and final dividend 21 sen 0.210 29-Apr-13 20-Jun-13 24-Jun-13 5-Jul-13 Kim Hin Industry First and final dividend 3% T.E 0.030 26-Apr-13 20-Jun-13 24-Jun-13 22-Jul-13 Box-Pak (Malaysia) First and final dividend 10% 0.100 17-May-13 20-Jun-13 24-Jun-13 10-Jul-13 Xidelang Holdings Single tier final dividend 0.50 sen 0.005 16-May-13 21-Jun-13 25-Jun-13 18-Jul-13 Tien Wah Press Final dividend 8.52 sen 0.085 15-Apr-13 21-Jun-13 25-Jun-13 10-Jul-13

Daily Bread | 17 June 2013

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Dividends

Company Particulars Gross DPS

(RM) Date

announced Ex-date Lodgement

date Payment

date Vitrox Corporation Final dividend 0.50 sen T.E and special dividend

0.75 sen T.E 0.013 29-May-13 24-Jun-13 26-Jun-13 24-Jul-13

Far East Holdings Final single tier dividend 17.50 sen 0.175 30-Apr-13 24-Jun-13 26-Jun-13 8-Jul-13 Mudajaya Group Final dividend 12.5% (or 2.5 sen) single tier 0.025 21-May-13 24-Jun-13 26-Jun-13 16-Jul-13 Encorp Single tier final dividend 2 sen 0.020 24-Apr-13 24-Jun-13 26-Jun-13 10-Jul-13 M-Mode Final dividend 0.50 sen T.E 0.500 21-May-13 25-Jun-13 27-Jun-13 12-Jul-13 Multi-Purpose Final dividend 5 sen (3.5 sen less tax & 1.5 sen

single-tier) 0.050 27-May-13 25-Jun-13 27-Jun-13 12-Jul-13

Bumi Armada Final dividend single tier 3.0 sen T.E & 0.14 sen

less tax 0.031 21-May-13 25-Jun-13 27-Jun-13 16-Jul-13

Privasia Technology Single tier final dividend 0.30 sen T.E 0.003 30-May-13 26-Jun-13 28-Jun-13 18-Jul-13 Manulife Holdings First and final dividend 15 sen 0.150 30-May-13 26-Jun-13 28-Jun-13 16-Jul-13 Gopeng Final single tier dividend 3 sen 0.030 27-May-13 26-Jun-13 28-Jun-13 19-Jul-13 Genting Plantations Final dividend 5.50 sen 0.055 6-May-13 26-Jun-13 28-Jun-13 17-Jul-13 Mega First Corporation

T.E final dividend 4.1 sen 0.041 25-Apr-13 26-Jun-13 28-Jun-13 16-Jul-13

Genting Berhad Final dividend 4.5 sen 0.045 6-May-13 26-Jun-13 28-Jun-13 25-Jul-13 Muda Holdings First and final T.E dividend 3 sen 0.030 3-Jun-13 26-Jun-13 28-Jun-13 17-Jul-13 Genting Malaysia Final dividend 5 sen 0.050 6-May-13 26-Jun-13 28-Jun-13 22-Jul-13 TRC Synergy First and final dividend 0.48 sen 0.048 29-Apr-13 26-Jun-13 28-Jun-13 15-Jul-13 Sarawak Oil Palm First and final dividend 6% 0.060 4-Jun-13 26-Jun-13 28-Jun-13 23-Jul-13 CSC Steel Final single tier dividend 5% and special single

tier dividend 2% 0.070 5-Feb-13 26-Jun-13 28-Jun-13 11-Jul-13

Matrix Concept First interim dividend 13.5 sen 0.135 23-May-13 26-Jun-13 28-Jun-13 8-Jul-13 KPJ Healthcare Interim dividend 2.0 sen single tier 0.020 22-May-13 26-Jun-13 28-Jun-13 19-Jul-13 Metrod Holdings Final single tier dividend 6 sen 0.060 21-Feb-13 26-Jun-13 28-Jun-13 17-Jul-13 Astro Malaysia Holdings

First interim single tier dividend 2 sen 0.020 12-Jun-13 26-Jun-13 28-Jun-13 15-Jul-13

New Hoong Fatt Final single tier dividend 8 sen and special final single tier dividend 2 sen

0.100 30-May-13 26-Jun-13 28-Jun-13 19-Jul-13

Uchi Technologies Final T.E dividend 7 sen 0.070 30-Apr-13 26-Jun-13 28-Jun-13 25-Jul-13 SLP Resources Final single-tier dividend 1 sen 0.010 27-May-13 26-Jun-13 28-Jun-13 18-Jul-13 Uzma Single tier interim dividend 2 sen 0.020 13-Jun-13 26-Jun-13 28-Jun-13 25-Jul-13 Perak Corporation First and final dividend 8.5 sen 0.085 30-May-13 26-Jun-13 28-Jun-13 17-Jul-13 Perak Corporation Special dividend 1.1 sen T.E 0.011 30-May-13 26-Jun-13 28-Jun-13 17-Jul-13 TSH Resources First and final single tier dividend 2.5 sen 0.025 26-Apr-13 26-Jun-13 28-Jun-13 23-Jul-13 Advanced Packaging Technology

Gross final dividend 10% 0.100 28-May-13 26-Jun-13 28-Jun-13 23-Jul-13

Felda Global Ventures

Final dividend 8.5 sen single-tier system 0.085 7-Jun-13 27-Jun-13 1-Jul-13 12-Jul-13

Top Glove Corporation

First single tier dividend 7 sen 0.070 13-Jun-13 27-Jun-13 1-Jul-13 18-Jul-13

Chemical Company of Malaysia

Final single tier dividend 5.75 sen 0.058 25-Mar-13 28-Jun-13 2-Jul-13 23-Jul-13

Protasco Final single tier dividend 4 sen 0.040 26-Apr-13 28-Jun-13 2-Jul-13 15-Jul-13 Aeon Credit Service Final single tier dividend 19.50 sen 0.195 18-Apr-13 28-Jun-13 2-Jul-13 16-Jul-13 UEM Land First and final single tier dividend 3 sen 0.030 8-May-13 28-Jun-13 2-Jul-13 31-Jul-13 Kossan Rubber Final dividend 7 sen T.E. 0.070 18-Apr-13 28-Jun-13 2-Jul-13 16-Jul-13 Karyon Industries Final dividend 4% under single tier system 0.040 24-Apr-13 1-Jul-13 3-Jul-13 19-Jul-13 Asas Dunia First and final dividend 5% 0.050 22-May-13 1-Jul-13 3-Jul-13 19-Jul-13 Seni Jaya Corporation

Final dividend 5 sen 0.050 3-Jun-13 1-Jul-13 3-Jul-13 18-Jul-13

BLD Plantation First and final single-tier dividend 5 sen 0.050 25-Apr-13 2-Jul-13 4-Jul-13 31-Jul-13 Tasco Franked final dividend of 6.67 sen less 25% tax 0.067 23-May-13 2-Jul-13 4-Jul-13 18-Jul-13 EP Manufacturing Final T.E dividend 2 sen 0.020 31-May-13 2-Jul-13 4-Jul-13 18-Jul-13 SCC Holdings Single tier dividend 10 sen (5 sen T.E & 5 sen

special T.E) 0.100 27-May-13 3-Jul-13 5-Jul-13 31-Jul-13

Fraser & Neave Interim single dividend 20 sen 0.200 7-May-13 3-Jul-13 5-Jul-13 1-Aug-13 Harrissons Holdings Final single-tier dividend 15.0 sen 0.150 20-May-13 3-Jul-13 5-Jul-13 26-Jul-13 Muar Ban Lee Final dividend of 3 sen single tier dividend 0.030 22-May-13 3-Jul-13 5-Jul-13 23-Jul-13 Sarawak Cable First and final single tier dividend 2.5 sen 0.025 22-Apr-13 3-Jul-13 5-Jul-13 26-Jul-13

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Dividends

Company Particulars Gross DPS

(RM) Date

announced Ex-date Lodgement

date Payment

date Mentiga Corporation

First and final dividend 4 sen 0.040 3-Jun-13 3-Jul-13 5-Jul-13 2-Aug-13

Unimech Group First and final single tier dividend 6 sen 0.060 29-May-13 3-Jul-13 5-Jul-13 25-Jul-13 Johore Tin Single tier final dividend 4.2% 0.042 16-May-13 3-Jul-13 5-Jul-13 29-Jul-13 Furniweb Industrial Products

Final T.E dividend 3 sen 0.030 4-Jun-13 4-Jul-13 8-Jul-13 23-Jul-13

Tex Cycle Technology

First and final single tier T.E dividend 5% 0.050 31-May-13 5-Jul-13 9-Jul-13 23-Jul-13

Faber Group Final dividend 10 sen 0.100 31-May-13 5-Jul-13 9-Jul-13 24-Jul-13 Eversendai Corporation

Final single tier dividend 2 sen 0.020 22-May-13 5-Jul-13 9-Jul-13 23-Jul-13

Careplus Group First and final single tier dividend 0.25 sen 0.003 29-May-13 8-Jul-13 10-Jul-13 31-Jul-13 Ibraco First and final single tier dividend 5.00 sen 0.050 5-Jun-13 8-Jul-13 10-Jul-13 24-Jul-13 Apex Equity Holding Final dividend 5% 0.050 27-May-13 8-Jul-13 10-Jul-13 31-Jul-13 Yoong Onn Corporation

Interim dividend 2 sen single tier T.E 0.020 29-May-13 8-Jul-13 10-Jul-13 29-Jul-13

Lii Hen Industries Final single tier dividend 3% 0.030 31-May-13 8-Jul-13 10-Jul-13 25-Jul-13 UPA Corporation First and final dividend 8% 0.080 5-Jun-13 8-Jul-13 10-Jul-13 24-Jul-13 Crest Builder First and final dividend 5% 0.050 31-May-13 8-Jul-13 10-Jul-13 1-Aug-13 Malaysia Steel Works

Final single-tier dividend 0.5 sen 0.005 3-Jun-13 9-Jul-13 11-Jul-13 26-Jul-13

Taliworks Corporation

Final dividend 6% 0.060 4-Jun-13 9-Jul-13 11-Jul-13 31-Jul-13

Grand-flo Solution Final dividend 1 sen T.E 0.010 4-Jun-13 10-Jul-13 12-Jul-13 31-Jul-13 Advance Synergy First and final gross dividend 0.5 sen 0.005 6-Jun-13 10-Jul-13 12-Jul-13 5-Aug-13 Keck Seng (Malaysia)

Final dividend 6% 0.060 23-Apr-13 10-Jul-13 12-Jul-13 26-Jul-13

Media Chinese International

Interim dividend USD1.015 cents (equivalent to RM0.03103)

0.031 29-May-13 10-Jul-13 12-Jul-13 31-Jul-13

Guan Chong Final T.E single-tier dividend 2.0 sen 0.020 3-Jun-13 10-Jul-13 12-Jul-13 26-Jul-13 Eita Resources First and final single tier dividend 3.5 sen 0.035 31-May-13 10-Jul-13 12-Jul-13 30-Jul-13 Kelington Group Final T.E dividend 2 sen 0.020 3-Jun-13 11-Jul-13 15-Jul-13 12-Aug-13 Allianz Malaysia First and final dividend 6.50 sen 0.065 29-May-13 11-Jul-13 15-Jul-13 6-Aug-13 Allianz Malaysia Preference share dividend 7.80 sen ICPS single

tier 0.078 29-May-13 11-Jul-13 15-Jul-13 6-Aug-13

Can-One First and final T.E dividend 8% (4 sen) 0.040 27-May-13 11-Jul-13 15-Jul-13 31-Jul-13 OCB First and final T.E single tier dividend 1.5% 0.015 23-May-13 11-Jul-13 15-Jul-13 31-Jul-13 Suria Capital Holdings

Final T.E dividend 3.15% 0.032 5-Jun-13 11-Jul-13 15-Jul-13 31-Jul-13

Puncak Niaga Final single tier dividend 5 sen 0.050 3-Jun-13 11-Jul-13 15-Jul-13 6-Aug-13 Note: TE – tax exempt

Daily Bread | 17 June 2013

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DISCLOSURE Stock rating definitions Strong buy - High conviction buy with expected 12-month total return (including dividends) of 30% or more Buy - Expected 12-month total return of 15% or more Neutral - Expected 12-month total return between -15% and 15% Sell - Expected 12-month total return of -15% or less Trading buy - Expected 3-month total return of 15% or more arising from positive newsflow. However, upside may not be sustainable Sector rating definitions Overweight - Industry expected to outperform the market over the next 12 months Neutral - Industry expected to perform in-line with the market over the next 12 months Underweight - Industry expected to underperform the market over the next 12 months Commonly used abbreviations Adex = advertising expenditure EPS = earnings per share PBT = profit before tax bn =bn EV = enterprise value P/B = price / book ratio BV = book value FCF = free cash flow P/E = price / earnings ratio CF = cash flow FV = fair value PEG = P/E ratio to growth ratio CAGR = compounded annual growth rate FY = financial year q-o-q = quarter-on-quarter Capex = capital expenditure m =m RM = Ringgit CY = calendar year M-o-m = month-on-month ROA = return on assets Div yld = dividend yield NAV = net assets value ROE = return on equity DCF = discounted cash flow NM = not meaningful TP = target price DDM = dividend discount model NTA = net tangible assets trn =trn DPS = dividend per share NR = not rated WACC = weighted average cost of capital EBIT = earnings before interest & tax p.a. = per annum y-o-y = year-on-year EBITDA = EBIT before depreciation and amortisation PAT = profit after tax YTD = year-to-date

Daily Bread | 17 June 2013

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