DOCSLIB.ORG

Malaysia Strategy Refer to Important Disclosures at the End of This Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Malaysia Strategy Refer to Important Disclosures at the End of This Report Malaysia Market Focus Malaysia Strategy Refer to important disclosures at the end of this report DBS Group Research . Equity 3 May 2018 Positioning for post GE KLCI : 1,852.03 Election overhang to ease post GE14 as investors focus on Analyst fundamentals Bernard CHING +603 2604 3918 Election expected to be fiercely contested with status quo being the [email protected] base case while the worst case is a hung parliament leading to Malaysian Research Team protracted uncertainty and risk aversion +603 2604 3333 [email protected] Laggards in mid- and small-cap space poised to re-rate given cheap valuation and return of risk appetite Market Key Data Maintain end-2018 KLCI target of 1,950; Top picks are MAY, CIMB, (%) EPS Gth Div Yield 2017A 6.5 3.4 HLBK, GAM, BAB, SAPE, SCGB, SKP, HIBI, UNI, WSC, GTB and YTB 2018F 9.8 3.2 8.0 Weak broader market due to election overhang. Despite the 2019F 3.4 FBMKLCI’s resilience (YTD: +3.9%), the broader market has been weak as (x) PE PB evidenced by the 15% YTD loss in the FBM Small Cap Index. This is partly 2017A 17.9 1.7 th driven by risk aversion ahead of the 14 General Election (GE14) on 9 May. 16.3 2018F 1.7 2019F 15.1 1.6 Positioning for post GE14 rebound. The market will remain volatile ahead of GE14 given a widely expected fierce contest between the ruling Barisan Nasional (BN) and opposition coalition led by former PM Dr STOCKS Mahathir. Without predicting the election outcome, our base case assumes 12-mth that the status quo will be maintained which will see the election overhang Price Mkt Cap Target Performance (%) ease post GE14 as investors focus on fundamentals again. Against the RM US$m RM 3 mth 12 mth Rating backdrop of sustained economic growth, we expect the Malaysian equity Maybank 10.66 29,589 11.50 5.5 11.3 BUY market to resume its upward trajectory and reiterate our end-2018 KLCI CIMB Group 7.04 16,509 8.00 (2.9) 22.7 BUY target of 1,950. We believe laggard mid- and small-cap stocks will likely be HoldingsHong Leong 18.84 9,796 21.00 1.3 36.5 BUY re-rated given its attractive valuation (-1SD PB of 0.8x) and return of risk BankGamuda 5.11 3,198 6.70 (0.2) (3.0) BUY appetite among investors. In particular, the construction sector should be Bumi Armada 0.83 1,238 1.05 (1.8) 5.1 BUY re-rated following the recent correction as the implementation of major Sapura Energy 0.71 1,081 1.05 (6.0) (64.5) BUY projects such as ECRL, MRT 3 and HSR gets underway. Sunway 2.22 729 2.60 (13.3) 11.0 BUY Construction Key theme and top picks. (1) Cyclical recovery in loan growth and SKPGroup Resources 1.48 470 2.50 (24.5) 14.7 BUY interest-rate hikes. Maybank (MAY), CIMB and Hong Leong Bank (HLBK) BhdHibiscus 0.80 323 1.48 (18.4) 88.2 BUY are our top banking stock picks. (2) Cyclical global oil & gas capex recovery. UnisemPetroleum 1.78 332 2.60 (41.1) (46.6) BUY Sapura Energy (SAPE) is our new pick given its exposure to upstream WahBerhad Seong 1.39 273 1.90 (4.8) 56.2 BUY exploration and production activities both as an oil producer as well as a GlobetronicsCorp 4.25 309 6.50 (32.8) (21.7) BUY YongTechnology Tai Bhd 1.47 180 2.00 (3.3) (8.1) BUY service provider. Bumi Armada, Wah Seong and Hibiscus are our other Bhd picks. (3) Sustained E&E exports amid more favourable risk-reward Source: AllianceDBS, Bloomberg Finance L.P. following the recent correction. Besides SKP Resources (SKP), we added Closing price as of 2 May 2018 Unisem (UNI) and Globetronics (GTB). (4) Tourism benefiting from discretionary spending recovery and an influx of Chinese tourists. Yong Tai (YTB) remains our pick for this theme. Lastly, (5) the re-rating of construction sector post GE14 with Gamuda (GAM) and Sunway Construction (SCGB) being added to our top picks. Key risks. In the event there is a change in government post GE14, we believe there would be a selldown in the near term given policy uncertainty with the construction sector being the most affected. However, the worst- case scenario is a hung parliament where neither BN nor the Dr Mahathir- led opposition wins a majority, leading to protracted uncertainty and risk aversion. Other key risks to watch out for are trade wars between the US and its major trading partners which will impact exporters, particularly E&E players, and potentially faster-than-expected US interest rate normalisation. ed: CK / sa:WMT, PY, CS Market Focus Malaysia Strategy Market Review YTD sector performance (AllianceDBS universe) Amid external uncertainty over trade wars and a faster pace of Automotive rate normalisation in the US, the FBMKLCI has chalked up a Oil & Gas Banking flattish performance in Apr, mirroring the performance of the Glove MSCI ASEAN Index. Nevertheless, the FBMKLCI’s YTD gain of Utilities Plantation 3.9% still outpaced the performance of all other ASEAN-5 Healthcare Consumer markets particularly in US terms as the ringgit has Property strengthened by +2.3% against the greenback. Transport Construction REIT Telecommunication Despite the resilient performance of the benchmark FBMKLCI Gaming index, the broader Malaysian market has continued to be Building Materials Electronics th affected by dampened investor sentiment ahead of the 14 Media General Elections (GE14) on 9 May. YTD, the KLCI Small Cap Technology -40% -30% -20% -10% 0% 10% 20% Index has dropped 15%. Source: AllianceDBS In terms of YTD sector performance, the automotive (+15.3%), oil & gas (+14.8%) and banking (+10.1%) sectors were the Market Outlook top three gainers. The performance of the automotive sector was largely driven by optimism post restructuring of UMW In the near term, the market will remain volatile ahead of Holdings while the oil & gas sector has been re-rated on the GE14. While blue chip stocks, particularly constituent stocks of back of rising oil prices. As for the banking sector, improving the FBMKLCI, have held up pretty well, mid- and small-cap earnings prospect amid lower credit cost and NIM expansion stocks have seen a wave of selldown ahead of GE14. The has been the key driver. On the other hand, electronics selldown has been so severe that the FBM Small Cap Index, manufacturing services (EMS) (-27.2%), media (-30.3%) and which represents the top 98% of Bursa Malaysia Main Market technology (-31.1%) sectors were the biggest losers YTD. The excluding the top 100 stocks, has seen its P/B valuation being EMS and technology sectors were dragged by global selldown de-rated to -1SD of 0.8x. of EMS and tech stocks, strengthening ringgit against the USD as well as concern of trade wars. As for the media sector, FBM Small Cap P/B band disappointing results amid a structural shift from traditional to 1.7 online advertising has been a major drag. 1.5 YTD performance of FBM KLCI, Small Cap and ACE indices 1.3 +1 S.D: 1.2x FBM KLCI FBM Small Cap FBM ACE 1.1 Mean: 10% 1.0x 4% 0.9 5% -1 S.D: 0.8x 0% 0.7 -5% 0.5 -10% Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 -15% -15% -20% Source: AllianceDBS, Bloomberg -25% -22% -30% Following several surprise election results in the US and 9-Jan 2-Jan Europe, investors are expected to be wary of GE14 which will 3-Apr 6-Feb 6-Mar 1-May 16-Jan 23-Jan 30-Jan 17-Apr 10-Apr 24-Apr 27-Feb 13-Feb 20-Feb 13-Mar 20-Mar 27-Mar see a fierce contest between the ruling Barisan Nasional (BN) Source: AllianceDBS, Bloomberg led by caretaker prime minister Najib Razak against the opposition parties led by former PM Dr Mahathir. The plot thickened further with the departure of the Islamic party PAS from the opposition coalition, leading to three-corner fights in many constituencies. While we do not have a prediction of the election results, our base-case stock selection is premised on a status quo with BN retaining a simple majority in parliamentary seats (BN won 133 seats in 13th General Election out of 222 Page 2 Market Focus Malaysia Strategy seats). In the event of a change in federal government, we believe there would be further selldown in the near term due FBMKLCI PE trend to policy uncertainty. However, the worst-case scenario is a KLCI P/E Average +1 SD -1 SD hung parliament where neither BN nor the Dr Mahathir-led P/E 18.00 opposition wins a majority, leaving PAS as the kingmaker to 17.50 negotiate for the formation of an unstable federal 17.00 16.8x government. This would lead to protracted risk aversion by 16.50 16.4x 16.00 investors, in our view. 15.9x 15.50 Results of 13th GE (parliamentary seats only) 15.00 14.50 BN PAS PKR DAP Total 14.00 Perlis 3 3 Jul-14 Jul-15 Jul-16 Jul-17 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Oct-17 Oct-14 Oct-15 Oct-16 Apr-17 Apr-18 Apr-14 Apr-15 Apr-16 Kedah 10 1 4 15 Kelantan 5 9 14 Source: Bloomberg Finance L.P, AllianceDBS Terengganu 4 4 8 Pulau Pinang 3 3 7 13 KLCI equity risk premium (earnings yield – risk-free rate) Perak 12 2 3 7 24 % Pahang 10 1 2 1 14 7.0 Selangor 5 4 9 4 22 6.0 Kuala Lumpur 2 4 5 11 5.0 Putrajaya 1 1 4.0 +1 SD:3.4 Negeri Sembilan 5 1 2 8 3.0 Mean: 2.6 2.0 Melaka 4 1 1 6 -1SD: 1.7 1.0 Johor 21 1 4 26 0.0 Labuan 1 1 Jul-09 Jul-14 Jan-07 Jan-12 Jan-17 Jun-07 Jun-12 Jun-17 Oct-10 Oct-15 Apr-08 Apr-13 Apr-18 Sep-13 Sep-08 Feb-09 Feb-14 Dec-09 Dec-14 Aug-11 Aug-16 Nov-07 Nov-12 Nov-17 Mar-11 Mar-16 May-15 Sabah 22 1 2 25 May-10 Sarawak 25 1 5 31 Source: Bloomberg Finance L.P, AllianceDBS Total 133 21 30 38 222 Source: Election Commission 10-year MGS yield % We believe investor focus will be back on fundamentals post 5.0 GE14.
Load more

Recommended publications
  • Hong Leong Bank Berhad
    April 12, 2018 Global Markets Research Fixed Income Fixed Income Daily Market Snapshot US Treasuries UST T enure C lo sing (%) C hg (bps) US Treasuries rallied going into US session before fading the 2-yr UST 2.31 0 spike towards closing, though still closed firmer. Demand was 5-yr UST 2.61 -1 mostly driven by uptick in US inflation that pushed the longer- 10-yr UST 2.78 -2 ended maturities higher; 10Y yield fell 2bps to 2.78% while 30Y 30-yr UST 3.00 -3 yield ended 3bps lower at 3.00%. The 2Y (most sensitive to interest rate outlook) pared losses from US morning after FOMC MGS GII* minutes were released, likely supported by slight improvement in T enure C lo sing (%) C hg (bps) C lo sing (%) C hg (bps) 3-yr 3.47 0 3.60 0 market expectations that the Fed is generally more optimistic on 5-yr 3.57 0 3.83 0 outlook of growth and inflation. Expect USTs to be supported by 7-yr 3.86 0 4.01 1 on-going tensions between US and Russia regarding Syrian 10-yr 3.97 0 4.16 0 conflict. Data front carries little impact amid tepid releases. 15-yr 4.43 1 4.56 1 20-yr 4.57 4 4.75 0 30-yr 4.80 0 4.92 0 MGS/GII * M arket indicative levels Trading volume in local govvies more than halved to RM 1.25b as interest dissipated on a lack of positive catalysts in regional M YR IRS Levels markets, more so when Malaysian data underperformed.
    [Show full text]
  • ESG Ratings of Plcs Assessed by FTSE Russell# in Accordance with FTSE Russell ESG Ratings Methodology
    ESG Ratings of PLCs assessed by FTSE Russell# in accordance with FTSE Russell ESG Ratings Methodology Definition Top 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 26-50% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 51%- 75% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Bottom 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Stock Company Name Sector F4GBM ESG Grading Code (sorted By Alphabetical) Index Band 6599 AEON CO. (M) BHD CONSUMER PRODUCTS & SERVICES ** 5139 AEON CREDIT SERVICE (M) BHD FINANCIAL SERVICES Yes *** 7078 AHMAD ZAKI RESOURCES BHD CONSTRUCTION *** 5099 AIRASIA GROUP BERHAD CONSUMER PRODUCTS & SERVICES *** 5238 AIRASIA X BERHAD CONSUMER PRODUCTS & SERVICES ** 2658 AJINOMOTO (M) BHD CONSUMER PRODUCTS & SERVICES Yes *** 2488 ALLIANCE BANK MALAYSIA BERHAD FINANCIAL SERVICES Yes *** 5293 AME ELITE CONSORTIUM BERHAD CONSTRUCTION * 1015 AMMB HOLDINGS BHD FINANCIAL SERVICES Yes **** 6556 ANN JOO RESOURCES BHD INDUSTRIAL PRODUCTS & SERVICES * 6399 ASTRO MALAYSIA HOLDINGS BERHAD TELECOMMUNICATIONS & MEDIA Yes **** 6888 AXIATA GROUP BERHAD TELECOMMUNICATIONS & MEDIA Yes *** 5106 AXIS REITS REAL ESTATE INVESTMENT TRUSTS ** 3395 BERJAYA CORPORATION BHD INDUSTRIAL PRODUCTS & SERVICES ** 1562 BERJAYA SPORTS TOTO BHD CONSUMER PRODUCTS & SERVICES ** 5248 BERMAZ AUTO BERHAD CONSUMER PRODUCTS & SERVICES Yes **** 2771 BOUSTEAD HOLDINGS BHD INDUSTRIAL PRODUCTS & SERVICES ** 4162 BRITISH AMERICAN
    [Show full text]
  • ESG Ratings of Plcs Assessed by FTSE Russell# in Accordance with FTSE Russell ESG Ratings Methodology
    ESG Ratings of PLCs assessed by FTSE Russell# in accordance with FTSE Russell ESG Ratings Methodology Definition Top 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 26-50% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 51%- 75% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Bottom 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Stock Company Name Sector F4GBM ESG Grading Code (sorted By Alphabetical) Index Band 6599 AEON CO. (M) BHD CONSUMER PRODUCTS & SERVICES ** 5139 AEON CREDIT SERVICE (M) BHD FINANCIAL SERVICES Yes *** 7078 AHMAD ZAKI RESOURCES BHD CONSTRUCTION *** 5099 AIRASIA GROUP BERHAD CONSUMER PRODUCTS & SERVICES *** 5238 AIRASIA X BERHAD CONSUMER PRODUCTS & SERVICES ** 2658 AJINOMOTO (M) BHD CONSUMER PRODUCTS & SERVICES Yes *** 2488 ALLIANCE BANK MALAYSIA BERHAD FINANCIAL SERVICES Yes *** 5293 AME ELITE CONSORTIUM BERHAD CONSTRUCTION * 1015 AMMB HOLDINGS BHD FINANCIAL SERVICES Yes **** 6556 ANN JOO RESOURCES BHD INDUSTRIAL PRODUCTS & SERVICES * 6399 ASTRO MALAYSIA HOLDINGS BERHAD TELECOMMUNICATIONS & MEDIA Yes **** 6888 AXIATA GROUP BERHAD TELECOMMUNICATIONS & MEDIA Yes *** 5106 AXIS REITS REAL ESTATE INVESTMENT TRUSTS ** 3395 BERJAYA CORPORATION BHD INDUSTRIAL PRODUCTS & SERVICES ** 1562 BERJAYA SPORTS TOTO BHD CONSUMER PRODUCTS & SERVICES ** 5248 BERMAZ AUTO BERHAD CONSUMER PRODUCTS & SERVICES Yes **** 2771 BOUSTEAD HOLDINGS BHD INDUSTRIAL PRODUCTS & SERVICES ** 4162 BRITISH AMERICAN
    [Show full text]
  • '20Annual Report 20
    NAVIGATING FORWARD Annual‘20 Report 20 INSIDE THIS REPORT >>> A reflection of our perseverance and determination in charting our future. Our relentless pursuit for growth reflects our tenacious spirit amidst the changing operating landscape. Scan this QR code to view the 2020 SAPURA ENERGY Annual Report RATIONALE Navigating forward amidst uncertainties. Sapura Energy’s fundamental resilience and agile strategy will help us steer through a highly cyclical oil and gas industry. We remain positive and firm in our efforts to turnaround the company, through a comprehensive plan that ensures lean and efficient operations, supported by a high performing workforce. These initiatives place us one step ahead in managing the uncertainties of the current climate. SAPURA 3500 Sapura 3500 is our self-propelled Heavy Lift Pipe Laying vessel, capable of pipe laying in deep and shallow waters. Fact 1 Sapura 3500 is 250 156.5m in length, 200 over 18.5m more than the height of The Great Pyramid of Giza. 150 The Great Pyramid of Giza 100 138m 50 Sapura 3500 156.5m 0 250 200 150 100 50 Metres Fact 2 Primary crane onboard Sapura 3500 has a lifting capacity of up to 3,500 metric tonnes equivalent to lifting approximately 6 boeing 747-8 airplanes CHAIRMAN’S LETTER TO SHAREHOLDERS DEAR SHAREHOLDERS, Thank you for your confidence and continuous interest in Sapura Energy Berhad (“Sapura Energy”). On behalf of the Board of Directors, it is my pleasure to invite you to join our Ninth Annual General Meeting which will be held on Thursday, 30 July 2020 at 10.00 a.m.
    [Show full text]
  • Corporate Governance Monitor 2020
    Securities Commission Malaysia 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur Malaysia Corporate Governance Monitor 2020 Tel: + 603 6204 8000 www.sc.com.my www.investsmartsc.my Twitter: @SecComMy CORPORATE GOVERNANCE MONITOR 2020 Securities Commission Malaysia 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur Tel: +603–6204 8000 Fax: +603–6201 5078 Website: www.sc.com.my COPYRIGHT © 2020 Securities Commission Malaysia All rights reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means (graphical, electronic, mechanical, photocopying, recording, taping or otherwise), without the prior written permission of the Securities Commission Malaysia. DISCLAIMER This book aims to provide a general understanding of the subject and is not an exhaustive write-up. It is not intended to be a substitute for legal advice and nor does it disminish any duty (statutory or otherwise) that may be applicable to any person under existing laws. Published in October 2020. ii CORPORATE GOVERNANCE MONITOR 2020 CONTENTS Executive Summary 1 Key Highlights 4 Adoption of the Malaysian Code on Corporate Governance 6 Quality of Disclosure 18 Thematic Review 1: Conduct of Fully Virtual General Meetings 24 – A New Normal Thematic Review 2: Two-Tier Voting – Outcomes and Observations 31 Thematic Review 3: Board Remuneration – Design, Deliver, Disclose 34 Appendices 42 Glossary 51 CORPORATE GOVERNANCE MONITOR 2020 iii This page is intentionally left blank. iv CORPORATE GOVERNANCE MONITOR 2020 EXECUTIVE SUMMARY The release of the Corporate Governance Monitor 2020 (CG Monitor 2020) takes place at a time when countries across the globe are facing the COVID-19 pandemic, that has changed the normal course of life and tested the resilience of people and businesses.
    [Show full text]
  • Corporate Governance in Malaysia | October 2017
    CORPORATE GOVERNANCE IN MALAYSIA | OCTOBER 2017 CORPORATE GOVERNANCE IN MALAYSIA Family ties and government control heighten governance risks. October 2017 Contents Ownership Snapshot 2 Tight family control and convoluted conglomerate structures preclude thorough investor analysis. Family Ownership 3 Uncertainty is compounded by looming succession questions surrounding aging patriarchs. Concerns Family Control 4 related to board entrenchment and infrequent board meetings leave minority investors at family firms Family Generational Succession 6 exposed to risks of decisions which heavily favor family groups. Financial Institutions 10 As a response to the Asian and global financial crises, enhanced banking regulations have strengthened Strong Board Oversight 11 independent oversight and ensured increased executive pay disclosure at Malaysian banks. Grandfathered Institutions 12 State Participation 13 Government-linked Companies (GLCs) are fundamental to Malaysia’s economy but we have identified Poor GLC Performance 14 concerns about poor performance, weak leadership structures and government intervention placing the Weak Leadership 16 national interest ahead of minority shareholders. Appendices Regulatory Developments 19 The MSCI Malaysia Index constituents underperform on corporate governance relative to both the MSCI Corporate Overview 21 Emerging Markets and MSCI ACWI Indexes as a whole. Board Overview 22 Gender Diversity 23 CORPORATE GOVERNANCE SCORE DISTRIBUTION Key Metric Overview 24 Best & Worst Scores 25 Ownership Diagrams 26 Top 5 Scores Bottom 5 Scores CIMB Group 7.6/10 IHH Healthcare 2.7/10 Laggards Leaders Alliance Financial Group 7.5/10 Genting Malaysia 2.4/10 Hong Leong Bank 7.4/10 Genting Plantations 1.7/10 Malayan Banking (Maybank) 7.3/10 YTL Power 1.4/10 0 1 2 3 4 5 6 7 8 9 10 RHB Bank 7.1/10 YTL Corporation 0.4/10 MSCI Malaysia Index MSCI Emerging Markets Index MSCI ACWI Index This report is based on the 41 constituents of the MSCI Malaysia ACWI Index as at 11 September AUTHORS 2017.
    [Show full text]
  • Sapura Energy Berhad (950894-T)
    2017 ANNUAL REPORT ANNUAL Sapura Energy Berhad (950894-T) (Formerly known as SapuraKencana Petroleum Berhad) Annual Report 2017 www.sapuraenergy.com OUR VISION Our Vision is to be the best entrepreneurially led, technically competent and most trusted global oil and gas company in the eyes of our customers, shareholders and most importantly, our empowered people. We will be guided by our honesty, trust and respect for all. We will achieve our business objectives by being safe, agile and professional to continuously strive to meet all of our stakeholders’ expectations. THE PEOPLE OF SAPURA ENERGY BERHAD WHAT’S INSIDE AT A GLANCE LEADERSHIP 1 Our Vision 22 Board of Directors 4 Facts At A Glance 24 Profile of Board of Directors 6 Global Footprint 36 Executive Committee 8 Health, Safety and Environment 38 Profile of Executive Committee 10 5-Year Group Financial Summary 12 Chairman’s Statement MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE OVERVIEW 44 President and Group Chief Executive 16 Group Corporate Structure Officer’s Statement 18 Corporate Information 46 Strategic Review & Outlook 19 Group Organisational Structure 48 Segmental Results 20 Financial Calendar 55 2017 Strategy At A Glance SUSTAINABILITY REPORT 58 Introduction 60 Message from The President and Group Chief Executive Officer 61 Materiality Matrix 62 Sustainable Operations 64 Nurturing and Developing Talent 70 Health, Safety and Environment EVENTS FINANCIAL STATEMENTS 74 Calendar of Events 100 Financial Statements CORPORATE GOVERNANCE ADDITIONAL INFORMATION 78 Statement on Corporate Governance 224 Analysis of Shareholdings 92 Statement on Risk Management and 228 Notice of Annual General Meeting Internal Control 231 Statement Accompanying Notice of 94 Report of Board Audit Committee Annual General Meeting 98 Additional Compliance Information • Proxy Form 99 Statement of Directors’ Responsibility Annual General Meeting th (950894-T) Sapura Energy Berhad (Formerly known as SapuraKencana Petroleum Berhad) Date : 25 July 2017, Tuesday 6 Time : 10.00 a.m.
    [Show full text]
  • BURSA MALAYSIA SECTORIAL INDEX SERIES Index Information
    BURSA MALAYSIA SECTORIAL INDEX SERIES Data as at 30 April 2020 The Bursa Malaysia Sectorial Index Series tracks the performance of all companies listed on the Main Market in the same sector classification. Index Information Index Universe Listed companies on the Main Market of Bursa Malaysia. Index Weightage Market capitalisation Index Calculation Real-time (60-second intervals) Review Dates Quarterly in March, June, September and December. Determined by its core business or from the main source of operating revenue as per Inclusion Criteria reported in the Annual Report. A capping on the market capitalisation is applied to prevent any single security from Capping exerting a disproportionate influence on the index. The imposed weight restriction on any capped index is subject to its components and size. FINANCIAL SERVICES Available from January 1970 PLANTATION PROPERTY CONSTRUCTION Available from January 1993 CONSUMER PRODUCTS & SERVICES INDUSTRIAL PRODUCTS & SERVICES Historical Data Available from January 2000 TECHNOLOGY ENERGY HEALTH CARE REAL ESTATE INVESTMENT TRUSTS Available from January 2014 TELECOMMUNICATIONS & MEDIA TRANSPORTATION & LOGISTICS UTILITIES Source: Bursa MIS. Past performance is no guarantee of future results. Index back-testing returns before the index launch date reflect hypothetical historical performance. Please see disclaimer for important legal information. BURSA MALAYSIA SECTORIAL INDEX SERIES Data as at 30 April 2020 13 Sectorial Indexes & Top 5 Constituents by Market Capitalisation Main Market Billion Market
    [Show full text]
  • SAPURA ENERGY BERHAD SAPURASAPURASAPURA ENERGYENERGY ENERGY BERHADBERHAD BERHAD (Company(Company No
    THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. THISTHISTHIS CIRCULARCIRCULAR CIRCULAR ISIS IMPORTANT IMPORTANTIS IMPORTANT ANDAND AND REQUIRESREQUIRES REQUIRES YOURYOUR YOUR IMMEDIATEIMMEDIATE IMMEDIATE ATTENTION.ATTENTION. ATTENTION. If youIf you are arein anyin any doubt doubt as toas theto thecourse course of actionof action to beto taken,be taken, you you should should consult consult your your stockbroker, stockbroker, bank bank manager,IfIf youyou areare solicitor, inin anyany doubtdoubt accountant asas toto the theor other coursecourse professional ofof actionaction to toadviser bebe taken,taken, immediately. youyou shouldshould consultconsult youryour stockbroker,stockbroker, bankbank manager,manager,manager,solicitor,solicitor,solicitor, accountantaccountant accountant oror otherotheror other professionalprofessional professional adviseradviser adviser immediately.immediately. immediately. Bursa Malaysia Securities Berhad takes no responsibility for the contents of this Circular, makes no representation as BursaBursaBursa MalaysiaMalaysia Malaysia SecuritiesSecurities Securities BerhadBerhad Berhad takestakes takes nono responsibilitynoresponsibility responsibility forfor theforthe the contentscontents contents ofof this thisof this Circular,Circular, Circular, makesmakes makes nono representationnorepresentation representation asas as to itsto accuracyits accuracy or completeness or completeness and and expressly expressly disclaims disclaims any any liability liability whatsoever whatsoever for anyfor any
    [Show full text]
  • Financial Statements
    ENERGY TO TRANSFORM LIVES INTEGRATED ANNUAL REPORT 2018 Energy is powerful. Not only does it spark one’s desire for innovation and growth, it also spurs one’s passion for excellence and success. Having proudly kept the nation progressing for the past seven decades, we shall continue to do so for the next seven decades and beyond. Happy 70th Anniversary INSIDE THIS REPORT About TNB Sustainability Statement 2 Our Domestic Businesses 66 About This Statement 3 Our International Footprint 67 Managing Sustainability 4 Our Vision, Our Mission and About Us 68 Sustainability Governance 5 Notice of the 29th Annual General Meeting 68 Supporting The United Nations Sustainable Development Goals (UN SDGs) 8 Statement Accompanying Notice of the 29th Annual General Meeting 70 Engaging Stakeholders 9 Administrative Notes of the 29th Annual General Meeting 71 What Matters to Us 72 Spirit of Sustainability • Our Governing Principles Our Business 74 Delivering With Purpose • The Future of Energy 12 Our Reporting Journey • Customer Centricity 13 Key Highlights 81 Environmental Stewardship 14 Key Financial Highlights • Minimising Environmental Impact 15 Six-Year/Period Group Financial Summary • Climate Change 16 Six-Year/Period Group Growth Summary 84 Embracing Relationship • Unlocking People Value FROM OUR LEADERS • Generative Safety Culture 17 Chairman’s Letter to Shareholders • Brightening Surrounding Communities 21 2018 Year in Review • Transforming Lives Through Education • Group Business Model • Our Strategy - Future Generation Sources - Grid of the
    [Show full text]
  • BURSA MALAYSIA SECTORIAL INDEX SERIES Index Information
    BURSA MALAYSIA SECTORIAL INDEX SERIES Data as at 30 June 2021 The Bursa Malaysia Sectorial Index Series tracks the performance of all companies listed on the Main Market in the same sector classification. Index Information Index Universe Listed companies on the Main Market of Bursa Malaysia. Index Weightage Market capitalisation Index Calculation Real-time (60-second intervals) Review Dates Quarterly in March, June, September and December. Determined by its core business or from the main source of operating revenue as per Inclusion Criteria reported in the Annual Report. A capping on the market capitalisation is applied to prevent any single security from Capping exerting a disproportionate influence on the index. The imposed weight restriction on any capped index is subject to its components and size. FINANCIAL SERVICES Available from January 1970 PLANTATION PROPERTY CONSTRUCTION Available from January 1993 CONSUMER PRODUCTS & SERVICES INDUSTRIAL PRODUCTS & SERVICES Historical Data Available from January 2000 TECHNOLOGY ENERGY HEALTH CARE REAL ESTATE INVESTMENT TRUSTS Available from January 2014 TELECOMMUNICATIONS & MEDIA TRANSPORTATION & LOGISTICS UTILITIES Source: Bursa MIS. Past performance is no guarantee of future results. Index back-testing returns before the index launch date reflect hypothetical historical performance. Please see disclaimer for important legal information. BURSA MALAYSIA SECTORIAL INDEX SERIES Data as at 30 June 2021 13 Sectorial Indexes & Top 5 Constituents by Market Capitalisation Main Market Billion Market 755 Companies 1,682 Capitalisation CONSTRUCTION CONSUMER PRODUCTS & SERVICES ENERGY FINANCIAL SERVICES No.of Constituents : 51 No.of Constituents : 164 No.of Constituents : 25 No.of Constituents : 31 Market Cap : RM 31.06 B Market Cap : RM 268.82 B Market Cap : RM 38.88 B Market Cap : RM 362.29 B 1) GAMUDA BHD 1) NESTLE (M) BHD 1) DIALOG GROUP BHD 1) MALAYAN BANKING BHD 2) IJM CORPORATION BHD 2) PPB GROUP BHD 2) YINSON HOLDINGS BHD 2) PUBLIC BANK BHD 3) SUNWAY CONSTRUCTION GROUP BERHAD 3) MR D.I.Y.
    [Show full text]
  • PNB Charts Its Strategy in the Downturn
    Headline PNB charts its strategy in the downturn MediaTitle The Edge Date 04 May 2020 Language English Circulation 25,910 Readership 77,730 Section Corporate Page No 12 ArticleSize 963 cm² Journalist JOSE BARROCK PR Value RM 49,743 PNB charts its strategy in the downturn PNB WEBSITE, COMPANIES' ANNUAL REPORTS BY JOSE BARROCK only other government-linked Considering the rights and organisation to have significant preference shares started trading tate-controlled unit trust exposure to oil and gas is PNB. PNB's equity investments on Oct 25,2017, a rough estimate fund Permodalan Nasion- Looking at its annual reports, puts PNB's investment in Veles- al Bhd (PNB) is building PNB and its related companies STRATEGIC COMPANIES STAKE (%) to's rights and preference shares up its resilience to the have a 60.18% stake in Velesto Malayan Banking Bhd 48.65 at above RM1 billion. increasingly challeng- Energy Bhd, 38.21% in Sapura En- For its year ended December Sime Darby Bhd 51.55 Sing operating environment — ergy Bhd, 12.82% in Bumi Armada 2019, Velesto registered a net tweaking its investment strate- Bhd, 10.11% in Petronas Gas Bhd, Sime Darby Plantation Bhd 56,65 profit of RM33.22 million from gies, diversifying its portfolio and 8.27% in Petronas Dagangan Bhd, Sime Darby Property Bhd 56.65 RM670.75 million in revenue. As at investing in new asset classes in 7.9% in Petronas Chemicals Group end-2019,the company had accu- SP Setia Bhd 49.8 the international financial mar- Bhd, almost 6.5% in MISC Bhd and mulated losses of RM2.15 billion.
    [Show full text]