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MARKET NEWS FBMKLCI CHART The FBMKLCI dropped 8.40pt (-0.5%) to close at 1,652.99 last Thursday. Me anwhile, Asian stocks fell for the sixth day, the longest losing streak since May, amid an uncertain outlook in global central banks’ stimulus. Japanese banks sank on conc ern the country will deepen its negative interest rate policy. The MSCI Asia Pacific Index lost 0.4% to 136.08. The gauge is trading at the lowest level in five weeks after valuations this month reached the highest in more than a year and investors placed a higher probability of less monetary stimulus globally. The FBMKLCI’s top losers were Maxis (-2.1%), Genting Malaysia (-1.8%) and IOI Corporation (-1.8%) while the top gainers were Hong Leong Financial Group (+2.7%), YTL Corporation (+0.6%) and Public Ban k (+0.2%). In the broader market, gainers outpaced losers 397 to 369 with 385 counters unchanged. Turnover was 1.33b shares valued at RM2.32b. Negative follow-through sent the index plunging on the back of a weaker ringgit against the US dollar. The FBMKLCI breached the previous immediate support at 1,6 60 and Source: Bursa Station closed lower at 1,652.99 last Thursday. The RSI continues to point lower, suggesting KEY INDICES selling pressure is here to stay, and approaching the oversold territory. We expect the Chg Prev Close YTD (%) index to retest the immediate support level of 1,648 in the near term. Support and (%) resistance levels are revised as follows: DJIA 18,123.80 (0.49) 4.01 S&P 500 2,139.16 (0.38) 4.66 Support: 1,648, 1,640 FTSE 100 6,710.28 (0.30) 7.50 CSI 300 3,238.73 (0.66) (13.19) Resistance: 1,692, 1,700 FSSTI 2,827.45 0.78 (1.92) On Friday, US stocks closed lower as the possibility of a US$14b fine against Deutsche HSCEI 9,595.73 0.56 (0.68) HSI 23,335.59 0.63 6.49 Bank weighed on big bank s and investors wrestled with lingering uncertainty about when JCI 5,267.77 0.04 14.69 the Fed will hike interest rates. The DJIA lost 88.68pt, or 0.49%, to settle at 18,123.80 KLCI 1,652.99 (0.51) (2.33) while the S&P500 edged lower by 8.1pt, or 0.38% to 2,139.16. The US Justice KOSPI 1,999.36 0.40 1.94 Department is seeking a US$ 14b civil settlement with Deutsche Bank over the German Nikkei 225 16,519.29 0.70 (13.21) financial institution's alleged role in artificially propping up the US housing market in the SET 1,479.07 1.07 14.83 lead up to the Great Recession. Meanwhile, Deutsche Bank said that it has no intent to TWSE 8,902.30 (0.43) 6.77 settle these potent ial civil claims anywhere near the number cited. Declining issues BDI 800.00 4.71 67.36 CPO (RM/mt) 2,565.00 1.26 3.22 outnumbered advancing ones on the NYSE by a 1.79-to-1 ratio. Nymex Crude WHAT’S IN THE PACK (US$/bbl) 43.46 1.00 1.38

Tenaga Nasional Ancom (ANC MK) TOP VOLUME (TNB MK/BUY/RM14.54/Target: RM16.00) Technical BUY on breakout with +20.5 % IBR alongside a periodical ICPT potential return Price Chg Vol mechanism will help ins ulate TNB from BUY on breakout with a target price of Stock (RM) (%) (‘000) Sanichi Technology 0.09 12.50 48,541 RM0.47 and stop-loss at RM0.345. Based sharp spike in coal prices. BhdSterling Progress Bhd 0.04 0.00 35,979 on the daily chart, ANC tried to penetrate Lb Aluminium Bhd 0.71 13.60 30,607 the breakout level a t RM0.39 and managed Sp Setia Bhd Group 3.23 (0.92) 28,162 to close above the BBI line last Thursday. Connectcounty 0.13 8.70 23,405 Holdings Bhd Eversendai Corporation (EVSD TOP GAINERS MK) Price Chg Vol Technical BUY on breakout with +37.6 % Stock (RM) (%) (‘000) potential return Palette Multimedia 0.07 27.2 5,637 WattaBhd Holdings Bhd 0.45 16.87 80 BUY on breakout with a target price of Bio Osmo Bhd 0.04 14.28 550 RM0.695 and stop-loss at RM0.41. Last Choo Bee Metal 2.12 13.99 1,013 Thursday, the stock close d above the BBI LbIndustries Aluminium Bhd Bhd 0.71 13.68 30,607 line, indicating upward potential in the near 0 term. TOP LOSERS Price Chg Vol CAM Resources (CAM MK) Stock (RM) (%) (‘000) Technical BUY on breakout with +27.5 % Pan Malaysia 0.22 (15.69) 553.1 potential return HoldingsXidelang BhdHoldings Ltd 0.03 (14.29) 1,560.0 BUY on breakout with a target price of Compugates Holdings 0.04 (12.50) 1,234.9 RM0.44 and stop-loss at RM0.295. Based BhdYfg Bhd 0.04 (12.50) 15.0 on the daily chart, CAM’s upsid e trend is Globaltec Formation 0.04 (11.11) 845.9 Source:Bhd Bloomberg intact if the stock can penetrate the

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TRADERS’ CORNER

Ancom (ANC MK) Technical BUY on breakout with +20.5 % potential return Last price : RM0.385 Target price : RM0.455, RM0.47 Support : RM0.35 Stop-loss : RM0.345 BUY on breakou t with a target price of RM0.47 and stop-loss at RM0.345. Based on the daily chart, ANC tried to penetrate the b reakout level at RM0.39 and managed to close above the BBI line last Thursday. Aggressive traders can buy at the breakout level of RM0.39 and set the short-term target at RM0.455. Currently, the DMI shows buying momentum has overcome selling momentum. This is supported by an uptick in the RSI, indicating the positive momentum will strengthen in the near term. Expected time frame: 2 weeks to 2 months.

Eversendai Corporation (EVSD MK) Technical BUY on breakout with +37.6 % potential return Last price : RM0.47 Target price : RM0.625, RM0.695 Support : RM0.415 Stop-loss : RM0.41 BUY on breakout with a target price of RM0.695 and stop-loss at RM0.41. Last Thursday , the stock closed above the BBI line, indicating upward potential in the near term. This is supported by the 7-day EMA which has crossed above the 21-day EMA , indicating a bullish signal. This is consistent with the uptick in the RSI and a bullish crossover in the MACD, which suggest stronger buying momentum ahead. Currently, the DMI is on the verge of making a golden cross to the positive signal. We peg our target prices at RM0.625 and RM0.695 in the near term. Expected time frame: 2 weeks to 2

months.

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TRADERS’ CORNER CAM Resources (CAM MK) Technical BUY on breakout with +27.5 % potential return Last price : RM0.335 Target price : RM0.395, RM0.44 Support : RM0.30 Stop-loss : RM0.295 BUY on breakout with a target price of RM0.44 and stop-loss at RM0.295. Based on the daily chart, CAM’s upside trend is intact if the stock can penetrate the RM0.345 level. Positive r eadings from the RSI show buying momentum has overcome selling momentum. This is supported by a bullish crossover in the DMI and the MACD. We peg our targets at RM0.395 and RM0.44 in the near term. Expected time frame: 2 weeks to 2 months.

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CORPORATE NEWS AEON Co: Sees encouraging signs post-GST, confident of growth. Aeon Co (M) Bhd expects the second half of this year and 2017 to remain challenging, but it remains confident of charting business growth for the group. Speaking to reporters at a briefing today, Aeon executive director Poh Ying Loo said although consumer sentiment remains weak, the impact of the goods and services tax (GST) — implemented in April 2015 — has lessened, compared with a year ago. "The second half and next year will still be challenging. However, we see some encouraging signs, post- GST. There will definitely be growth [for the company]," he said. Poh said Aeon has no plans to retrench staff or close any of its malls, despite the challenging times ahead. (Source: The Edge Financial Daily) AirAsia: May advance aircraft deliveries to meet strong market demand . AirAsia Bhd is short of "eight to nine" aircraft until 2017 as it strives to meet market demand for its services by advancing aircraft deliveries, said the low cost carrier's f ounder Tan Sri Tony Fernandes. In a reception ceremony for the airline's first Airbus A320neo, the AirAsia Group chief executive officer told the press that the group is likely to advance its aircraft orders to meet these demand. "The demand is very strong , AirAsia is probably having its best growth in a lot of time. All of the countries that we operate in are reporting significant growth. Indonesia is doing fantastically well, having an 83% load factor (for second quarter ended June 30, 2016)," he said. (S ource: The Edge Financial Daily) Bintai Kinden: To undertake RM32.5m sub-contract works in Vietnam . Bintai Kinden Corp Bhd’s sub-subsidiary accepted a letter of intent from Riverview Company Ltd to undertake a RM32.56m sub-contract involving works on mechanical, electrical, plumbing and fire-fighting, in Vietnam. In a filing with Bursa Malaysia today, Bintai Kinden said Bintai Kindenko (Vietnam) Co Ltd would carry out the contract for a residential project called Project Shining that is expected to be comp leted in Oct 2017. “The project will not have any effect on the company’s issued and paid up share capital and is not expected to have any material impact on the group’s earnings, earnings per share, net assets per share and gearing for the financial year ending March 31, 2017. However, it is expected to contribute positively towards the future earnings of the group,” it said. (Source: The Edge Financial Daily)

Chin Hin: Acquires Johor land for RM22m. Chin Hin Group Bhd's indirect wholly-owned unit Sage Evergreen Sdn Bhd (SESB) plans to acquire a RM22m freehold land in Kota Tinggi, Johor, to cater to the group's production expansion plans. In a filing with Bursa Malaysia, Chin Hin said SESB entered into a sale and purchase agreement with TKW Capital Sdn Bhd today for the planned purchase of the 20.37ha land. Chin Hin said its existing precast concrete and autoclaved aerated concrete (AAC) blocks plant at Serendah, Selangor is running at its maximum capacity. "Due to the insufficient capacity and growing deman d as a result of higher adoption rate of AAC blocks and strong order books for precast concrete, the group has embarked on a production expansion plan to cater to rising needs. (Source: The Edge Financial Daily)

EcoFirst: To embark on RM5b Ampang Ukay project. SMALLISH property firm EcoFirst Consolidated Bhd has revised upwards the gross development value (GDV) of its Ampang Ukay flagship project to over RM5b from RM3b previously with the construction of the first phase expected to be launched in the fourth quarter of this year. Group CEO Datuk Tiong Kwing Hee says the first phase will be a mixed residential-commercial development named Liberty Arc @ Ampang Ukay. “We are preparing to start construction,” he tells StarBizWeek.. (Source: The Star)

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Indra: Bags RM154m MRT 2 contract. Indra, one of the leaders in ticketing systems, has won a €33.2m (RM154.41m ) contract to implement its ticketing technology on the Sungai-Buloh-Serdang-Putrajaya Mass Rapid Transit (MRT) line or MRT 2, the second subway line in the Klang Valley. Mass Rapid Transit Corporation Sdn Bhd (MR T Corp) awarded the contract to Indra, in a consortium with a local company Rasma Corporation. Indra and Rasma presented the best bid in technical, commercial and economic terms, out of five other international consortia. In the statement today, Indra said it will handle the engineering, design, development, testing and commissioning of all ticketing technology (AFC-Automated Fare Collection) for MRT 2, also known as the SSP Line. This contract includes systems and machines for manual and automatic ticket s ales, access control systems, software, the central ticketing system, economic management systems and station control equipment. (Source: The Edge Financial Daily)

Malaysia Smelting Corp: Better times seen for this year . The sharp recovery in the global ti n prices is a boon for tin miner and metal producer, Malaysia Smelting Corp Bhd (MSC). Its share price in recent months has been on an uptrend touching a high of RM3.26 on Sept 8 from a low of RM2.21 on Feb 3 before settling two sen higher at RM3.20 on Thursday. Year-to-date, the price of tin has risen by over 30%. The metal is currently trading at US$19,200-US$19,270 per tonne range on the London Metal Exchange (LME) and Tin Market (KLTM). According to industry observers, the fortunes of MSC a re set to take a turn for the better this year after experiencing a 6-1/2 year slump in global tin prices. (Source: The Star)

MyEG: Buys 7 storeys of Empire City for RM44.3m cash. My EG Services Bhd (MyEG) plans to buy seven storeys of stratified parcels f or office use at Empire City @ Damansara for RM44.29m cash. In a filing with Bursa Malaysia today, MyEG said it has on Sept 15 entered into seven sale and purchase agreements with Cheerful Effect Sdn Bhd, Lee Hong Poh and Lim Wan Lee to acquire seven store ys of stratified parcels designated for office use within a 45-storey corporate office tower identified as Iconic Office (Block N) at Empire City @ Damansara. MyEG said the acquisition allows the group to centralise its operations and relocate all employee s under one roof to improve efficiency and operational productivity. The purchase consideration for the acquisition was agreed based on a willing-buyer, willing-seller basis and after considering the market value of the previous transactions of the same of fice block and the current property market condition. (Source: The Edge Financial Daily)

Petronas: Guarantee on Canada gas plant not sought. Prime Minister Justin Trudeau’s government will decide on final approval of the Pacific NorthWest gas project witho ut any guarantee Petroliam Nasional Bhd. will actually proceed, Canada’s resources minister said. The $11b liquefied natural gas plant in British Columbia remains under political review while similar proposals are being scaled back or delayed amid low pric es. Trudeau’s government has committed to a decision by Oct. 2 and is balancing a stated desire to grow the economy with toughening environmental regulations and lowering carbon emissions. “I don’t think we’re in a position to get guarantees from the compa ny,” Natural Resources Minister Jim Carr said in a recent interview. “We know other LNG projects in B.C. that are not proceeding. Those decisions will be made by boards and by executives.” (Source: The Edge Financial Daily )

Sasbadi: Delivers on promised applied learning centre. Two years after it was listed in July 2014, Sasbadi Holdings Bhd is finally establishing its own applied learning centre, honouring a promise made to investors during its initial public offering days Its unit Sasbadi Learning Soluti ons Sdn Bhd is going to acquire Distinct Motion Sdn Bhd, which is principally involved in the business of conducting learning activities related to gadgets, automation systems and robotics technology. It is buying over Distinct Motion from Loh Kah Fai and Ainaa Atikah Rosli for RM850,000. Distinct Motion's unit Distinct Element Sdn Bhd is operating a centre known as Little Botz in Atria Shopping Gallery, Petaling Jaya, which is conducting classes on robotics technology. For the financial year ended Dec 31, 2015 (FY15), Distinct Motion recorded audited net loss of RM42.7m. (Source: The Edge Financial Daily)

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Titijaya: Fixes private placement share price at RM1.35 apiece. Titijaya Land Bhd has fixed the issue price for the placement of 36.67m placement shares at RM1.35 per share, which would raise as much as RM49.5m for the group. "The issue price represents a discount of approximately 14.72 sen or 9.83% to the five-day volume weighted average market price, including yesterday (Sept 14), of RM1.4972 per share," it told Bursa Malaysia in a filing today. The shares are being placed out to identified third party investors to raise funds for the expansion of its property development business, and for working capital. The property developer had, on June 13, proposed the private placement of up to 10% of its enlarged issued and paid-up share capital, or 37.33m new ordinary shares of 50 sen each. (Source: The Edge Financial Daily)

S E C T O R Aviation: Malaysia confirms Tanzania debris is from flight MH370. Malaysia's Ministr y of Transport has confirmed that the debris found in Tanzania is from the ill-fated Malaysia Airlines flight MH370. In a statement today, Minister of Transport Datuk Seri said experts from the Australian Transport Safety Bureau (ATSB) have recently completed their examination of the large piece of debris discovered on the island of Pemba, off the coast of Tanzania, on June 30. Clues, he shared, including several part numbers, physical appearance, dimensions, as well as construction, have con firmed the piece to be an inboard section of a Boeing 777 outboard flap that was manufactured on Jan 23, 2002, and delivered for the MH370 aircraft on May 31 that same year. He said an Italian parts manufacturer have also confirmed that all numbers on the recovered part relates to the same serial number outboard flap that was shipped to Boeing as line number 404, the aircraft line number that was delivered to Malaysian Airlines and registered as 9M-MRO (MH370). (Source: The Edge Financial Daily)

Plantation: Palm oil output down on El Nino. Palm oil production in Malaysia will probably drop 10% this year after El Nino cut yields in the first half, according to Plantation Industries and Commodities Minister Datuk . Annual output will be lower eve n after a recovery in production in the second half, Mah says in an interview in Putrajaya. The world’s second-largest grower produced 19.96m tonnes of crude palm oil in 2015, according to Malaysian Palm Oil Board data. A 10% drop would mean supply of about 17.96m tonnes, the lowest since 2010, the data show. Malaysian inventories slumped to the lowest in more than five years in August as exports surged ahead of festivals in top consumers India and China. Yields will trail last year’s even as production rec overs, Franki Anthony Dass, managing director of plantations at Sime Darby Bhd, the world’s biggest grower of oil palms by acreage, says. While the 2015-16 El Nino has ended, it was the strongest since the record event of 1997-98 and parched palm oil plantations in Malaysia. (Source: The Star)

E C O N O M I C S

Khazanah: Appoints Johari Abdul Ghani as director: Malaysian state-owned investment arm Khazanah Nasional Bhd appointed Finance Minister II Datuk Johari Abdul Ghani as a director. Johari replaces former Kha zanah director Datuk Seri Ahmad Husni Mohamad Hanadzlah. In a statement today, Khazanah said Johari's appointment was made at its 80th board of directors meeting yesterday. Ahmad Husni was former finance minister II"Datuk Johari assumed his current positio n as minister of finance II on 27 June 2016. He was previously deputy minister of finance. He started his career at international accounting firm Peat Marwick & Co (now known as KPMG) as an auditor. "He went on to hold senior key positions in several public-listed companies and was managing director in companies involved in the food and beverage, agriculture and manufacturing industries," Khazanah said. (Source: The Edge Financial Daily)

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FROM THE REGIONAL MORNING NOTES... Tenaga Nasional: Passing On Higher Coal Prices Through Tariff; Neutral On TNB (TNB MK/BUY/RM14.54/Target: RM16.00) The IBR alongside a periodical ICPT mechanism will help insulate TNB from a sharp spike in coal prices. The higher coal prices (vs 1H16) are expected to offset savings from persistently low LNG prices and this suggests the absence of a tariff rebate in the upcoming Dec 16 ICPT review. Maintain BUY with a target price of RM16.00. An active capital structure could help lift net dividend yields to 4.6-6.4%.

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