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KAMCO Research Boursa Kuwait Daily Report February 15, 2018 Sector Weight by Market Cap Market Capitalization - Sector Returns Insurance Financial Services 1% Market Cap. DTD DTD MTD YTD Real Estate 8% Technology 8% 0.1% (KWD Mn) % Chg % Chg % Chg Oil & Gas Boursa Kuwait 27,826.1 ▲ 0.3% (0.5%) 2.1% 1% Oil & Gas 204.5 ▼ (0.1%) (1.5%) 0.9% Basic Materials Basic Materials 862.6 ▼ (0.0%) 0.7% 5.3% 3% Industrials 3,196.6 ▼ (0.9%) (5.2%) (2.0%) Consumer Goods 713.4 ▲ 0.2% (3.1%) (5.8%) Banks Industrials Health Care 188.1 ═ 0.0% (5.9%) (4.4%) 52% 11% Consumer Services 538.8 ▲ 0.2% (6.5%) (8.9%) Consumer Goods Telecommunications 2,895.6 ▼ (0.0%) (4.8%) 1.7% Telecom 3% 10% Banks 14,494.5 ▲ 0.7% 1.7% 4.0% Insurance 321.6 ▲ 0.8% (0.2%) (8.7%) Consumer Health Care Services 0.7% Real Estate 2,157.5 ▲ 0.6% 2.3% 7.3% 2% Financial Services 2,226.4 ▼ (0.5%) (2.0%) (1.0%) Technology 26.6 ▲ 0.9% 12.2% 15.7% Top 10 Companies by Market Capitalization Market Breadth 50 37 69 Company Name Market Cap. P/E ROE* Benchmark Return Closing DTD DTD MTD YTD (Mn KWD) (X) (%) Value Chg % Chg % Chg % Chg Price Index 6,764.28 (13.1) (0.2%) 1.1% 5.6% 1- National Bank of Kuwait 4,497.3 14.3 10.6% Weighted Index 410.66 1.0 0.2% (0.3%) 2.3% 2- Kuwait Finance House 3,413.3 19.0 9.7% Kuwait 15 Index 946.48 4.7 0.5% 0.6% 3.5% 3- Zain 1,960.2 12.7 10.6% Market Cap (KWD Mn) 27,826 79.2 0.3% (0.5%) 2.1% 4- Ahli United Bank - Bahrain 1,587.3 8.7 17.0% Index Performance relative to Volume 450 1,200 5- Agility (PWC Logistics) 1,119.7 17.2 6.9% 1,100 6- Boubyan Bank 1,091.9 24.0 12.5% 1,000 7- Gulf Bank 749.8 16.2 7.8% 900 8- Commercial Bank of Kuwait 724.4 19.4 6.0% 420 800 9- Mabanee Co. 682.9 14.0 13.2% 700 600 10- Burgan Bank 658.5 9.0 10.8% Index Weighted 500 390 400 Total 16,485 14.37 10.5% 300 Volumetraded (shr.mil.) *: ROE is calculated based on TTM 9M-2017 net profit & shareholders' equity as of 30-September-17 200 100 Top Movers and Most Active Stocks 360 0 Jul-17 Apr-17 Oct-17 Jan-18 Jun-17 Feb-17 Feb-18 Sep-17 Mar-17 Dec-17 Aug-17 Nov-17 Close Change Percent May-17 Today's Top % Gainers (KWD) (KWD) Change Kuwait Real Estate Holding Co. 0.030 0.005 19.5% Market Trading Data and Volatility Sanam Real Estate Co. 0.033 0.005 17.9% National International Holding Co. 0.068 0.006 9.7% Trading Indicators Today's DTD DTD Average Daily Kuwait Foundry Co. 0.235 0.013 5.9% Value Chg % Chg YTD 2018 YTD 2017 Ahli Bank of Kuwait 0.313 0.017 5.7% Volume (Shrs Mn) 52.3 (13.1) (20.0%) 105.3 600.5 Value Traded (KWD Mn) 9.1 (0.8) (7.9%) 13.6 53.3 Close Change Percent No. of Trades 2,401 (187) (7.2%) 3,901 10,344 Today's Top % Losers (KWD) (KWD) Change Kuwait Finance & Investment Co. 0.040 (0.005) (11.9%) MENA Real Estate Co. 0.032 (0.004) (10.0%) Market Volatility** Volatility Since January: Real Estate Trade Centers Co. 0.031 (0.003) (7.5%) 2017 2016 2015 2014 2013 United Projects Group 0.560 (0.040) (6.7%) Price Index 11.0% 9.7% 9.3% 9.6% 10.1% GFH Financial Group 0.104 (0.006) (5.5%) Weighted Index 10.7% 10.7% 10.2% 10.3% 9.8% **: Annualized Standard Deviation of Daily Returns Close Percent Volume Close Percent Value Today's Most Active by Volume Today's Most Active by Value (KWD) Change (Shares) (KWD) Change (KWD) Ithmaar Bank 0.046 1.5% 10,341,323 National Bank of Kuwait 0.760 1.1% 1,547,595 Alimtiaz Investment Group 0.144 (1.4%) 4,606,794 Gulf Bank 0.246 0.8% 997,751 Gulf Bank 0.246 0.8% 4,047,086 Kuwait Finance House 0.592 0.3% 958,307 MAZAYA Holding Co. 0.110 0.0% 2,830,775 Alimtiaz Investment Group 0.144 (1.4%) 667,856 National Bank of Kuwait 0.760 1.1% 2,040,182 Ithmaar Bank 0.046 1.5% 477,165 Source: Boursa Kuwait, KAMCO Research KAMCO Research KUWAIT 15 INDEX Data Thursday, February 15, 2018 Closing Price Market Capitalization Valuation Multiples YTD-18 Trading Indicators DTD Weight in D-T-D Weight in YTD-18 Volume Value Kuwait 15 Index Constituents KWD Chg. KWD Mn Boursa P/E (X) P/BV (X) Yield Beta ROE Return Kuwait 15 Price (Mn Shrs) (KWD Mn) (KWD) Kuwait Return ▲ National Bank of Kuwait 0.760 0.008 1.1% 4,497 25.9% 16.2% 14.3 1.52 3.9% 1.35 10.6% 4.4% 74.49 56.11 ▲ Kuwait Finance House 0.592 0.002 0.3% 3,413 19.6% 12.3% 19.0 1.85 2.8% 1.36 9.7% 2.8% 103.01 61.40 ▲ Zain 0.453 0.001 0.2% 1,960 11.3% 7.0% 12.7 1.35 7.0% 1.54 10.6% 4.4% 79.16 37.66 ▲ Agility (PWC Logistics) 0.840 0.004 0.5% 1,120 6.4% 4.0% 17.2 1.18 3.1% 1.58 6.9% 4.7% 18.22 15.51 ═ Boubyan Bank 0.480 0.000 0.0% 1,092 6.3% 3.9% 24.0 3.00 1.2% 1.14 12.5% 10.1% 19.89 9.34 ▲ Gulf Bank 0.246 0.002 0.8% 750 4.3% 2.7% 16.2 1.27 2.7% 0.73 7.8% 3.4% 54.68 13.27 ▲ Mabanee Co. 0.729 0.004 0.6% 683 3.9% 2.5% 14.0 1.84 1.4% 1.18 13.2% 3.4% 7.88 5.76 ▲ Commercial Bank of Kuwait 0.440 0.010 2.3% 724 4.2% 2.6% 19.4 1.16 3.4% 0.57 6.0% 10.0% 0.36 0.15 ▼ Burgan Bank 0.306 (0.006) (1.9%) 658 3.8% 2.4% 9.0 0.97 1.6% 1.08 10.8% (0.3%) 11.57 3.62 ▲ Ahli Bank 0.313 0.017 5.7% 507 2.9% 1.8% 14.6 0.90 3.5% 0.44 6.2% 7.9% 1.33 0.40 ▼ Human Soft Holding Co. 3.448 (0.152) (4.2%) 421 2.4% 1.5% 15.6 8.82 4.6% 0.16 56.6% (7.8%) 3.78 14.04 ▼ Kuwait Projects Co. (Holding) 0.304 (0.001) (0.3%) 448 2.6% 1.6% 16.1 0.99 7.5% 1.14 6.1% (9.3%) 4.42 1.36 ═ Kuwait Telecommunication Co. 0.758 0.000 0.0% 379 2.2% 1.4% 9.7 2.43 1.3% 0.66 25.0% (5.1%) 1.08 0.84 ═ ALAFCO Aviation Lease & Finance Co.* 0.380 0.000 0.0% 362 2.1% 1.3% 11.0 1.26 1.3% 0.89 11.4% 1.3% 3.60 1.35 ▼ Qurain Petrochemicals Industries Co. 0.343 (0.003) (0.9%) 377 2.2% 1.4% 10.8 1.07 3.0% 0.88 9.9% 4.3% 10.83 3.75 Subtotal- Kuwait 15 Index 946.48 4.69 0.50% 17,391 100% 63% 15.0 1.49 3.52% 9.9% 3.5% 394.31 224.55 Remaining of the Market 10,435 37% 13.6 0.93 6.85% 6.8% 3,080.42 224.86 Source: KAMCO Research KAMCO Research Boursa Kuwait Daily Bulletin Boursa Kuwait Daily Bulletin Thursday, February 15, 2018 Valuation Multiples Price (KWD) Daily Trading Data YTD-18 YTD-18 Company Reuters Trailing Trailing Dividend DTD MKT Cap 52 Weeks 52 Weeks Volume Value Capital Ticker P/E (X) P/BV (X) Yield Beta Closing Change (KWD Mn.) High (KWD) Low (KWD) Return # (Shrs.) (KWD) Turnover ROE 18 19 20 21 11 13 16 27 28 15 24 25 32 22 ═ Senergy Holding Co. SENE.KW NM 0.55 0.00% 1.26 0.038 0.000 7.6 0.062 0.029 8.6% 0 0 1.5% NM ═ Independent Petroleum Group IPGK.KW 9.7 0.62 7.31% 0.33 0.390 0.000 59.4 0.450 0.310 (2.3%) 0 0 0.8% 6.4% ═ National Petroleum Services Co. NAPS.KW 8.0 2.81 9.89% 0.20 0.795 0.000 79.5 1.680 0.644 0.4% 0 0 0.6% 35.3% ═ The Energy House Co. ENER.KW NM 0.69 0.00% 0.66 0.028 0.000 21.0 0.053 0.025 (2.8%) 450 13 0.1% NM ▼ Gulf Petroleum Investment GPIK.KW NM 0.42 0.00% 0.99 0.031 (0.000) 18.9 0.057 0.026 5.8% 183,420 5,557 11.3% NM ═ Burgan Co.