Automotive
Research Title 
Berjaya Auto : 11 December 2015 Look to new launches beyond this weak quarter 
Berjaya Auto : 11 September 2015 Volume driven growth 
Berjaya Auto : 12 June 2015 Expect easing margin in upcoming year 
Berjaya Auto : 23 March 2015 High on expectations 
MBM : 2 December 2015 Under Review 
MBM : 2 March 2015 Boosted by Perodua 
MBM : 16 January 2015 Myvi facelift to boost sales 
Tan Chong : 20 November 2015 Penetrating Myanmar 
Tan Chong : 19 November 2015 A tad too early to call a bottom 
Tan Chong : 1 September 2015 Uninspiring earnings in 1HFY15 
Tan Chong : 14 May 2015 Signs of recovery in sight 
Tan Chong : 26 February 2015 Poor end to a rough year 
UMW : 27 November 2015 Earnings de-rating 
UMW : 27 August 2015 Disappointing performance across the board 
UMW : 27 May 2015 Underperformance on lower Toyota sales volume 
UMW : 15 May 2015 No Adverse Impact from Recall 
UMW : 27 February 2015 Decent dividend despite challenging times
Aviation
Research Title 
AirAsia : 27 November 2015 Good showing by MAA  
AirAsia : 2 October 2015 IAA lifted out negative equity 
AirAsia : 15 September 2015 Headwinds are abating 
AirAsia : 21 August 2015 IAA and PAA resolutions key to lifting overhang 
AirAsia : 28 July 2015 Cost savings from MRO outsourcing 
AirAsia : 16 July 2015 Valuation remains attractive 
AirAsia : 27 February 2015 Yield growth outpaced by higher costs. 
AirAsia : 27 January 2015 Fuelling Travel Demand Without Surcharges 
AirAsia : 23 January 2015 Fairer skies ahead 
AirAsia : 7 January 2015 Expect confidence to return from 2Q15 onwards 
AirAsia X : 26 November 2015 On route to breaking-even operationally in 4Q 
AirAsia X : 23 September 2015 Launching unique routes could be AAX’s game changer 
AirAsia X : 20 August 2015 Turnaround measures progressing well, expecting better 2H15 
AirAsia X : 30 March 2015 AAX Turnaround Resting on Management's Shoulders 
AirAsia X : 25 February 2015 Achieved core net profit in 4Q14 
AirAsia X : 4 February 2015 Rights Issuance to Strengthen Company 
Malaysia Airport : 11 December 2015 Unfazed by Malaysia Airlines Capacity Cuts 
Malaysia Airport : 28 October 2015 Earnings rebound in 3QFY15 
Malaysia Airport : 11 August 2015 July Passenger Traffic Growth Highest in 16 Months 
Malaysia Airport : 31 July 2015 Depreciation and finance costs weigh on earnings 
Malaysia Airport : 11 June 2015 International traffic growth turned positive 
Malaysia Airport : 15 May 2015 April marks second consecutive month of growth 
Malaysia Airport : 6 May 2015 Earnings under pressure from rising costs 
Malaysia Airport : 29 April 2015 Contract Win in Qatar and Updates on Mitsui Outlet Park KLIA 
Malaysia Airport : 25 March 2015 Divestment of 10% Stake in Delhi International Airport 
Malaysia Airport : 16 February 2015 Higher Costs from the Start-up of KLIA2   
Malaysia Airport : 14 January 2015 Passenger Growth to Decelerate in 2015
Banks
Research Title 
Affin : 30 November 2015 High provisions and OPEX in 9MFY15 dampened earnings 
Affin : 18 August 2015Lower provisions for loan impairment in 2QFY15 
Affin : 21 May 2015Earnings Dragged by High Provisions for Loan Losses 
Affin : 10 March 2015Limited Rerating Catalyst in the Near Term 
Alliance Financial Group : 30 November 2015 Expect More Pressure on Funding Cost Ahead 
Alliance Financial Group : 19 August 2015Targeting Higher NII to Raise ROE 
Alliance Financial Group : 28 May 2015To Focus on Risk Adjusted Returns on Loans 
Alliance Financial Group : 17 February 2015Core Earnings In Line with Expectation 
AMMB Holdings : 20 November 2015Top Line Growth Remained Uninspiring 
AMMB Holdings
 : 20 August 2015Subdued Loan Growth Due To Ongoing Portfolio Rebalancing 
AMMB Holdings : 25 May 2015Asset Quality Holding Up in 4QFY15 
AMMB Holdings : 13 February 2015Interest Margin Compromised Due to Portfolio Rebalancing 
CIMB : 26 November 2015FY15 KPI Targets For ROE and CI Ratio Likely Not Achieved 
CIMB : 2 November 2015Pressure on Niaga's asset quality and NIM to persist in the near term 
CIMB : 22 October 2015Still no clear sign of improvement in Niaga's asset quality 
CIMB : 1 September 2015Slower Loan Growth with provisions likely to remain high in 2HFY15 
CIMB : 22 July 2015Domestic Loan Momentum Likely to be slower in 2HFY15 
CIMB : 21 July 2015CIMB Thai Earnings Dampened by High Provisions 
CIMB : 21 May 2015An Improved Quarter with Lower Provisions 
CIMB : 18 May 2015MSS not unexpected 
CIMB : 28 April 2015To incur restructuring cost in FY15 
CIMB : 23 April 2015High provisioning for Niaga likely to continue in 2QFY15 
CIMB : 2 March 2015Expect Better Earnings Ahead with Lower Allowance for Loan Impairment 
CIMB : 13 February 2015More Coal-related Loan Provisions at CIMB Niaga in 1QFY15 
CIMB : 10 February 2015Committed in Initiatives to Lower its CI Ratio  
CIMB : 22 January 20154QFY14 Earnings Likely to be weak 
Hong Leong Bank : 18 November 2015Slower contribution from Bank of Chengdu (BOC) 
Hong Leong Bank : 27 August 2015Stable earnings and resilient asset quality 
Hong Leong Bank : 27 May 2015Resilient asset quality and stronger loan momentum 
Hong Leong Bank : 26 February 2015Healthy asset quality and liquidity 
Hong Leong Financial Group : 18 November 2015Insurance earnings lifted by higher interest rates 
Hong Leong Financial Group : 27 August 2015Stronger insurance business in 4QFY15 
Hong Leong Financial Group : 6 July 2015Higher earnings from insurance business in 4QFY15 
Hong Leong Financial Group : 27 May 2015Lower earnings from Insurance business due to higher actuarial reserves 
Hong Leong Financial Group : 2 April 2015Core stability and peripheral growth 
Maybank : 27 November 2015Strong revenue growth and improved CI ratio in 3QFY15 
Maybank : 28 August 2015Strong net income growth and capital position 
Maybank : 29 May 2015Strong NOII growth and healthy capital position 
Maybank : 27 February 2015A stronger performance in 2HFY14 
Maybank : 9 February 2015Operating environment remains challenging 
Public Bank : 23 October 2015NIM improved on the back of stronger loan growth 
Public Bank : 31 July 2016Slower loan momentum in 2QFY15 
Public Bank : 21 April 2015On track to meet FY15 KPI targets 
Public Bank : 6 February 2015Pressure on funding cost is expected to continue 
RHB Capital : 1 December 2015Growth in non fund based income continues to be slow 
RHB Capital : 28 October 2015Cost savings from CTS to translate into 19.2 months payback 
RHB Capital : 8 September 2015Dilution to EPS and ROE higher than expected due to lower Rights Issue Price 
RHB Capital : 1 September 2015Stronger traction for CASA in 2QFY15 
RHB Capital : 1 June 2015Good traction for IGNITE 2017 
RHB Capital : 14 April 2015Restructuring to strengthen capital structure and improve tax efficiency 
RHB Capital : 2 March 2015On track with progress of IGNITE 2017
Cement
Research Title 
LaFarge : 19 November 2015 Topline growth affected by intense competition 
LaFarge : 21 September 2015 Acquisition of Holcim Malaysia 
LaFarge
 : 28 August 2015 Changing Competition Landscape 
LaFarge : 21 May 2015 Flattish 1QFY15 earnings performance 
LaFarge : 27 February 2015 A tough year
Conglomerate
Research Title 
Berjaya Auto : 11 December 2015 Look to new launches beyond this weak quarter 
Berjaya Auto : 11 September 2015 Volume driven growth 
Berjaya Auto : 12 June 2015 Expect easing margin in upcoming year 
Berjaya Auto : 23 March 2015 High on expectations 
MBM : 2 December 2015 Under Review 
MBM : 2 March 2015 Boosted by Perodua 
MBM : 16 January 2015 Myvi facelift to boost sales 
Tan Chong : 20 November 2015 Penetrating Myanmar 
Tan Chong : 19 November 2015 A tad too early to call a bottom 
Tan Chong : 1 September 2015 Uninspiring earnings in 1HFY15 
Tan Chong : 14 May 2015 Signs of recovery in sight 
Tan Chong : 26 February 2015 Poor end to a rough year 
UMW : 27 November 2015 Earnings de-rating 
UMW : 27 August 2015 Disappointing performance across the board 
UMW : 27 May 2015 Underperformance on lower Toyota sales volume 
UMW : 15 May 2015 No Adverse Impact from Recall 
UMW : 27 February 2015 Decent dividend despite challenging times
Constructions
Research Title 
Gamuda : 21 December 2015Earnings upgrade on Tollways and Toa Payoh 
Gamuda : 18 August 2015What’s Next After the PTMP PDP? 
Gamuda : 11 August 2015Competitive Edge in Transport Infrastructure 
Gamuda : 26 June 2015Seals deal to acquire Singapore land 
Gamuda : 24 June 2015Still in transition period 
Gamuda : 27 March 2015A gem losing its shine 
Hock Seng Lee : 27 November 20159MFY15 Earnings Drab 
Hock Seng Lee : 27 August 20152QFY15 earnings dragged by lower margins 
Hock Seng Lee : 22 May 2015A good start to the year 
Hock Seng Lee : 2 March 2015Eyes on RM800m Kuching wastewater project 
IJM Corporation : 25 November 2015Inspiring Results 
IJM Corporation : 5 November 2015Still a Strong Contender 
IJM Corporation : 21 September 2015Equatorial job 
IJM Corporation : 26 August 2015Higher Infrastructure Contributions 
IJM Corporation : 22 July 2015Third highway disposal in three years 
IJM Corporation : 17 June 2015Extension of Kuantan Port concession 
IJM Corporation : 27 May 2015Lower contribution from all segments   
IJM Corporation : 22 April 2015JV in The Light Waterfront 
IJM Corporation : 2 March 2015Stronger earnings trajectory ahead 
IJM Corporation : 27 February 2015Mammoth contract win 
IJM Corporation : 5 January 2015A surprise job win 
MRCB : 20 November 2015Temporary blip? 
MRCB : 7 September 2015Awarded PDP role for RM9bn LRT job 
MRCB : 26 August 2015Transit-oriented development (ToD) leads the foray 
MRCB : 9 July 2015Joint development of ICQS project 
MRCB : 25 June 2015Awarded contracts by Khazanah subsidiary 
MRCB : 22 May 2015TOD to lead future growth 
MRCB : 23 April 2015Monetising Nu Sentral 
MRCB : 8 April 2015Acquiring German embassy land for RM259.2m 
MRCB : 24 February 2015Well positioned to regain its upward earnings trajectory 
Muhibbah Engineering : 29 September 2015PIPC Visit 
Muhibbah Engineering : 4 September 2015JV awarded RM949.6m contract 
Muhibbah Engineering : 1 September 2015Sluggish Construction Contribution 
Muhibbah Engineering : 20 August 2015Higher focus on O&G construction 
Muhibbah Engineering : 31 July 2015Awarded RM158.2M EPCC Job 
Muhibbah Engineering : 14 July 2015Awarded RM143.1m contract 
Muhibbah Engineering : 22 June 2015Secured RM60.3m of new jobs 
Muhibbah Engineering : 1 June 2015A promising start 
Muhibbah Engineering : 2 March 2015Broadly in line 
Muhibbah Engineering : 26 February 2015RM116m LNG Regasification Terminal job 
Muhibbah Engineering : 5 February 2015Awarded RM116m RAPID job project 
Protasco : 27 August 2015Road maintenance remains the backbone 
Protasco : 28 May 2015Strong results, attractive valuation and plenty of catalysts ahead 
Protasco : 19 March 2015Doubling of bottom line 
Protasco : 2 March 2015Bargain valuation 
Sunway Constructions : 25 November 2015Robust Pre-Cast Contribution 
Sunway Constructions : 24 November 2015Lot 176, KLCC Construction Award 
Sunway Constructions : 19 October 2015Sunway Iskandar Mixed Residential Award 
Sunway Constructions : 22 September 2015Frontrunner for upcoming BRT projects 
Sunway Constructions : 24 August 2015There’s still a silver lining 
Sunway Constructions : 7 July 2015The largest pure-play construction outfit 
WCT : 25 November 2015Robust Earnings Bolstered by Overseas Job 
WCT : 13 October 2015MyTown Project on Track 
WCT : 9 October 2015No near-term liquidity concern 
WCT : 21 August 2015Lower 1HFY15 Earnings 
WCT : 29 May 2015Expanding Laman Greenville development 
WCT : 26 May 2015Mixed 1QFY15 numbers 
WCT : 17 March 2015Proposes rights and bonus issues 
WCT : 13 March 2015Retracement in share price an opportunity to accumulate 
WCT : 26 February 2015Lower margins taking toll
Consumer
Research Title 
F&N Holdings : 7 May 2015New products to mitigate Redbull 
F&N Holdings : 6 May 2015Soft drinks segment a bane 
F&N Holdings : 11 February 2015Poor performance masked by lower effective tax rate 
MSM Malaysia Holdings Bhd : 10 June 2015Doubling capacity with new refinery 
MSM Malaysia Holdings Bhd : 20 May 2015Benefitting from low free-market sugar prices 
MSM Malaysia Holdings Bhd : 12 February 2015Strong end to FY14 
Nestle (M) Bhd : 23 April 2015Long term sustainable growth in focus 
Nestle (M) Bhd : 21 April 2015Continues to be domestic centric 
Nestle (M) Bhd : 24 February 2015Disappointing end to FY14 
Padini Holdings : 20 May 2015Margin erosion to defend market share 
Padini Holdings : 17 February 2015Depressing result for two quarters in a row 
Parkson Holdings : 25 June 2015Facing tougher operating environment 
Parkson Holdings : 5 May 2015New JV in Entertainment Attractions 
Parkson Holdings : 27 February 2015China’s topline growth dragged by lower SSS
Healthcare
Research Title 
IHH Healthcare : 27 November 2015 Higher revenue intensity 
IHH Healthcare : 7 October 2015 Existing hospital capacity expansion to support earnings 
IHH Healthcare : 1 September 2015 Strengthening its positioning in India 
IHH Healthcare : 27 August 2015 Earnings consolidation from Continental 
IHH Healthcare : 30 April 2015 Further foray into India 
IHH Healthcare : 27 February 2015 Earnings driven by higher inpatient admissions 
KPJ : 27 November 2015 3QFY15 earnings growth outpaced revenue growth 
KPJ : 28 August 2015 Future expansions to sustain growth 
KPJ : 2 March 2015 A weak end to a good year 
UEM Edgenta (Faber) : 12 March 2015 New Concessions Agreement in place 
UEM Edgenta (Faber) : 10 March 2015 Potential gains from forex exposure 
UEM Edgenta (Faber) : 2 March 2015 Results post-consolidation of Opus and Propel 
UEM Edgenta (Faber) : 30 January 2015 Diversified AFM with strong foreign exposure
Industrial
Research Title 
Daibochi : 13 August 2015 Top line driven by higher export sales 
Daibochi : 11 May 2015 Optimistic on sales growth 
Daibochi : 8 May 2015 Local sales outpaced export sales 
Daibochi : 12 February 2015 Earnings hampered by higher operating costs 
Panasonic Manufacturing : 30 November 2015 Earnings growth on improved profit margin 
Panasonic Manufacturing : 25 August 2015 Earnings growth boosted by restocking activities 
Panasonic Manufacturing : 28 May 2015 Earnings surged on improved margins 
Panasonic Manufacturing : 27 February 2015 Higher earnings growth supported by improved margins
Media
Research Title 
Astro : 9 December 2015 Resilient subscription-based business model 
Astro : 17 September 2015 Strong cash generation capability 
Astro : 15 July 2015 Shifting focus to the rural homes 
Astro : 31 March 2015 Generous dividend payout 
Media Prima : 20 November 2015 EBITDA margin continue to improve 
Media Prima : 25 September 2015 Content creation to drive earnings growth 
Media Prima : 14 August 2015 Cost cutting exercise showing results 
Media Prima : 15 May 2015 Tough operating environment to persist 
Media Prima : 27 February 2015 Operating environment to remain challenging in FY15 
Media Prima : 26 February 2015 Earnings impacted by mutual separation scheme 
Star : 17 November 2015 Poor consumer sentiment to persist 
Star : 25 August 2015 2H15 adex growth to be muted 
Star : 19 August 2015 Better results post VSS 
Star : 27 July 2015 The Edge’s loss may be STAR’s gain 
Star : 26 May 2015 Revitalising the core business segments 
Star : 20 May 2015 Cost controls in the print segment bearing fruits 
Star : 4 March 2015 No near term re-rating catalyst 
Star : 2 March 2015 Print and digital segments underperformed
Non-Bank Financials
Research Title 
Bursa Malaysia : 26 October 2015 Derivatives outshined securities trading activity 
Bursa Malaysia : 23 September 2015 Value emerges with share price bottomed out 
Bursa Malaysia : 16 July 2015 Benefitting from the market volatility 
Bursa Malaysia : 23 April 2015 To benefit from heightened foreign interests 
Bursa Malaysia : 21 April 2015 Strong derivatives but lacklustre IPO 
Bursa Malaysia : 30 January 2015 Within expectations 
Bursa Malaysia : 28 January 2015 ADC for derivatives soared on market volatility 
LPI Capital : 9 October 2015 Fire insurance segment led earnings higher 
LPI Capital : 9 April 2015 Well within expectations 
LPI Capital : 20 March 2015 Resilient to withstand challenges 
MBSB : 16 November 2015 Impairment led earnings lower 
MBSB : 7 August 2015 Earnings continued drag by higher allowance 
MBSB : 17 February 2015 Loan growth remains anaemic 
Syarikat Takaful : 9 November 2015 Sturdy Results 
Syarikat Takaful : 13 August 2015 Strong double-digit earnings growth 
Tune Protect : 17 November 2015 Underwriting margin remains healthy 
Tune Protect : 19 August 2015 Stronger growth across all divisions 
Tune Protect : 26 February 2015 Continued growth in non-motor portfolio 
Tune Protect : 13 January 2015 Going Places
Oil & Gas
Research Title 
Bumi Armada : 23 November 2015Outlook uncertain with T&I and OSV in doldrums 
Bumi Armada : 28 August 2015In choppy waters 
Bumi Armada : 27 May 2015One-off staff retrenchment cost booked in 1Q15 
Bumi Armada : 15 April 2015Fresh contract for the year 
Bumi Armada : 27 February 2015Plagued by impairments on assets and receivables 
Dayang Enterprise : 30 November 2015Perdana Petroleum a bane to Dayang 
Dayang Enterprise : 26 August 2015Group earnings dragged by Perdana Petroleum 
Dayang Enterprise : 19 August 2015Revised FY15 and FY16 earnings 
Dayang Enterprise : 5 June 2015Income stream diversification with FIP 
Dayang Enterprise : 26 May 2015Earnings in line with seasonal expectations 
Dayang Enterprise : 15 May 2015Strategic acquisition for growth plans 
Dayang Enterprise : 7 May 20151QFY15 earnings to reflect healthy activity level 
Dayang Enterprise : 26 February 2015Seasonally weaker fourth quarter earnings 
Dialog Group : 18 November 2015Contribution from tank farm doubled 
Dialog Group : 21 August 2015Pengerang a major contributor to the group 
Dialog Group : 13 May 2015Group earnings propped by Malaysian operations 
Dialog Group : 10 February 2015Margins sustained despite lower activity levels 
Favelle Favco : 25 November 2015Strong dividend play despite dismal earnings 
Favelle Favco : 25 August 2015Earnings growth from improved profit margins 
Favelle Favco : 4 August 2015Order boost as Favco remains an attractive dividend play 
Favelle Favco : 26 May 20151QFY15 earnings surged +87.4%yoy to RM22.5m 
Favelle Favco : 21 May 2015Lower new contract orders 
Favelle Favco : 27 February 2015Earnings growth supported by improved margins 
Gas Malaysia : 27 November 2015Earnings clarity and stabilised earnings 
Gas Malaysia : 8 September 2015Earnings clarity from new regime  
Gas Malaysia : 14 August 2015Attractive price for entry 
Gas Malaysia : 8 May 2015Net margins possibly at a new normal 
Gas Malaysia : 13 February 2015Earnings dampened by higher input cost 
KNM Group : 27 November 2015Prospects on Pengerang materialising 
KNM Group : 11 September 2015Jobs from PIPC picking pace 
KNM Group : 1 September 2015Waste management project 
KNM Group : 27 August 2015Earnings marred by deferred taxes 
KNM Group : 11 June 2015Compelling valuations with strong prospects 
KNM Group : 26 February 2015Still strong on all business fronts 
MMHE Holding : 23 December 2015Big score from RAPID Pengerang 
MMHE Holding : 4 November 2015Offshore Segment a bane to group earnings 
MMHE Holding : 29 July 2015Earnings dragged by provisions 
MMHE Holding : 16 June 2015Close to RM400m new jobs secured for FY15 
MMHE Holding : 28 April 2015Stabilising global crude oil price a boon 
MMHE Holding : 6 February 2015Bleak outlook for offshore fabricators 
Perdana Petroleum : 26 August 2015Earnings dragged by lower vessel utilisation rate 
Perdana Petroleum : 19 August 2015Expecting fewer contracts 
Perdana Petroleum : 3 July 2015MGO launched 
Perdana Petroleum : 22 May 2015Expecting slower vessel activities in FY15 
Perdana Petroleum : 15 May 2015Neutral on proposed mandatory general offer 
Perdana Petroleum : 24 February 2015Low crude oil price to affect new project awards 
Perdana Petroleum : 27 January 2015An undervalued gem 
Petronas Chemical : 4 November 2015Expect largely better product prices  
Petronas Chemical : 10 August 2015Product prices stay depressed 
Petronas Chemical : 8 May 2015Product prices expected to improve in 2H15 
Petronas Chemical : 25 February 2015Downward pressure on ASP to persists in 2015 
Petronas Chemical : 23 February 2015Lower earnings despite higher volume sold 
Petronas Dagangan : 4 November 2015Impact of declining volume abated by cost controls 
Petronas Dagangan : 3 November 2015Stronger margins weak sales volume 
Petronas Dagangan : 20 October 2015Profit taking opportunity, fundamentals intact 
Petronas Dagangan : 11 August 2015Overall decline in volume sold 
Petronas Dagangan : 7 August 2015Effective cost cutting measure 
Petronas Dagangan : 13 May 2015Opex to rise to  normal level 
Petronas Dagangan : 12 May 2015Interim dividend within expectations 
Petronas Dagangan : 7 April 2015Associated risks cap potential upside 
Petronas Gas : 2 November 2015Cumulative earnings distorted by exceptional items 
Petronas Gas : 5 August 2015Potentially lower dividends for FY15 
Petronas Gas : 13 May 2015Healthy margin expansion 
Petronas Gas : 18 February 2015Earnings boost from Kimanis Power Plant 
SapuraKencana : 23 December 2015Strong operating cash flow 
SapuraKencana : 8 December 2015Healthy orderbook replenishment 
SapuraKencana : 17 September 2015Net operating cash flow intact despite impairments 
SapuraKencana : 14 July 2015Much anticipated ONGC job announced 
SapuraKencana : 16 June 2015Earnings keeping pace, dividend declared 
SapuraKencana : 12 May 2015First of a  slew of contracts for 2015 
SapuraKencana : 25 March 2015Bargain to wager on 
Wah Seong : 7 December 2015Second project for 2015 
Wah Seong : 30 November 2015Outlook to remain lacklustre 
Wah Seong : 1 September 2015Taking a hit from slowdown in work orders 
Wah Seong : 26 May 2015Orderbook remains robust 
Wah Seong : 27 February 2015Stellar end to the year, but cautious moving forward
Plantation
Research Title 
Felda Global Ventures : 1 December 2015Different Mode Of Investment In Eagle High 
Felda Global Ventures : 27 November 2015Unexpected loss in the TML division 
Felda Global Ventures : 15 September 2015Unusual Market Activity 
Felda Global Ventures : 2 September 2015May lower its offer price for eagle high 
Felda Global Ventures : 28 August 2015Disposing downstream asset in Canada for RM608m 
Felda Global Ventures : 25 August 2015Weak 1HFY15 due to low CPO price and FFB yield 
Felda Global Ventures : 28 July 2015Dismissed Wall Street Journal allegations 
Felda Global Ventures : 9 June 2015Buying Land 
Felda Global Ventures : 25 February 2015Profit tumbled on higher non-cash treatments 
Genting Plantations : 26 November 2015Dragged down by higher depreciation charges 
Genting Plantations : 19 October 2015First Venture Into KL Property Development 
Genting Plantations : 26 August 2015Sabah FFB yield affected by dry season 
Genting Plantations : 26 February 2015Stellar performance from both plantation and property arms 
IJM Plantations : 25 November 2015Lower than expected Opex 
IJM Plantations : 9 November 2015FFB production affected by lag effect of drought 
IJM Plantations : 26 August 2015Affected by low CPO prices 
IJM Plantations : 2 March 2015Indonesian operations turning around 
IOI Corporations : 30 November 2015Regain its Shariah Status 
IOI Corporations : 17 November 2015Better margin from downstream division 
IOI Corporations : 11 September 2015Expanding Its Oleochemical Division 
IOI Corporations : 25 August 2015Compressed margin at downstream division 
IOI Corporations : 15 May 2015Manufacturing segment weakens 
IOI Corporations : 16 February 2015Earnings impacted by weaker Ringgit 
KL Kepong : 19 November 2015Lower than expected FFB growth of 1.9% 
KL Kepong : 20 August 2015Affected by low CPO price 
KL Kepong : 17 February 2015Downstream segment’s margin remains depressed 
PPB Group : 27 November 2015Steady 9MFY15 earnings growth of 12%yoy 
PPB Group : 12 November 2015Wilmar 9MFY15 earnings met expectation 
PPB Group : 27 August 2015Strong 1HFY15 earnings growth of 34%yoy 
PPB Group : 6 August 2015Good Set Of Result From Wilmar 
PPB Group : 22 April 2015A giant in the consumer staple space 
Sime Darby : 7 December 2015Seeking Buyer For Melaka Hotel? 
Sime Darby : 27 November 2015Significant earnings miss from industrial division 
Sime Darby : 11 November 20151QFY16 earnings to be supported by 12% FFB growth 
Sime Darby : 27 August 2015Full year earnings exceeds RM2b, value emerging as price declines 
Sime Darby : 26 August 2015Q4FY2015 Analyst Briefing Presentation 
Sime Darby : 8 July 2015May sell its 30% stake in Tesco Malaysia 
Sime Darby : 25 May 2015NBPOL may generate positive bias to earnings prospects 
Sime Darby : 27 February 2015Earnings hampered by key business units 
Ta Ann : 17 November 2015Timber division boosted by stronger US Dollar 
Ta Ann : 1 September 2015Timber division benefited from higher US Dollar 
Ta Ann : 23 June 2015Expanding Plantation Landbank In Sarawak 
Ta Ann : 26 February 2015Taking advantage of weaker Ringgit 
TSH Resources : 19 November 2015Expect better 4Q15 on higher CPO price and FFB volume 
TSH Resources : 26 August 2015FFB yield affected by dry season in Kalimantan in 3QFY14 
TSH Resources : 21 May 2015 Lower production on adverse weather 
TSH Resources : 17 March 2015Continued focus on Indonesian estates 
TSH Resources : 25 February 2015CPO and FFB output continued rising
Property
 Company Name  Date  Research Title 
Glomac : 3 December 2015Good earnings growth of 24% in 1HFY16 
Glomac : 13 October 2015Unlocking the value of Cheras landbank 
Glomac : 18 September 2015Earnings momentum to pick up in subsequent quarters 
Glomac : 25 June 2015The worst is most likely over 
Glomac : 19 March 2015Disappointing new sales but expect better pace in 4QFY15 
Mah Sing : 29 December 2015Property sales growth improving UOB 
Mah Sing : 29 December 2015Receiving refund for Seremban land 
Mah Sing : 30 November 2015On track to achieve sales target of RM2.3b 
Mah Sing : 14 September 2015Strong balance sheet to weather challenges in the sector 
Mah Sing : 27 August 2015FY15 sales target trimmed down to RM2.3b 
Mah Sing : 17 August 2015Rescission of land purchase in Seremban 
Mah Sing : 29 May 2015Decent Set Of Results 
Mah Sing : 17 February 2015Strong revenue growth but margin declined 
SP Setia : 11 December 2015Earnings met expectations 
SP Setia : 11 September 2015Fulton Lane project the star performer 
SP Setia : 19 August 2015Visit to Setia Ecohill 
SP Setia : 23 July 2015Beneficiary of strong pound sterling 
SP Setia : 16 June 2015Better than expected margin from Fulton Lane project 
SP Setia : 12 March 2015Expect lower new sales in FY15 
Sunway : 27 November 2015Property division remains a drag 
Sunway : 22 October 2015Management Sales Target lowered by 41% to RM1.0b 
Sunway : 3 September 2015Special dividend of 26 Sen 
Sunway : 28 August 2015Weak sales in 1HFY15 
Sunway : 27 August 2015Q2 2015 Analyst Briefing Presentation 
Sunway : 12 June 2015JV With Daiwa to develop Medini land 
Sunway : 27 May 2015Steady Earnings Delivery 
Sunway : 12 May 2015Land banking in Kelana Jaya 
Sunway : 6 May 2015Shares Going Ex For Dividend-In-Specie 
Sunway : 10 April 2015Paving The Way For Another IPO? 
Sunway : 6 April 2015Illustrative Sunway Construction IPO Retail Price At RM1.10 
Sunway : 26 February 2015Decent set of result 
UOA Development : 24 November 2015New sales missed expectation 
UOA Development : 21 August 2015Valuation has turned compelling 
UOA Development : 28 May 2015New launches to support FY15 sales 
UOA Development : 26 February 2015Weak earnings but supported by good dividend
REITS
Research Title 
Amanah Harta Tanah : 12 June 2015 Mydin mall acquisition to boost Core Net Income 
AXIS : 12 November 2015 Acquiring industrial assets in Johor 
AXIS : 20 October 2015 9M15 Result Within Our Expectation 
AXIS : 4 August 2015 1HFY15 Results Within Expectation 
AXIS : 3 August 2015 Q2 2015 Results Presentation 
AXIS : 17 June 2015 Occupancy Rate to improve in 2HFY15 
AXIS : 21 April 2015 1Q15 Result Within Expectation 
AXIS : 4 March 2015 Proposed Unit Split, 20% Placement and Reinvestment Plan 
AXIS : 20 January 2015 Lower than expected occupancy rates 
Capital Malls Capitaland : 19 October 2015 9M15 Result Within Expectations 
Capital Malls Capitaland : 20 July 2015 1H15 Result in Line with Estimates 
Capital Malls Capitaland : 26 June 2015  Placement for Tropicana City Mall and Office Tower 
Capital Malls Capitaland : 03 June 2015  New tenancy agreement with StorHub 
Capital Malls Capitaland : 16 April 2015 Decent 1Q15 Result 
Capital Malls Capitaland : 10 March 2015 Proposed RM395.5m Placement To Fund Tropicana Purchase 
Capital Malls Capitaland : 27 January 2015 Acquiring Tropicana City Mall and Office Tower 
Capital Malls Capitaland : 21 January 2015 Performing well so far 
IGB REIT : 28 October 2015 9M15 Result Above Our Expectations 
IGB REIT : 29 July 2015  2H15 Result in Line with Estimates 
IGB REIT : 26 March 2015  Cost Efficiency To Support Higher Dividend 
IGB REIT : 28 January 2015  Decent set of results 
KLCCP Stapled : 12 November 2015 Hotel segment making a comeback     
KLCCP Stapled : 10 August 2015  Earnings improved with lower operating costs 
KLCCP Stapled : 04 June 2015  Backed by steady earnings from office segment 
KLCCP Stapled : 06 May 2015  Earnings Dragged Down By Hotel Division 
KLCCP Stapled : 17 April 2015  Resilient rental income and strong balance sheet 
Pavilion REIT : 30 December 2015 Acquiring Intermark Mall for RM160m 
Pavilion REIT : 30 October 2015  9MFY15 Result In Line 
Pavilion REIT : 18 September 2015  Acquiring da:mén USJ 
Pavilion REIT : 31 July 2015  Decent income growth 
Pavilion REIT : 28 January 2015  Stable occupancy but flat growth in rental rate 
Sunway REIT : 30 October 2015 1QFY16 result within expectations 
Sunway REIT : 12 August 2015  FY15 Core Net Income In Line 
Sunway REIT : 29 January 2015  1HFY15 earnings within expectation
Rubber Glove
Research Title 
Hartalega : 06 November 2015 Revenue surged with capacity increase 
Hartalega
 : 05 August 2015  Change in rubber gloves trend calls for re-rating 
Hartalega
 : 10 July 2015  No immediate contribution from new NGC 
Hartalega
 : 19 May 2015 Growth in FY16 reliant on NGC 
Hartalega
 : 06 May 2015  Lost profit on start-up and decommissioning 
Hartalega
 : 06 May 2015  Lost profit on start-up and decommissioning 
Hartalega : 11 February 2016 Profitability margin continues to face downward pressure 
Kossan : 20 November 2015 Earnings boost from nitrile gloves 
Kossan :  21 August 2015  More focus on nitrile in product mix 
Kossan : 19 June 2015  Focusing on automation, expansion and optimization 
Kossan : 22 May 2015  Enjoying a surge in volume 
Kossan : 26 February 2015  Growth beckons amidst challenging environment 
Supermax : 27 november 2015 Efficiency and currency 
Supermax
 : 06 November 2015  OBM expenses pressuring on profit margin 
Top Glove : 16 Décember 2015 Earnings at an all-time high 
Top Glove : 21 October 2015  Lofty valuation at almost three-year high 
Top Glove : 16 October 2015  Record high earnings 
Top Glove : 18 June 2015  Best quarterly earnings since listing in 2001 
Top Glove : 19 March 2015  Higher earnings supported by improved margins 
Top Glove : 09 January 2015  Targeting 30% global market share in 2020
Shipping
Research Title 
Maybulk : 26 November 2015 Losses narrowed in 3Q15 
Maybulk
 : 26 August 2015 Poor charter rates due to commodity slump 
Maybulk
 : 24 February 2015  Poor performance due to depressed charter rates 
MISC : 05 November 2015 Riding on strong petroleum tanker rates 
MISC : 24 August 2015  Disposing its tank terminal business 
MISC : 05 August 2015   Buoyant petroleum segment to boost earnings 
MISC : 05 May 2015 Petroleum and offshore offset weak LNG segment 
MISC : 24 February 2015  LNG Unit Receives A Boost 
MISC : 09 February 2015  Boosted by Chendor and Petroleum freight rates 
MISC : 09 February 2015  Boosted by Chendor and Petroleum freight rates 
Westports : 17 December 2015 Uncertainty surrounding the O3 Alliance 
Westports
 : 16 November 2015  Container throughput growth buoyed by O3 Alliance 
Westports
 : 13 November 2015 Potential beneficiary from NOL takeover 
Westports
 : 07 September 2015 Reduction in Asia-Europe service by O3 Alliance 
Westports
 : 07 August 2015 Tariff hike approved after 14 year hiatus 
Westports
 : 05 May 2015 Contribution from Ocean 3 Alliance in Full Swing 
Westports
 :12 February 2015 Looking forward to FY15 after commendable FY14
Steel
Research Title 
Ann Joo : 27 November 2015 Negative margin gets wider 
Ann Joo :
  28 August 2015  China’s exports surged & selling prices remain depressed 
Ann Joo :
  28 May 2015  Selling prices still depressed 
Ann Joo 
: 27 February 2015  Continued rampant dumping of cheap China steel products 
Lion : 01 June 2015 Wider losses for Steel Division 
Lion : 02 March 2015  Operating environment remains challenging
Technology
Research Title 
Globetronics  : 28 October 2015 Healthy net cash position to fuel growth 
Globetronics
  : 29 July 2015  Sustainable dividend-play 
Globetronics
  : 29 April 2015  Singapore segment outperformed 
Globetronics
  : 25 February 2015  Three consecutive years of double-digit sales growth 
Unisem : 30 October 2015 Boost from strong Dollar 
Unisem : 31 July 2015  Anticipating better dividend yield 
Unisem : 30 April 2015  Capex acceleration to fuel growth 
Unisem : 13 February 2015  Turnaround story remains intact
Telecommunications
Research Title 
Axiata : 30 November 2015 Higher operating cost incurred 
Axiata
 : 21 August 2015  Competitive landscape a challenge to bottomline 
Axiata :
 20 May 2015 Earnings impacted by integration of Axis     
Axiata
 : 26 February 2016  Main operating segments continued to drag earnings  
Axiata
 : 12 January 2015  Robi – amongst Bangladesh’s mobile champions 
Digi : 27 October 2015 LTE the catalyst for growth 
Digi
 : 26 October 2015 High-Definition voice calls in 2016 
Digi
 : 14 July 2015 Continued traction from the postpaid market 
Digi
 : 28 April 2015 Postpaid segment the star performer 
Digi : 
10 February 2015 Positive momentum priced-in 
Maxis : 29 October 2015 Margin compression impacted earnings 
Maxis
 : 16 July 2015 ARPU dragged by heavy promotional activities 
Maxis
 : 28 April 2015 Profitability impacted by lower EBITDA margin 
Maxis :
 09 February 2015 Losing its dividend appeal 
Telekom Malaysia : 27 November 2015 P1 yet to turn profitable 
Telekom Malaysia
 : 26 August 2015  Results dragged by P1 
Telekom Malaysia
 : 01 June 2015  Profit margin under pressure in 1Q15 
Telekom Malaysia
 : 27 February 2015 FY14 earnings surpassed expectation
Tobacco
Research Title 
BAT
 : 04 November 2015 Price hike to impact volume 
BAT
 :
 28 October 2015  Improved earnings from lower expenditures 
BAT
 :
 29 July 2015  Lower overall volume 
BAT : 29 June 2015  Price hike to pass-on the GST 
BAT
 :
 29 April 2015  Revenue surge attributable to higher sales volume 
BAT
 :
 17 February 2015  Revenue growth on lower illicit cigarette level
Toll
Research Title 
Litrak : 27 November 2015 Uncertainty in timing of future hikes 
Litrak
 : 28 August 2015 Improved earnings from SPRINT highway 
Litrak
 : 13 October 2015 SPRINT’ing with higher toll rates 
Litrak
 : 02 March 2015 Dividend Surprise in 3Q15
Utilities
Research Title 
Tenaga : 09 December 2015 IBR reinforced de-risking of returns 
Tenaga
 : 08 December 2015 Appeals against tax claims, tariff review in the works 
Tenaga
 : 07 December 2015 Financing obstacle removed with ~RM9b sukuk issue 
Tenaga
 : 31 July 2015 IPCT formally booked in 
Tenaga
 : 06 July 2015 Accepting Project 3B 
Tenaga
 : 26 June 2015 Tariff to stay until year end 
Tenaga
 : 19 June 2015 Taking over Project 3B 
Tenaga
 : 28 April 2015 Continue to sparkle   
Tenaga
 : 24 April 2015 Generation risks are capped, primed for a good result   
Tenaga
 : 01 April 2015 A welcome end to the battle for Integrax   
Tenaga
 : 16 February 2015 Buy on weakness 
Tenaga
 :12 February 2015  Retracement in share price a knee-jerk reaction  
Tenaga :
 11 February 2015  A possibility of lower electricity tariff  
Tenaga
 : 04 February 2015 No changes in Integrax’s offer price 
Tenaga
 : 23 January 2015 Magnificent start to a promising year 
Tenaga
 : 22 January 2015 Expect a good result to kick off FY15 
YTL Power : 23 December 2015 Betting big in Indonesia 
YTL Power
  :27 November 2015 Won extension bid, but pressure remains all round 
YTL Power :
 21 August 2015 Mobile and multi utilities divisions continue to struggle 
YTL Power
 : 22 May 2015 Multi utilities operation continues to struggle