RHB - Osk188

\The c 

Mohammad Ashraf Abu Bakar, CMT 

Tel : +6(03)9207 7699 

Email : ashraf.abubakar@my.oskgroup.com 

Tebrau Teguh Bhd 

Resistance: RM1.65 

50-day 

MAV line 

Support 

RM0.96 

Improved 

volume 

Source: RHB, Bloomberg Source: RHB, Bloomberg 

Tebrau should climb higher after closing at its the highest in more 

than five years. A purchase can be made as long as the stock stays 

above the psychological RM1.00, with a close below RM0.96 as 

stop-loss. The price target is a prior high of RM1.30, with resistance 

also expected at RM1.15. Failure to stay above RM1.00 could see 

the stock trade sideways, with strong support expected at RM0.90. 

RHB Retail Research / Market Dateline / PP 7767/09/2012 (030475) 

Trading Stocks 

Lafarge Malayan Cement Bhd 

Support: RM9.80 

200-day MAV line 

12 March 2013 

Improved 

volume 

Lafarge should continue higher after printing a new all-time high. A 

position can be initiated if the stock stays above RM10.00, with a 

close below RM9.80 as a stop-loss. The price target is RM12.50, 

with resistance seen at RM11.30. Failure to stay above RM10.00 

should see the stock trend sideways, with supports lying at RM9.60 

and RM9.10. 

Page 1 of 8

Berjaya Food Bhd 




Berjaya Food may continue higher after posting a 3-month high. A 

purchase can be made if the stock stays above RM1.25, with a close 

below RM1.20 as stop-loss. The price target is RM1.60, with 

resistance also expected at the psychological RM1.50. The stock 

may decline if the stop-loss is triggered, with supports lying at 

RM1.15 and a stronger one at RM1.05. 

See important disclosure notice at the end of report 

Support 

RM1.20 

Improved 

volume 

Malaysian Bulk Carriers Bhd 



Support 

RM1.50 

Improved 

volume 

Malaysian Bulk may rebound after posting a five-month high last 

week. A position can be initiated if the stock stays above RM1.55, 

with a close below RM1.50 as stop-loss. The price targets are the 

prior highs of RM1.70 and RM1.80. Should the stock fail to stay 

above RM1.50, it may trend sideways, with supports seen at 

RM1.45 and RM1.35. 

Page 2 of 8

Hua Yang Bhd 



Resistance : 

RM1.75 


Improved 

volume 

Dijaya Corp Bhd 


Hua Yang should continue to scale higher after printing a new alltime 

high. A position can be initiated if the stock closes above 

RM1.75, with a close below RM1.65 as stop-loss. The price target is 

the psychological RM2.00, with resistance anticipated at RM1.85. 

However, the stock may decline if it triggers the stop-loss, with 

supports lying at RM1.55 and a stronger one at RM1.50. 


Resistance 

RM2.55 


Dijaya’s downside risk increased after it failed to nullify the weak 

bias of 7 Mar’s “Shooting Star”. Traders can liquidate if the stock 

closes below RM1.50, with supports anticipated at RM1.42 and a 

stronger one at RM1.34. Buying support could, however, continue if 

the stock closes above RM1.55. Resistances lie at RM1.60, with a 

stronger one at RM1.70. 

Page 3 of 8

I-Bhd 

Resistance RM0.86 



I-Bhd should march higher after printing a new 52-week high. A 

position can be initiated above RM1.40, with a close below RM1.40 

as stop-loss. The price target is RM1.70, with resistance also 

expected at RM1.60. Failure to stay above RM1.40 should see the 

stock trade sideways, with strong support found at RM1.30. 


Support: 

RM1.40 

High 

volume 

SapuraKencana Petroleum Bhd 

Support 

RM2.94 

Resistance: 

RM0.90 


Improved 

volume 

SapuraKencana’s rally may resume as the stock has stayed above 

the 50-day MAV line for a few days. A purchase can be made as long 

as it stays above RM3.00, with a close below RM2.94 as stop-loss. 

The price target is RM3.30, if the recent high of RM3.15 is violated. 

Failure to stay above RM3.00 should see the stock trade sideways, 

with the downside bias intensifying on a close below RM2.85. 

Page 4 of 8

February and March’s Trading Stocks 

Stock 

OSK188 

Ticker 

1st 

Target 

2nd 

Target 

Cut-loss / 

Buyback 

Recommendation 

AEON Co AEON RM14.00 RM15.00 RM12.80 Buy on rebound continuation above RM13.00 

AEON Credit Services AEONCR RM13.00 RM13.70 RM11.20 Buy on rebound continuation above RM12.00 

AirAsia AIRASIA RM3.00 RM3.20 RM2.77 Buy above RM2.80 on possible bottom at RM2.77 

Alliance Fin Group AFG RM4.65 RM4.40 RM4.20 Buy above RM4.30 on possible bottom at RM4.20 

Apex Healthcare AHEALTH RM4.20 RM4.50 RM3.65 Buy on rally continuation above RM3.80 

Astro Malaysia Hldg ASTRO RM2.70 RM2.60 RM2.80 Sell as long as it stays below RM2.80 resistance 

Axiata AXIATA RM6.60 RM6.80 RM6.20 Buy above RM6.30 on possible bottom at RM6.20 

Axis REIT AXREIT RM3.30 RM3.50 RM3.10 Buy on rally continuation above RM3.20 

Benalec Holdings BENALEC RM1.10 RM1.05 RM1.21 Sell below RM1.21 on possible top at RM1.21 

Bertam Alliance BERTAM RM0.64 RM0.69 RM0.60 Buy above RM0.60 on possible bottom at RM0.60 

BIMB Holdings BIMB RM3.30 RM3.50 RM3.00 Buy above RM3.10 on possible bottom at RM3.00 

BLD Plantations BLDPLNT RM9.00 RM9.40 RM8.20 Buy on rebound continuation above RM8.50 

Bolton BOLTON RM0.75 RM0.70 RM0.85 Sell below RM0.85 on possible top at RM0.85 

Borneo Oil BORNOIL RM0.33 RM0.30 RM0.40 Sell below RM0.40 on possible top at RM0.40 

Boustead Heavy Ind BHIC RM1.75 RM1.50 RM2.20 Sell on break of 12-month low of RM2.00 

Bursa Malaysia BURSA RM7.00 RM7.50 RM6.55 Buy on rebound continuation above RM6.65 

Cahya Mata Sarawak CMSB RM3.25 RM3.50 RM3.00 Buy above RM3.03 on possible bottom at RM3.00 

Calrsberg Brewery CARLSBG RM14.00 RM14.70 RM12.80 Buy on rally continuation above RM13.20 

Can-One CANONE RM2.05 RM1.93 RM2.45 Sell below RM2.34 on possible top at RM2.45 

CB Industrial Product CBIP RM2.40 RM2.30 RM2.62 Sell on break of 6-month low of RM2.62 

CBSA CBSA RM0.48 RM0.50 RM0.44 Buy on rally continuation above RM0.45 

Censof Holdings CENSOF RM0.35 RM0.33 RM0.40 Sell below RM0.40 on possible top at RM.425 

China Stationary CSL RM0.64 RM0.58 RM0.80 Sell below RM0.80 on possible top at RM0.80 

CIMB Group CIMB RM6.85 RM6.70 RM7.00 Sell on break of 12-month low of RM7.00 

Coastal Contract COASTAL RM2.15 RM2.25 RM1.97 Buy above RM2.00 on possible bottom at RM1.97 

Cocoaland Holdings COCOLND RM2.27 RM2.35 RM2.00 Buy above RM2.10 on possible bottom at RM2.00 

Crecendo Corp CRESNDO RM2.00 RM2.20 RM1.73 Buy above RM1.80 on possible bottom at RM1.73 

Crest Builder Hldg CRESBLD RM0.90 RM0.95 RM0.78 Buy above RM0.80 on possible bottom at RM0.775 

Daibochi Plastic DAIBOCI RM2.70 RM2.85 RM2.45 Buy above RM2.55 on possible bottom at RM2.45 

Dayang Enterprise DAYANG RM2.55 RM2.70 RM2.35 Buy above RM2.40 on possible bottom at RM2.35 

Deleum DELEUM RM2.20 RM2.40 RM1.90 Buy on rally continuation above RM2.00 

Dialog DIALOG RM2.15 RM2.00 RM2.37 Sell below RM2.30 on possible top at RM2.35 

DiGi.com DIGI RM5.00 RM5.20 RM4.50 Buy above RM4.60 on possible bottom at RM4.50 

DKSH Holdings DKSH RM2.80 RM3.00 RM2.50 Buy above RM2.50 on possible bottom at RM2.50 

DRB Hicom DRBHCOM RM2.65 RM2.80 RM2.40 Buy above RM2.50 on possible bottom at RM2.40 

Dutch Lady Milk Ind DLADY RM44.50 RM46.50 RM42.00 Buy above RM42.50 on possible bottom at RM42.00 

Eden Inc EDEN RM0.25 RM0.22 RM0.30 Sell below RM0.30 on possible top at RM0.32 

Eng Kah Corp ENGKAH RM3.60 RM3.75 RM3.30 Buy above RM3.40 on possible bottom at RM3.30 

Faber Group FABER RM1.65 RM1.80 RM1.47 Buy on close above 6-month resistance of RM1.55 

Favelle Favco FAVCO RM1.40 RM1.30 RM1.61 Sell on break of 5-month low of RM1.61 

Felda Global Ventures FGV RM4.30 RM4.20 RM4.50 Sell below RM4.50 on possible top at RM4.50 

Gamuda GAMUDA RM3.90 RM4.00 RM3.67 Buy above RM3.75 on possible bottom at RM3.67 

Gas Malaysia GASMSIA RM2.85 RM2.93 RM2.69 Buy on close above 6-month resistance of RM2.75 

Genting GENTING RM10.30 RM10.70 RM9.55 Buy on rebound continuation above RM9.80 

Genting Malaysia GENM RM3.80 RM3.95 RM3.52 Buy above RM3.60 on possible bottom at RM3.52 

Genting Plantations GENP RM8.85 RM9.20 RM8.15 Buy above RM8.30 on possible bottom at RM8.15 

Glomac GLOMAC RM1.00 RM1.05 RM0.86 Buy on close above 12-month resistance of RM0.90 

Hartalega Hldg HARTA RM5.10 RM5.30 RM4.60 Buy above RM4.75 on possible bottom at RM4.60 

Ho Hup Construction HOHUP RM0.60 RM0.55 RM0.70 Sell on break of 6-month low of RM0.66 

icapital.biz ICAP RM2.20 RM2.10 RM2.31 Sell on break of 4-month low of RM2.28 

IGB Corp IGB RM2.20 RM2.00 RM2.45 Sell below RM2.30 on possible top at RM2.35 

IJM Corp IJM RM5.45 RM5.60 RM5.00 Buy above RM5.20 on possible bottom at RM5.0 

IJM Land IJMLAND RM2.40 RM2.50 RM2.10 Buy on close above 5-month resistance of RM2.20 

Inch Kenneth Rubber INCKEN RM1.00 RM1.10 RM0.90 Buy above RM0.92 on possible bottom at RM0.90 

Industronics ITRONIC RM0.50 RM0.45 RM0.63 Sell below RM0.60 on possible top at RM0.625 

IOI Corp IOICORP RM4.50 RM4.35 RM5.00 Sell below RM5.00 on possible top at RM5.05 

Ivory Properties Gp IVORY RM0.48 RM0.45 RM0.50 Sell below RM0.50 on possible top at RM0.52 

JCY International JCY RM0.58 RM0.54 RM0.65 Sell below RM0.625 on possible top at RM0.65 

JobStreet Corp JOBST RM2.80 RM3.00 RM2.40 Buy on rebound continuation above RM2.5 

Kamdar Group KAMDAR RM0.65 RM0.75 RM0.57 Buy on rally continuation above RM0.60 

KBB Resources KBB RM0.45 RM0.40 RM0.53 Sell below RM0.525 on possible top at RM0.50 

KKB Engineering KKB RM1.60 RM1.70 RM1.43 Buy on close above 3-month resistance of RM1.50 

KPJ Healthcare KPJ RM6.00 RM6.40 RM5.60 Buy above RM5.80 on possible bottom at RM5.60 


Page 5 of 8

February and March’s Trading Stocks 

Stock 

OSK188 

Ticker 

1st 

Target 

2nd 

Target 

Cut-loss / 

Buyback 

Recommendation 

KSL Holdings KSL RM2.00 RM2.10 RM1.65 Buy on rally continuation above RM1.70 

Kump Hartanah Sgor KHSB RM0.70 RM0.80 RM0.62 Buy on rebound continuation above RM0.65 

Kump Perangsang KPS RM1.10 RM1.20 RM0.96 Buy above RM1.00 on possible bottom at RM0.96 

Kumpulan Europlus KEURO RM0.75 RM0.65 RM0.90 Sell on downtrend continuation below RM0.90 

Kumpulan Fima KFIMA RM1.60 RM1.45 RM1.87 Sell below RM1.80 on possible top at RM1.87 

Land & General L&G RM0.44 RM0.47 RM0.39 Buy on rebound continuation above RM0.40 

Lion Industries LIONIND RM1.00 RM1.05 RM0.90 Buy above RM0.93 on possible bottom at RM0.90 

London Biscuit LONBIS RM0.60 RM0.58 RM0.66 Sell on break of 12-month low of RM0.65 

MAA Group MAA RM0.55 RM0.60 RM0.48 Buy above RM0.50 on possible bottom at RM0.48 

Mah Sing Group MAHSING RM2.50 RM2.70 RM2.17 Buy on rebound continuation above RM2320 

Malayan Banking MAYBANK RM8.80 RM8.50 RM9.20 Sell below RM9.20 on possible top at RM9.20 

Malaysia Airlines MAS RM0.78 RM0.85 RM0.69 Buy above RM0.71 on possible bottom at RM0.69 

Malaysia Building Soc MBSB RM2.50 RM2.70 RM2.38 Buy on rebound continuation above RM2.40 

Malaysia Resources MRCB RM1.30 RM1.20 RM1.45 Sell below RM1.40 on possible top at RM1.45 

MBM Resources MBMR RM3.20 RM3.00 RM3.50 Sell below RM3.30 on possible top at RM3.50 

Media Prima MEDIA RM2.20 RM2.30 RM2.10 Buy above RM2.13 on possible bottom at RM2.10 

Microlink Solution MICROLN RM0.66 RM0.73 RM0.59 Buy on rally continuation above RM0.60 

Mudajaya Group MUDAJYA RM2.15 RM2.30 RM2.56 Sell on close below 12-month low of RM2.50 

MWE Holdings MWE RM1.90 RM2.00 RM1.65 Buy on rally continuation above RM1.80 

Naim Holdings NAIM RM2.20 RM2.35 RM1.90 Buy on close above 6-month resistance of RM2.00 

NTPM Holdings NTPM RM0.52 RM0.55 RM0.47 Buy on rebound continuation above RM0.475 

OCK Group OCK RM0.54 RM0.60 RM0.49 Buy above RM0.50 on possible bottom at RM0.48 

Pacific & Orient P&O RM1.50 RM1.65 RM1.30 Buy on rally continuation above RM1.40 

Padini Holdings PADINI RM1.70 RM1.60 RM1.90 Sell below RM1.90 on possible top at RM1.90 

Pantech Group PANTECH RM0.80 RM0.88 RM0.70 Buy above RM0.72 on possible bottom at RM0.695 

Pavilion REIT PAVREIT RM1.58 RM1.65 RM1.40 Buy on rally continuation above RM1.45 

Perak Corp PRKCORP RM1.60 RM1.75 RM1.35 Buy on close above 9-month resistance of RM1.40 

Perdana Petroleum PERDANA RM1.45 RM1.55 RM1.23 Buy on rally continuation above RM1.30 

Perisai Petroleum PERISAI RM1.15 RM1.22 RM0.96 Buy above RM1.00 on possible bottom at RM0.96 

Pestech International PESTECH RM1.23 RM1.30 RM1.07 Buy on rally continuation above RM1.10 

Petronas Chemicals PCHEM RM6.10 RM5.90 RM6.40 Sell below RM6.34 on possible top at RM6.40 

Poh Kong Holdings POHKONG RM0.40 RM0.36 RM0.48 Sell on break of 12-month low of RM0.44 

Pos Malaysia POS RM3.80 RM4.10 RM3.40 Buy above RM3.50 on possible bottom at RM3.40 

Power Root PWROOT RM1.22 RM1.12 RM1.50 Sell below RM1.45 on possible top at RM1.50 

PPB Group PPB RM13.20 RM14.00 RM12.00 Buy above RM12.30 on possible bottom at RM12.00 

Public Bank PBBANK RM16.00 RM16.40 RM15.30 Buy above RM15.70 on possible bottom at RM15.30 

Puncak Niaga Hldg PUNCAK RM1.50 RM1.60 RM1.34 Buy on rebound continuation above RM1.40 

QL Resources QL RM2.85 RM2.80 RM3.02 Sell on break of 12-month low of RM3.00 

Redtone International REDTONE RM0.45 RM0.50 RM0.37 Buy above RM0.38 on possible bottom at RM0.37 

SapuraKencana Pet SKPETRO RM2.75 RM2.60 RM2.95 Sell below RM2.85 on possible top at RM2.95 

Scomi Group SCOMI RM0.28 RM0.25 RM0.33 Sell on break of 5-month low of RM0.30 

Scomi Marine SCOMIMR RM0.45 RM0.50 RM0.38 Buy on rebound continuation above RM0.405 

SEG International SEG RM1.55 RM1.40 RM1.75 Sell on break of 12-month low of RM1.70 

Starhill REIT STAREIT RM1.20 RM1.30 RM1.07 Buy on rally continuation above RM1.12 

Sunway SUNWAY RM2.60 RM2.70 RM2.38 Buy on rebound continuation above RM2.45 

Syarikat Takaful TAKAFUL RM6.00 RM6.60 RM5.30 Buy above RM5.50. on possible bottom at RM5.30 

Ta Ann Holdings TAANN RM3.25 RM3.00 RM3.65 Sell below RM3.50 on possible top at RM3.65 

Tambun Indah TAMBUN RM0.87 RM0.95 RM0.79 Buy above RM0.81 on possible bottom at RM0.79 

Tan Chong Motor TCHONG RM5.50 RM6.00 RM4.90 Buy on rally continuation above RM5.00 

Top Glove Corp TOPGLOV RM5.80 RM6.10 RM5.40 Buy above RM5.50 on possible bottom at RM5.40 

Tradewinds Plant TWSPLNT RM5.00 RM5.30 RM4.30 Buy on rebound continuation above RM4.40 

Uchi Technologies UCHITEC RM1.30 RM1.40 RM1.14 Buy on break of 5-month resistance of RM1.20 

UEM Land Holdings UEMLAND RM2.50 RM2.60 RM2.20 Buy on rebound continuation above RM2.30 

UMW Holdings UMW RM13.00 RM13.90 RM11.90 Buy above RM12.20 on possible bottom at RM11.90 

Unisem UNISEM RM0.92 RM0.97 RM0.85 Buy above RM0.86 on possible bottom at RM0.845 

UOA Development UOADEV RM2.00 RM2.25 RM1.83 Buy on rebound continuation above RM1.9 

Uzma UZMA RM1.80 RM2.00 RM1.60 Buy above RM1.65 on possible bottom at RM1.60 

WCT WCT RM2.10 RM2.00 RM2.25 Sell below RM2.20 on possible top at RM2.25 

Willoglen MSC WILLOW RM0.40 RM0.42 RM0.35 Buy on rally continuation above RM0.36 

Xingquan Intl XINQUAN RM0.90 RM1.00 RM0.77 Buy on break of 5-month resistance of RM0.80 

Yinson Holdings YINSON RM2.50 RM2.70 RM2.23 Buy on rally continuation above RM2.35 

YTL Corp YTL RM1.70 RM1.80 RM1.55 Buy above RM1.60 on possible bottom at RM1.55 

YTL Power Intl YTLPOWR RM1.45 RM1.35 RM1.52 Sell on downtrend continuation below RM1.50 


Page 6 of 8

RHB Guide to Investment Ratings 

Buy: Share price may exceed 10% over the next 12 months 

Trading Buy:Share price may exceed 15% over the next 3 months, however longer-term outlook remains uncertain 

Neutral:Share price may fall within the range of +/- 10% over the next 12 months 

Take Profit:Target price has been attained. Look to accumulate at lower levels 

Sell:Share price may fall by more than 10% over the next 12 months 

Not Rated:Stock is not within regular research coverage 

Disclosure & Disclaimer 

All research is based on material compiled from data considered to be reliable at the time of writing, but RHB does not make any representation or warranty, 

express or implied, as to its accuracy, completeness or correctness. No part of this report is to be construed as an offer or solicitation of an offer to transact any 

securities or financial instruments whether referred to herein or otherwise. This report is general in nature and has been prepared for information purposes only. It 

is intended for circulation to the clients of RHB and its related companies. Any recommendation contained in this report does not have regard to the specific 

investment objectives, financial situation and the particular needs of any specific addressee. This report is for the information of addressees only and is not to be 

taken in substitution for the exercise of judgment by addressees, who should obtain separate legal or financial advice to independently evaluate the particular 

investments and strategies. 

RHB, its affiliates and related companies, their respective directors, associates, connected parties and/or employees may own or have positions in securities of the 

company(ies) covered in this research report or any securities related thereto, and may from time to time add to, or dispose off, or may be materially interested in 

any such securities. Further, RHB, its affiliates and related companies do and seek to do business with the company(ies) covered in this research report and may 

from time to time act as market maker or have assumed an underwriting commitment in securities of such company(ies), may sell them or buy them from 

customers on a principal basis and may also perform or seek to perform significant investment banking, advisory or underwriting services for or relating to such 

company(ies), as well as solicit such investment, advisory or other services from any entity mentioned in this research report. 

RHB and its employees and/or agents do not accept any liability, be it directly, indirectly or consequential losses, loss of profits or damages that may arise from 

any reliance based on this report or further communication given in relation to this report. 

The term “RHB” shall denote where applicable, the relevant entity distributing the report in the particular jurisdiction mentioned specifically herein below and 

shall refer to RHB Research Institute SdnBhd, its holding company, affiliates, subsidiaries and related companies. 

All Rights Reserved. This report is for the use of intended recipients only and may not be reproduced, distributed or published for any purpose without prior 

consent of RHB and RHB accepts no liability whatsoever for the actions of third parties in this respect. 

Malaysia 

This report is published and distributed in Malaysia by RHB Research Institute SdnBhd (233327-M), Level 11, Tower One, RHB Centre, JalanTunRazak, 50400 

Kuala Lumpur, a wholly-owned subsidiary of RHB Investment Bank Berhad (RHBIB), which in turn is a wholly-owned subsidiary of RHB Capital Berhad. 

As of 12 March 2013, RHBIB does not have proprietary positions in the subject companies, except for: 

a) - 

As of 12 March 2013, none of the analysts who covered the stock in this report has an interest in the subject companies covered in this report, except for: 

a) - 

Singapore 

This report is published and distributed in Singapore by DMG & Partners Research Pte Ltd (Reg. No. 200808705N), a wholly-owned subsidiary of DMG & 

Partners Securities Pte Ltd, a joint venture between OSK Investment Bank Berhad, Malaysia (“OSKIB”) and Deutsche Asia Pacific Holdings Pte Ltd (a subsidiary 

of Deutsche Bank Group). DMG & Partners Securities Pte Ltd is a Member of the Singapore Exchange Securities Trading Limited and is a subsidiary of OSKIB, 

which in turn is a wholly-owned subsidiary of RHB Capital Berhad.DMG& Partners Securities Pte Ltd may have received compensation from the company 

covered in this report for its corporate finance or its dealing activities; this report is therefore classified as a non-independent report. 

As of 12 March 2013, DMG & Partners Securities Pte Ltd and its subsidiaries, including DMG & Partners Research Pte Ltd do not have proprietary positions in 

the subject companies, except for: 

a) - 

As of 12 March 2013, none of the analysts who covered the stock in this report has an interest in the subject companies covered in this report, except for: 

a) - 


Page 7 of 8

Special Distribution by RHB 

Where the research report is produced by an RHB entity (excluding DMG & Partners Research Pte Ltd) and distributed in Singapore, it is only distributed to 

"Institutional Investors", "Expert Investors" or "Accredited Investors" as defined in the Securities and Futures Act, CAP. 289 of Singapore. If you are not an 

"Institutional Investor", "Expert Investor" or "Accredited Investor", this research report is not intended for you and you should disregard this research report in its 

entirety. In respect of any matters arising from, or in connection with this research report, you are to contact our Singapore Office, DMG & Partners Securities Pte 

Ltd. 

Hong Kong 

This report is published and distributed in Hong Kong by OSK Securities Hong Kong Limited (“OSKSHK”), a subsidiary of OSK Investment Bank Berhad, 

Malaysia (“OSKIB”), which in turn is a wholly-owned subsidiary of RHB Capital Berhad. 

OSKSHK, OSKIB and/or other affiliates may beneficially own a total of 1% or more of any class of common equity securities of the subject company. OSKSHK, 

OSKIB and/or other affiliates may, within the past 12 months, have received compensation and/or within the next 3 months seek to obtain compensation for 

investment banking services from the subject company. 

Risk Disclosure Statements 

The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will 

be incurred rather than profit made as a result of buying and selling securities. Past performance is not a guide to future performance. OSKSHK does not maintain 

a predetermined schedule for publication of research and will not necessarily update this report 

Indonesia 

This report is published and distributed in Indonesia by PT OSK Nusadana Securities Indonesia, a subsidiary of OSK Investment Bank Berhad, Malaysia, which in 

turn is a wholly-owned subsidiary of RHB Capital Berhad. 

Thailand 

This report is published and distributed in Thailand by OSK Securities (Thailand) PCL, a subsidiary of OSK Investment Bank Berhad, Malaysia, which in turn is a 

wholly-owned subsidiary of RHB Capital Berhad. 

Other Jurisdictions 

In any other jurisdictions, this report is intended to be distributed to qualified, accredited and professional investors, in compliance with the law and regulations of 

the jurisdictions. 

Kuala Lumpur Hong Kong Singapore 

Malaysia Research Office 

RHB Research Institute SdnBhd 

Level 11, Tower One, RHB Centre 

Jalan Tun Razak 

Kuala Lumpur 

Malaysia 

Tel : +(60) 3 9280 2185 

Fax : +(60) 3 9284 8693 


OSK Securities 

Hong Kong Ltd. 

12 th Floor 

World-Wide House 

19 Des Voeux Road 

Central, Hong Kong 

Tel : +(852) 2525 1118 

Fax : +(852) 2810 0908 

DMG & Partners 

Securities Pte. Ltd. 

10 Collyer Quay 

#09-08 Ocean Financial Centre 

Singapore 049315 

Tel : +(65) 6533 1818 

Fax : +(65) 6532 6211 

Jakarta Shanghai Phnom Penh 

PT OSK Nusadana 

Securities Indonesia 

Plaza CIMB Niaga 

14th Floor 

Jl. Jend. Sudirman Kav.25 

JakartaSelatan12920, Indonesia 

Tel : +(6221) 2598 6888 

Fax : +(6221) 2598 6777 

OSK (China) Investment 

Advisory Co. Ltd. 

Suite 4005, CITIC Square 

1168 Nanjing West Road 

Shanghai 20041 

China 

Tel : +(8621) 6288 9611 

Fax : +(8621) 6288 9633 

Bangkok 

OSK Securities (Thailand) PCL 

10th Floor,SathornSquareOfficeTower 

98, North SathornRoad,Silom 

Bangrak, Bangkok 10500 

Thailand 

Tel: +(662) 862 9999 

Fax : +(662) 108 0999 

OSK Indochina Securities Limited 

No. 1-3, Street 271 

Sangkat Toeuk Thla, Khan Sen Sok 

Phnom Penh 

Cambodia 

Tel: +(855) 23 969 161 

Fax: +(855) 23 969 171 

Page 8 of 8

RHB - Osk188

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