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PP 7767/09/2010(025354)

31 May 2010
RHB Research
Institute Sdn Bhd
A member of the
RHB Banking Group
Company No: 233327 -M

Corporate Highlights
31 May 2010

♦ MCIL : Expecting Stronger Adex Ahead Outperform

Briefing Note

♦ Tenaga Nasional : Cutting Subsidies For A Better Outperform

News Update

♦ PLUS Expressways : Potentially Higher Toll Rates And Fuel Outperform

Price in 2H
News Update

♦ Dialog Group : Secured E&C Contract Worth SG$21.3m Outperform

News Update

♦ Fajarbaru Builder : To Embark On A Greenfield Hotel Project Outperform

In Melaka
Company Update

♦ Consumer Sector : Small Pack Ban Delayed To 1 Jan 2011 Neutral

Sector Update

…For details, see individual write-up attached. (... c’td)

Chart 1 : FBM KLCI Chart Table1 : Regional Markets (28 May)

Bloomberg Code Index Chg YTD (%)

FBM KLCI : FBMKLCI 1,269.16* +20.22 -0.3
1,269.16 FTSE M'sia : FBMEMAS 8,541.76* +151.56 +0.4
FTSE M'sia 70 : FBM70 8,418.68* +169.49 +1.8
FTSE M'sia 100 : FBM100 8,320.10* +139.77 +0.1
Singapore : FSSTI 2,739.70* +43.68 -5.4
Thailand : SET 737.28* +8.34 +0.4
Philippines : PCOMP 3,252.63 +96.10 +6.5
Indonesia : JCI 2,713.92* +17.14 +7.1
Chg Hong Kong : HSI 19,766.71 +335.34 -9.6

KLCI Futures May 2010 China, Shanghai : SHCOMP 2,655.77 -0.15 -19.0
1279.0* +26.0
China, Shenzhen : SZCOMP 1,062.78 +2.44 -11.5
KLCI Futures June 2010 1278.5* +25.5
Korea : KOSPI 1,622.78 +15.28 -3.6
WTI Crude Oil (US$/barrel) 73.77 -0.63
Taiwan : TWSE 7,295.32 +52.16 -10.9
CPO Spot Price (RM/Tonne) 2543.5^ +1.50 Japan : NKY 9,762.98 +123.26 -7.4
US$/Euro 1.241 +0.01 Dow Jones : INDU 10,136.63 -122.36 -2.8
Yen/US$ 91.2 +0.70 S&P 500 : SPX 1,089.41 -13.65 -2.3
Ringgit/US$ 3.295 +0.01 Nasdaq : CCMP 2,257.04 -20.64 -0.5
^ as at 26 May 2010 closing * as at 27 May 2010 closing

* as at 27 May 2010 closing

RHBRI’s Research Team Tel : (603) 9280 2160 E-mail :

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31 May 2010

♦ Sime Darby : Confidence Still Shaky Underperform

Results / Briefing Note

♦ TM : No Commitment On Capital Market Perform

Management Yet
Results / Briefing Note

♦ Axiata Group : Improvements Gaining Momentum Outperform

Results / Briefing Note

♦ Genting Malaysia : Holding On To Market Share Market Perform

Results / Briefing Note

♦ Genting : Boosted By Maiden Contribution From Outperform

Results / Briefing Note

♦ Allianz Malaysia : Strong Premium Growth For 1QFY12/10 Outperform

Briefing Note

♦ Carlsberg : Strong Contribution From Singapore Outperform

Results Note

♦ YTL Power : 3Q Net Profit Up 20.5% YoY Market Perform

Results Note

♦ YTL Cement : 3QFY06/10 Performance Rises On One- Outperform

Off Gains; Anticipating Better 4Q
Results Note

♦ Ta Ann Holding : Earnings Expected To Pick Up From Outperform

2QFY12/10 Onwards
Results Note

♦ Petra Perdana : No Surprises Underperform

Results Note

♦ Emas Kiara Industries : 1QFY12/10 Net Profit Grows 23% YoY Outperform

Results Note

♦ CBIP : Picking Up Momentum Outperform

Results Note

♦ Market Technical Reading : “Sell Into Strength” On Possible Further

Daily Trading Strategy

♦ Kencana Petroleum : Medium-term Outlook Has Turned Sell Into Strength

Weekly Trading Idea

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31 May 2010

♦ Commodities & Currencies The US Light Sweet Crude Oil Regaining

Weekly Technical Viewpoint

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The recommendation framework for stocks and sectors are as follows : -

Stock Ratings

Outperform = The stock return is expected to exceed the FBM KLCI benchmark by greater than five percentage points over the next 6-12 months.

Trading Buy = Short-term positive development on the stock that could lead to a re-rating in the share price and translate into an absolute return of 15% or more over a
period of three months, but fundamentals are not strong enough to warrant an Outperform call. It is generally for investors who are willing to take on higher risks.

Market Perform = The stock return is expected to be in line with the FBM KLCI benchmark (+/- five percentage points) over the next 6-12 months.

Underperform = The stock return is expected to underperform the FBM KLCI benchmark by more than five percentage points over the next 6-12 months.

Industry/Sector Ratings

Overweight = Industry expected to outperform the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

Neutral = Industry expected to perform in line with the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

Underweight = Industry expected to underperform the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

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