Maxis Berhad (KLSE:MAXIS): Placing Shares in the Spotlight

Taking a gander at some ROIC (Return on Invested Capital) numbers, Maxis Berhad (KLSE:MAXIS's) ROIC Quality Score is 9.245080. ROIC is a productivity proportion that measures the arrival that a venture creates for those giving capital. ROIC helps demonstrate how effective a firm is at transforming capital into benefits. This equation is ascertained by 5 year normal Return on Invested Capital (ROIC)/Standard Deviation of the 5 year ROIC. The higher the proportion, the better as a higher score shows a more steady profit for contributed capital. 

Singular financial specialists might make a huge effort to profit work for them in the share trading system. Money markets can be a startling spot for tenderfoots with practically zero involvement. Concentrate the intricate details of the business sectors can help give a strong base to the new speculator to work with. Many individuals will hop into the amusement supposing they are going to effectively make extensive benefits in the market. In spite of the fact that this is a probability, numerous financial specialists will take in the most difficult way possible that supporting benefits over the long haul can be an extreme attempt. Concentrate all the diverse organization data can take up a considerable measure of time and vitality. A few people simply don't have sufficient energy they might want to put into securities exchange consider. 

Maxis Berhad (KLSE:MAXIS) has a Price to Book proportion of 6.760791. This proportion is ascertained by partitioning the present offer cost by the book esteem per share. Financial specialists may utilize Price to Book to show how the market depicts the estimation of a stock. 

Monitoring some different proportions, the organization has a Price to Cash Flow proportion of 15.979310, and a present Price to Earnings proportion of 21.677585.

The P/E proportion is a standout amongst the most widely recognized proportions utilized for making sense of whether an organization is exaggerated or underestimated. 

Monitoring some valuation rankings, Maxis Berhad (KLSE:MAXIS) has a Value Composite score of 56. Created by James O'Shaughnessy, the VC score utilizes five valuation proportions. These proportions are cost to income, cost to income, EBITDA to EV, cost to book esteem, and cost to deals. The VC is shown as a number in the vicinity of 1 and 100. As a rule, an organization with a score more like 0 would be viewed as underestimated, and a score more like 100 would show an exaggerated organization. Including a 6th proportion, investor yield, we can see the Value Composite 2 score which is as of now sitting at 60. 

Observing some authentic instability numbers on offers of Maxis Berhad (KLSE:MAXIS), we can see that the year unpredictability is by and by 13.760200. The half year instability is 12.168400, and the 3 month is spotted at 12.917900. Following instability information can help quantify how much the stock cost has changed over the predefined day and age. Albeit past instability activity may help extend future stock unpredictability, it might likewise be boundlessly unique when considering different elements that might drive value activity amid the deliberate day and age. 

Value Index 

We would now be able to investigate some verifiable stock value record information. Maxis Berhad (KLSE:MAXIS) by and by has a 10 month value list of 1.03454. The value list is ascertained by separating the present offer cost by the offer value ten months back. A proportion more than one demonstrates an expansion in share cost over the period. A proportion lower than one demonstrates that the cost has diminished over that day and age.

Taking a gander at some other eras, the year value file is 0.99502, the two year is 0.92388, and the three year is 1.02835. Narrowing in somewhat nearer, the 5 month value record is 0.91602, the 3 month is 0.97171, and the 1 month is right now 1.01565. 

Score 

The Gross Margin Score is figured by taking a gander at the Gross Margin and the general security of the organization through the span of 8 years. The score is a number in the vicinity of one and one hundred (1 being ideal and 100 being the most exceedingly awful). The Gross Margin Score of Maxis Berhad (KLSE:MAXIS) is 6.00000. The more steady the organization, the lower the score. In the event that an organization is less steady finished the course of time, they will have a higher score.

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Brighter days ahead for Brahim’s, says HLIB Research

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research sees brighter days ahead for Brahim's Holdings Bhd fter three sequential years of misfortunes and shady profit prospects. 

It said on Thursday the marking of the "new providing food understanding" and passage of vital accomplice SATS, positive dinners volume standpoint in the midst of promising air travel request combined with the progressive change in non-flying cooking fragment, have lit up the profit viewpoint for Brahim's. 

HLIB Research expects Brahim's FY17-19 center income to develop by 23% intensified yearly development rate (CAGR) to RM15.2mil. 

It kept up a Trading Buy rating on Brahim's with a 98 sen target cost (or 28% upside), getting from a 16 times FY18 EPS of 6.1sen, speaking to a 27% rebate to SATS (claims a 49% stake in Brahims Catering) FY18 PE of 22 times. 

Close term re-rating impetuses are securing the Rapid providing food contract and kitchen office rental waiver (not attributed in HLIB Research FY17 gauges), which administration guided to emerge in 2H17. 

"Accepting Brahim's secures both arrangements, we gauge FY17 benefit after assessment and minority enthusiasm to be supported by 117% to RM21.5mil or 9.1 sen a share (from 4.2 sen)," it said. 

In the wake of tumbling 40% from 52-week high of RM1.07 (May 24, 2016) to a low of 64.5 (Jan 4, 2017), Brahims' share costs organized an alleviation rally as high as 87.5 sen (Feb 14) preceding remembering to 76.5 sen on Wednesday. 

"Actually, its short and long haul standpoint stays empowering as uptrend bolster incline lines stay in place and we trust the stock is ready for a close term downtrend resistance breakout, as pointers are recuperating. 

"A conclusive breakout above every day downtrend line close to 78 sen may goad share costs higher towards 83 sen (200-day SMA) and 87.5 sen, before testing our LT objective at 94.5 sen (Aug 9 high). 

"On the other side, key backings are arranged at 72.5 sen (50-d SMA) and 70 sen mental support. Cut misfortune at 69 sen," it said.

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Telekom, Genting Plantation, CBIP, Old Town earnings above forecast

KUALA LUMPUR: Telekom Malaysia, Genting Plantation, CBIP, Lafarge, Old Town, Genting's Singapore unit detailed income which were above Kenanga Investment Bank's desires. The exploration house said on Thursday these six organizations out of the 14 comes about beat its appraisals while two were beneath and six others in line. 

Kenanga, which has an Outperform for TM and target value (TP) of RM6.80, said the telco's FY16 topped its appraisals somewhat by 5% inferable from lower tax collection in 4Q16 accordingly of the last mile broadband motivating force. 

"Regardless, we trimmed FY17E by 5% in the wake of checking on some of our suspicions on administration's most recent direction. Still OP with lower target cost of RM6.80 from RM6.98," it said. With respect to Genting Plantations (advertise perform, TP RM12.40), the FY16 beat house/road's desires by huge edges of 19%/13% attributable to higher unrefined palm oil and palm bit CPO costs by 24%/60% as creation diminished which saw 4Q16 income taking off 36% successively to RM132.7mil. 

"In any case, 1Q17 is relied upon to be blended as the perky upstream business will be counterbalanced by start-up cost for downstream exercises on new refinery. No adjustments in MP/TP: RM12.40 gauges," it said. Kenanga Research said CBIP (MP; TP RM2.15) FY16 additionally beat its assessments by 11% because of preferred manor commitment and higher over expected RSPV section edges. 

Our recommendation for KLSE investors. 

1. PETRONM
2. EKOVEST
3. RGB
4. SIGGAS
5. OLDTOWN

KLSE INTRADAY SIGNALS: BUY SIGGAS AT 0.610 TARGET 0.635, 0.660 SL 0.580 

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January palm oil stocks down 7.55% to 1.54m tonnes

KUALA LUMPUR: Malaysia's aggregate palm oil stocks in January 2017 slipped 7.55% to 1.54 million tons against 1.67 million tons in December a year ago. 

In an announcement on Friday, the Malaysian Palm Oil Board (MPOB) said unrefined palm oil (CPO) stocks fell 10.63% to 783,844 tons in January from 877,082 in the earlier month. 

It said supplies of prepared palm oil additionally dropped 4.13% to 756,988 tons in January against 788,741 tons in December a year ago. 

On generation, it stated, January CPO yield declined to 1.28 million tons from 1.47 million tons in December. 

Palm portion yield slipped to 310,224 tons in January contrasted and 346,520 tons a month prior. 

On fares, the board stated, the offtake of biodiesel in January surged to 401 tons versus 55 tons in December, while palm oil expanded to 1.28 million tons contrasted and 1.27 million tons in December. 

The MPOB said palm part oil sends out slid to 64,631 tons from 78,818 tons in December. 

Palm part cake send out facilitated to 187,017 tons in January from 195,855 tons in December, while oleochemicals enhanced to 211,293 tons from 223,835 tons. - Bernama

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Key Asian markets climbed at the midday break on Monday

KUALA LUMPUR: Key Asian markets moved at the early afternoon break on Monday as hypothesis that the US Federal Reserve won't raise financing costs helped speculator feeling. 

At early afternoon, the KLCI was up 1.9 focuses or 0.11% to 1,686.91 as it cooled off after its rally last Friday. Turnover was 1.34 billion shares esteemed at RM870.03mil. There were 469 gainers, 318 failures and 313 counters unaltered. 

Reuters detailed most Southeast Asian securities exchanges edged higher on Monday, with prospects of a rate climb one month from now by the Fed darkening as information indicated compensation scarcely climbed, softening the dollar and loaning backing to developing markets. 

The ringgit solidified against the US dollar to 4.4240 from 4.4280 and picked up versus the pound sterling at 5.5228 from 5.5439. 

In any case, it slipped against the Singapore dollar to 3.1423 from 3.1312 and debilitated against the Euro to 4.7684 and 4.7570. 

Rough palm oil for third-month conveyance rose RM3 to RM3,058 per ton. Batu Kawan rose 40 sen to RM19.50 as it was viewed as underestimated. Batu Kawan is a noteworthy shareholder of Kuala Lumpur Kepong (KLK). 

KLK rose 30 sen to RM24.80 and IJM Plantations added 18 sen to RM3.58 with 100 shares done. IOI Corp added two sen to RM4.64, PPB Group was level at RM16.38 and Sime Darby fell six sen to RM8.98. 

Axiata rose 12 sen to RM5.07 and pushed the KLCI up 1.77 focuses. Maxis propelled eight sen to RM6.19, Digi added five sen to RM5.10 however Telekom lost one sen to RM5.99. 

MAHB bounced 26 sen to RM6.60 on the expansion of the concession for the air terminals. 

Scomi Engineering climbed 10.5 sen to 42 sen and Scomi two sen higher at 17.5 sen on a news report of China organizations quick to take up a stake in the gathering's railroad operations. 

Among the banks, RHB Bank rose three sen to RM4.99, Maybank and AmBank edged up one sen to RM8.21 and RM4.54, CIMB was level at RM4.97, Public Bank fell two sen to RM20.18, Hong Leong Bank was down 16 sen to RM13.24. 

KPI REIT, which made its exchanging presentation, was level at RM1. 

US light raw petroleum rose 18 pennies to US$54.01 while Brent picked up 18 pennies to US$56.99. 

Petronas Chemicals rose two sen to RM7.15 yet Petronas Gas fell two sen to RRM20.58 and Petronas Dagangan four sen bring down at RM23.44. 

With respect to purchaser stocks, Apollo rose 23 sen to RM5.20 and Nestle 22 sen higher at RM76.32 yet BAT fell 46 sen to RM44.86 and F&N fell 14 sen to RM23.62. 

Among the key territorial markets, 

Japan's Nikkei 225 shed 0.02% to 18,913.56; 

Hong Kong's Hang Seng Index rose 0.62% to 13,272.85; 

CSI 300 rose 0.38% to 3,377.19; 

Shanghai's Composite Index increased 0.47% to 3,154.78; 

Hang Seng China Enterprise bounced 1.34% to 9,812.52; 

Taiwan's Taiex increased 0.85% to 9,536.40; 

South Korea's Kospi added 0.23% to 2,077.97; and 

Singapore's Straits Times Index added 0.44% to 3,055.19. 

Spot gold picked up US$3.10 to US$1,223.40.

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UMW exits oil and gas business

KUALA LUMPUR: UMW Holdings Bhd, a combination with intrigue principally in car and substantial gear, will leave the oil and gas (O&G) business through a progression of corporate activities. 

It will likewise make hindrances for its non-O&G resources as a feature of a measure to totally leave the part. 

The add up to be weakened will be revealed in its last quarter comes about for 2016 that will be declared at end-February. 

"In seeking after the divestment of the non-recorded O&G resources, UMW will embrace an impedance. The quantum presently can't seem to be resolved," said UMW president and gathering CEO Badrul Feisal Abdul Rahim at a question and answer session. 

UMW's exit from the O&G segment is through a progression of corporate activities. It incorporates a profit in specie and a capital infusion evaluated at RM750mil by its real shareholder Permodalan Nasional Bhd (PNB) into another broadened O&G furnish that will have Ekuiti Nasional Bhd (Ekuinas) as a shareholder. 

Under the work out, UMW will disperse its 55.7% stake in UMW Oil and Gas Corp Bhd (UMW-OG) to shareholders. 

Taking after that, UMW-OG will assume control over Ekuinas' 42.3% stake in Icon Offshore Bhd, setting off an obligatory general offer. 

UMW-OG will offer Icon shareholders an alternative of money of 50 sen every share or one UMW-OG share esteemed at 80 sen.

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Blue chips extend recovery while Ekovest in focus, Ringgit firmer

KUALA LUMPUR: Blue chips kept on recouping early Wednesday for the second day after Monday's tumble, with Petronas Gas and Hong Leong Bank supporting the FBM KLCI, while the Ringgit solidified against the US dollar. At 10am, the KLCI was up 3.43 focuses or 0.21% to 1,666.46. Turnover was 531.27 million shares esteemed at RM213.22mil. There were 261 gainers, 207 failures and 283 counters unaltered. The Ringgit rose 0.36% to 4.4440 against the dollar from the past close of 4.4600.Year-to-date, the ringgit is up 0.91% to the greenback. 

Reuters detailed the US dollar record floundered close to six-week lows on Wednesday, constrained by U.S. President-elect Donald Trump's remarks demonstrating worry over the cash's quality, while sterling edged down subsequent to posting its greatest one-day pick up since no less than 1998 after British Prime Minister Theresa May sketched out her "Brexit" arranges. 

Unrefined petroleum prospects edged higher on Wednesday with a weaker dollar supporting the market, despite the fact that additions were constrained by desires that U.S. makers would support yield, Reuters included. 

US West Texas Intermediate (WTI) raw petroleum fates were exchanging up three pennies at US$52.51 per barrel at 0058 GMT. Brent unrefined petroleum, the global benchmark at oil costs, was up four pennies US$55.51 a barrel.  Petronas Gas rose 22 sen to RM20.12 while Hong Leong Bank added eight sen to RM13.32. 

Ekovest added nine sen to RM2.61 with 3.07 million shares done after it reported arrangements to manufacture a RM6.32bil turnpike that comprises of Kampung Baru Link, Istana Link and Kapar Link Expressway in the Klang Valley. The new road will be connected to the current DUKE interstate.  Toyo Ink added 9.5 sen to 60 sen while KESM and Solid Automotive added eight sen each to RM10.08 and RM1.34. Matang, which was recorded on Tuesday, was the most dynamic with 44.1 million shares done. It was level at 14 sen. BAT fell the most, down 16 sen to RM44.84 with 2,200 shares done.

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'Framework will take Malaysia a step forward'

KUALA LUMPUR: Market specialists and experts are sure on the new Islamic Fund and Wealth Management Blueprint. Permodalan Nasional Bhd bunch director Tan Sri Abdul Wahid Omar said the plan would step forward in Islamic back, whose size added up to US$1.7 trillion (RM7.6 trillion). 

"Among the numerous activities, I see there is additionally a need to grow more syariah-consistent stocks. "There are numerous nearby stocks that are by nature syariah-consistent however how they are financed, and as far as their obligation, may not be syariah-agreeable," he told NST Business after the plan's dispatch, here, yesterday. Wahid said the business ought to do a more thorough screening to build the quantity of syariah-consistent stocks. 

PwC Malaysia official administrator Datuk Mohammad Faiz Azmi said the plan was well-thoroughly considered. "We as of now have a decent lot of items and minimum amount with regards to Islamic back. Since we have an item, the following stride is to get more shoppers on board." He said something that he enjoyed most was the Securities Commission's drive in digitizing the Islamic back industry to cut down the cost. 

"When we can cut down the cost, we will have the capacity to make the estimating more aggressive and that will acquire more customers." Faiz said generally speaking, the outline was opportune. "We have done well with making the items and now we will make more interest for the items on the grounds that with the goal for us to hold our authority inside Islamic back, we have to move outside Malaysia. This plan will help us with that." 

Principal Financial Group Asia administrator Rex Auyeung said the outline would help Malaysia keep up its authority position in Islamic fund. "This is a key favorable position that this market has and on the off chance that we begin from here, having a gathering ensuring we gather enough enthusiasm from everywhere throughout the world, I think this is truly going to profit Malaysia's capital market. 

This outline will end up in a good place," he included. Eastspring Investments Bhd CEO Raymond Tang said the diagram gave an unmistakable bearing towards the development of Islamic fund. "The outline is one of the approaches to address issues that have been ruining the development of union of the Islamic capital market." Retirement Fund Inc CEO Datuk Wan Kamaruzaman Wan Ahmad said the diagram was a decent rule with a reasonable way to achievement. "It will now rely on upon the whole biological system to receive the outline. It needs every player's participation to make it a win," he included. Farah Adilla, Lidiana Rosli and Amir Hisyam Rasid

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The U.S. dollar crept nearer to 14-year peaks on Wednesday

The U.S. dollar crawled closer to 14-year tops on Wednesday as a wealth of energetic worldwide monetary information helped Wall Street and indications of stimulating expansion marked settled pay obligation. 

The quality of the U.S. money influenced item costs and dragged oil off a 18-month best, however gave Japan's exporter-overwhelming securities exchange a fillip. 

The Nikkei <.N225> climbed 2.1 percent, recuperating from two sessions of misfortunes as residential information indicated production line action extended at the quickest pace in a year. 

Advertises somewhere else in Asia were more reluctant having as of now revitalized on Tuesday. MSCI's broadest record of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was up 0.1 percent and attempting to string together a seventh straight session of additions. 

The lighting up temperament took after a round of playful manufacturing plant studies from China, the euro zone and United States. Investigators at Barclays said their measure of worldwide assembling certainty hit its most noteworthy since December 2013. 

U.S. industrial facility action sped to a two-year high in the midst of a surge in new requests, while fabricating in the euro zone developed at its quickest pace in five years. 

Strikingly, the U.S. ISM demonstrated a sharp get in crude material costs which stirred theory the Trump Administration's proposed jolt measures will produce more swelling. 

Money Street's rally was further supported by additions in Verizon Communications and innovation organizations Alphabet and Facebook. The Dow <.DJI> finished Tuesday up 0.6 percent, while the S&P 500 <.SPX> increased 0.85 percent and the Nasdaq <.IXIC> 0.85 percent. 

Passage Motor <F.N> bounced 3.79 percent on news it would scratch off an arranged $1.6-billion industrial facility in Mexico and contribute $700 million at a Michigan manufacturing plant, after Trump had cruelly reprimanded the Mexico venture arrange. 

A similar news slugged the Mexican peso, abandoning it at its most reduced ever close against the U.S. dollar <MXN=>. 

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North American movie box office sets record US$11.4bil in 2016

The North American motion picture film industry raked in US$11.4 billion in 2016, making it the most astounding gaining year ever, as per film industry tracker comScore.

A year ago's aggregate obscured the past record of $11.14 billion in 2015.

The product of blockbuster motion pictures in 2016 was beaten by "Discovering Dory," which counted $486.3 million in deals in the United States and Canada, comScore said.

The most recent Star Wars film, "Maverick One," completed the year in second place, yet it was just discharged on Dec. 16 in the United States and keeps on getting a charge out of solid deals.

Disney had six of North America's main 10 netting motion pictures in 2016 and the greater part of the main three, including "Skipper America: Civil War," which took in $408 million, as per comScore.

"Absent minded fish, super-saints, family unit pets and space voyagers drove the charge in a year that was set apart by a unimaginably differing determination of movies from each class and of each size and extension from every one of the studios," comScore's senior media investigator, Paul Dergarabedian, said in a news discharge on Sunday.

Mewhile Rogue One: A Star Wars Story" and "Sing" posed a potential threat at the multiplexes over the New Year's vacation, piling on the greatest nets and ringing out 2016 on a high note.

The Star Wars spinoff topped the movies for the third back to back end of the week, gaining just shy of $50 million for the three-day time frame and an anticipated $64 million for the four-day occasion. The film business is attaching Monday on to New Year's end of the week, on the grounds that many organizations and schools are watching it as a national occasion. The end of the week net pushes the space musical show over the $400 million check locally. It as of now positions as the year's second most noteworthy earning residential discharge, with $425 million, behind just "Discovering Dory."

"Maverick One" closes a record-demolishing year for Disney. The studio turned into the first to beat $7 billion in a solitary year, has handled four of the five top earning residential discharges, and ought to see four of its motion pictures best $1 billion at the worldwide film industry.

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Trading ideas

KUALA LUMPUR: JF Apex expects Barakah Offshore Petroleum Bhd, VS industry Bhd, Fitter Diversified Bhd and Perisai Petroleum Teknologi Bhd to be among the stocks which could see exchanging activity on Tuesday. 

The examination house additionally expects Icon Offshore Bhd and Iris Corp Bhd to produce some exchanging enthusiasm taking after their corporate declarations. 

Barakah secured a RM20mil contract from Murphy Sabah Oil Co Ltd for the arrangement of generation riser tensioner update, including support and redesign works. 

Versus Industry saw its net benefit drop 44.3% year-on-year to RM33.51mil, because of debilitated commitment from Malaysia and a misfortune from the operations in China that balance the expansion in the littler scale Indonesia fragment. 

Fitters Diversified has chosen not to continue with arrangements to rundown its completely claimed auxiliary Future NRG Sdn Bhd (FNRG) on the Catalist leading group of the Singapore Exchange (SGX) until further notice while Perisai and Emas Offshore Ltd (EOL) have gone to a settlement on their disagreement about the transfer of Perisai's 51% stake in SJR Marine (L) Ltd to EOL. 

Symbol Offshore has sacked a RM5.6mil contract to give one straight supply vessel to EQ Petroleum Production Malaysia Ltd for the Seligi/PM 8 (Extension) oil field seaward Peninsular Malaysia 

Iris gathering's overseeing chief and CEO Datuk Tan Say Jim has stopped to be a considerable shareholder of the organization subsequent to discarding 56.6 million shares by means of an immediate business exchange. 

In the mean time, JF Apex said FBM KLCI could stay dull and decay towards the support of 1,610 focuses taking after the blended execution in the US and Europe. 

It included that potential window dressing could be seen profiting blue chips with four exchanging days left for this present year.

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The Federal Land Development Authority

KUALA LUMPUR: The Federal Land Development Authority (FELDA)s plan to get a 37 for every penny stake in Indonesias PT Eagle High Plantation Tbk (EHP) won't influence the prosperity of pioneers. This is on the grounds that the arrangement is a remain solitary venture with its own particular financing, while the US$505.4 million (RM2.26 billion) esteem is great with late exchanges including an Indonesian palm oil organization.

"The arrangement won't effect FELDA's current duties and projects to enhance the prosperity of the pioneers," said FELDA.

FELDA is to procure the stake through its unit, FIC Properties Sdn Bhd. For this reason, FELDA had marked a Sale and Purchase Agreement (SPA) with Rajawali Group.

Discrediting claims that FELDA is paying too high a premium over market cost of EHP shares, it cleared up that share cost is not the acknowledged valuation technique with regards to a manor organization.

The share cost may not reflect genuine estimation of EHP. The acknowledged valuation is undertaking esteem per hectare, which is US$16,000 venture esteem per hectare ev/ha), which is the thing that FELDA paid for the 37 for every penny stake.

"This esteem contrasts positively and late exchanges including an Indonesian palm oil organization, FELDA said in an announcement in the midst of cases that FELDA was paying as high as 173 for each penny premium for the stake.

It refered to KL Kepong Bhds late last offer of US$15,500 ev/ha was dismisses by MP Evans board as the latters autonomous valuation put their esteem at US$17,300 ev/ha.

"MP Evans board has requested valuation of US$24,000 ev/ha for the organization.

At US$505.4 million (RM2.26 billion), FELDA is buying EHP stake at US$16,000 ev/ha. - MP Evans planted land 31,400 ha.

"EHP planted range is 125,000 ha. Along these lines, FELDA is buying access to land four circumstances the span of MP Evans at a lower ev/ha than MP Evans autonomous valuation.

Additionally the finished up buy by Sime Darby of New Britain Palm Oil Ltd was at an ev/ha of US$27,000," it clarified.

In addition, it said share cost likewise does not reflect genuine esteem on the grounds that EHP shares are predominantly controlled 70 for every penny by Rajawali Group. Additionally, it is recorded on the Jakarta Stock Exchange where it is not as fluid as Bursa Malaysia or the Singapore Stock Exchange.

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