M+ On-The-Go

M+ Global Market Wrap - 6Nov26 FBM KLCI: 1,616.58 pts (-19.28pts, -1.18%) The local bourse finished on a negative note, dragged down by losses in PMETAL (-15.0 sen) and YTLPOWR (-26.0 sen). Market breadth remained negative, with 961 losers outpacing 269 gainers. Sector-wise, all sectors ended in negative territory with TECHNOLOGY (-4.58%) performed the worst. Top 3 Active stocks: ZETRIX (0138): RM0.065 (+0.5 sen) INARI (0166): RM2.12 (-16.0 sen) VS (6963): RM0.295 (-2.5 sen) Top 3 Gainer stocks: F&N (3689): RM22.22 (+100.0 sen) UTDPLT (2089): RM30.38 (+28.0 sen) CARLSBG (2836): RM12.68 (+14.0 sen) Top 3 Loser stocks: MPI (3867): RM36.20 (-268.0 sen) NESTLE (4707): RM94.16 (-184.0 sen) VITROX (0097): RM10.12 (-48.0 sen) Volume: 3.64 bn (100-bar avg vol: 3.41 bn) Value: RM3.50 bn (100-bar avg val: RM2.91 bn) Market Breadth: ⬆️269 ⬇️961 Crude Palm Oil: RM4,377 (-RM110, -2.51%) Dow Futures: 51,263 pts (-352 pts) **Source: M+Global, Bloomberg **

M+ Global Market Update – 06Nov26 AI Sell-Off Deepens; Oil Rebounds on Shipping Risks US: Wall Street may remain cautious as investors reassess AI infrastructure returns and potential regulatory constraints. Renewed tanker attacks and uncertainty over US–Iran negotiations lifted Brent to USD98.29/bbl, reviving inflation concerns and the risk of further energy-market volatility. Defensive names such as Walmart (WMT), Procter & Gamble (PG) and Johnson & Johnson (JNJ) could attract interest as investors seek more resilient earnings. Friday’s US employment report will be closely watched for clues on labour-market conditions and the Federal Reserve’s policy outlook. MY: The FBM KLCI may face selling pressure after Wall Street’s sharp decline, although BNM’s decision to maintain the OPR at 2.75% could offer support. VITROX posted its strongest quarterly results since listing, with 3QFY26 revenue up 112% YoY to RM485.1m and net profit rising 242% to RM118.6m, driven by AI infrastructure and networking inspection demand. However, the semiconductor sell-off may weigh on sentiment. GCB may benefit from a recovery in cocoa grindings, up 29% YoY in Asia and 40% among Ivory Coast’s GEPEX members, alongside lower bean costs. KJTS also merits attention, with four 20-year cooling agreements in Thailand supporting recurring income being awarded in Sep-2026. Stocks to watch: Consumer: *GCB*, MFLOUR, SPRITZER Financial Services: *ABMB*, *AMBANK*, BURSA Technology: *INFOM*, SCICOM Industrial: EIPOWER, PANTECH Utilities: *GASMSIA* Source: M+ Global

M+ Market Buzz - 6Nov26 Dow Jones: 51,523.06 pts (-1,833.06pts, -3.44%) ⬆️ Resistance: 54,800 ⬇️ Support: 50,500 FBM KLCI: 1,635.86 pts (+19.30pts, +1.19%) ⬆️ Resistance: 1,660 ⬇️ Support: 1,580 HSI Index: 24,796.98 pts (+877.48pts, +3.67%) ⬆️ Resistance: 25,400 ⬇️ Support: 22,500 Crude Palm Oil: RM4,368 (-RM9, -0.21%) ⬆️ Resistance: 4,780 ⬇️ Support: 4,290 Brent Oil: $98.29 (+$3.67, +3.88%) ⬆️ Resistance: 120.40 ⬇️ Support: 91.60 Gold: $4,088.28 (+$27.92, +0.69%) ⬆️ Resistance: 4,180 ⬇️ Support: 3,830 Source: Bloomberg, M+Global

M+ Global Market Wrap - 5Nov26 FBM KLCI: 1,635.86 pts (+19.30pts, +1.16%) The local bourse closed higher following the central bank’s widely expected decision to hold interest rates. However, market breadth remained negative, with 723 losers outpacing 497 gainers. The benchmark was lifted by PBBANK (+19.0 sen) and MAYBANK (+26.0 sen). Sector-wise, Financials (+2.92%) led the gains, driven by banking stocks, while Technology (-4.27%) lagged the most. Top 3 Active stocks: ZETRIX (0138): RM0.060 (UNCH) AAGB (5238): RM0.535 (+8.0 sen) JAKS (4723): RM0.125 (-0.5 sen) Top 3 Gainer stocks: NESTLE (4707): RM96.00 (+250.0 sen) HLBANK (5819): RM22.20 (+96.0 sen) ALLIANZ (1163): RM19.92 (+40.0 sen) Top 3 Loser stocks: MPI (3867): RM38.88 (-174.0 sen) MEGAFB (5327): RM1.83 (-71.0 sen) UWC (5292): RM6.59 (-61.0 sen) Volume: 3.74 bn (100-bar avg vol: 3.43 bn) Value: RM3.61 bn (100-bar avg val: RM2.90 bn) Market Breadth: ⬆️497 ⬇️723 Crude Palm Oil: RM4,496 (-RM99, -2.20%) Dow Futures: 53,727 pts (+224 pts) **Source: M+Global, Bloomberg **

Good Morning All,   Here’s our IPO note on Impact Capital Holdings Berhad (IMPACT): Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)   We assign a fair value of RM0.36 per share for IMPACT, indicating a 63.6% upside from the IPO price of RM0.22. Our valuation is derived by ascribing a target P/E multiple of 15.2x to mid-FY28 core EPS of 2.39 sen, in line with the peer average forward P/E of 15.2x.   Investment highlights include: (i) Sarawak’s leading critical-infrastructure integrator      (ii) A multi-year runway, with FY27 already covered       (iii) Recurring income is compounding      (iv) Margins are widening as the mix shifts  (v) Expanding beyond Sarawak and up the value chain (vi) A cash-generative, asset-light balance sheet funds growth          Research Team, M+Global 5 Nov 26

M+ Global Market Update – 05Nov26 Election Rally Lifts Sentiment, OPR in Focus US: Wall Street may extend its post-election rally, although Democratic control of Congress could reshape policy priorities. Investors may reassess the implications for AI regulation and clean-energy incentives. Solar players such as First Solar (FSLR) could benefit from policy support, while data-centre operators IREN and Applied Digital (APLD) may face tighter scrutiny. Meanwhile, Microsoft (MSFT) and Amazon (AMZN) appear better positioned to navigate regulatory headwinds, supported by their scale and cash generation. MY: The FBM KLCI may draw support from Wall Street's strong rebound, with attention turning to BNM's OPR decision at 3pm. Eight of nine economists expect the rate to remain unchanged at 2.75%. On the corporate front, Kee Ming (KEEMING) secured a RM44.17m electrical engineering subcontract for a Puncak Alam hyperscale data centre, scheduled for completion by July 2027. Sunway Construction (SUNCON) secured RM920.8m in additional MEP fit-out works for a Johor data centre, lifting its FY26 new orders to RM8.06bn and outstanding order book to RM11.7bn. Meanwhile, Binastra (BNASTRA) secured a RM303.8m automated warehouse contract in Klang, expanding its exposure to specialised industrial infrastructure. Stocks to watch: Consumer: *AAGB*, GCB Utilities: *GASMSIA*, *KJTS* Technology: *EDELTEQ*, *SCICOM* Banking: *ABMB* Shipping: *MTTSL* Construction: ECOGRP Industrial: PGLOBAL Source: M+ Global

M+ Market Buzz - 05Nov26 Dow Jones: 53,356.12 pts (+1,569.40pts, +3.03%) ⬆️ Resistance: 54,600 ⬇️ Support: 50,600 FBM KLCI: 1,616.56 pts (-5.29pts, -0.33%) ⬆️ Resistance: 1,660 ⬇️ Support: 1,580 HSI Index: 23,919.50 pts (+393.53pts, +1.67%) ⬆️ Resistance: 24,100 ⬇️ Support: 22,500 Crude Palm Oil: RM4,495 (-RM1, -0.02%) ⬆️ Resistance: 4,780 ⬇️ Support: 4,300 Brent Oil: $94.62 (-$8.98, -8.67%) ⬆️ Resistance: 120.40 ⬇️ Support: 92.70 Gold: $4,062.12 (+$1.76, +0.04%) ⬆️ Resistance: 4,160 ⬇️ Support: 3,830 Source: Bloomberg, M+Global

M+ Global Market Wrap - 4Nov26 FBM KLCI: 1,616.56 pts (-5.29pts, -0.35%) The local bourse finished on a negative note, dragged down by losses in PBBANK (-4.0 sen) and MAYBANK (-14.0 sen). However, market breadth was positive, with 646 gainers outpacing 441 losers. Sector-wise, Technology (+3.17%) outperformed, led by VITROX (+48.0 sen) and UWC (+32.0 sen), while Financials (-0.70%) lagged the most. Top 3 Active stocks: AIZO (7219): RM0.065 (-0.5 sen) ZETRIX (0138): RM0.060 (UNCH) PUC (0007): RM0.040 (+0.5 sen) Top 3 Gainer stocks: MPI (3867): RM40.62 (+112.0 sen) VITROX (0097): RM10.90 (+48.0 sen) UWC (5292): RM7.20 (+32.0 sen) Top 3 Loser stocks: NESTLE (4707): RM93.50 (-238.0 sen) MEGAFB (5327): RM2.54 (-33.0 sen) HEIM (3255): RM13.00 (-26.0 sen) Volume: 2.82 bn (100-bar avg vol: 3.42 bn) Value: RM2.58 bn (100-bar avg val: RM2.90 bn) Market Breadth: ⬆️646 ⬇️441 Crude Palm Oil: RM4,551 (-RM47, -1.03%) Dow Futures: 52,138 pts (+243 pts) **Source: M+Global, Bloomberg **

Good Morning All,   Here’s our IPO note on Big Caring Group Berhad (BCG): Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)   We assign a fair value of RM1.40 per share to BCG, indicating 29.6% upside from the IPO price of RM1.08. Our valuation applies a target P/E of 32.7x, in line with the peer average forward P/E, to mid-FY28 EPS of 4.28 sen.   Investment highlights include: (i) The national leader in a fragmented market         (ii) A repeatable roll-out engine, backed by M&A         (iii) Scale is showing up in margins       (iv) Vertical integration adds a higher-margin layer           Research Team, M+Global 4 Nov 26

M+ Global Market Update – 04Nov26 Tech Rebounds as Cybersecurity Takes Focus US: Cybersecurity stocks may attract renewed interest as recent attacks expose vulnerabilities across connected infrastructure and enterprise networks. Cyberattacks disrupted supermarket refrigeration systems across Europe, highlighting growing operational technology security risks. This could reinforce demand for network and AI security solutions, putting Fortinet (FTNT) and Palo Alto Networks (PANW) in focus. Fortinet stands out after reporting 20% YoY revenue growth to US$2.08bn in 3Q26, supported by strong demand for its security solutions. MY: The FBM KLCI may remain resilient, with renewable energy investments and cybersecurity demand offering stock-specific opportunities. TENAGA and IOICORP are in focus following their JV with a consortium of 12 SMEs to develop a 500MWac solar farm and 250MW/1,000MWh battery storage system in Bahau under CRESS. TENAGA and IOICORP hold 70% and 25% stakes, respectively, with total JV equity commitments of up to RM606.2m. PEKAT may attract greater institutional interest following regulatory approval for its Main Market transfer. Meanwhile, LGMS warrants attention as recent cyberattacks highlight operational technology vulnerabilities, potentially supporting demand for its cybersecurity solutions, subject to commercial uptake. Stocks to watch: Consumer: AAGB, *GCB*, *F&N* Renewable Energy: *BMGREEN* Ports & Logistics: *WPRTS* Banking: *AMBANK* Technology: *LGMS* Building Materials: HUMEIND Industrial: PGLOBAL Construction: BNASTRA Plantation: SOP Source: M+ Global

M+ Market Buzz - 4Nov26 Dow Jones: 51,786.72 pts (-200.99pts, -0.39%) ⬆️ Resistance: 54,200 ⬇️ Support: 51,000 FBM KLCI: 1,621.85pts (+2.34pts, +0.14%) ⬆️ Resistance: 1,660 ⬇️ Support: 1,600 HSI Index: 23,525.97 pts (+132.65pts, +0.57%) ⬆️ Resistance: 26,200 ⬇️ Support: 23,100 Crude Palm Oil: RM4,494 (-RM57, -1.25%) ⬆️ Resistance: 5,120 ⬇️ Support: 4,390 Brent Oil: $104.42 (-$0.88, -0.84%) ⬆️ Resistance: 112.20 ⬇️ Support: 94.10 Gold: $3,930.00 (-$16.92, -0.43%) ⬆️ Resistance: 4,540 ⬇️ Support: 3,800 Source: Bloomberg, M+Global

M+ Global Market Wrap - 3Nov26 FBM KLCI: 1,621.85 pts (+2.34pts, +0.14%) The local bourse closed higher, supported by gains in RHBBANK (+21.0 sen) and MAYBANK (+6.0 sen). However, market breadth remained negative, with 652 losers outpacing 403 gainers. Sector-wise, Financials (+0.79%) led the gains, driven by banking stocks, while Technology (-1.23%) lagged the most. Top 3 Active stocks: AIZO (7219): RM0.070 (+2.5 sen) GIIB (7192): RM0.495 (-0.5 sen) NEXGRAM (0096): RM0.060 (+0.5 sen) Top 3 Gainer stocks: F&N (3689): RM21.20 (+92.0 sen) UTDPLT (2089): RM29.88 (+58.0 sen) CARLSBG (2836): RM12.94 (+36.0 sen Top 3 Loser stocks: PETDAG (5681): RM19.28 (-50.0 sen) KGB (0151): RM8.17 (-33.0 sen) MPI (3867): RM39.50 (-28.0 sen) Volume: 2.63 bn (100-bar avg vol: 3.42 bn) Value: RM2.65 bn (100-bar avg val: RM2.90 bn) Market Breadth: ⬆️403 ⬇️652 Crude Palm Oil: RM4,649 (-RM71, -1.53%) Dow Futures: 51,848 pts (-285 pts) **Source: M+Global, Bloomberg **

Good Morning All, Here’s our Factor Focus - November 2026 report | Malacca Securities (mplusonline.com) Amid heightened market volatility and cautious investor sentiment driven by external headwinds and geopolitical uncertainties, the local bourse weakened in October 2026, with the FBM KLCI and FBM Small Cap Index (FBMSCAP) declining by 2.2% and 2.5%, respectively, while the broader market recorded an average loss of 2.0%. Against this challenging backdrop, our Large-cap and Combined portfolios delivered positive returns of 1.8% and 2.0%, respectively, while our Small-cap portfolio limited its decline to just 0.5%, demonstrating resilience amid broader market weakness. Since inception, all three portfolios have comfortably outperformed the broader market benchmark's 8.7% return, with our Large-cap, Small-cap and Combined portfolios recording cumulative gains of 40.3%, 62.7% and 53.5%, respectively. Research Team, M+Global 3 November 2026

M+ Global Market Update – 03Nov26 Oil Relief Meets Fresh AI Investment US: Wall Street may remain selective as easing oil prices offer some relief, while investors continue to scrutinise returns on AI infrastructure spending. October's ISM manufacturing PMI rose to 55.5 from 54.5, signalling firmer activity, while today's US midterm elections add policy uncertainty. Palantir (PLTR) is in focus after US commercial revenue surged 148% YoY to USD984m, surpassing US government revenue for the first time. Apple (AAPL) also beat quarterly revenue expectations at USD114.5bn, while AMD's results and data-centre guidance after Tuesday's close will provide the next test of AI-chip demand. MY: The FBM KLCI may remain resilient, supported by domestic digital and data-centre investments. SKYECHIP offers exposure to AI and HPC chip-design demand, with silicon IP contributing 63% of revenue. Meanwhile, GAMUDA secured Google's water infrastructure project in Negeri Sembilan, supported by the latter's USD160m shared-water infrastructure commitment. INFOM also received a five-year Broadcom appointment covering 13 Asia-Pacific markets. Further beneficiaries include ISF, following RM83.2m in data-centre contract wins, lifting its unbilled order book to RM225.5m, while NORTHERN secured 189MW of solar-plus-battery projects to support two data centres. Stocks to watch: Consumer: *AAGB*, *GCB*, LWSABAH Renewable Energy: *BMGREEN* Ports & Logistics: *WPRTS*, MISC Construction: *HKB* Utilities: *GASMSIA* Technology: VS Banking: PBBANK Source: M+ Global

Good Morning All, Here’s our Factor Focus - November 2026 report | Malacca Securities (mplusonline.com) Amid heightened market volatility and cautious investor sentiment driven by external headwinds and geopolitical uncertainties, the local bourse weakened in October 2026, with the FBM KLCI and FBM Small Cap Index (FBMSCAP) declining by 2.2% and 2.5%, respectively, while the broader market recorded an average loss of 2.0%. Against this challenging backdrop, our Large-cap and Combined portfolios delivered positive returns of 1.8% and 2.0%, respectively, while our Small-cap portfolio limited its decline to just 0.5%, demonstrating resilience amid broader market weakness. Since inception, all three portfolios have comfortably outperformed the broader market benchmark's 8.7% return, with our Large-cap, Small-cap and Combined portfolios recording cumulative gains of 40.3%, 62.7% and 53.5%, respectively. Research Team, M+Global 3 November 2026

M+ Market Buzz - 3Nov26 Dow Jones: 51,983.98 pts (+213.67pts, +0.41%) ⬆️ Resistance: 53,700 ⬇️ Support: 50,600 FBM KLCI: 1,619.51 pts (+3.91pts, +0.24%) ⬆️ Resistance: 1,660 ⬇️ Support: 1,580 HSI Index: 23,393.32 pts (+98.90pts, +0.42%) ⬆️ Resistance: 23,900 ⬇️ Support: 22,500 Crude Palm Oil: RM4,648 (-RM1, -0.02%) ⬆️ Resistance: 4,820 ⬇️ Support: 4,540 Brent Oil: $104.77 (-$8.66, -7.63%) ⬆️ Resistance: 120.40 ⬇️ Support: 101.30 Gold: $3,946.74 (+$71.09, +1.83%) ⬆️ Resistance: 4,160 ⬇️ Support: 3,830 Source: Bloomberg, M+Global

M+ Global Market Wrap - 2Nov26 FBM KLCI: 1,619.51 pts (+3.91pts, +0.24%) The local bourse finished on a positive note, supported by gains in MISC (+27.0 sen) and PBBANK (+4.0 sen). However, market breadth was negative with 774 losers outpacing 324 gainers. Sector-wise, Telecommunications (+1.36%) outperformed, led by CDB (+13.0 sen) and AXIATA (+5.0 sen), while Technology (-2.23%) lagged the most. Top 3 Active stocks: ZETRIX (0138): RM0.060 (-0.5 sen) GIIB (7192): RM0.500 (+14.0 sen) NIHSIN (7215): RM0.340 (+8.0 sen) Top 3 Gainer stocks: MEGAFB (5327): RM2.88 (+66.0 sen) F&N (3689): RM20.28 (+32.0 sen) PETDAG (5681): RM19.78 (+28.0 sen) Top 3 Loser stocks: VITROX (0097): RM10.48 (-42.0 sen) MI (5286): RM6.30 (-23.0 sen) CARLSBG (2836): RM12.58 (-22.0 sen) Volume: 2.65 bn (100-bar avg vol: 3.44 bn) Value: RM2.10 bn (100-bar avg val: RM2.91 bn) Market Breadth: ⬆️324 ⬇️774 Crude Palm Oil: RM4,681 (-RM35, -0.75%) Dow Futures: 52,087 pts (+169 pts) **Source: M+Global, Bloomberg **

M+ Global Market Update – 02Nov26 AI Spending Concerns Keep Markets Selective US: Wall Street may remain under pressure following Friday's tech-led sell-off, as Intel's weak outlook and rising AI investment costs reignited valuation concerns. Investors will also monitor Tuesday's US midterm elections and Monday's ISM Manufacturing PMI. Meanwhile, attention shifts to earnings from Apple (AAPL) and Palantir (PLTR) on Monday. Apple's iPhone demand, Services growth and holiday-quarter guidance will offer insights into consumer spending and mega-cap technology resilience, while Palantir's commercial AI growth will test whether enterprise AI adoption is translating into sustainable revenue. MY: The FBM KLCI may trade cautiously amid weaker global technology sentiment, although fresh corporate developments could provide stock-specific opportunities. CDB may attract interest after securing MCMC's spectrum assignments for the 2,600MHz and 900MHz bands on 30 October, strengthening network capacity and coverage, albeit with additional spectrum costs, including RM42m in annual fees for the 2,600MHz band. Meanwhile, TAANN may attract interest following its reported strong 3QFY26 production performance, with crude palm oil (CPO) output rising 23% YoY to 97,610 tonnes and fresh fruit bunch (FFB) production increasing 30% to 236,443 tonnes, improving production volume visibility for its plantation operations. Stocks to watch: Construction: CHEEDING, *AWC* Oil & Gas: DAYANG, *KEYFIELD* Shipping: *MTTSL* Healthcare: *KPJ* Solar: *SAMAIDEN* Cybersecurity: *LGMS* Utilities: *RANHILL* Plantation: SOP Source: M+ Global

M+ Market Buzz - 2Nov26 Dow Jones: 51,770.31 pts (-572.29pts, -1.09%) ⬆️ Resistance: 53,700 ⬇️ Support: 50,600 FBM KLCI: 1,615.60 pts (+1.73pts, +0.11%) ⬆️ Resistance: 1,660 ⬇️ Support: 1,570 HSI Index: 23,294.42 pts (+335.72pts, +1.46%) ⬆️ Resistance: 23,900 ⬇️ Support: 22,500 Crude Palm Oil: RM4,681 (+RM65, +1.41%) ⬆️ Resistance: 4,900 ⬇️ Support: 4,540 Brent Oil: $113.43 (+$2.63, +2.37%) ⬆️ Resistance: 119.80 ⬇️ Support: 108.90 Gold: $3,875.64 (-$144.92, -3.60%) ⬆️ Resistance: 4,160 ⬇️ Support: 3,830 Source: Bloomberg, M+Global