BIMB SECURITIES

📱 BIMB SECURITIES RESEARCH: WEEKLY MARKET UPDATE 📱 Theme of the Week: "Backing the Locals" — Domestic Liquidity Anchors Market Amid Foreign Selling 📉 MARKET PERFORMANCE OVERVIEW FBMKLCI: Slipped -0.6% WoW to close at 1,725.9 (+2.7% YTD). Foreign Funds: Recorded a net outflow of -RM366mn in a holiday-shortened trading week. Outflows were heavily concentrated in major banks (Public Bank, AmBank, RHB), while inflows targeted Transportation, Healthcare, and Property (Westports, KPJ, SD Guthrie). Local Investors: Local Institutions (+RM201mn) and Local Retail (+RM165mn) continued their net buying streak to absorb foreign selling. Sectors: Construction led gains (+1.6% WoW) on strong order-book momentum, followed by Industrial Products (+1.1%). REITs lagged (-1.9% WoW) alongside Tech (-1.8%) and Plantations (-1.4%). 📊 COMMODITIES & FOREX SNAPSHOT Ringgit (USDMYR): Strengthened -0.3% WoW to 4.03, despite the US Dollar Index (DXY) firming to 99.70. Brent Crude: Dropped -5.4% WoW to USD89.31/bbl as US-Iran developments shifted toward sanctions rather than active supply threats. CPO: Eased -3.4% WoW to RM4,628/MT. Gold: Fell -3.2% WoW to USD4,455.11/Tr Oz under pressure from a firmer dollar. 🎯 STRATEGY & MARKET OUTLOOK A strengthening Ringgit at 4.03 and lower commodity prices help keep domestic inflation risks well-contained. As the August corporate reporting season concludes, local institutional buying remains the primary floor supporting local equities. We recommend positioning in sectors supported by both foreign inflows and domestic liquidity (Transportation and Healthcare), while selectively accumulating quality large-cap names that benefit from domestic institutional backing. Key catalysts to watch: US interest rate expectations, upcoming US inflation prints, earnings revisions, and new data-centre contract awards. 🔥 TOP WATCHLIST FOR THE WEEK 1. ⚓️ Westports (BUY; TP: RM7.55) Our View: Top foreign net buy in Week 35 (+RM102.7mn); resilient port operator delivering steady throughput growth. 2.⚡️ Tenaga Nasional (BUY; TP: RM16.77) Our View: Premier utility anchor for data-centre power infrastructure, generating stable regulated cash flows. 3. 🏥 IHH Healthcare (BUY; TP: RM10.42) Our View: Highly defensive hospital group benefiting from expanding medical-tourism revenues. 4. 🏦 RHB Bank (Non-Rated; Price: RM8.50) Our View: Retained on attractive valuation metrics and strong dividend yields despite broad foreign selling in banking. 📊 Quant-Selected ERP5 Pick: 5. 🪵 WTK Holdings (Non-Rated) - Quant-screened selection trading at attractive value metrics with a strong balance sheet and longer-term oil palm estate expansion upside. Prepared for investor reference only. Please do your own assessment and risk mitigation or consult with your licensed dealer representative before making investment decisions. Source: Condensed from BIMB Securities Research Strategy Report (1 September 2026).

📱 BIMB SECURITIES RESEARCH: WEEKLY MARKET UPDATE 📱 Theme of the Week: "Sitting Out the Rally" — Local Support Cushions Heavy Foreign Outflows 📉 MARKET PERFORMANCE OVERVIEW FBMKLCI: Slipped -0.5% WoW to close at 1,727.4 (up +2.8% YTD), lagging regional peers like KOSPI (+11.5%) and Nikkei (+4.7%). Foreign Funds: Heavy net selling accelerated to -RM624mn (led primarily by large sell-offs in Maybank). However, foreign buying selectively flowed into ports, telecommunications, and energy names like Westports, Axiata, and RHB Bank. Local Investors: Local Institutions (+RM355mn) and Local Retail (+RM268mn) stepped up jointly to absorb the heavy offshore selling pressure. Sectors: Utilities led performance (+4.4% WoW, +8.1% YTD) powered by data-centre energy demand, followed by Energy (+2.8%) and Tech (+1.9%). Plantation lagged (-2.2% WoW) amid foreign outflow from major planters. 📊 COMMODITIES & FOREX SNAPSHOT Ringgit (USDMYR): Maintained stability at 4.09 (-0.1% WoW) as the Dollar Index (DXY) held below 100 at 99.67. Brent Crude: Rebounded +5.9% WoW to USD88.52/bbl on renewed Middle East supply concerns and tighter market forecasts. CPO: Flat at RM4,528/MT (0.0% WoW). Gold: Rose +0.8% WoW to USD4,376.40/Tr Oz. 🎯 STRATEGY & MARKET OUTLOOK A resilient domestic economy (2Q GDP at 6.0%) paired with a steady Ringgit near 4.07 provides a supportive structural backdrop. With foreign flows staying choppy, local institutional liquidity remains the primary market anchor during the ongoing August corporate reporting season. We recommend positioning in quality utilities, port operators, and selective data-centre infrastructure names that continue to draw foreign interest despite broad index selling. Key catalysts to watch: August corporate earnings results, US CPI inflation prints, and further data-centre contract awards. 🔥 TOP WATCHLIST FOR THE WEEK ⚓️ Westports (HOLD; TP: RM5.70) Our View: Top foreign net buy counter (+RM76.9mn); defensive port operator backed by strong cargo throughput. ⚡️ Tenaga Nasional (BUY; TP: RM16.77) Our View: Anchor utility play capturing powerful structural demand from ongoing data-centre power build-outs. 🏥 IHH Healthcare (BUY; TP: RM10.16) Our View: Defensive healthcare leader benefiting from strong international patient flows and high-margin medical tourism. 🏦 RHB Bank (Non-Rated; Price: RM8.50) Our View: Recipient of top 3 foreign inflows (+RM24.0mn), offering an attractive large-cap dividend yield. 📊 Quant-Selected ERP5 Picks: 💻 VSTECS (BUY; TP: RM2.14) - Pure-play distributor of ICT hardware, enterprise servers, and AI data-centre gear. 🔩 Wentel Engineering (Non-Rated) - Quant-screened precision metal fabricator servicing the semiconductor and security equipment supply chains. Prepared for investor reference only. Please do your own assessment and risk mitigation or consult with your licensed dealer representative before making investment decisions. Source: Condensed from BIMB Securities Research Strategy Report (17 August 2026).