1. For 4 Q2016, result above expectation even if we stripped off 1 time gain due to higher sales & better contribution from JV.

2. Main beneficiary of massive Pan Borneo Highway.

3. 25% stake in OM Sarawak is turning around with improving of ferosilicon market and closing of its hedging position 2Q2016.

4. Monopolistic business nature by CMSB in Sarawak.

5. 50% stake in Sacofa is bearing fruit.( Safoca holds a 20 years concession to construct, own and manage and construct telecommunication tower in Sarawak).

6. From above Ta chart, there is smart money accumulation with price well supported above 50D MA and 200d MA.

7.With TP of RM4.9 at current price RM4.19, there is 17% upside. Exit strategy is below RM4.00 (-4.5%) with high volume. Reward is higher than the risk we take. 

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