Company Update � Globetronics (BUY, maintain)

Top Calls

Company Update � Globetronics (BUY, maintain) - Local NDR highlights: volume starting to kick in We accompanied Globe�s management on a local NDR yesterday, meeting up with over 20 clients (from 15 organisations). The focus was largely on the sensor division and, in particular, the new light sensor, which recently began commercial production. We believe that the meetings were able to quell concerns over the likely strong earnings ramp up in 2H17E. We reaffirm our BUY call and TP of RM8.

Other Calls

Company Update � Sapura Energy (HOLD, maintain) - Another four contracts in the bag

Company Note � Padini (NOT RATED) - Value for money

Economic Update � ASEAN Weekly Wrap - Indonesia�s CPI trended higher in May, but within 3-5%

Morning News & Market Summary

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