LBS Bina: LBS Bina, YPJ Plantations to develop MYR2.6b township in Johor. The group indirect subsidiary Biz Bina Development S/B (BBDSB) has teamed up with YPJ Plantations S/B to jointly develop a 541.4-acre mixed township in Kota Tinggi, Johor, with an estimated gross development value of MYR2.6b. Under the joint development agreement, YPJ Plantations will be entitled to 7.5% of the GDV of the proposed development or minimum guaranteed sum of MYR194.9m. BBDSB, meanwhile, will be entitled to the whole sales proceeds from the project less the landow

SECTOR RESEARCH Regional Plantations | KL price outlook conference Chee Ting Ong

MACRO RESEARCH Malaysia | Powerman Tee Sze Chiah

NEWS Outside Malaysia Other News

SECTOR RESEARCH RN: Regional Plantations KL price outlook conference by Chee Ting Ong Sector Note Speakers are generally in agreement that CPO price has peaked in Feb for 2017 and will trend lower in 2H17. However, the timing of the decline is debatable and its intensity will largely depend on the extent of the output recovery. Overall, the speakers are neutral-to-bearish on CPO prices, with 2017’s price expected to trade between MYR2,200-3,100/t. But weather remains the wild card in 2017 given the still tight stockpile situation. Our BUYs in the region are BPLANT, SOP, BAL, AALI, LSIP, TBLA Chee Ting Ong    (603) 2297 8678    ct.ong@maybank-ib.com

MACRO RESEARCH MY: TRADERS’ ALMANAC Powerman by Tee Sze Chiah Technical Research FBMKLCI Index ended a tad lower, losing 3.12pts to close at 1,725.54 yesterday. Broader market was mixed with gainers barely outpaced losers by 472 to 416. A total of 3.08b shares worth MYR2.43b changed hands yesterday. Weakness in US market overnight took toll on domestic market as FBMKLCI Index struggled to swing past 1,730. However, current setback would likely be temporary. Expect the benchmark index to range between 1,720 and 1,730 today. Downside support is now realigned to 1,715 and 1,700 Tee Sze Chiah    (603) 2082 6858    szechiah.t@maybank-ib.com

NEWS Outside Malaysia: Germany: Industrial production rebounded in January, reaffirming the country’s favorable economic outlook after factory orders slumped the most in eight years. Output, adjusted for seasonal swings and inflation, rose 2.8% from December, when it dropped a revised 2.4%, the Economy Ministry said. Production was unchanged from a year earlier. (Source: Bloomberg) U.K: Said to increasingly eye late March for triggering Brexit. Prime Minister Theresa May’s team increasingly expects the U.K. to trigger the start of Brexit talks in late March, according to two British officials and a European Union diplomat. While the end of next week remains an option if May can secure parliamentary approval, signs are mounting in both London and Brussels that she will hold back until after a March 25 summit of EU leaders in Rome. All three officials asked not to be named as the matter is private. (Source: Bloomberg) China: Imports surged in February with the nation posting a rare trade deficit as exports slipped. Analysts said seasonal factors mostly explain the swings. Imports soared 38.1% YoY in U.S. dollar terms as exports dropped 1.3% YoY. Trade deficit was USD 9.15b, the first negative reading in three years. (Source: Bloomberg) Japan: Strongest loan growth since bubble shows reflation at work. One measure of loans outstanding jumped by 2.9% YoY in February, and has gained at least 2% each month since the spring of 2013 -- a pace not seen in Bank of Japan records going back to 1992, the year Japan’s land-price bubble popped. The total outstanding loan book is now at the highest since 2001. Among the priorities in Abenomics has been shaking up corporate governance and the property market, and that might have contributed to the pick-up in credit. Financing for mergers and property purchases have combined with the economic expansion to spur lending demand, according to a BOJ official who wasn’t authorized to speak publicly. (Source: Bloomberg) Crude Oil: U.S stockpiles expand to record. Stockpiles rose by 8.2 million barrels to 528.4 million, the highest level in weekly data compiled by the Energy Information Administration since 1982. Crude output climbed a third week. Production from Libya’s Waha Oil Co. may be suspended as clashes in the country’s eastern oil region keep the main export terminals out of service. Organization of Petroleum Exporting Countries and other nations started trimming supply on Jan. 1 to reduce a global glut and stabilize prices. U.S. crude production is projected to surge to a record 9.73 million barrels a day next year, according to the EIA’s monthly Short-Term Energy Outlook. Brent for May settlement dropped 5% to USD 53.11/bbl. (Source: Bloomberg) Other News: LBS Bina: LBS Bina, YPJ Plantations to develop MYR2.6b township in Johor. The group indirect subsidiary Biz Bina Development S/B (BBDSB) has teamed up with YPJ Plantations S/B to jointly develop a 541.4-acre mixed township in Kota Tinggi, Johor, with an estimated gross development value of MYR2.6b. Under the joint development agreement, YPJ Plantations will be entitled to 7.5% of the GDV of the proposed development or minimum guaranteed sum of MYR194.9m. BBDSB, meanwhile, will be entitled to the whole sales proceeds from the project less the landowner's entitlement. (Source: The Edge Financial Daily) MB World: Township project to ride on Pengerang. MB World Group sees the multi-billion-ringgit oil and gas project , Pengerang Integrated Petroleum Complex (PIPC), pushing up demand for property in south-east Johor and other parts of the Kota Tinggi district. Executive director Ng Liang Khiang said the company was banking on the location of its township project Taman Sri Penawar near Desaru coast to attract potential property buyers from Johor and outside the state. He said the recent announcement by Saudi Arabian petroleum company Saudi Aramco to invest MYR31b in the Refinery and Petrochemical Integrated Development, or Rapid, project would further boost investor confidence in Pengerang. (Source: The Star) Enra: Buys 60-acre plot in Labuan for MYR7.57m. In a move to increase its land bank for property development, Enra Group is buying 60 acres of leasehold land in Labuan for MYR7.57m from a government agency. Enra said the purchase price for the second parcel will be 20% premium from the market value at the time of exercising the call option. The call option for the second parcel is exercisable over a period of 36 months from the completed acquisition date of the first parcel. (Source: The Edge Financial Daily)