Eastspring Investments Growth Fund

Annual Report

Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
value of the
RM 31.12.2019
Fund
RM
%

Industrial Products & Services

Cahya Mata Sarawak

Berhad 128,000 310,003 290,560 0.30
319,199 312,650 0.32
HSS Engineers Berhad 370,000
3,712,313 3,219,300 3.28
Petronas Chemicals 437,472 441,000 0.45
511,570 527,960 0.54
Group Berhad 438,000 4.89
5,290,557 4,791,470
Sunway Berhad 245,000 0.73
712,035 719,440 2.49
V.S. Industry Berhad 394,000 2,456,497 2,443,300
1.83
1,575,000 1,718,861 1,795,520
3.15
Plantation 2,805,428 3,090,150 8.20
7,692,821 8,048,410
Genting Plantations 0.68
691,757 665,880
Berhad 68,000 0.83
935,961 812,490
IOI Corporation Berhad 530,000 0.55
509,565 542,595 2.06
Kuala Lumpur Kepong 2,137,283 2,020,965
0.51
Berhad 72,400 444,470 497,070
1.85
Sime Darby Plantation 2,108,200 1,813,052 2.36
2,552,670 2,310,122
Berhad 567,000

1,237,400

Property

IOI Properties Group

Berhad 537,000

Malaysian Resources

Corporation Berhad 1,113,000

Sime Darby Property

Berhad 593,000

2,243,000

REITS

IGB Real Estate Investment

Trust 263,000

KIP Real Estate Investment

Trust 2,108,200

2,371,200

Client Services : 03-2778 1000 47

Eastspring Investments Growth Fund

Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
Technology value of the
D & O Green Technologies 688,000 RM 31.12.2019
Fund
Berhad 475,000 RM
Globetronics Technology %
44,500
Berhad 455,000 555,147 584,800 0.60
Malaysian Pacific 1,662,500
1,112,164 1,106,750 1.13
Industries Berhad
MY E.G. Services Berhad 509,925 509,080 0.52
505,050 500,500 0.51
2,682,286 2,701,130 2.76

Telecommunications & Media

Axiata Group Berhad 845,677 3,896,700 3,501,103 3.57
1,502,609 1,489,640 1.52
Digi.Com Berhad 334,000 2,170,138 2,026,920 2.06
1,943,518 2,016,960 2.05
Maxis Berhad 381,000 1,023,420 1.04
935,233 10,058,043 10.24
Telekom Malaysia Berhad 528,000 10,448,198

Time Dotcom Berhad 111,000

2,199,677

Transportation & Logistics 115,000 518,650 527,850 0.54
Lingkaran Trans Kota
137,000 1,148,526 1,041,200 1.06
Holdings Berhad 244,000 1,978,900 2,037,400 2.08
Malaysia Airports 321,000 0.48
817,000 502,140 475,080 4.16
Holdings Berhad 4,148,216 4,081,530
MISC Berhad
Pos Malaysia Berhad

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Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
Utilities value of the
Petronas Gas Berhad RM 31.12.2019
Tenaga Nasional Berhad Fund
YTL Corporation Berhad RM
%
TOTAL QUOTED
SECURITIES 122,000 2,199,701 2,027,640 2.07
519,000 8,242,343 6,881,940 7.01
706,000 0.70
1,347,000 612,243 691,880 9.78
11,054,287 9,601,460
99.29
24,210,977 108,331,390 97,451,898

ACCUMULATED (10,879,492)
UNREALISED LOSS
ON FINANCIAL
ASSETS AT FAIR
VALUE THROUGH
PROFIT OR LOSS

FAIR VALUE OF 97,451,898
FINANCIAL ASSETS
AT FAIR VALUE
THROUGH PROFIT OR
LOSS

Client Services : 03-2778 1000 49

Eastspring Investments Growth Fund

Quoted securities

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
Construction value of the
IJM Corporation Berhad RM 31.12.2018
Fund
RM
%

485,000 1,250,621 785,700 0.69

Consumer Products & Services

Airasia Group Berhad 850,000 2,803,024 2,524,500 2.21
5,500,660 4,251,700 3.72
Genting Berhad 697,000 5,549,755 3,983,380 3.48
0.41
Genting Malaysia Berhad 1,319,000 573,883 463,320
2.20
Padini Holdings Berhad 132,000 2,441,794 2,517,500 2.15
2,374,477 2,461,200 2.12
Petronas Dagangan 2,416,998 2,426,400 16.29
21,660,591 18,628,000
Berhad 95,000 2.48
2,043,466 2,839,430
PPB Group Berhad 140,000

Sime Darby Berhad 1,011,000

4,244,000

Energy

Dialog Group Berhad 913,000

Financial Services 120,000 943,524 820,800 0.72
Bursa Malysia Berhad
CIMB Group Holdings 1,084,532 7,293,211 6,192,678 5.42

Berhad 118,000 2,224,871 2,407,200 2.11
Hong Leong Bank
120,000 2,216,885 2,227,200 1.95
Berhad 866,238 8,560,766 8,229,261 7.20
Hong Leong Financial 435,000 10,465,486 10,770,600 9.42

Group Berhad 585,200 2,392,204 2,223,760 1.95
Malayan Banking Berhad 3,328,970 34,096,947 32,871,499 28.77
Public Bank Berhad
Syarikat Takaful Malaysia

Keluarga Berhad

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Annual Report

Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
Health Care value of the
Hartalega Holdings RM 31.12.2018
Fund
Berhad RM
Kossan Rubber Industries %

Berhad 376,000 2,382,129 2,308,640 2.02
Top Glove Corporation
1,084,000 4,368,855 4,704,560 4.12
Berhad
412,000 2,282,540 2,307,200 2.02
1,872,000 9,033,524 9,320,400 8.16

Industrial Products & Services

Petronas Chemical

Group Berhad 507,000 4,297,129 4,710,030 4.12

Press Metal Aluminium 2,368,232 2,352,210 2.06
1,632,717 1,000,100 0.87
Holding Berhad 487,000 8,298,078 8,062,340 7.05

V.S. Industry Berhad 1,370,000 2,456,497 2,358,500 2.06

2,364,000 3,533,760 3,534,960 3.09

Plantation 2,420,065 2,427,600 2.12
8,410,322 8,321,060 7.27
IOI Corporation Berhad 530,000
642,818 601,911 0.53
Kuala Lumpur Kepong
252,650 60,636 0.05
Berhad 143,000 895,468 662,547 0.58

Sime Darby Plantation

Berhad 510,000

1,183,000

Property

LBS Bina Group Berhad

- Right 584,380

Sentoria Group Berhad

- Warrant 1,010,600

1,594,980

Client Services : 03-2778 1000 51

Eastspring Investments Growth Fund

Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
REITS value of the
IGB Real Estate Investment RM 31.12.2018
Fund
Trust RM
KIP Real Estate Investment %

Trust 700,000 1,183,000 1,211,000 1.06

Technology 2,108,200 2,108,200 1,581,150 1.38
Globetronics Technology 2,808,200 3,291,200 2,792,150 2.44

Berhad 894,600 2,094,614 1,565,550 1.37
Inari Amertron Berhad 1,764,508 1,328,457 2,646,762 2.32
MI Equipment Holdings
463,000 1,156,000 1,037,120 0.91
Berhad 120,800 163,497 759,832 0.66
Vitrox Corporation Berhad 6,009,264 5.26
3,242,908 4,742,568

Telecommunications & Media

Digi.Com Berhad 680,000 3,095,768 3,060,000 2.68
588,380 591,300 0.52
Time Dotcom Berhad 73,000
3,684,148 3,651,300 3.20
753,000

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Annual Report

Quoted securities (continued)

Name of counter Quantity Aggregate Fair value Percentage
Units cost as at of net asset
Utilities value of the
Petronas Gas Berhad RM 31.12.2018
Tenaga Nasional Berhad Fund
RM
TOTAL QUOTED %
SECURITIES
67,000 1,231,701 1,286,400 1.13
570,000 9,052,284 7,752,000 6.78
7.91
637,000 10,283,985 9,038,400
90.10
23,426,058 107,690,918 102,982,090

ACCUMULATED (4,708,828)
UNREALISED LOSS
ON FINANCIAL
ASSETS AT FAIR
VALUE THROUGH
PROFIT OR LOSS

FAIR VALUE OF 102,982,090
FINANCIAL ASSETS
AT FAIR VALUE
THROUGH PROFIT OR
LOSS

Client Services : 03-2778 1000 53

Eastspring Investments Growth Fund

8. CASH AND CASH EQUIVALENTS

Bank balance with a licensed bank 2019 2018
Deposit with a licensed financial institution RM RM

554,562 45,051
530,044 10,871,013
1,084,606 10,916,064

The effective weighted average interest rate of short term deposit with a licensed
financial institution per annum as at the date of the financial position are as follow:

Deposit with a licensed financial institution 2019 2018
% %

3.05 3.40

The deposit have an average maturity of 2 days (2018: 2 days).
9. UNITS IN CIRCULATION

At the beginning of the financial year 2019 2018
Creation of units during the financial year: No. of units No. of units

Arising from applications 183,011,696 170,890,594
Arising from distribution
Cancellation of units during the 13,324,018 33,753,996
financial year - 7,281,947
At the end of the financial year
(36,390,198) (28,914,841)
159,945,516 183,011,696

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Annual Report

10. TRANSACTIONS WITH BROKERS
Details of transactions with the top 10 brokers are as follows:

Name of brokers Value of Percentage Brokerage Percentage
trades of total fees of total
trades
RM RM brokerage
% fees

%

2019 23,488,978 21.46 49,764 21.42
14,523,579 13.27 31,282 13.47
Maybank Investment 11,341,282 10.36 23,906 10.29
Bank Berhad 20,454
9,693,037 8.86 18,008 8.81
CGS - CIMB Securities 8,513,611 7.78 7.75
Sdn Bhd
7,623,634 6.97 16,162 6.96
CLSA Securities Malaysia 7,052,261 6.39
Sdn Bhd 6,673,032 6.45 14,850 6.09
6,585,239 5.95
UOB Kay Hian Securities 5,395,381 6.10 14,147 4.86
(M) Sdn Bhd 8,544,063 8.01
109,434,097 6.02 13,819 100.00
Citigroup Global Markets
(M) Sdn Bhd 4.93 11,294
7.80 18,610
KAF Seagroatt & 100.00 232,296
Campbell Securities
Sdn Bhd

Affin Hwang Investment
Bank Berhad

Nomura Securities
Malaysia Sdn Bhd

RHB Investment Bank
Berhad

Credit Suisse Securities
(Malaysia) Sdn Bhd

Others

Client Services : 03-2778 1000 55

Eastspring Investments Growth Fund

Name of brokers Value of Percentage Brokerage Percentage
trades of total fees of total
trades
RM RM brokerage
% fees

%

2018 42,043,082 16.58 106,424 17.64
26,534,681 10.46 64,176 10.64
Maybank Investment 26,142,471 10.31 53,655
Bank Berhad 24,366,684 60,446 8.89
19,523,220 9.61 48,807 10.02
Credit Suisse Securities 17,444,271 7.70 44,752
(Malaysia) Sdn Bhd 16,674,569 6.88 42,146 8.09
6.57 7.42
CIMB Investment Bank 15,546,194 6.99
Berhad 12,662,106 6.13 35,049
12,298,522 5.81
UOB Kay Hian Securities 40,414,038 4.99 27,463 4.55
(M) Sdn Bhd 253,649,838 4.89
4.85 29,508 15.06
RHB Investment Bank 15.92 90,822 100.00
Berhad 100.00 603,248

J.P. Morgan Securities
(Malaysia) Sdn Bhd

Citigroup Global Markets
(M) Sdn Bhd

KAF Seagroatt &
Campbell Securities
Sdn Bhd

CLSA Securities Malaysia
Sdn Bhd

Kenanga Investment
Bank Berhad

Others

All brokers highlighted above are not related to the Manager.

56 Client Services : 03-2778 1000

Annual Report

11. UNITS HELD BY THE MANAGER

The related party of and its relationship with the Fund is as follows:

Related party Relationship
Eastspring Investments Berhad The Manager

Eastspring Investments Berhad No. of units 2019 No. of units 2018
2,610 RM 2,610 RM

1,602 1,630

The above units were transacted at the prevailing market price.

The units are held legally by the Manager and are within the prescribed limit allowed
by SC’s Guidelines on Unit Trust Funds. Other than the above, there were no units held
by the Directors or parties related to the Manager.

Client Services : 03-2778 1000 57

Eastspring Investments Growth Fund

12. MANAGEMENT EXPENSE RATIO (“MER”) 2019 2018
MER % %

1.62 1.66

MER is derived from the following calculation:

MER = (A + B + C + D + E) X 100
F

A = Management fee

B = Trustee fee

C = Audit fee

D = Tax agent fee

E = Other expenses (excluding transaction cost and withholding tax)

F = Average net asset value of the Fund calculated on a daily basis

The average net asset value of the Fund for the financial year calculated on a daily
basis is RM105,962,220 (2018: RM126,391,706).

13. PORTFOLIO TURNOVER RATIO (“PTR”) 2019 2018
PTR (times) 0.52 1.00

PTR is derived from the following calculation:

(Total acquisitions for the financial year + total disposals for the financial year) ÷ 2
Average net asset value of the Fund for the financial year calculated on a daily basis

where:
total acquisitions for the financial year = RM53,758,264 (2018: RM126,090,626)
total disposals for the financial year = RM55,675,833 (2018: RM127,559,212)

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Annual Report
14. APPROVAL OF FINANCIAL STATEMENTS

The financial statements have been approved for issue by the Manager on

17 February 2020.

Client Services : 03-2778 1000 59

Eastspring Investments Growth Fund TRUSTEE
NAME
CORPORATE DIRECTORY DEUTSCHE TRUSTEES MALAYSIA BERHAD

THE MANAGER COMPANY NO.
NAME 763590-H
EASTSPRING INVESTMENTS BERHAD
REGISTERED OFFICE & BUSINESS OFFICE
COMPANY NO. Level 20, Menara IMC
200001028634 (531241-U) No. 8, Jalan Sultan Ismail
50250 Kuala Lumpur
REGISTERED OFFICE
Level 25, Menara Hong Leong TELEPHONE NO.
No. 6, Jalan Damanlela 603-2053 7522
Bukit Damansara
50490 Kuala Lumpur FAX NO.
603-2053 7526
BUSINESS OFFICE
Level 22, Menara Prudential SALE & PURCHASE OF UNITS
Persiaran TRX Barat Eastspring Investments Berhad
55188 Tun Razak Exchange Level 22, Menara Prudential
Kuala Lumpur Persiaran TRX Barat
55188 Tun Razak Exchange
TELEPHONE NO. Kuala Lumpur
603-2778 3888
TELEPHONE NO.
FAX NO. 603-2778 1000
603-2789 7220

EMAIL
[email protected]

WEBSITE
www.eastspring.com/my

60 Client Services : 03-2778 1000

Annual Report

BRANCHES
Petaling Jaya
Eastspring Investments Berhad
A-17-P1 & M
Block A, Jaya One
72A, Jalan Universiti
46200 Petaling Jaya, Selangor

TELEPHONE NO.
603-7948 1288

Kota Kinabalu
Eastspring Investments Berhad
Suite E3, 9th Floor
CPS Tower, Centre Point Sabah
No. 1, Jalan Centre Point
88000 Kota Kinabalu, Sabah

TELEPHONE NO.
6088-238 613

ENQUIRIES
CLIENT SERVICES
603-2778 1000

Client Services : 03-2778 1000 61



Eastspring Investments Berhad 200001028634 (531241-U) Client Services
Level 22, Menara Prudential, Persiaran TRX Barat T: (603) 2778 1000
55188 Tun Razak Exchange, Kuala Lumpur [email protected]
T: (603) 2778 3888 F: (603) 2789 7220
eastspring.com/my