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IFCAMSC-WA: A Beneficiary of GST Implementation

The implementation of Goods and Services Tax (GST) by the government starting next April will results in companies needing to upgrade their internal business and accounting system.  A prime beneficiary of GST implementation is IFCA MSC Berhad (IFCAMSC), an integrated business software provider specializing in the property industry.  In its latest annual report, IFCAMSC stated that it was the first property software company to have gained certification and accreditation from the Royal Malaysian Customs on 12 March 2014.

SYMLIFE-WB – New Warrant Underpriced on Profit Taking

A new warrant made its debut in Bursa Malaysia this week. This warrant was issued free to shareholders as well as Employee Share Trust and directors of the company. While bonus warrants to shareholders are quite common, SYMLIFE-WB is perhaps the first company warrant issued free of charge to company directors. SYMLIFE-WB opened trading on Bursa Malaysia at 30.5 sen but profit taking this free security took the warrant down as low as 22 sen before recovering to close on 24 sen on the first day of trading which was on 19 November. The warrant price rose to close at 25.5 sen on 20 November with the mother share price last traded at RM1.04.

MARCO-WA offers Shareholders Arbitrage Opportunity


The share price of timepiece and consumer electronics products specialist Marco Holdings Berhad had climbed up steadily from 14 sen in the beginning of this month to about 18 sen now.  While its company warrant MARCO-WA had risen even more in percentage term than the mother share, chalking of gain of more than 50% in the month of May compared with about 30% gain for the mother share, punters are not overly excited with the warrant as MARCO-WA is trading at a significant discount to conversion.

LBS Asset Disposal and Major Shareholders’ Continued Accumulation Supporting Share Price


Property developer LBS Bina Group announced last month that it has through its indirect subsidiary Dragon Hill Corp Ltd. signed a conditional sales and purchase agreement with Zhuhai Holding Investment Group Ltd, a company listed on the Hong Kong Stock Exchange, to dispose its property development subsidiaries in Zhuhai for HKD1.65 billion.  The sales consideration is to be satisfied partly via cash payment of HKD1.35 billion and partly via issuance of 225.6 million new shares in Zhuhai Holding Investment Group Limited at an issue price of HKD1.33 per share.

FRONTKN-WA attracts interest on Underlying Share’s 47 sen off Market Trade

The shares and warrants of surface treatment specialist Frontken Corporation Berhad attracted huge interest and the mother share topped Bursa Malaysia mid-day volume list after a block of 27.6 million shares crossed at 47.6 sen late Friday, which was a hefty premium of nearly 700% above market price. Stock market data showed the 2.72% stake, which was transacted in an off-market deal at 47.6 sen, was 41.1 sen above the then market price of 6.5 sen.  According to Frontken annual report, this exact block of shares could be traced to Malaysia Nominees (Asing) Sendirian Berhad for OCBC Capital Investment (Asia) Limited (OCIA), which is the fourth largest shareholder of the company.  Interestingly, OCIA was involved in a lawsuit against former Frontken major shareholder Wong Hua Choon.

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