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OWG-WA: Attractive if mother price stabilises

OWG-WA, the new company warrant of Only World Group Holdings Berhad, made its debut on 5 October 2018 at Bursa Malaysia.  OWG-WA was issued free to shareholders of Only World Group via a bonus issue on the basis of one free warrant for every two shares held.  A total of 133.55 million warrants were issued to the shareholders.  OWG-WA had a good debut at 32 sen on the first day of trading and rose to as high as 36.5 sen.  However, an off-market trade of 25 million warrants representing more than 18% of OWG-WA at 18 sen on 5 October, sent the warrant tumbling over the next few days as investors found out the major shareholders and co-founders of the group disposed the block of warrants.  At the close of trading on 16 October, OWG-WA was last traded at 19 sen while the mother share closed at 73.5 sen.  Only World Group share price has lost over 23% in eight trading days ever since the insiders disposed such a large chunk of warrants on the first day of trading.

YONGTAI-WA: Mother share preferred

YONGTAI-WA: Mother share preferred

The share price of Yong Tai Berhad and its warrant YONGTAI-WA came under pressure after the company reported a lower than expected earnings in their latest financial year which ended 30 June 2018 in late August.  The mother share price plunged from above 90 sen in late August to as low as 60 sen on 4 October before purchase of shares by Chief Executive Officer Datuk Wira Boo Kuang Loon steadied the price and led to a rebound.  At the close of trading on 9 October, Yong Tai mother share and warrant last traded at 69 sen and 41.5 sen respectively.

OCR-PA and OCR-WC: Issue size matters

The share price of OCR Group Berhad (OCR) received a lift earlier this week after the company posted a sharp jump in profit before tax despite a dip in revenue.  OCR share price rose to a high of 34.5 sen after the announcement of the of the latest quarterly results.  OCR also has a warrant-likeIrredeemable Convertible Unsecured Loan Stock (OCR-PA) and a warrant (OCR-WA) traded on the stock exchange.  However, trading on the both of these instruments are not as active as the mother share.

Renewed interest in Nextgreen

Interest in Nextgreen Global Berhad shot up recently after Pelaburan Mara Berhad disposed all its 37.07 million shares representing just above 8% of the share capital of the company in an off-market deal on 20 September 2018.  Dato Lim Thiam Huat, the Managing Director of Nextgreen Global also disposed 7.93 million shares on the same day which saw the emergence of Multiway Trading Ltd. as a substantial shareholder of the company with the purchase of 45 million shares.  According to Bursa Malaysia information, the shares changed hand at 35 sen.  Nextgreen Global share price has since rose to close at 42.5 sen on 25 September 2018.  The company warrant NGGB-WA ended trading at 11 sen on the same day.

SMCAP-WC Valuation Demanding

The new company warrant of Sinmah Capital Berhad , SMCAP-WC, made its debut at Bursa Malaysia on 12 September 2018 closing the first day of trading at 9 sen.  The warrant has subsequently risen in line with the rebound in the mother’s share price which had earlier fallen to a multi-year low of 18.5 sen on 12 September. Sinmah Capital share price rose to close at 22 sen on 18 September 2018 while SMCAP-WC ended trading on that day at 14 sen.

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Analysis

Warrant Ranking by Premium (7 Aug 2016)

The following is the list of Warrant Ranking by Premium

Warrant Ranking 7 Aug 2016 by Premium

MALAYSIA LOAN STOCK ANALYSIS 27 MAY 2015

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Malaysia Loan Stock Analysis 270515

Change in Shareholdings (1/5/2015 - 31/5/2015)

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May 2015 (1 May 2015 - 31 May 2015)

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