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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.

DIGISTA-WA Finally Gets a Break!


Warrants holders have the right to subscribe for shares at exercise price to become shareholders of a listed company but they are not shareholders of the company.  Hence, warrant holders are not entitled to enjoy dividend.  However, warrants holders do get protection from dilution arising from corporate exercises such as bonus issues and rights issues.  One thing warrants holders are not protected is when company undertakes private placements.  Private placements increase the share capital of the company and thus dilute the percentage of shareholding arising from exercise of warrants.  While a ten percent private placement does not dilute warrants holders very much, a few of such private placements do affect the warrants somewhat.

Accounting Irregularities Hit Frontken despite Better Profit


The share price of surface treatment specialist Frontken Corporation Berhad dropped significantly to as low as 5.5 sen after the company announced on 27 February 2013 about potential accounting irregularities involving one of its wholly owned subsidiary.  Such irregular dealings were unveiled following the resignation of senior management personnel of the subsidiary.  The potential impact of such dealings totalled some RM8.9 million and it had been provided for in the accounts of six financial years between 2006 and 2012.  The board of Frontken indicated the above incident will not have additional financial impact on the company given the amount had already been fully provided for.

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Warrant Ranking by Premium (7 Aug 2016)

The following is the list of Warrant Ranking by Premium

Warrant Ranking 7 Aug 2016 by Premium


The following is a list of loan stock listed on Bursa Malaysia as at (date).

Malaysia Loan Stock Analysis 270515

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

The following is a list of change in shareholdings as at (date).

May 2015 (1 May 2015 - 31 May 2015)

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