User Login Register Regain password
Email Username

Global Derivatives Articles

Aturmju-pa: Another discount trap

Bursa Malaysia recently witnessed two rights issues exercise involving the issuance of quasi-warrant instruments in the form of ICPS (Irredeemable Convertible Preference Shares).  The number of ICPS issued in these exercises are far larger than the number of ordinary shares outstanding prior to the conversion of these ICPS.  Another feature of these ICPS is that they can be converted to mother share either via exchange of equivalent value of ICPS according to conversion ratio or by tendering at least a unit of ICPS and topping up the balance via cash to “exercise” into the mother share.  As oppose to warrants issuance where a listed company can only issue up to 50% of the outstanding mother share, there is no restriction placed on convertible securities such as ICPS or ICULS even though these instruments can have warrants-like characteristics.

ORION-WA Price May be Capped Ahead of Placement

The share price of Orion IXL Berhad (Orion) has attracted investors’ interest ever since the company announced its entry into the fintech area late last year.  Orion announced on 21 December 2018 that its wholly owned subsidiary Ganda Integrasi Sdn Bhd (GISB) entered into a sale and purchase agreement with THO Travel & Tours Sdn Bhd (THO Travel) to acquire 10,000 ordinary shares, representing 10% equity interest in Sukaniaga Sdn Bhd (Sukaniaga) from THO Travel for a cash consideration of RM10 million.  Sukaniaga and MyAngkasa Holdings Sdn Bhd (Angkasa) had signed a service level agreement for the development of a fintech system, called Angkasa Az-Zahara, which provides online digital end-to-end solutions from the stage of the loan application to the loan approval process, including its operation and maintenance.

Beware Tatt Giap’s ICPS/warrants discount trap

The share price of Tatt Giap Group Berhad has been surging since the middle of October last year when it went from under 6 sen to reach a high of 37.5 sen on 4 January 2019.  The share price run up was accompanied by the company implementing a right issue exercise which saw Tatt Giap issuing 682 million or Irredeemable Convertible Preference Shares (TATGIAP-PA) at an issue price of 6 sen.  The rights issue was implemented on the basis of 8 ICPS with 1 free warrant for every 2 shares held on entitlement date.  This rights issue was marginally oversubscribed after accounting for excess applications of 32.5%. 

CHHB-WB : New Warrant Undervalued amid mother share price surge

The new warrant of Country Height Holdings Berhad (CHHB-WB), opened trading in Bursa Malaysia on 28 December 2018 at 43 sen but ended the first day of trade at 31 sen. This new warrant was given free to shareholders as a bonus issue on the basis of one free warrant for every two shares held.  A total of 136.78 million warrants were issue.  CHHB-WB ended trading in 2018 at 36 sen while the surging mother share closed at RM1.46 on 31 December 2018.

JAKS-WB : Bullish investors to buy mother share

JAKS-WB, the new company warrant Jaks Resources Berhad (Jaks), made its debut at Bursa Malaysia on 20 December 2018 below its issue price of 25 sen.  The warrant opened at 17.5 sen and traded as low as 15 sen before making its recovery to close the first trading day at 21 sen.  JAKS-WB subsequently climber to 25.5 sen at the close of Christmas Eve. The mother share of Jaks, which was trading above 90 sen in early November, saw its price collapsed in the last few weeks and traded as low as 40.5 sen on 18 December before recovering somewhat to close at 50 sen on Christmas Eve.

More Articles...

Page 7 of 61

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

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)

Web Developed byGrifello