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Company Warrants

FRB-WA: Lagging Underlying Share Following Shareholding Change

The share price of Formis Resources Berhad (FRB) has risen significantly recently following the change of substantial shareholders.  There was a change in shareholding in Red Zone Development Sdn Bhd, which owns 19.36% equity interest in FRB.  According to announcements to Bursa Malaysia, Wong Kit Leong and Raymond Tan replaced Kamal Effendy Abdul Rashid as shareholder in Red Zone Development.  FRB's price rise may also be attributed to the speculative activity at its 59% subsidiary Diversified Gateway Solutions Berhad (DGSB).  FRB currently has a market capitalization of RM164.5 million while DGSB’s market value is RM108.5 million based on their closing prices on 17 April 2012.

German Investor Emerged as Frontken largest shareholder

Amidst the market weakness over the last few months, surface treatment specialist Frontken Corporation Berhad has possibly seen a change in control after Jorg Helmut Hohnloser, a German investor, acquired 119.75 million shares from Frontken Executive Chairman cum Managing Director Wong Hua Choon on 25th October. Hohnloser ended up with 172.5 million or 17.1% of the company after the latest acquisition.  Hohnloser’s stake is held under Kim Eng Securities Pte Ltd.  Wong, who was Frontken’s single largest shareholder with direct stake of 21.2% before the share sale, ended up with only 9.4% direct stake.  He still owns another 2.3% indirectly via Frontken Holdings Pte. Ltd.

Top Chinese Broker Launches Malaysian Equity Fund with Warrants Exposure

Huatai Financial Holdings (HK) Limited, a wholly owned subsidiary of Huatai Securities Co Ltd (SHA:601688), is launching a Malaysia equity fund,  Huatai Von Malaysia Fund Segregated Portfolio with Von Capital Limited.  This Cayman Islands domiciled-fund is a sub-fund of Huatai HK Select Investment Fund Series.  Malaysian warrants specialist Alan Voon is the co-chairman of Huatai Von Malaysia Fund.  Mr. Voon is also the President/CEO of Von Capital, a company registered with the New Zealand Companies Office Financial Service Providers Register (FSP No. 161784). 

 

FRB-WA may Attract Interest on Insas and Ho Hup Connections

Formis Resources Berhad (FRB) announced today that Insas Berhad has emerged as a substantial shareholder with 12.1 million shares or 6.5% in the company.  This may have come from the part of 30 million shares of FRB done off market yesterday at 85 sen.  At the same time, Insas also extended term loan facilities of RM75 million via Insas Credit & Leasing Leasing Sdn Bhd to Ho Hup Construction Berhad, paving the way for Ho Hup to regularize itself out of PN17.  FRB bought more than 20% in Ho Hup at the end of last month.

New IPO With Free Warrants – “Caveat Emptor”

Giving free warrants to IPO subscribers has resurfaced in Bursa Malaysia this year after many years of absence.  Sunway Infrastructure Berhad was the first company who gave away free warrants when it was listed in 2003.  This year, MClean Technologies and soon to be listed Hibiscus Petroleum are the ones who give free warrants to IPO subscribers.  Unfortunately, giving away free warrants also means that the IPO price is overpriced.  Investors who are attracted to the free warrants attached to IPO must know that the warrant is actually “not free” because the “overvalued” IPO price will most likely drop due to profit taking.  In any case, investors should wonder why is there a need to give away free warrants at IPO stage.

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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

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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