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Warrant in Focus : LBS-WA

LBS-WA is showing some signs of life again after laying low for a while.  This warrant surged from a low of 3.5 sen in October 2008 to a high of 55 sen in January this year possibly on the prospects of its property development project in Zhuhai, China following the commencement of building of the Hong Kong-Macao-Zhuhai Bridge.


Nevertheless, the stock and warrant prices fell substantially since as the market corrected. But news report recently on LBS going to launch the Zhuhai project had lent support to the share.  LBS managing director Datuk Lim Hock San was quoted by the press a few days ago that the project's gross development value (GDV) will exceed RM5 billion. LBS also recently signed an agreement with MIMB Investment Bank Bhd, a unit of EON Bank Bhd, to act as the principal adviser and lead arranger for a RM135 million sukuk (Islamic bond) programme to finance LBS' projects.


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