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Malaysia Warrants News

Should We Choose Oil and Gas warrants with Higher Implied Volatilities?

With oil and gas counters the flavour of the day, let’s take a look at the companies with substantial oil and gas related business which have company warrants listed on Bursa Malaysia.  The following table summarizes the list of oil and gas warrants sorted from the lowest price to the highest price.

Attractive Rights Issue with 2 Free Warrants - A Catalyst for Share Price?

Sumatec Resources Berhad announced the book closure date for its Rights Issue yesterday.  The ex-date for its 1 for 3 Rights Issue has been fixed on 7th February.  The interesting aspect of this rights issue is that it comes with two free warrants.  The rights issue price for its new shares is 35 sen, which is the new par value of the company’s share.

Rights issues which come together with free warrants as sweeteners usually does not come with more than one free warrant for each share subscribe.  The norm is one free warrant for one rights share.  Company can only issue warrants up to half of its total number of shares outstanding at any one time.  Therefore only small rights issues (1 for 3 rights issue or more) can afford to give away more than one free warrant.  Usually company also does not maximize the free warrants more than necessary so that it can have some reserve left for next round.

Which Affin call warrant to punt?

The share price of Affin Holdings Berhad has risen over the last few days on takeover rumuors and possible earnings surprise.  There are three call warrants on Affin which are listed on Bursa Malaysia.  AFFIN-CA and AFFIN-CD are issued by CIMB while AFFIN-CC is issued by Kenanga.

FITTERS-WA – Candidate for Trading and Cash Extraction

The price of Fitters Diversified Berhad warrant (FITTERS-WA) has been lagging the price rise of the mother share recently.  Fitters’ mother share has risen 13.4% since the start of 2011 from 71 sen to 80.5 sen while the warrant only managed a rise of 9% from 27.5 sen to 30 sen.

Active Warrant : JOTECH-WA

After spending more than a month consolidating between 3 to 4 sen on negligible volume, JOTECH-WA sprang to live yesterday rising as high as 4.5 sen on a relatively high volume of 19.7 million before settling down to close at 4 sen.  This follows a sharp jump in price and volume of the underlying share to close at 11 sen on volume of 25 million shares.

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