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Global Derivatives Articles

GADANG-WB – Relatively High Valuation Affect Attractiveness

The share price of Gadang Holdings Berhad has staged a strong rally in April on the news that East Coast Rail Link (ECRL) has been revived and the company was said to have submitted its bid for jobs in ECRL.  The Company had on 18th  April announced that Gadang Engineering (M) Sdn Bhd,  its wholly-owned subsidiary had entered into a pre-bid consortium agreement with Million Rich Development Sdn Bhd, a wholly-owned subsidiary of DWL Resources Berhad to work with each other to bid for infrastructure projects and if successful, will jointly undertake a contract for such infrastructure works.  The share price of Gadang rose to as high as 96 sen on 22 April from under 70 sen in the beginning of April.  It has since retreated to hover around 80 sen for most part of May before staging a rally at the end of May to close the month at 86 sen.  The company warrant, GADANG-WB ended at 31.5 sen on 31st May 2019.

TEOSENG-WA: Affected by lacklustre debut of Leong Hup International

Teo Seng Capital Berhad’s share attracted investors’ interest in the earlier part of May 2019, reaching a 52-week high of RM1.43 on 9thMay following stronger earnings and in anticipation of the debut of the biggest IPO of the year of Leong Hup International Berhad.  Teo Seng Capital is a subsidiary of Leong Hup International.  However, after Leong Hup International made a less than impressive debut on Bursa Malaysia and sliding below its IPO price, the mother share and warrant of Teo Seng Capital came under heavy selling pressure.  This was also not helped by Leong Hup International disposing Teo Seng Capital shares in the open market in the middle of the month.  Teo Seng Capital share and warrant ended trading on 28th May at RM1.05 and 24.5 sen respectively.

KOMARK-WB : Arbitrage Opportunity

The share price of Komarkcorp Berhad staged an impressive rally in the last couple of months, rising from 16.5 sen on 1st March 2019 to as high as 39 sen on 3rd May before settling at 29.5 sen at the close on 14th May.  The company warrant KOMARK-WB also rose from 2.5 sen on 1st March to as high as 9 sen on 3rd May.  However, KOMARK-WB has experienced steeper decline than mother share lately perhaps due to its relatively short tenure.  KOMARK-WB closed at 5 sen on 14th May for a conversion discount of 5.1%.

LAMBO-WB: Theoretically Inexpensive

The new warrant of Lambo Group Berhad (LAMBO-WB) made its debut on 7th May 2019.  The warrant was given free to shareholders of Lambo Group via a bonus issue of warrants on the basis of one free warrant for every two shares held on the entitlement date of 24thApril 2019.  A total of 1.051 billion warrants were issue and LAMBO-WB ended its first day of trade at 2.5 sen.  Lambo Group’s mother share closed at 9 sen on 7th May.

SUNSURIA-WA : Strong Selling Pressure

The share price of Sunsuria Berhad surged on 29th April to as high as 92 sen after the company announced that it has signed a Memorandum of Understanding (MOU) with Chinese logistics provider Sinotrans Limited (“Sinotrans”) to explore business opportunities in Smart Logistics Park and Business, as well as a Strategic Cooperation Agreement (SCA) with Chinese automotive design and engineering firm IAT Automobile Technology Co., Ltd (“IAT”) on ASEAN Automotive Design & Innovation Centre for product research & design, talent development and smart technology.  The agreements were formalised by Sunsuria executive chairman Tan Sri Ter Leong Yap, who joined the Malaysian delegation to the Second Belt and Road Forum for International Cooperation in Beijing.  With renewed investors’ interest, Sunsuria also announced the price fixing for its upcoming private placement of up to 10% share capital at 70 sen for the first tranche.  The share price retreated  to close at 73 sen on 30th April 2019.

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Analysis

Warrant Ranking by Premium (7 Aug 2016)

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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)

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May 2015 (1 May 2015 - 31 May 2015)

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