Maybank Investment Bank Issues 3 New Call Warrants
Kuala Lumpur, 14 May 2014 – Maybank Investment Bank Berhad (“Maybank Investment Bank”) is issuing three new European style cash-settled call warrants (“CW”) over ordinary shares of Mah Sing Group Berhad (“MAHSING”), Press Metal Berhad (“PMETAL”) and Scientex Berhad (“SCIENTX”). The warrants will be listed on Thursday, 15 May 2014 with an issue size of 100 million each.
All underlying companies in this tranche have outperformed the FBM KLCI from the February to April period. MAHSING, PMETAL and SCIENTX delivered returns of 9.7%, 47.4% and 15.8% respectively against FBM KLCI’s 3.7%. PMETAL, a leading aluminium manufacturer in Malaysia, rose sharply in April amidst soaring aluminium prices and growing expectations that China’s economic growth momentum will likely pick up again for the remainder of the year.
PMETAL recently bolstered its balance sheet by exiting its loss-making Chinese smelter business and a sale of its 20% stake in its Samalaju plant to Sumitomo. MAHSING, which has exposure to major property centers such as Klang Valley, Johor and Penang, has been steadily moving higher after stabilizing in early January. SCIENTX is one of the world's top three producers of industrial stretch film covering more than 60 countries. It is also a leading player in manufacturing PP strapping bands and a market leader of consumer packaging products in Asia.
The call warrants have the following gearings, MAHSING-CV (3,77x), PMETALCA(2.89x) and SCIENTX-CB (3.87x). The tenure of all three CWs is approximately 12 months.
The terms and conditions of the above call warrants are stated in their respective term sheets and investors should read the term sheets together with the Base Prospectus dated 2 October 2013, the First Supplementary Base Prospectus dated 15 January 2014 and the Second Supplementary Base Prospectus.