Maybank Investment Bank Issues 6 New Call Warrants
Kuala Lumpur, 17 April 2015 – Maybank Investment Bank Berhad (“Maybank IB”) is issuing six new European style cash settled call warrants over ordinary shares of Datasonic Group Berhad (“DSONIC”), Inari Amertron Berhad (“INARI”), Karex Berhad (“KAREX”), Puncak Niaga Holdings Berhad (“PUNCAK”), 7-Eleven Malaysia Holdings Berhad (“SEM”) and Unisem (M) Berhad (“UNISEM”). The Structured Warrants will be listed on Friday, 17 April 2015 with an issue size of 100 million each.
This tranche features call warrants over manufacturing and consumer based industries. The manufacturing industry which is generally export driven stands to benefit from the weak MYR due to foreign exchange gains and more competitively priced products. Maybank IB Research has a BUY call on INARI with a target price of RM3.95. DSONIC secured a contract from Kementerian Dalam Negeri for the maintenance services of personalisation process at Jabatan Pendaftaran Negara for a period of two years. Sophisticated investors who wish to capitalise on the weak MYR and improvement in global demand or earnings catalyst for DSONIC may buy these call warrants to benefit from any potential upside.
The call warrants have the following gearings, DSONIC-CD (2.91x), INARI-CG (3.71x), KAREX-CI (3.78x), PUNCAK-CE (3.57x), SEM-CD (4.21x), and UNISEM-CH (2.99x). The tenure of all six Structured Warrants is approximately 12 months.
The terms and conditions of the above Structured Warrants are stated in their respective term sheets and investors should read the term sheets together with the Base Prospectus dated 2 October 2014, the First Supplementary Base Prospectus dated 12 November 2014, the Second Supplementary Base Prospectus dated 13 January 2015 and the Third Supplementary Base Prospectus dated 19 March 2015.