Highlights

Maybank IB issues 8 new call warrants

 Publish date: Thu, 14 Mar 2019, 02:42 PM

KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) has issued eight new European style cash-settled call warrants over the ordinary shares of eight companies with an issue size of 100 million each.
 
The companies are Guan Chong Bhd, Pos Malaysia Bhd, QL Resources Bhd, SKP Resources Bhd, SP Setia Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Taliworks Corporation Bhd and Uchi Technologies Bhd.
 
“The call warrants have the following stock short names, GCB-CC, POS-C34, QL-CO, SKPRES-CQ, SPSETIA-C16, TAKAFUL-CD, TALIWRK-CE and UCHITEC-CF. The tenure for the eight call warrants listed above is approximately nine months,” Maybank IB said in a statement.
 
It also said the terms and conditions of the above call warrants are stated in their respective term sheets. Investors should read these term sheets together with the base prospectus dated Oct 31, 2018 and first supplementary base prospectus dated Dec 17, 2018.
 
The corporate earnings for the companies under the FBM Kuala Lumpur Composite Index (KLCI) is expected to grow by 3.8 per cent this year, with the downside risk having tapered slightly following substantial impairments made by some firms during the fourth quarter of last year.
 
“The primary driver for the recovery is the banking sector with core earnings estimated to grow by 6.1 per cent on a year-on-year basis.
 
"Maybank IB Research currently has an end-year target of 1,760 points for the KLCI, based on 16.3 times twelve months forward earnings.
 
“It advocates a defensive core equity strategy while occasional volatility may provide investors the opportunity to trade, based on news flow and thematics,” it added.
 
 
 - Bernama
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