Posted by IamBoth > 2021-02-26 22:28 | Report Abuse

it is ok ben disregard personality defamation. it is easy stone.

Posted by IamBoth > 2021-02-26 22:37 | Report Abuse

this arv18 had a long fight with KYY. not you

Posted by mikeazk > 2021-02-26 22:51 | Report Abuse

Hi Ben Tan, How could IB lose money if investor bought Supermx-C92 above RM1? IB just need to pay cash upon maturity of (5-4.82)/3.4 = RM0.61 only. So nett IB still earn RM0.39 (RM1-0.61)... Or my calculation is wrong?

Posted by EatCoconutCanWin > 2021-02-28 07:55 | Report Abuse

Nice article. Heng ong huat arh!!!!

Posted by Ben Tan > 2021-02-28 14:41 | Report Abuse

CuriosGuy, Seek, IamBoth, mikeazk, EatCoconutCanWin, thank you for your comments.

Seek, I am still going through the draft application proof for HKEX (it is over 700 pages). I will likely write a separate article on this matter once I have the chance. However, just a note - RM5.20 is not the IPO price.

IamBoth, thank you and I agree.

mikeazk, the question in the example is - did the investor buy the warrant via the open market, or at issuance from the IB?

Posted by see2sea > 2021-03-01 13:13 | Report Abuse

Ben Tan,

Im once a glove believer.

if u had wrote these back in early 2020, i will strongly agree with u.

Today is March 2021, it will rebound but not as strong as back in 2020

Thanks for your article.

Posted by see2sea > 2021-03-01 13:15 | Report Abuse

TG SBB is only to calm the retail investors..if not i will plunge sooner

Posted by mikeazk > 2021-03-01 16:21 | Report Abuse

Ben Tan, for that example Supermx C92 issuance price is 0.15. So if IB paid cash upon maturity of RM0.61 ((5-4.82)/3.4), and investor bought the call warrant above RM0.61, then you are right, both IB and investor are losing money.

Posted by kayap1 > 2021-03-03 00:04 | Report Abuse

Hi Ben,

Do you keep tracking these:"2. Net buyers and net sellers of Supermax stock for the week of 15-19 February" for subsequent week?

Posted by Ben Tan > 2021-03-03 11:44 | Report Abuse

see2seas, mikeazk, kayap1, thank you for your comments.

kayap1, yes, for last week, the top two net sells of local IBs are, expectedly, TG and Supermax:

TOPGLOV: -RM204.9 million
SUPERMX: -RM197.1 million

Posted by PeterPan1979 > 2021-03-03 21:25 | Report Abuse

Hi ben, may i know where to obtain the info on net buy or net sell by local IBs and foreign IBs. thanks

Posted by Ben Tan > 2021-03-04 16:45 | Report Abuse

PeterPan1979, thank you for your comment.

CIMB release weekly reports, called "Strategy" that contain this data.

Posted by DickyMe > 2021-03-04 16:49 | Report Abuse

Data reflects past event which in all high probability will never repeat.

That is why fund managers have microscopic disclaimer clause saying,

"Past result are not guaranteed to happen in the future. The risk is yours completely."

Don't overthink and have wild imagination. Be grounded and open your eyes and observe the people instead of the numbers.