Kuala Lumpur, 14 January 2015 – Maybank Investment Bank Berhad (“Maybank IB”) is issuing eight new European style cash settled call warrants over ordinary shares of AirAsia Berhad (“AIRASIA”), AirAsia X Berhad (“AAX”), Coastal Contracts Bhd (“COASTAL”), Inari Amertron Berhad (“INARI”), Malaysian Bullk Carriers Berhad (“MAYBULK”), MSM Malaysia Holdings Berhad (“MSM”), Pos Malaysia Berhad (“POS”) and Scomi Energy Services Berhad (“SCOMIES”). The Structured Warrants will be listed on Wednesday, 14 January 2015 with an issue size of 100 million each.
With the price of Brent crude oil falling below USD60 per barrel on 2 January 2015, one of the key beneficiaries of lower crude oil price is the airline industry where jet fuel cost constitutes a significant portion of direct cost. Airlines can then lower jet fuel surcharge which is expected to spur travel demand in spite of the implementation of GST. AIRASIA-C17 and AAX-CR offer sophisticated investors the opportunity to gain exposure to airlines to benefit from lower crude oil price.
The call warrants have the following gearings, AIRASIA-C17 (4.57x), AAX-CR (4.33x), COASTAL-CH (3.71x), INARI-CE (3.37x), MAYBULK-CR (4.13x), MSM-CM (5.44x), POS-CR (6.17x) and SCOMIES_CD (4.03x). The tenure of all eight 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 and the Second Supplementary Base Prospectus dated 13 January 2015.