Kuala Lumpur, 10 March 2014 – Maybank Investment Bank Berhad (“Maybank Investment Bank”) is issuing eight new European style cash-settled call warrants (“CW”) over ordinary shares of Gamuda Berhad (“GAMUDA”), IJM Land Berhad (“IJMLAND”), Mah Sing Group Berhad (“MAHSING”), Selangor Properties Berhad (“SPB”), Sunway Berhad (“SUNWAY”), Tropicana Corporation Berhad (“TROP”), UEM Sunrise Berhad (“UEMS”) and UOA Development Berhad (“UOADEV”). The warrants will be listed on Tuesday, 11 March 2014 with an issue size of 100 million each.
The focus of this tranche is on the property sector. Property stock prices have fallen following the announcement of various property cooling measures by both the government and Bank Negara. Despite this, the underlying fundamentals of the property market remain robust, supported by a relatively young population and demand by owner-occupiers. This tranche of call warrants offer sophisticated investors the opportunity to capitalise on the potential upside of the underlying stocks, following their recent underperformance.
The call warrants have the following gearings, GAMUDA-C13 (6.13x), IJMLAND-CG (4.30x), MAHSING-CT (4.60x), SPB-CA (3.65x), SUNWAY-CI (4.72x), TROP-CF (4.73x), UEMS-C6 (3.47x) and UOADEV-CO (4.49x). The tenure of all eight 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 and the First Supplementary Base Prospectus dated 15 January 2014.