Kuala Lumpur, 13 February 2015 – Maybank Investment Bank Berhad (“Maybank IB”) is issuing eight new European style cash settled call warrants over ordinary shares of Hartalega Holdings Berhad (“HARTA”), Hume Industries Berhad (“HUMEIND”), Karex Berhad (“KAREX”), Kossan Rubber Industries Berhad (“KOSSAN”), Press Metal Berhad (“PMETAL”), Supermax Corporation Berhad (“SUPERMX”), Top Glove Corporation Berhad (“TOPGLOV”) and Unisem (M) Berhad (“UNISEM”). The Structured Warrants will be listed today, 13 February 2015 with an issue size of 100 million each.
This tranche features call warrants over export-driven industries. With the MYR currency falling to more than RM3.550 per USD as at 6 February 2015 in conjunction with the sharp decline in global oil price, export-driven industries are expected to gain from foreign exchange gains and more competitively priced products. MYR-priced products will be more competitively priced compared to its peers which may spur demand for Malaysian goods. Exporters with USD-denominated sales will enjoy a higher profit margin from forex translation gains from their foreign currency-denominated sales. Sophisticated investors who wish to capitalise on the weak MYR and improvement in global demand may buy these call warrants to benefit from any potential upside.
The call warrants have the following gearings, HARTA-CO (6.29x), HUMEIND-CA (3.14x), KAREX-CF (4.34x), KOSSAN-CG (4.29x), PMETAL-CH (3.59x), SUPERMX-CZ (4.89x), TOPGLOV-CT (5.50x) and UNISEM-CF (3.37x). 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.