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Maybank Investment issues call warrants for four O&G companies

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Maybank Investment issues call warrants for four O&G companies Empty Maybank Investment issues call warrants for four O&G companies

Post by Cals Thu 01 May 2014, 01:47

Maybank Investment issues call warrants for four O&G companies
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Wednesday, 30 April 2014 15:57

KUALA LUMPUR (Apr 30): Maybank Investment Bank has issued call warrants for four oil and gas companies — Coastal Contracts Bhd, Dayang Enterprise Holdings Bhd, Dialog Group Bhd and Yinson Holdings Bhd.

The warrants are listed with an issue size of 100 million each, a statement by the investment bank said today.

The call warrants have the following gearings — Coastal-CE (2.78 times), Dayang-CK (3.13 times), Dialog-CX (3.97 times) and Yinson-CD (3.28 times). The tenure of all four warrants is approximately 12 months.

Maybank Investment said the capital expenditure in Malaysia’s oil & gas business is forecasted to be close to US$ 60 billion (RM196 billion) over the next five years, in addition to the Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Johor.

“Maybank IB Research maintains an "overweight" call on the oil and gas sector for 2014. The underlying companies in this tranche are beneficiaries of the oil and gas sector through their exposure in marine and support services,” the statement said.
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