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Maybank issues call warrants on SapuraKencana, KNM, Dialog

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Maybank issues call warrants on SapuraKencana, KNM, Dialog

Post by Cals Wed 20 Aug 2014, 00:42

Maybank issues call warrants on SapuraKencana, KNM, Dialog

Business & Markets 2014

Written by Supriya Surendran of theedgemalaysia.com

Tuesday, 19 August 2014 10:48

KUALA LUMPUR (Aug 19): Maybank Investment Bank Bhd is issuing eight new European style cash-settled call warrants over shares of eight oil and gas (O&G)-related companies.

The companies are Coastal Contracts Bhd, Dayang Enterprise Holdings Bhd, Dialog Group Bhd, Hock Seng Lee Bhd, KNM Group Bhd, Muhibbah Engineering (M) Bhd, Perdana Petroleum Bhd and SapuraKencana Petroleum Bhd.

The warrants, which were listed today, has an issue size of 100 million each, according to Maybank's statement today.

Maybank said the warrants, which featured the Malaysian O&G segment, offered sophisticated investors, who have a bullish view on the sector to participate in the upside of their selected counters.

Maybank Kim Eng Research has maintained its "buy" call on KNM shares with a target price (TP) of RM1.50, supported by KNM’s status as one of the selected subcontractors for package 2 of Petroliam Nasional Bhd's (Petronas) Refinery and Petrochemical Integrated Development project.

Maybank Kim Eng also maintained its "buy" call on Perdana with a TP of RM2.55 on the back of a visible business mode, young fleet and long-term contracts.

Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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