Maybank IB issues call warrants over export-driven industries

by **Cals** Fri 13 Feb 2015, 18:49

Maybank IB issues call warrants over export-driven industries

By Gho Chee Yuan / theedgemarkets.com | February 13, 2015 : 3:30 PM MYT

KUALA LUMPUR (Feb 13): [size=14]Maybank Investment Bank Bhd (Maybank IB) has issued eight new call warrants (CWs) over shares of Hartalega Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Hume Industries Bhd, Karex Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Kossan Rubber Industries Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Press Metal Bhd ([You must be registered and logged in to see this image.] Financial Dashboard),Supermax Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Top Glove Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Unisem (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).

The CWs will be listed today, with an issue size of 100 million each.

In a statement today, Maybank IB said this tranche features CWs over export-driven industries.

"With the ringgit falling to more than 3.550 per US dollar as at Feb 6, 2015 in conjunction with the sharp decline in global oil price, export-driven industries are expected to gain from foreign exchange (forex) gains and more competitively priced products.

"Ringgit-priced products will be more competitively priced compared with its peers, which may spur demand for Malaysian goods. Exporters with US dollar-denominated sales will enjoy a higher profit margin from forex translation gains from their foreign currency-denominated sales," said Maybank IB.

The CWs, with tenure of 12 months, have gearings ranging from 3.14 times to 6.29 times.
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