Sebelum ini kita lihat
kejatuhan saham Zhulian dan ini pula berlaku pada saham Dsonic. Harap beri perhatian pada artikel berikut dibawah yang telah disiarkan oleh
TheStar dimana komen oleh pakar waran Alan Voon. Hati-hati jika anda melabur dalam "call warrant". Manipulasi yang dibenarkan?......
PETALING JAYA: Shares of
Datasonic Group Bhd
have steadied, but questions are still being asked about the stock’s
spectacular run-up since January this year and its sudden plunge on
Friday.
The share correction in Datasonic’s share price came
amidst a rare trading caution on the stock issued by Bursa Malaysia on
April 2 and days after a call warrant (CW) was issued on the company by
an investment bank.
Alan Voon,
a warrants specialist, offered his view that it was risky for a third
party to issue a call warrant on shares of a company that had gone up 10
times in the last one year.
“If I had to make a general
deduction, I would imagine a high risk bet by the issuer on Datasonic if
the share prices continued the upward trajectory it had been on,’’ he
said.
The issuer would have needed to protect itself, Voon said,
either by hedging or coming to some kind of arrangement with those
holding large chunks of the shares in the company.
The call
warrants on Datasonic caught interest because
the company had publicly
issued a statement on March 28 to distance itself from the instrument.
In a statement to Bursa Malaysia, Datasonic stated that the company
was not involved or responsible for the issuance of the call warrants by
an investment bank.
“The board wishes to draw attention to all
investors that Datasonic is not liable and takes no responsibility for
the call warrants,” it said.
There is a large number of call
warrants issued by third party issuers in the market. These call
warrants are primarily aimed at short term speculators looking to ride
on the company with minimal capital outlay.
AmBank’s
call warrants on Datasonic carries a conversion ratio of six-for-one at
an exercise price of RM3.72. Datasonic-CW was last traded at 30 sen
yesterday, up 0.5 sen from its previous close.
The CW will
expire on Jan 12, 2015. Meanwhile, the underlaying Datasonic share price
slipped 6 sen, or 1.6% yesterday to close at RM3.58 on a volume of 6.81
million shares.
A total of 30.8 million shares were transacted
on Friday, on the day when the stock collapsed by RM1.06, or 22.6% to
RM3.64 amid reports that it may attract stricter trading curbs by the
exchange.
This was later denied by the company in a brief press statement.
“The volatility is likely to ensue until the last of the warrants is sold.
“Only then will trading volume ebb,” Voon said.
Datasonic’s share price had surged from about RM2 in May 2013 to nearly RM10 in late December.
After its one-for-two bonus issue in July 2013 and a one-into-five
share split in December, its share price again continued its upward
trajectory.
Its earnings leapt 505% to RM22.81mil in the fourth
quarter ended Dec 31, 2013 from RM3.76mil a year ago, bolstered by an
improvement in revenue.
Its revenue rose at a slower pace of
73% to RM72.55mil from RM41.96mil. Earnings per share were 3.38 sen
compared with 0.56 sen.
