Friday, April 20, 2007


Last Minute Shopping

AMMB- Call Warrant

Exercise price RM3.80

Mother share RM3.90

Expiry
12 October 2007
5 covereds to buy one share
Foreign houses valuing mother share at RM4.30-RM5.00. Catalyst soon, removal of some board members and installation of ANZ people on board, bound to stir more institutional interest. Now this covered warrant is reasonably priced, buy up to 22 sen, sell above 30 sen.

Premium = 5 x 20 sen = 1.00 + 3.80 = 4.80 / 3.90 = 23%.
Gearing = 3.90/1.00 = 3.9x

The only decently priced new call warrant over the last 3 weeks.

16 comments:

Tan said...

When is the ANZ people coming on-board??

Salvatore_Dali said...

as i did not prepare the minutes of the meeting, and was not invited to attend... i can only say very soon... ; )

CocoaNut said...

salvatore, MU drew 1-1
:(

Salvatore_Dali said...

have to approach the treble again with a sense of destiny, not fretting over it, what will be will be...

CocoaNut said...

newcastle 0 - 0 chelsea now at 72nd min.
let's see
chelsea always have the last minute dog luck

jumbo said...

hi Dali,
sorry to bother u. Any tp for uemw in medium term.

Salvatore_Dali said...

uemw play will come in waves, there seems to be better picks elsewhere for teh time being, large caps like uemw needs a lot of stocks and liquidity, better to play midcaps, easier in volatile mkts

Salvatore_Dali said...

god plays in red and white this year

CocoaNut said...

bad loser mourinho opened his mouth again...LOL

not a good news on Rio though

dummy said...

How long is your show time on Ammb CA today? Half day or 1 day show? Thanks. I am already in it.

Salvatore_Dali said...

dummy,

i usually will not answer these type of questions ... basic answer "i don't know" ... there are so many imponderables in investing, bad things can happen elsewhere overnight... we take profits or losses according to our perception of risk and views on the mkts, we each have our own tolerence of risk and reward... and i believe i have said where i will buy and when i will sell ... too much info already, anymore i will be holding yr hands to cross the street as well

dummy said...

My apology.

Salvatore_Dali said...

dummy,

no need to apologise, just don't ask those type questions again, no offence taken, good luck, hope u make money...

Salvatore_Dali said...

for those who follow, when activity jumps in volume, esp for covereds, look at the amount traded and the amount on issue... prior to today, you get maybe 3m to 5m traded a day. as at 3.20 total traded for ammb-ca is 25m... total amount issued is 60m, you do the math, yes somebody looks to be collecting, sell on highs, buy on dips... till news come into fruition.

mj said...

STOCK ALERT - Malaysia's AMMB sharply higher on unit's jv with e-pay Asia
24/04/2007
KUALA LUMPUR (XFN-ASIA) - AMMB Holdings Bhd was sharply higher after it was reported that its commercial banking arm AmBank Bhd will form a joint venture with e-pay Asia Ltd, dealers said.
AMMB was up 0.20 rgt or 5.03 pct at 4.18.
e-pay Asia Ltd said yesterday its 60 pct-owned e-pay Malaysia has formed a joint venture with AmBank to recruit new retailers throughout Malaysia for AmBank's credit card transaction services.
The provider of electronic payments said e-pay Malaysia will expand its network of terminals to support both prepaid and AmBank credit card transactions, and plans to roll out a total of 3,000 terminals over the next 24 months.
(1 usd = 3.42 rgt)
aipeng.soo@xinhuafinance.com xfnsa/xfnjg

boyplunger said...

In addition to the existing 9 board members at AMMB, ANZ will nominate a total of 3 board members on AMMB’s board, 1 each at AmBank, AIGB and AmInsurance. In addition, there would be a number of senior management positions to be filled up by ANZ – Deputy Group Managing Director, Group Chief Financial Officer, Chief Risk Officer, 2 senior management positions each at the retail, business banking and investment banking divisions. Details of the appointments are listed in the circular to shareholders in relation to AMMB’s EGM tomorrow.