MyEG takes centre stage as shares plunge 25%

ASIAN stock markets closed mixed last Friday after China delivered a weaker-thanexpected third quarter gross domestic product (GDP) growth, which came in at 6.5% (vs 6.7% in 2Q18). Chinese stocks saw a selloff early Friday after the GDP results but they made a strong comeback in the afternoon following a series of measures announced by the Chinese leaders to support the struggling stock market.

At the close on Friday, the Shanghai Stock Exchange Composite Index erased Thursday’s decline, rebounding 2.6% to 2,550.5 points while Hong Kong’s Hang Seng Index (HSI) gained 0.4% to 25,561.4 points.

Investors were optimistic that the HSI may continue to rise further and thus they actively traded call warrants over HSI. HSI-C3V topped the warrant chart with 155.2 million units traded while HSI-C3X had investors trading about 95 million units. At the end of last week, bullish investors took

TOP 5 WARRANTS BY VOLUME

Warrant name SUPERMX-C45 TOPGLOV-C40 MYEG-C52 TOPGLOV-C39 HIBISCS-CI Value (RM million) 46.9 42.5 41.6 31.2 30.4

home 7.8 million units of HSIC3V and 1.7 million units of HSIC3X, which gained 24.3% and 11.3% respectively.

Meanwhile in the Malaysian market, My E.G. Services (MyEG) shares stole the limelight last Friday as the share price declined 30% to its intraday low at RM1.05 and hit limitdown just before lunch break. Trading in the shares was suspended in the afternoon session at the company’s request as it was seeking clarification from the Malaysian AntiCorruption Commission on the details of criminal charges in a Issuer Exercise price 3.35 11.80 2.30 12.88 1.10 Expiry date 13 Dec 2018 26 Mar 2019 30 Apr 2019 28 Feb 2019 31 Jan 2019

court case.

Earlier, MyEG and Datasonic were mentioned in criminal charges against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi. One of the charges against Zahid was that he allegedly received 10 cheques worth RM5 million to help a company secure a MyEG project. However, by late Friday evening, MyEG clarified that the company and its board of directors are not under investigation nor party to the investigation leading to the charges against the former deputy prime minister.

The meltdown in MyEG’s

To view the full list of structured warrants available on Bursa Malaysia, visit malaysiawarrants.com.my.

Provided for Malaysian residents’ information only. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice.