Latest News in the Structured Warrants Market

Warrants on Taiwanese Securities

Taiwan-based Yuanta Securities Co. Ltd. recently launched its first warrants on Taiwanese underlyings outside Taiwan on SGX.

Hon Hai

Hon Hai Precision Industry Company Ltd. (TAIEX: 2317), the anchor company of Foxconn Technology Group, a devotion in integrating expertise for mechanical and electrical parts and an uncommon concept to provide the lowest "total cost" solution to increase the affordability of electronics products for all mankind.

Today, Foxconn Technology Group is the foremost provider of joint-design, joint-development, manufacturing, assembly and after-sales services to global Computer, Communication and Consumer-electronics ("3C") leaders. Aided by its legendary execution, uncompromising customer devotion and its award-winning proprietary business model, eCMMS, Foxconn Group is not only the largest, but also the fastest growing multinationals manufacturing services provider (including CEM, EMS, ODM and CMMS) in the world.

 < Source: http://www.foxconn.com/CompanyIntro.html >

Acer

Since its founding in 1976, Acer (TAIEX: 2353) has constantly pursued the goal of breaking the barriers between people and technology. Focused on marketing its brand-name IT products around the globe, Acer ranks as the world's No. 3 (Q407) vendor for total PCs and No. 2 for notebooks, with the fastest growth among the top-five players. A profitable and sustainable Channel Business Model is instrumental to Acer’s continued growth, while a successful merger of Gateway Inc. as a wholly owned subsidiary completes the company’s global footprint by strengthening its presence in the U.S. and enhancing its strong position in Europe.

< Source: http://global.acer.com/about/index.htm >

Asus

ASUS (TAIEX: 2357), a technology-oriented company blessed with one of the world's top R&D teams, is well known for high-quality and innovative technology. As a leading company in the new digital era, ASUS offers a complete product portfolio to compete in the new millennium.

In 2007, one in three desktop PCs sold was powered by an ASUS motherboard; and the company’s 2007 revenues reached US$6.9 billion.

< Source: http://www.asus.com/aboutasus.aspx?show=1 >

HTC Corp

HTC Corp (TAIEX: 2498) produces powerful handsets that continually push the boundaries of innovation to provide true mobile freedom.

HTC is one of the fastest-growing companies in the mobile sector and has achieved remarkable recognition over the past couple of years. Business Week ranked HTC as the second best performing technology company in Asia in 2007 as well as giving the company the number 3 spot in its Global listing in 2006.

< Source: http://www.htc.com/europe/about_htc.aspx >

Taiwan Top 50 Tracker Fund (ETF) 

Taiwan Top 50 Tracker Fund (TAIEX: 0050) covers top 50 companies in terms of market capitalization, listed in Taiwan Stock Exchange.

Quarterly Rebalance is on the third Friday of January, April, July, and October. Ranking 40th and below are included; ranking 61st and above are excluded.

< Source: http://www.taiwanetfs.com/english/eindexlist1.asp >

Warrants on China Railway Construction Corporation

(Listed on 13 March 2008)

As part of a dual listing for the biggest IPO this year, China Railway Construction Corporation (HK: 1186) will be making its debut on HKEx on Thursday, 13 March 2008.  The US$2.3 billion “H” shares offering ranks as the most popular IPO ever in Hong Kong by funds under subscription. The company, which built China’s showcases such as the Qinghai-Tibet Railway, expects to use its proceeds to further its overseas expansion. More information is available in the IPO prospectus.

In conjunction with the listing, 9 tranches of structured warrants on China Railway Construction issued by 4 issuers will commence trading on Singapore Exchange (SGX) at the same time of the IPO at 10.00 a.m. Singapore time on Thursday, 13 March 2008. The delayed share price of China Railway Construction is available on Bloomberg. Live prices of the structured warrants is available on SGX website from the same date.

Invest in New KLCI Warrants from Soc Gen

(Listing on 17 January 2008)

Société  Générale  is pleased to announce today, the forthcoming listing of the  first  five  warrants  on the Kuala Lumpur Composite Index (‘KLCI’) on Thursday, 17 January 2008 on the Singapore Exchange (‘SGX’).

These warrants will offer investors a new channel to participate in the performance of the Malaysian economy. Not only can a warrant be used to diversify portfolio risks, as a leveraged product, it may potentially generate enhanced return with a similar capital investment.

The five warrants will be listed on the SGX with the following terms:    

Investors may easily obtain the prices of the warrants through real-time information provider e.g. Reuters (Ric code: .KLCI) or Bloomberg (Bbg code: KLCI <Index>). A delayed price is also available on www.warrants.com.

Note: Calculation of the settlement price of a KLCI warrant e.g. CALL KLCI1550 SGAeCW080630

If the final settlement price for the KLCI June 2008 Futures Contract is 1800, holders of the warrant will receive:

= Entitlement x (Closing Level - Strike Level) ÷ Conversion Ratio ÷ USD/MYR x USD/SGD

= 1 x (1800-1550) ÷ 200 ÷ USD/MYR x USD/SGD

= 250 ÷ 200 ÷ 3.2725 x 1.4321

= 0.5470

Assuming the USD/MYR bid rate at = 3.2725 and the USD/SGD bid rate at 1.4321.

The Kuala Lumpur Composite Index is calculated and owned by Bursa Malaysia Berhad  (“BURSA  MALAYSIA”).   BURSA  MALAYSIA does not sponsor, endorse or promote  this  product  and  are  not in any way connected to it and do not accept any liability in relation to its issue, operation, trading, clearing or  settlement  of  the  product.  SGA Societe Generale Acceptance N.V. has obtained full licence  from  BURSA  MALAYSIA to use such copyright in the creation of this product.

Disclaimer:

This   information   shall  not  be  construed  as  an  offer,  invitation, advertisement,  inducement  or  representation.  The Société Générale Group assumes no responsibility or liability for any consequences, financial or otherwise, arising from this information.  If a recommendation is made with respect to any warrant, please note that (1) the recommendation is intended for  general circulation; (2) the recommendation does not take into account the specific investment objectives, financial situation or particular needs of  any particular person; and (3) advice should be sought from a financial adviser  regarding  the suitability of the warrant, taking into account the specific  investment objectives, financial situation or particular needs of any  person  in  receipt  of  the  recommendation before the person makes a commitment  to  purchase  the  warrant.  The prices of warrants may rise or fall  and  may  expire  worthless, resulting in a total loss of investment. For  the  full  disclaimer and terms and conditions of the warrants, please refer  to  the  Base Listing Document and the relevant Supplemental Listing Documents, which can be downloaded from the website www.warrants.com.

Warrants on China Railway

(Listed on 07 December 2007)

China Railway Group (HK: 390) – the largest construction firm in Asia and third largest in the world – is set to list on Hong Kong Exchange on 07 December, following its successful debut on Shanghai Stock Exchange on 03 December. The “H” shares offering raised US$2.5 billion from investors’ interest in the company’s potential to benefit from the railway expansion plan outlined by the Chinese government recently. More information on the company is available from its prospectus.

In conjunction with the listing, 11 tranches of structured warrants on China Railway Group issued by 5 issuers will commence trading on Singapore Exchange (SGX) at the same time of the IPO at 10.00 a.m. Singapore time on Friday, 07 December 2007. The delayed share price of China Railway is available on Bloomberg from 07 December 2007. Live prices of the structured warrants is available on SGX website from the same date.

* The Cash Settlement Amount is calculated based on the fixed notional exchange rate of HK$1 to S$1.

Warrants on Sinotrans Shipping

(Listed on 23 November 2007)

Stay on course for another billion-dollar IPO!

Sinotrans Shipping Ltd (HK: 368) a unit of China National Foreign Trade Transportation (Group) Corp and the Mainland’s third-largest owner of bulk vessels, will be making its US$1.47 billion listing on Hong Kong Exchange on Friday, 23 November 2007. The company aims to almost quadruple its dry-bulk shipping fleet in the next five years in view of China's rising energy and commodities imports. Information on the company is available from its prospectus.

In conjunction with the listing, 2 tranches of structured warrants on Sinotrans Shipping issued by Macquarie Bank will commence trading on Singapore Exchange (SGX) at the same time of the IPO at 10.00 a.m. Singapore time on Friday, 23 November 2007. The delayed share price of Sinotrans Shipping is available on Bloomberg from 23 November 2007. Live prices of the structured warrants is available on SGX website from the same date.

Warrants on Alibaba.com

(Listed on 6 November 2007)

One of the hottest technology initial public offerings ever!

Alibaba.com – China's biggest B2B e-commerce firm – is set to list on Hong Kong Exchange (HKEx) on Tuesday, 6 November 2007. The company raised US$1.5 billion on massive demand from retail and institutional investors including Yahoo! who are keen to tap into the world’s second’s largest Internet market. Information on the company is available in the IPO prospectus.

In conjunction with the listing, 6 tranches of structured warrants on Alibaba.com issued by 3 warrant issuers will commence trading on Singapore Exchange (SGX) at the same time of the IPO at 10.00 a.m. Singapore time on Tuesday, 6 November 2007. The delayed share price of Alibaba.com is available on Bloomberg from 6 November 2007. Live prices of the structured warrants is available on SGX website from the same date.

* The Cash Settlement Amount is calculated based on the fixed notional exchange rate off HK$1 to S$1.

Hong Kong Stock Ticker: 1688

Disclaimer

Neither this document nor any information or opinion herein constitutes an offer, solicitation or invitation to make an offer to buy or sell any securities or any options, futures or other derivatives related to securities or any other financial instrument ("financial instruments"). SGX, its subsidiaries and their respective affiliates may deal in financial instruments in the usual course of their business, and may at any given time be on the opposite side of trades by investors and market participants.

This document is for general circulation and provides information of a general nature only. It does not have any regard to the specific investment objectives, financial situation or individual needs of any particular person receiving this document. Investors should seek advice from a professional financial adviser regarding investing in any financial instruments or adopting any investment strategies discussed in this document. The material in this document is based on information obtained from sources believed to be reliable but no independent verification has been made, nor is its accuracy or completeness assured. Examples are used for illustrative purposes only and do not constitute investment advice. Statements regarding future prospects may not be realised.

The value or price of, or income from, any financial instruments referred to in this document may fluctuate and may be affected by changes in exchange rates. Accordingly, investors may receive back an amount that is less than the amount originally invested, or may lose the entire principal amount invested. Past performance is not necessarily a guide to future performance. Any investments discussed herein may involve significant risk, may be illiquid and may not be suitable for all investors.