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Local interest in foreign warrants seems to be waning, as the predicament of the first call warrant issued on a Jakarta-listed company here indicates. OSK Investment Bank last week delisted the call warrant it had issued on PT Bumi Resources BK, called Bumires-C1, less than four months after listing it on Bursa Malaysia on Feb 3, 2010. However, this does not come as a surprise because Bumires-C1 was suspended just two weeks after its listing. The exercise to remove the instrument was on the grounds that response to the instrument was poor. “There was little interest in Bumires-C1. Hence, we decided to delist it,” says OSK head of derivatives and structured products Foo Keah Keat. A Bursa official says there were no takers for Bumires-C1 from the time it was listed until its suspension on March 1, 2010. Since the call warrant was offered by way of market making, there was no requirement for a minimum number of holders at the point of listing. “This was the first request for the de

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