These two document explain what it is.
I suggest you try to read and understand it.
If not you may ask again may be someone or me can try to explain it

http://www.osk188.com/pageW.jsp?name=sw_understanding

https://admin.osk188.com/adminv2/UserFiles/...erm_gens-c2.pdf

OK this is tough...
Any how I will try to simplify it.

GENS..Genting Singapore  is not listed at KLSE  but in Singapore Exchange quoted in Singapore dollar (SGD)
Taking the example of GENS-C2
The share price at the time of issue is SGD1.17 or RM2.87 using 2.4535 rate
The strike price price is SGD1.07 or RM 2.63 (strike price is the price that that you can buy the share or in this case will be the base price to calculate your gain if any at the expiry date of 28 August 2010)
OSK had sold this warrant in small pieces of One sixth each

In warrant like option there are 2 values we have to consider.. The true or intrinsic  value and the time value.

Take this example:

The issue price is RM0.15 for 1/6 so equal to RM 0.90 for the full share
The intrinsic  value is RM2.87 less RM 2.63 equal RM0.24
So the time value to expiry 28 Aug 2010 (11 Months) is RM0.90 less RM0.24 equal RM0.66 or RM0.06 per month

Say  after one month or 01 Nov 2009
GENS share price had gone up to  SGD2.16 or RM 5.30 assuming that the exchange rate had not changed
Intrinsic value RM2.67
time value RM0.06 time 10 month left . equal RM 0.60 the new value for the full share equal RM3.27
The call warrant should now be 1/6 of RM3.27 around RM0.54 for a profit of  RM 0.39 or 260%

Say after 2 month  01 Dec 2009
GENS share price drop to SGD 0.70 or RM1.71
Intrinsic value - RM0.92 intrinsic value couldn't be negative so we consider RM0.00
The time value is RM0.54
so the call warrant shouldn't exceed  RM0.09  for a loss of RM0.06 or 40%

Say on 25 Aug 2010

GENS share price is SGD 1.20 or RM2.94
The intrinsic value  RM0.31 and time value RM0.00
We will be paid RM0.05 per call warrant for a loss of only RM0.10 or 67%

(To come out with the time value involved complicated calculation using the share volatility. I was told that the 2  persons who had come out with the formula to calculate the time value had being awarded with a Nobel prize )