Malaysia Stocks: Hartalega, Kencana Petroleum, Petra Perdana
KLCC Property Holdings Bhd. (KLCC) fell 0.9 percent to 3.24 ringgit after it was removed from the MSCI Malaysia Index, effective May 26.
Hartalega Holdings Bhd. (HART) , a Malaysian rubber glove maker, rose 0.6 percent to 7.90 ringgit, set for its highest close since April 27. The company said fourth-quarter net income rose 50 percent to 46.4 million ringgit from a year earlier. The company also proposed a bonus share issue of one new share for every two existing shares held, it said in a statement.
Kencana Petroleum Bhd. (KEPB MK), an oil and gas services provider, added 0.6 percent to 1.58 ringgit, set for its highest close since May 5. The company said it won a 91.9 million ringgit contract from Malaysia’s Ministry of Energy, Green Technology and Water, to install a subsea pipeline in Labuan island.
Petra Perdana Bhd. (PETR) , a Malaysian oil and gas services provider, slid 0.7 percent to 1.37 ringgit. The company said it may raise about 110 million ringgit from a private share placement and a rights offer to help repay debt and fund working capital requirements.
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