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Malaysia Stocks: Hartalega, Kencana Petroleum, Petra Perdana

Malaysia’s FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell for the first time in four days, losing 1.88, or 0.1 percent, to 1,338.84 at 9:57 a.m. local time, set for its steepest decline in a week.

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.

To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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