Malaysia Stocks: CB Industrial, Daibochi, KNM, Emivest, MWE
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 9.40, or 0.6 percent, to 1,506.05 at the 5 p.m. close in Kuala Lumpur, the most since Oct. 13. The gauge gained 0.4 percent this week.
CB Industrial Product Holding Bhd. (CBP MK), a farm- equipment maker, rose 1.4 percent to 3.60 ringgit, its highest close since Nov. 9. The company said third-quarter net income more than doubled from a year earlier to 23.1 million ringgit ($7.4 million).
Daibochi Plastic and Packaging Industry Bhd. (DPP MK), a plastic bags and packaging materials manufacturer, dropped 1.8 percent to 2.73 ringgit, its lowest close since May 25. Nigel Foo, an analyst at CIMB Investment Bank Bhd., cut his share- price estimate to 3.72 ringgit from 4.85 ringgit to reflect a squeeze in Daibochi’s profit margins, according to a report today.
Emivest Bhd. (EMIV MK), an animal feeds producer, advanced 1.8 percent to 83.5 sen, its highest close since Feb. 17, 2006, after Emerging Glory Sdn. made a 108 million ringgit buyout offer for the company’s business.
KNM Group Bhd. (KNMG MK), an oil and gas services provider, advanced 1.2 percent to 44 sen, its steepest gain since Oct. 25. The company won a $216 million contract to supply equipment and services for the development of gas condensate fields in Uzbekistan, it said in a statement.
MWE Holdings Bhd. (MWE MK), a yarn and fabric manufacturer, added 5.8 percent to 1.10 ringgit, the most since June 9. The company said third-quarter profit climbed 17 percent from a year earlier to 12.1 million ringgit, according to a company statement.
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