IJM, Malaysian Resources, Mulpha, YTL: Malaysia Equity Preview
The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 1 percent to 1,487.53.
IJM Land Bhd. (IJMLD MK): The property group and Malaysian Resources Corp Bhd. (MRC MK) plan to merge in a 6.4 billion ringgit ($2 billion) share swap that may create the nation’s second-biggest developer. IJM Land last traded at 3.08 ringgit on Nov. 22 before it was suspended, while Malaysian Resources traded at 2.15 ringgit.
Separately, parent IJM Corp. (IJM MK) said second-quarter profit rose 78 percent from a year earlier. IJM traded at 5.64 ringgit on Nov. 22.
Mah Sing Group Bhd. (MSGB MK): The property group said it agreed to acquire land in Penang state for 157.3 million ringgit. Mah Sing fell 1.1 percent to 1.79 ringgit.
Multi-Purpose Holdings Bhd. (MPU MK): The gaming and financial services group said third-quarter rose 71 percent from a year earlier to 86.5 million ringgit as revenue climbed. The stock fell 3.2 percent to 2.12 ringgit.
Mulpha International Bhd. (MIT MK): The property developer said third-quarter profit rose 4.9 percent from a year earlier to 21.3 million ringgit as sales gained. Mulpha slid 3 percent to 49 sen.
YTL Land & Development Bhd. (YTLL MK): The property group said it will pay 476 million ringgit to buy companies with development land from parent YTL Corp. YTL Land fell 4.6 percent to 1.26 ringgit. YTL lost 2.8 percent to 8.13 ringgit.
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