Cahya Mata, Goodway, KNM, K-Star, Silk: 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 was little changed at 1,485.42.
Cahya Mata Sarawak Bhd. (CMS MK): The Malaysian construction group said it agreed to form a joint venture to build a hotel and service apartments in Sarawak state at a cost of 380 million ringgit. Cahya slid 2.3 percent to 2.61 ringgit.
Goodway Integrated Industries Bhd. (GII MK): The maker of rubber products and retread tires said it signed an agreement with Emirates General Transport and Services Corp. to provide technical support and consultancy services. Goodway said it will also supply retread products for two years to Emirates General. Goodway fell 14 percent to 86.5 sen.
KNM Group Bhd. (KNMG MK): The oil and gas services provider and Aveng Ltd. agreed to form a joint venture related to the fabrication of steel products in South Africa. The joint venture will allow KNM to tap Aveng’s strong marketing and networking relationship, the Malaysian company said in a statement. KNM fell 1.9 percent to 52 sen.
K-Star Sports Ltd. (KSTR MK): The Chinese maker of sports footwear said it doesn’t know the reason for the stock’s 36 percent plunge yesterday. The stock slid to 57 sen, a record low, which prompted a query by Malaysia’s stock exchange to the company to explain the reason for the price slump.
Silk Holdings Bhd. (SIB MK): The toll road operator said its oil and gas services division received a 12 million ringgit contract to provide a vessel to an oil company. Silk fell 1.4 percent to 36 sen.
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