Kulim, Maybank, PacificMas, Zelan: 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 0.2 percent to 1,500.98 on Dec. 3.

Kulim (Malaysia) Bhd. (KUL MK): Johor Corp., owned by Malaysia’s Johor state government, is considering to privatize the palm oil producer after turning down takeover offers for QSR Brands Bhd. and KFC Holdings (Malaysia) Bhd., which are both controlled by Kulim, the Edge weekly reported, citing people it didn’t identify. Kulim fell 0.5 percent to 12.44 ringgit.

Digi.Com Bhd. (DIGI MK): The Malaysian mobile-phone operator said it terminated an agreement for domestic roaming with U Mobile Sdn. The termination of the contract won’t have a material impact on Digi’s earnings, the company said. Digi fell 0.3 percent to 24.80 ringgit.

Careplus Group Bhd. (CPG MK): Shares of the Malaysian glove manufacturer will start trading for the first time on the Kuala Lumpur stock exchange. The company sold shares at 23 sen a share in its initial public offering, according to its listing prospectus.

Malayan Banking Bhd. (MAY MK): Malaysia’s biggest bank said Indonesia’s regulator has extended the deadline for the company to cut its stake in its Indonesian unit to June 2011. Maybank fell 0.2 percent to 8.48 ringgit.

PacificMas Bhd. (PACM MK): The insurer and asset management group said it signed an agreement to sell its insurance unit to Fairfax Asia Ltd. for 219.1 million ringgit ($70 million). The stock added 2.4 percent to 4.30 ringgit.

Zelan Bhd. (ZELN MK): The construction company said it sold 289,700 shares of IJM Corp. (IJM MK) for 1.71 million ringgit or at an average price of 5.89 ringgit a share. Zelan climbed 1 percent to 52.5 sen.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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