Bolton, DRB-Hicom, Ramunia, Xidelang: 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 rose 0.7 percent to 1,521.29.

Bolton Bhd. (BOL MK): The property developer said it agreed to sell Lim Thiam Leong Realty Sdn., owner of an office building in Kuala Lumpur known as Campbell Complex, to Shapadu Resources Sdn. for 50 million ringgit ($16 million). The money raised will be used to repay debt and fund its working capital needs, Bolton said in a statement. Bolton gained 4.8 percent to 1.10 ringgit.

DRB-Hicom Bhd. (DRB MK): The auto and financial services group said it’s unaware of any proposal by controlling shareholder Syed Mokhtar Al-Bukhary to take the company private. The company was responding to a Business Times newspaper report that said Syed Mokhtar, via his Etika Strategi Sdn. unit, may make a buyout offer for DRB-Hicom at between 2.20 ringgit and 2.70 ringgit a share. DRB-Hicom retreated 2.9 percent to 1.65 ringgit.

Ingenuity Solutions Bhd. (ISB MK): The computer software and hardware company said it named Bernard Yee Wai Meng as Chief Financial Officer with effect from Dec. 1. Yee is an accountant with more than 14 years experience in the information technology industry, the company said in a statement. The stock slid 4.4 percent to 11 sen.

Ramunia Holdings Bhd. (RH MK): The oil and gas services provider returned to a profit of 32.6 million ringgit in the fourth quarter ended Oct. 31 from a loss of 7.8 million ringgit a year earlier, according to a company statement. Ramunia added 3.5 percent to 44.5 sen.

Xidelang Holdings Ltd. (XIDE MK): The Chinese maker of footwear products said it may raise 20 million ringgit from selling a 10 percent stake in a private placement. The money raised will be used for working capital, the company said in a statement. The stock slid 1 percent to 47.5 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 in Hong Kong at dboey@bloomberg.net

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