Malaysia Stocks: Berjaya Media, DRB-Hicom, Xidelang Holdings
Malaysia’s FTSE Bursa Malaysia KLCI Index fell 14.01, or 0.9 percent, to 1,507.28 at the 5 p.m. close in Kuala Lumpur, the first drop in four days and its steepest decline since Nov. 23. The measure advanced 0.4 percent this week, its second weekly gain.
Berjaya Media Bhd. (BMED MK), a newspaper publisher, rose 7.9 percent to 54.5 sen, after profit in the second quarter ended Oct. 31 climbed to 1.89 million ringgit ($600,000) from 127,000 ringgit a year earlier.
DRB-Hicom Bhd. (DRB MK), an auto and financial services group, gained 9.1 percent to 1.80 ringgit, its highest close since Nov. 20, 2007. DRB-Hicom was rated new “buy” at HwangDBS Vickers Research Sdn., which said in a report the company is a “strong proxy to the consumption story.” The brokerage has a share-price estimate of 3.55 ringgit.
Xidelang Holdings Ltd. (XIDE MK), a Chinese maker of footwear products, slid 1.1 percent to 47 sen, its lowest close since Aug. 25. The company said it may raise 20 million ringgit from selling a 10 percent stake in a private placement.
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