AirAsia, Berjaya Sports, SapuraCrest: 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 0.9 percent to 1,507.28 on Dec. 10.
AirAsia Bhd. (AIRA MK): AirAsia X Sdn., the long-haul affiliate of AirAsia may sell shares in Europe and Asia as early as next year as it adds new planes, Chief Executive Officer Azran Osman Rani said in an interview in Tokyo. The European listing may be in London, while Asian shares may be sold in Hong Kong, Singapore or Malaysia, he said. AirAsia, Southeast Asia’s biggest discount carrier, fell 0.8 percent to 2.66 ringgit.
Berjaya Sports Toto Bhd. (BST MK): The Malaysian lottery operator said profit in the second quarter ended Oct. 31 fell 37 percent from a year earlier to 65.1 million ringgit ($21 million) because of an increase in pool betting duty and higher prize payouts. Berjaya Sports dropped 2.1 percent to 4.13 ringgit.
Frontken Corp. (FRCB MK): The engineering group said it bought 8.5 percent of Ares Green Technology Corp. for 4.96 million ringgit, increasing its stake in the Taiwanese company to 50.6 percent. Frontken was unchanged at 17 sen.
Gopeng Bhd. (GOP MK): The company is formulating a business plan as the sale of its stake in a cement business for 200 million ringgit left the company with no “major” earnings drivers. This triggered a stock exchange ruling that requires the company to come up with a business plan within a year or face de-listing, Gopeng said in a statement. Gopeng added 1.4 percent to 1.42 ringgit.
Land & General Bhd. (LGH MK): The Employees Provident Fund, Malaysia’s biggest pension fund, said it ceased to be a substantial shareholder of Land & General after selling 9.6 million shares in the property developer, according to a stock exchange filing. Land & General was unchanged at 46.5 sen.
SapuraCrest Petroleum Bhd. (SCRES MK): The oil and gas services provider said profit in the third quarter ended Oct. 31 rose to 54.8 million ringgit from 53.4 million ringgit a year earlier. The stock dropped 1 percent to 2.85 ringgit.
To contact the editor responsible for this story: Darren Boey in Hong Kong at email@example.com