Malaysia Stocks: Berjaya Sports, Genting Plantations, Olympia
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 2.51, or 0.2 percent, to 1,509.79 at the 5 p.m. close in Kuala Lumpur.
Plantation stocks: Genting Plantations Bhd. (GENP MK) rose 1.7 percent to 8.60 ringgit, its largest gain since Nov. 4. Kulim (Malaysia) Bhd. (KUL MK) added 1.1 percent to 12.54 ringgit. Palm oil futures in Malaysia climbed 2.5 percent to 3,722 ringgit a metric ton, set for the highest level since May 27, 2008.
Berjaya Sports Toto Bhd. (BST MK), a Malaysian lottery operator, added 2.4 percent to 4.23 ringgit, the largest increase since June 3. The share-price estimate for Berjaya Sports was raised to 4.22 ringgit from 3.94 ringgit at Deutsche Bank AG to reflect a stronger earnings outlook for fiscal 2012 and 2013.
Frontken Corp. (FRCB MK), an engineering group, gained 5.9 percent to 18 sen, its highest close since Nov. 25. The company said it bought 8.5 percent of Ares Green Technology Corp. for 4.96 million ringgit ($1.6 million), increasing its stake in the Taiwanese company to 50.6 percent.
Gopeng Bhd. (GOP MK) slid 5.6 percent to 1.34 ringgit, the most since Nov. 26. The company said it’s forming a business plan as the sale of its stake in a cement business for 200 million ringgit left the company with no 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.
Olympia Industries Bhd. (OLYM MK), a lottery operator, advanced 8.6 percent to 31.5 sen, its highest close since June 12, 2009, after saying it had expressed an interest in acquiring Pan Malaysian Pools Sdn. from Tanjong Plc.
SapuraCrest Petroleum Bhd. (SCRES MK), an oil and gas services provider, climbed 1.4 percent to 2.89 ringgit, a record close, after saying profit in the third quarter ended Oct. 31 rose to 54.8 million ringgit from 53.4 million ringgit a year earlier.
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