Gold Drops to $1,200/oz for First Time Since June in New York
Malaysia Stocks: George Kent, HeiTech, KNM, RHB, Top Glove
Malaysia’s FTSE Bursa Malaysia KLCI Index slipped 1.48, or 0.1 percent, to 1,509.10 at the 5 p.m. close in Kuala Lumpur trading, its first drop in three days.
George Kent (Malaysia) Bhd. (GKEN MK) advanced 2.5 percent to 1.22 ringgit, its highest close since Dec. 6. The water treatment company and supplier of water tanks said in an exchange filing that its third-quarter net income rose 30 percent to 7.9 million ringgit ($2.5 million) on higher sales.
HeiTech Padu Bhd. (HEIT MK) jumped 4.4 percent to 1.20 ringgit, the biggest increase since Nov. 9. The computer- services company said in a statement it won a 36.8 million- ringgit contract from the Malaysian government to maintain the Road Transport Department’s computer system.
KNM Group Bhd. (KNMG MK), a Malaysian oil and gas services company, surged 15 percent to 2.68 ringgit, it biggest gain since October 2008, after agreeing to establish a joint venture with Petrosab Logistik Sdn. to target oil and gas projects in the country’s eastern Sabah state.
RHB Capital Bhd. (RHBC MK) rose 1.8 percent to 8.57 ringgit after the lender announced it had signed a strategic cooperation agreement with Japan’s Sumitomo Mitsui Banking Corp.
TA Enterprise Bhd. (TAE MK) rose 1.3 percent to 77 sen. TA Global Bhd. (TAGB MK), its separately listed real estate arm, said its third-quarter earnings more than doubled to 38.8 million ringgit. TA Global advanced 2.3 percent to 45 sen.
Top Glove Corp. (TOPG MK), the world’s biggest rubber-glove makerm fell 0.9 percent to 5.45 ringgit after reporting a 45 percent drop in first-quarter net income.
Wawasan TKH Holdings Bhd. (WWST MK), the packaging products maker, jumped 16 percent to 14.5 sen, its highest close since Aug. 23. The company proposed plans to tackle its debt and losses, according to an exchange filing today.
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