Malaysia Stocks: Asian Pac, Lion Industries, Wah Seong Corp.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 5.72, or 0.4 percent, to 1,517.44 at the 5:00 p.m. close, the highest since Dec. 9.
Asian Pac Holdings Bhd. (APH MK), a Malaysian property developer, jumped 5.3 percent to 10 sen, the biggest advance since Dec. 21. The company said its unit Safe Valley Sdn. plans to sell four pieces of land in Mukim Setapak near Kuala Lumpur for 49 million ringgit ($15.8 million).
Lion Industries Corp. (LLB MK), the producer of steel bars and wire rods, rose 1 percent to 2 ringgit, the first advance in four days. The company said it fully repaid 100 million ringgit of financing to Intra Inspirasi Sdn., a subsidiary of Lion Forest Industries Bhd., yesterday.
Wah Seong Corp. (WSC MK), the pipe-coating company, advanced 1 percent to 2.09 ringgit. Wah Seong said its unit will sell a stake in Drilbits India Private Ltd. for $2.7 million.
-- With assistance from Soraya Permatasari in Kuala Lumpur. Editor: Richard Frost
To contact the reporter on this story: Anuchit Nguyen in Bangkok at firstname.lastname@example.org.
To contact the editor responsible for this story: Richard Frost at email@example.com
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