Malaysia Stocks: British American, JAKS, Malaysia Smelting
Malaysia’s FTSE Bursa Malaysia KLCI Index rose for a third day, climbing 6.90, or 0.5 percent, to 1,524.34 at the 5 p.m. close, the highest since Nov. 10.
British American Tobacco (Malaysia) Bhd. (ROTH MK), the nation’s largest tobacco company, rose 1.3 percent to 45.48 ringgit. Sales of illegal cigarettes in Malaysia fell in the three months to August to account for 36.7 percent of total industry sales in the country after the government intensified raids on such sales, according to the Confederation of Malaysian Tobacco Manufacturers.
JAKS Resources Bhd. (JAK MK), the Malaysian steel-pipe maker, increased 2.8 percent to 74 sen, its highest close since Nov. 11. The company won a 201 million ringgit ($65 million) contract for earthworks and piling works at a development project near Kuala Lumpur.
Malaysia Smelting Corp. (SMELT MK), the world’s third- biggest tin producer, climbed 2.1 percent to 4.48 ringgit, the most since Dec. 17. The company said shareholders approved a plan to list the company’s stock on the main board of the Singapore stock exchange.
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