Green, Hap Seng, Maxwell, Telekom: 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 rose 0.9 percent to 1,566.17.
Green Ocean Corp. (GOCB MK): The investment holding company with interests in software and biotechnology said it plans to raise about 1.7 million ringgit ($550,000) by selling a 10 percent stake to fund working capital requirements. Green Ocean added 5.9 percent to 9 sen.
Hap Seng Consolidated Bhd. (HAP MK): The plantation and property group said its board has approved a dividend policy to distribute as much as 50 percent of profits to shareholders annually. It is also constantly evaluating corporate proposals to boost shareholder value, Hap Seng said in a statement. Hap Seng fell 0.6 percent to 7.13 ringgit.
Maxwell International Holdings Bhd. (MAXWLL MK): The China- based sports shoe maker, will make its trading debut on the Kuala Lumpur stock exchange. The company sold shares at 54 sen apiece, according to its prospectus.
Telekom Malaysia Bhd. (T MK): The state-controlled fixed telephone operator said the Kuala Lumpur High Court has awarded AINB Tech (M) Sdn. a 25 million ringgit claim against the company for breach of a letter of award related to a project. Telekom will take steps to set aside the judgment and resist any action by AINB to enforce it, the company said in a statement. Telekom added 0.6 percent to 3.57 ringgit.
Zelan Bhd. (ZELN MK): The construction company said it sold 1.24 million shares of IJM Corp. (IJM MK) for 7.7 million ringgit or at an average price of 6.20 ringgit a share. Zelan was unchanged at 62 sen.
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