Malaysia Stocks: Asia Media, Guocoland, Hovid, PLUS, Transmile
Asia Media Group Bhd. (AMGB MK), an advertising services provider, surged 24 percent to 28.5 sen on its listing debut on the Kuala Lumpur stock exchange. The company sold shares at 23 sen each, according to its prospectus dated Dec. 22.
APP Industries Bhd. (APPI MK), a ceramic products maker and property investor, slid 5.7 percent to 58.5 sen, the most since Dec. 1. The company said it received a takeover offer from PFC Engineering Sdn. at 45 sen a share, according to a statement.
Guocoland (Malaysia) Bhd. (GUOL MK), a property developer, climbed 8.9 percent to 1.35 ringgit, the highest close since Aug. 14, 2009. The company will invest 1.9 billion ringgit ($619 million) in a mixed development in Kuala Lumpur, Prime Minister Najib Razak said in a statement today. The project will include offices, retail, a hotel and apartments, he said.
Hovid Bhd. (HOV MK), a maker of herbal pharmaceutical products, advanced 21 percent to 23.5 sen, the most since July 22 after signing an agreement with Winthrop Pharmaceuticals, a unit of Sanofi-Adventis SA, to develop generic drugs.
PLUS Expressways Bhd. (PLUS MK) fell 5.1 percent to 4.45 ringgit, its steepest drop since Aug. 15, 2008. Jelas Ulung Sdn., which made a 26 billion ringgit takeover offer for PLUS on Dec. 20, said it failed to meet a deadline to place a 50 million ringgit deposit requested by the toll-road operator. PLUS said in a separate statement only UEM Group Bhd. and the Employees Provident Fund, which jointly bid 23 billion ringgit, have remitted the deposit. PLUS also said there were no new offers received by the company.
SAAG Consolidated (M) Bhd. (SAAG MK), an engineering equipment supplier, climbed 3.7 percent to 14 sen, its highest close since March 26, after winning a $9.4 million contract to help build a power plant in Bangladesh.
Transmile Group Bhd. (TGB MK), an air-freight operator, advanced 14 percent to 24 sen, the highest since Dec. 30. Transmile said it agreed to sell four MD-11F aircraft for $68 million to help repay debt, according to a company statement.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org