Asia Pacific Land, Olympia, Sunway: 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 was little changed at 1,562.94.

Asia Pacific Land Bhd. (APL MK): The property developer received an offer from Low Chuan Holdings Sdn. to acquire its entire business, including all its assets and liabilities, according to a stock exchange announcement. Low Chuan is offering 305.2 million ringgit ($99 million), or the equivalent of 45 sen a share, for Asia Pacific Land, which would be settled by cash and debt, the statement said. AP Land last traded at 41 sen on Jan. 10. It was suspended yesterday.

LPI Capital Bhd. (LPI MK): The Malaysian insurer said fourth-quarter net income rose 5.6 percent from a year earlier to 36.9 million ringgit, bolstered by higher gross premiums underwritten, the company said in an exchange filing. LPI fell 1.1 percent to 13.90 ringgit.

Olympia Industries Bhd. (OLYM MK): The gaming company signed a sales and marketing service agreement with Taiwan Lottery Co. to cooperate in the sales of lottery games in Taiwan for three years, according to a company statement. Olympia was unchanged at 30.5 sen.

Star Publications (Malaysia) Bhd. (STAR MK): The Employees Provident Fund, Malaysia’s largest pension fund, sold 2 million shares in the company, trimming its stake to 14.8 percent, a stock exchange filing showed. Star added 0.3 percent to 3.38 ringgit.

Sunway Holdings Bhd. (SGW MK): The developer said a joint venture won a S$131.6 million ($102 million) tender for a public housing project in Singapore. Sunway rose 0.9 percent to 2.37 ringgit.

Zelan Bhd. (ZELN MK): The construction company sold 290,000 shares of IJM Corp. (IJM MK) for 1.86 million ringgit or at an average price of 6.41 ringgit a share, according to an exchange filing. Zelan rose 1.5 percent to 66.5 sen. IJM slid 0.2 percent to 6.40 ringgit.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Darren Boey in Hong Kong at dboey@bloomberg.net

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